MarketFriction

Vedant Fashions Ltd

NSE MANYAVAR · BSE 543463 · Speciality Retail
₹519.20 -2.97%
NSE close2026-10-01
52 week range329.20 - 705.00
Market cap₹12,919 Cr.
P/E33.5
IPO 2022 · -40% since Microcap 250 Price band 20% Delivery 49.1%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales218474363240268511367281263492399301
Expenses125232188127146269202161152274221170
Operating Profit93242175113122242166121111218179131
OPM %43%51%48%47%46%47%45%43%42%44%45%43%
Other Income151524211922222620212630
Interest111113141414141415141313
Depreciation323438373739394042444442
Profit before tax6521214883902121359374181148106
Tax %25%26%22%25%26%25%25%24%24%26%23%24%
Net Profit491581166267158101705613511481
EPS in Rs2.026.494.772.572.756.504.162.892.315.554.703.32
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales5045967607949155421,0091,3261,3681,3861,4351,456
Expenses354423526521517307528668709744807817
Operating Profit150173234274398235480658658643628639
OPM %30%29%31%34%44%43%48%50%48%46%44%44%
Other Income2310193258493770859397
Interest65642525273044555655
Depreciation7810882898897135153170172
Profit before tax139164229280323178414567548520496509
Tax %35%35%35%35%24%27%25%25%24%25%24%
Net Profit90106149182245131308423414388376386
EPS in Rs76.0489.4311.9414.5619.5710.5512.7017.4217.0515.9915.4615.88
Dividend Payout %13%0%0%0%20%0%39%52%50%50%50%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth11%21%3%2%
Compounded Profit Growth15%23%-5%-3%
Stock Price CAGR%%-26%-23%
Return on Equity24%25%22%19%
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1212232525252424242424
Reserves2213176838651,0511,0751,0601,3711,5781,7621,940
Borrowings229130234204263293444483458
Other Liabilities109154221257281320402473462477431
Total Liabilities3644929401,1471,5911,6231,7492,1612,5082,7472,853
Fixed Assets104141316252482446495518663688659
CWIP35120002000
Investments001381953715535247939591,0511,214
Other Assets2573454856987376247308488861,008979
Total Assets3644929401,1471,5911,6231,7492,1612,5082,7472,853
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity3752179251253341459483389481
Cash from Investing Activity-22-279-165-106-9062-228-110-16-102
Cash from Financing Activity-16224-13-138-165-406-226-362-377-386
Net Cash Flow-0-417-2-3512-4-6
Free Cash Flow15-94173238263352464484388470
CFO/OP58%53%100%82%122%93%92%93%80%96%
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days78115155155156247143130151163166
Inventory Days291266131147173275207191139210131
Days Payable10893649873133100938910656
Cash Conversion Cycle261289221204256389250228200266240
Working Capital Days9314914914813517210185105126121
ROCE %57%44%35%31%15%33%39%31%26%23%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters74.99%74.98%74.97%74.97%74.97%74.95%74.95%74.95%74.94%74.94%74.94%74.94%
FIIs6.68%7.75%8.13%9.04%9.53%10.54%10.14%9.88%9.76%9.29%8.28%7.95%
DIIs14.88%13.73%12.64%11.89%11.57%10.38%10.59%11.10%10.95%12.00%12.62%13.19%
Public3.46%3.55%4.27%4.09%3.93%4.13%4.31%4.07%4.35%3.77%4.14%3.92%
No. of Shareholders74,73774,37992,08383,64475,71971,97173,54575,62180,69881,85284,11983,016

