MarketFriction

Vadilal Industries Ltd

NSE VADILALIND · BSE 519156 · Dairy Products
₹7,187.00 -0.91%
NSE close2026-10-01
52 week range3,996.00 - 8,447.00
Market cap₹5,232 Cr.
P/E23.9
Price band 20% Delivery 46.4%

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

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales289174251464296204275507341239416680
Expenses230163206351235178236406290227331514
Operating Profit591146113612639100511185166
OPM %20%6%18%24%20%13%14%20%15%4.7%20%24%
Other Income4434543474727
Interest444433444454
Depreciation989111110111212121415
Profit before tax503351035217278943-073174
Tax %24%-210%21%25%25%31%19%25%23%150%25%25%
Net Profit38928773912226733-055131
EPS in Rs52.9412.8638.45107.7154.2316.6030.6193.1946.50-0.2276.32182.13
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales4504825475675994636981,0581,1251,2401,5031,676
Expenses3914254994945214285998929049991,2541,362
Operating Profit58574873793699166221241249314
OPM %13%12%9%13%13%8%14%16%20%19%17%19%
Other Income13610101681012152146
Interest211615141721191618141617
Depreciation141516172423243035424952
Profit before tax2429235248864131180200205290
Tax %40%35%32%36%14%40%30%26%19%25%24%
Net Profit151916334154596146150155219
EPS in Rs20.5326.5221.7946.4157.576.4462.19133.96203.05209.15215.78304.73
Dividend Payout %6%5%6%3%0%0%2%1%1%10%20%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth13%27%12%31%
Compounded Profit Growth26%102%15%57%
Stock Price CAGR29%48%42%36%
Return on Equity20%24%24%20%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital777777777777
Reserves106120154168200240244290390535688843
Borrowings152122119141148174158186291223218230
Other Liabilities104117134123122153159140150151181188
Total Liabilities3703664144394775745676238389171,0941,268
Fixed Assets226225251257267318312307403444478536
CWIP11571395320121020
Investments00111111516621
Other Assets143141158175196247250313410445601691
Total Assets3703664144394775745676238389171,0941,268
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity506446174467823239192111143
Cash from Investing Activity-8-11-23-24-31-67-11-20-62-66-58-104
Cash from Financing Activity-41-53-206-104-5689-114-61-38
Net Cash Flow1-13-1441620-1312-81
Free Cash Flow425122-812-26711-181333347
CFO/OP130%116%92%45%82%101%236%44%50%108%63%76%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days14188282027363427313643
Inventory Days144138135119157179211170167146234196
Days Payable96104929186981658558628871
Cash Conversion Cycle625151569110781119135115182168
Working Capital Days-49-40-37-4-5-14-201729508389
ROCE %10%18%17%13%20%17%7%19%26%27%25%22%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters64.72%64.72%64.72%64.72%64.72%64.72%64.72%64.72%64.72%64.72%64.72%64.72%
FIIs0.09%0.09%0.45%0.38%0.35%0.30%0.68%0.77%0.57%0.56%0.58%1.02%
DIIs0.00%0.00%0.00%0.00%0.05%0.00%0.00%0.44%0.47%0.42%0.42%1.26%
Public35.18%35.20%34.83%34.90%34.88%34.97%34.58%34.06%34.23%34.29%34.27%33.01%
No. of Shareholders13,70014,28614,13815,94819,67717,82718,71720,62219,63819,23022,13319,041