Fundamentals

Market Cap₹ 12,919 Cr.
Current Price₹ 532
Stock P/E33.5
Book Value₹ 80.8
ROCE22.8 %
ROE18.8 %
Dividend Yield1.46 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)2%
Compounded Profit Growth (TTM)-3%
Standalone figures.
Valuation
Market capRs 12,615 Cr
Enterprise valueRs 13,062 Cr
P/E (TTM)32.69x
Price to book6.42x
Price to sales8.67x
EV / EBITDA17.74x
EV / EBIT23.15x
EV / sales8.97x
Price to cash flow26.20x
Earnings yield3.06%
Dividend yield1.49%
P/E, 3-year average41.85x
P/B, 3-year average9.65x
P/E, 5-year average53.41x
P/B, 5-year average14.08x
Profitability
Operating margin (excl. other income)43.77%
Operating margin (incl. other income)50.29%
EBITDA margin50.57%
Pre-tax margin34.96%
Net profit margin26.51%
Net margin, latest quarter26.75%
ROE20.03%
ROCE23.55%
ROA13.41%
ROE, 3-year average23.53%
ROCE, 3-year average27.31%
ROA, 3-year average15.31%
ROE, 5-year average26.59%
ROCE, 5-year average30.92%
ROA, 5-year average17.17%
ROIC (approx.)17.72%
Tax rate24.28%
Other income / net worth4.76%
Growth
Sales growth (latest year)3.53%
Profit growth (latest year)-3.33%
Sales CAGR, 3 years2.68%
Sales CAGR, 5 years21.49%
Profit CAGR, 3 years-3.88%
Profit CAGR, 5 years23.50%
Sales growth QoQ-24.55%
Profit growth QoQ-29.48%
Sales growth YoY (latest quarter)7.18%
Profit growth YoY (latest quarter)14.73%
Per share
EPS (TTM)Rs 15.88
EPS (latest year)Rs 15.46
EPS (latest quarter)Rs 3.32
EPS, 3-year averageRs 16.17
EPS, 5-year averageRs 15.72
Book value per shareRs 80.85
Sales per shareRs 59.91
Cash flow per shareRs 19.81
Free cash flow per shareRs 19.34
Dividend per share (latest year)Rs 7.75
Dividend per share, 3-year averageRs 8.08
Dividend per share, 5-year averageRs 7.65
Dividends
Dividend payout50.15%
Dividend payout, 3-year average50.01%
Dividend payout, 5-year average48.21%
Efficiency
Asset turnover0.50x
Fixed asset turnover2.18x
Inventory turnover3.42x
Inventory days107 days
Debtor days166 days
Debtors turnover2.20x
Creditor days56 days
Cash conversion cycle240 days
Working capital days121 days
Leverage
Total debtRs 458 Cr
Cash and bankRs 11 Cr
Net debtRs 446 Cr
Debt to equity0.23x
Net debt / EBITDA0.61x
Interest coverage10.22x
Current ratio (filing 2026-03-31)3.67x
Quick ratio (filing 2026-03-31)3.29x
Trade payables (filing 2026-03-31)Rs 62 Cr
Owners' fund to total sources68.86%
Debt to assets16.04%
Cash flow
Cash from Operating Activity (latest year)Rs 481 Cr
Cash from Investing Activity (latest year)Rs -102 Cr
Cash from Financing Activity (latest year)Rs -386 Cr
Net Cash Flow (latest year)Rs -6 Cr
Free cash flow (latest year)Rs 470 Cr
FCFE (approx.: FCF + change in debt)Rs 445 Cr
Cash from ops / profit, 5 years1.13x
Sales to cash flow2.98x
Statement figures
Net sales (TTM)Rs 1,456 Cr
Net sales (latest year)Rs 1,435 Cr
Sales (latest quarter)Rs 301 Cr
Operating profit excl. other income (latest year)Rs 628 Cr
Operating profit (latest quarter)Rs 131 Cr
Other income (TTM)Rs 97 Cr
EBITDA (TTM)Rs 736 Cr
PBDT (TTM)Rs 681 Cr
Profit before tax (TTM)Rs 509 Cr
Tax (latest year)Rs 120 Cr
Net profit (TTM)Rs 386 Cr
Net profit (latest year)Rs 376 Cr
Net profit (latest quarter)Rs 81 Cr
Depreciation (TTM)Rs 172 Cr
Depreciation (latest quarter)Rs 42 Cr
Interest (TTM)Rs 55 Cr
Cost of goods sold (latest year)Rs 495 Cr
Total expenditure (latest year)Rs 807 Cr
Total income (latest year)Rs 1,529 Cr
Share capitalRs 24 Cr
ReservesRs 1,940 Cr
Shareholders' fundsRs 1,964 Cr
Total assetsRs 2,853 Cr
Net blockRs 659 Cr
Capital work in progressRs 0 Cr
InvestmentsRs 1,214 Cr
ReceivablesRs 651 Cr
InventoryRs 145 Cr
Other liabilitiesRs 431 Cr
Shares outstanding (crore)24.30
Ownership
Promoter holding74.94% (-0.01 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 32.7 is at the 12th percentile of its own 4.8-year range (median 67.5, low 23.5, high 202.9).
P/B 6.42 is at the 11th percentile (median 18.17).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodMANYAVARNifty 50Difference
1 week-1.0%-2.8% +1.8 pts
1 month-5.1%-6.8% +1.7 pts
3 months+29.4%-7.6% +37.1 pts
6 months+47.9%+0.4% +47.5 pts
1 year-26.1%-9.9% -16.2 pts
2 years-61.7%-13.6% -48.2 pts
3 years-61.2%+14.2% -75.4 pts
40 mutual fund schemes hold about ₹1,537 Cr. Over three months 13 bought more and 12 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Nippon India Multi Cap Fund0.49%274 -6%
SBI Large & Midcap Fund0.49%207 +100%
SBI Small Cap Fund0.45%191 -3%
HDFC Small Cap Fund0.37%155 +100%
Aditya Birla SL Flexi Cap Fund0.50%144 -5%
Franklin India Small Cap Fund0.66%98 +18%
HDFC Children's Fund(Lock in)0.82%87 +100%
Nippon India Small Cap Fund0.08%67 -23%
Abakkus Small Cap Fund1.95%55 +5%
ICICI Pru Bharat Consumption Fund1.44%46 +0%
UTI Dividend Yield Fund1.03%39 +3%
UTI Multi Cap Fund1.53%33 -3%
Bandhan Small Cap Fund0.10%33 +74%
WOC Flexi Cap Fund0.30%27 -8%
360 ONE Flexicap Fund0.81%18 -3%
Canara Rob Consumption Fund0.48%10 +0%
WOC Multi Cap Fund0.23%9 -10%
Motilal Oswal Nifty Microcap 250 Index Fund0.35%9 -4%
Bandhan Multi Asset Allocation Fund0.22%8 +34%
Bajaj Finserv Small Cap Fund0.25%7 +62%
HDFC Consumption Fund0.53%5 +100%
360 ONE Balanced Hybrid Fund0.44%3 +7%
HDFC Retirement Fund-Hybrid-Equity Plan0.19%3 +100%
Canara Rob Balanced Advantage Fund0.26%3 +7%
WOC Consumption Opportunities Fund1.36%2 -16%

Red flags

F-score 5 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹301 Cr +7.1% vs Jun 2025. Net profit ₹81 Cr +15.7%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-21Dividend - Rs 7.75 Per Share
2025-08-28Dividend - Rs 8 Per Share
2024-08-23Annual General Meeting/Dividend - Rs 8.50 Per Share
2023-08-17Annual General Meeting/Dividend - Rs 9 Per Share
2022-08-30Annual General Meeting/Dividend - Rs 5 Per Share
DateTypeWhat it says
2026-09-29Shareholder meetingVoting results.
2026-09-28Shareholder meetingProceedings of Annual General Meeting held on September 28, 2026
2026-09-22UpdatesVedant Fashions Limited has informed the Exchange about ESG Rating & Core ESG Rating assigned voluntarily by Crisil ESG Ratings & Analytics Ltd..
2026-09-20Concall / analyst meetA schedule of meet with the Institutional Investor/Analyst vide the enclosed Letter.
2026-09-16General UpdatesThe compounding under the Legal Metrology Act, 2009, vide the enclosed letter.
2026-09-16UpdatesIntimation for communication sent to its Shareholders on Deduction of Tax at Source on Dividend.
2026-09-16ResignationResignation of Director/KMP/SMP
2026-09-15UpdatesIntimation of resignation of Chief Financial Officer of the Company.
2026-09-15ResignationResignation of Mr Rahul Murarka as Chief Financial Officer of the company w.e.f. November 15, 2026.
2026-09-14Concall / analyst meetA schedule of meet with the Institutional Investor/Analyst vide the enclosed Letter.
2026-09-09UpdatesReceipt of an Order-in-Appeal dated August 28, 2026 (received on September 08, 2026) from the Office of the Commissioner of CGST and CEX (Appeals-III)...
2026-09-05Concall / analyst meetA schedule of meetings with the Institutional Investors/Analysts vide the enclosed Letter.
2026-09-04Shareholder meetingThe Notice of the upcoming 24th Annual General Meeting of the Members to be held on September 28, 2026 at 03.00 PM.
2026-09-04General UpdatesThe rescheduling of meeting with investor/analyst, as detailed in the enclosed letter.
2026-09-02AppointmentAppointment of Ms Neetu Kashiramka as Non- Executive Independent Director of the company w.e.f. September 02, 2026.
2026-09-02General UpdatesConvening of 24th Annual General Meeting (AGM) On Monday, September 28, 2026.
2026-09-02General UpdatesReconstitution of the Committees of the Board.
2026-09-02Record DateRecord date for the purpose of Dividend is 21-Sep-2026.
2026-09-02AppointmentAppointment of Ms Neetu Kashiramka as Non- Executive Independent Director of the company w.e.f. September 02, 2026.
2026-09-02CessationCessation of Mr Tarun Puri as Non- Executive Independent Director of the company w.e.f. September 05, 2026.
2026-09-02Director changeChange in Director(s) of the company.
2026-09-02Director changeChange in Director(s) of the company.
2026-09-02Director changeChange in Director(s) of the company.
2026-09-02AppointmentAppointment of Mr Nihir Parikh as Non- Executive Independent Director of the company w.e.f. September 02, 2026.
2026-09-02Board meeting outcomeOutcome of Board Meeting held on September 02, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Vedant Fashions Ltd?

Vedant Fashions Ltd (MANYAVAR) has a market capitalisation of Rs 12,919 Cr. at the 2026-10-01 close.

What is the P/E ratio of Vedant Fashions Ltd?

Vedant Fashions Ltd trades at a P/E of 33.5 on trailing twelve-month profit, at the 2026-10-01 close.

What were Vedant Fashions Ltd's latest quarterly results?

In the Jun 2026 quarter, Vedant Fashions Ltd sales was Rs 301 Cr (+7.1% vs Jun 2025) and net profit was Rs 81 Cr.

What is the 52-week high and low of Vedant Fashions Ltd?

The 52-week high is Rs 705.00 and the 52-week low is Rs 329.20.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03