Fundamentals

Market Cap₹ 5,232 Cr.
Current Price₹ 7,277
Stock P/E23.9
Book Value₹ 1,183
ROCE22.0 %
ROE19.6 %
Dividend Yield0.59 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)31%
Compounded Profit Growth (TTM)57%
Consolidated figures.
Valuation
Market capRs 5,167 Cr
Enterprise valueRs 5,354 Cr
P/E (TTM)23.59x
Price to book6.08x
Price to sales3.08x
EV / EBITDA14.89x
EV / EBIT17.43x
EV / sales3.19x
Price to cash flow36.12x
Earnings yield4.24%
Dividend yield0.60%
P/E, 3-year average20.77x
P/B, 3-year average4.66x
P/E, 5-year average20.28x
P/B, 5-year average4.27x
Profitability
Operating margin (excl. other income)16.57%
Operating margin (incl. other income)18.00%
EBITDA margin21.46%
Pre-tax margin17.32%
Net profit margin13.07%
Net margin, latest quarter19.25%
ROE20.07%
ROCE22.24%
ROA13.13%
ROE, 3-year average25.14%
ROCE, 3-year average24.96%
ROA, 3-year average14.90%
ROE, 5-year average23.89%
ROCE, 5-year average23.71%
ROA, 5-year average13.08%
ROIC (approx.)22.38%
Tax rate24.45%
Other income / net worth2.52%
Growth
Sales growth (latest year)21.19%
Profit growth (latest year)3.17%
Sales CAGR, 3 years12.42%
Sales CAGR, 5 years26.54%
Profit CAGR, 3 years17.22%
Profit CAGR, 5 years101.84%
Sales growth QoQ63.54%
Profit growth QoQ138.63%
Sales growth YoY (latest quarter)34.24%
Profit growth YoY (latest quarter)95.45%
Per share
EPS (TTM)Rs 304.63
EPS (latest year)Rs 215.72
EPS (latest quarter)Rs 182.07
EPS, 3-year averageRs 209.26
EPS, 5-year averageRs 164.79
Book value per shareRs 1,182.63
Sales per shareRs 2,330.83
Cash flow per shareRs 198.98
Free cash flow per shareRs 65.37
Dividend per share (latest year)Rs 43.00
Dividend per share, 3-year averageRs 21.84
Dividend per share, 5-year averageRs 13.65
Dividends
Dividend payout19.94%
Dividend payout, 3-year average10.24%
Dividend payout, 5-year average6.77%
Efficiency
Asset turnover1.19x
Fixed asset turnover2.80x
Inventory turnover2.69x
Inventory days136 days
Debtor days43 days
Debtors turnover8.47x
Creditor days71 days
Cash conversion cycle168 days
Working capital days89 days
Leverage
Total debtRs 230 Cr
Cash and bankRs 43 Cr
Net debtRs 187 Cr
Debt to equity0.27x
Net debt / EBITDA0.52x
Interest coverage18.08x
Current ratio (filing 2026-03-31)3.00x
Quick ratio (filing 2026-03-31)1.41x
Trade payables (filing 2026-03-31)Rs 121 Cr
Owners' fund to total sources67.04%
Debt to assets18.11%
Cash flow
Cash from Operating Activity (latest year)Rs 143 Cr
Cash from Investing Activity (latest year)Rs -104 Cr
Cash from Financing Activity (latest year)Rs -38 Cr
Net Cash Flow (latest year)Rs 1 Cr
Free cash flow (latest year)Rs 47 Cr
FCFE (approx.: FCF + change in debt)Rs 58 Cr
Cash from ops / profit, 5 years0.87x
Sales to cash flow10.51x
Statement figures
Net sales (TTM)Rs 1,676 Cr
Net sales (latest year)Rs 1,503 Cr
Sales (latest quarter)Rs 680 Cr
Operating profit excl. other income (latest year)Rs 249 Cr
Operating profit (latest quarter)Rs 166 Cr
Other income (TTM)Rs 46 Cr
EBITDA (TTM)Rs 360 Cr
PBDT (TTM)Rs 343 Cr
Profit before tax (TTM)Rs 290 Cr
Tax (latest year)Rs 50 Cr
Net profit (TTM)Rs 219 Cr
Net profit (latest year)Rs 155 Cr
Net profit (latest quarter)Rs 131 Cr
Depreciation (TTM)Rs 52 Cr
Depreciation (latest quarter)Rs 15 Cr
Interest (TTM)Rs 17 Cr
Cost of goods sold (latest year)Rs 903 Cr
Total expenditure (latest year)Rs 1,254 Cr
Total income (latest year)Rs 1,525 Cr
Share capitalRs 7 Cr
ReservesRs 843 Cr
Shareholders' fundsRs 850 Cr
Total assetsRs 1,268 Cr
Net blockRs 536 Cr
Capital work in progressRs 20 Cr
InvestmentsRs 21 Cr
ReceivablesRs 177 Cr
InventoryRs 336 Cr
Other liabilitiesRs 188 Cr
Shares outstanding (crore)0.72
Ownership
Promoter holding64.72% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 23.6 is at the 42th percentile of its own 9.4-year range (median 25.5, low 9.1, high 274.4).
P/B 6.08 is at the 86th percentile (median 4.37).
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.
PeriodVADILALINDNifty 50Difference
1 week-3.1%-2.8% -0.3 pts
1 month-7.3%-6.8% -0.6 pts
3 months+13.0%-7.6% +20.6 pts
6 months+75.7%+0.4% +75.3 pts
1 year+28.5%-9.9% +38.4 pts
2 years+75.8%-13.6% +89.3 pts
3 years+179.9%+14.2% +165.7 pts
5 years+588.6%+27.9% +560.7 pts
2 mutual fund schemes hold about ₹5 Cr. Over three months 2 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Unifi Flexi Cap Fund2.21%5 +100%
Motilal Oswal BSE 1000 Index Fund0.01%0 +14%

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 ₹680 Cr +34.1% vs Jun 2025. Net profit ₹131 Cr +95.5%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-03Dividend - Rs 43 Per Share
2026-08-21Interim Dividend - Rs 17 Per Share
2025-09-12Dividend - Rs 21 Per Share
2024-09-19Dividend - Rs 1.50 Per Share
2024-09-19Annual General Meeting
2023-09-14Dividend - Rs 1.50 Per Share
2023-09-14Annual General Meeting
2022-09-21Annual General Meeting/Dividend - Rs 1.25 Per Share
2021-09-08 Annual General Meeting
2020-09-17 Annual General Meeting
2019-09-19 Dividend - Rs 1.25 Per Share
2018-09-12 Dividend Rs 1.25 Per Share
2017-09-14 Annual General Meeting/Dividend - Rs 1.25 Per Share
2016-09-14 Annual General Meeting/ Dividend - Rs 1.25 Per Share
2015-09-15 Annual General Meeting/ Dividend - Re 1/- Per Share
2014-09-11Annual General Meeting And Dividend Re.1/- Per Share
2013-09-12Annual General Meeting/Dividend Rs 1.50/- Per Share
2012-09-12Annual General Meeting And Dividend Rs.1.50 Per Share
2011-09-12Dividend-Rs.1.50 Per Share
DateTypeWhat it says
2026-09-30Board meeting outcomeOutcome of Board Meeting held on 30.09.2026
2026-09-30General UpdatesGeneral Updates
2026-09-23Credit Rating- OthersCredit Rating- Others
2026-09-11General UpdatesGeneral Updates
2026-09-10Shareholder meetingProceedings of undefined held on September 10, 2026
2026-08-18Record DateRecord date for the Final Dividend for F.Y. 2025-26 is 03-Sep-2026.
2026-08-17Shareholder meetingNotice of Annual General Meeting to be held on September 10, 2026
2026-08-12Record DateRecord date for the purpose of Interim Dividend is 21-Aug-2026.
2026-08-12Board meeting outcomeVadilal Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026 .
2026-07-10Credit RatingCredit Rating
2026-05-27General UpdatesGeneral Updates
2026-05-27Board meeting outcomeVadilal Industries Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-12General UpdatesAppointment of Mr. Nagarajan Sivaramakrishnan as an Interim Chairman of the Board of Directors of the Company.
2026-04-07Disclosure under SEBI TakeovRAJESH R. GANDHI has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial ...
2026-04-07Disclosure under SEBI TakeovDevanshu L Gandhi has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial...
2026-02-21ResignationResignation of Mr. Shivakumar Dega as Independent Director of the company w.e.f. February 17, 2026.
2026-02-18ResignationResignation of Mr. Shivakumar Dega as Independent Director of the company w.e.f. February 17, 2026.
2026-02-09Board meeting outcomeVadilal Industries Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2025-11-12Board meeting outcomeVadilal Industries Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
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.
Order dateForumCase
2021-06-08NCLTVirendra R. Gandhi & Ors. Vs Vadilal Industries Pvt. Ltd. & Ors.
2021-02-25NCLTVirendra R. Gandhi & Ors. Vs Vadilal Industries Pvt. Ltd. & Ors.
2020-12-31NCLTVirendra R. Gandhi & Ors. Vs Vadilal Industries Pvt. Ltd. & Ors.
2020-10-23NCLTVirendra R. Gandhi & Ors. Vs Vadilal Industries Pvt. Ltd. & Ors.
2020-09-07NCLTVirendra R. Gandhi & Ors. Vs Vadilal Industries Pvt. Ltd. & Ors.
2020-07-29NCLTVirendra R. Gandhi & Ors. Vs Vadilal Industries Pvt. Ltd. & Ors.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
High low price variation greater than 100perc in previous 6 months

Quick answers

What is the market cap of Vadilal Industries Ltd?

Vadilal Industries Ltd (VADILALIND) has a market capitalisation of Rs 5,232 Cr. at the 2026-10-01 close.

What is the P/E ratio of Vadilal Industries Ltd?

Vadilal Industries Ltd trades at a P/E of 23.9 on trailing twelve-month profit, at the 2026-10-01 close.

What were Vadilal Industries Ltd's latest quarterly results?

In the Jun 2026 quarter, Vadilal Industries Ltd sales was Rs 680 Cr (+34.1% vs Jun 2025) and net profit was Rs 131 Cr.

What is the 52-week high and low of Vadilal Industries Ltd?

The 52-week high is Rs 8,447.00 and the 52-week low is Rs 3,996.00.

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