Vardhman Acrylics Ltd (VARDHACRLC) share price, results

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 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	86	62	68	57	71	82	72	69	89	76	84	78
Expenses	81	57	64	55	70	81	72	70	89	69	73	61
Operating Profit	5	5	5	2	1	1	-0	-1	0	7	10	18
OPM %	6%	8%	7%	3.8%	1.1%	1.0%	-0.0%	-0.9%	0.2%	9%	12%	23%
Other Income	4	3	4	4	3	5	3	4	4	3	4	4
Interest	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1
Profit before tax	8	6	7	5	3	5	2	2	3	10	14	21
Tax %	21%	12%	20%	20%	55%	17%	18%	24%	23%	23%	-14%	22%
Net Profit	6	6	5	4	2	4	2	2	2	7	16	16
EPS in Rs	0.77	0.70	0.66	0.54	0.19	0.49	0.24	0.22	0.31	0.92	1.94	2.02

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	448	368	327	392	334	280	303	427	297	282	319	327
Expenses	403	331	295	364	308	232	294	390	284	278	302	292
Operating Profit	44	38	31	28	27	48	9	36	13	4	17	35
OPM %	10%	10%	10%	7%	8%	17%	2.9%	8%	4.5%	1.3%	5%	11%
Other Income	22	25	21	25	27	15	14	13	14	16	15	16
Interest	0	0	1	0	0	1	0	0	0	0	0	0
Depreciation	4	5	5	5	5	5	5	5	6	3	3	3
Profit before tax	62	57	47	47	48	57	17	43	21	16	29	47
Tax %	34%	28%	17%	26%	3%	25%	16%	24%	18%	26%	6%
Net Profit	41	41	39	34	46	43	15	33	18	12	27	42
EPS in Rs	4.38	5.12	4.80	4.29	5.76	5.34	1.81	4.09	2.18	1.47	3.39	5.19
Dividend Payout %	114%	29%	42%	58%	0%	0%	1,380%	61%	92%	102%	44%

	10 Years	5 Years	3 Years	TTM	1 Year	Last Year
Compounded Sales Growth	-3%	3%	-9%	11%
Compounded Profit Growth	-4%	-9%	-6%	352%
Stock Price CAGR	1%	-7%	-6%		-1%
Return on Equity	11%	8%	8%			11%

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	93	93	80	80	80	80	80	80	80	80	80	80
Reserves	228	225	215	239	253	275	318	132	165	163	158	174
Borrowings	1	1	1	1	1	1	0	3	0	1	0	0
Other Liabilities	108	77	127	92	119	96	86	87	97	84	110	89
Total Liabilities	430	395	423	413	453	453	485	302	342	328	349	343
Fixed Assets	72	61	58	55	52	64	59	56	54	56	58	60
CWIP	2	0	0	0	0	0	0	0	4	0	0	0
Investments	263	256	248	260	284	160	232	134	172	169	186	183
Other Assets	92	78	117	99	118	229	194	112	112	103	105	99
Total Assets	430	395	423	413	453	453	485	302	342	328	349	343

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	55	23	42	3	26	4	39	-9	39	7	26	7
Cash from Investing Activity	-58	43	30	7	-8	80	-83	190	-37	12	-9	8
Cash from Financing Activity	-1	-68	-63	-15	-20	-24	-1	-198	-3	-20	-17	-12
Net Cash Flow	-3	-2	8	-5	-2	61	-44	-17	-1	0	-0	2
Free Cash Flow	51	20	41	2	23	-2	39	-12	31	4	21	2
CFO/OP	203%	84%	114%	62%	137%	48%	111%	-18%	135%	92%	753%	69%

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	1	2	5	23	15	10	20	13	11	20	11	13
Inventory Days	63	62	123	85	94	92	139	121	108	141	149	108
Days Payable	60	37	100	66	84	83	89	75	70	81	123	83
Cash Conversion Cycle	5	27	28	41	24	20	69	59	49	80	37	39
Working Capital Days	-2	11	-5	9	4	-2	21	29	15	25	-1	13
ROCE %	12%	19%	19%	15%	14%	14%	15%	6%	19%	9%	7%	12%

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%
FIIs	0.14%	0.13%	0.16%	0.18%	0.19%	0.13%	0.13%	0.14%	0.02%	0.02%	0.02%	0.03%
Public	24.89%	24.90%	24.87%	24.85%	24.83%	24.90%	24.90%	24.89%	25.01%	25.01%	25.01%	25.00%
No. of Shareholders	28,152	28,761	29,292	28,732	28,037	28,061	28,291	28,216	28,026	28,074	27,984	27,904

Fundamentals

Market Cap₹ 356 Cr.

Current Price₹ 44.2

Stock P/E8.52

Book Value₹ 31.6

ROCE11.8 %

ROE11.1 %

Dividend Yield3.39 %

Face Value₹ 10.0

Compounded Sales Growth (TTM)11%

Compounded Profit Growth (TTM)352%

Standalone figures.

Valuation

Market capRs 356 Cr

Enterprise valueRs 350 Cr

P/E (TTM)8.54x

Price to book1.40x

Price to sales1.09x

EV / EBITDA6.93x

EV / EBIT7.36x

EV / sales1.07x

Price to cash flow50.54x

Earnings yield11.71%

Dividend yield3.38%

P/E, 3-year average19.59x

P/B, 3-year average1.30x

P/E, 5-year average19.82x

P/B, 5-year average1.47x

Profitability

Operating margin (excl. other income)5.27%

Operating margin (incl. other income)10.01%

EBITDA margin15.45%

Pre-tax margin14.50%

Net profit margin12.74%

Net margin, latest quarter20.73%

ROE11.06%

ROCE11.77%

ROA7.88%

ROE, 3-year average7.72%

ROCE, 3-year average9.12%

ROA, 3-year average5.54%

ROE, 5-year average8.46%

ROCE, 5-year average10.40%

ROA, 5-year average6.10%

ROIC (approx.)18.14%

Tax rate5.58%

Other income / net worth5.95%

Growth

Sales growth (latest year)13.14%

Profit growth (latest year)130.54%

Sales CAGR, 3 years-9.28%

Sales CAGR, 5 years2.60%

Profit CAGR, 3 years-6.05%

Profit CAGR, 5 years-8.69%

Sales growth QoQ-6.29%

Profit growth QoQ4.04%

Sales growth YoY (latest quarter)12.77%

Profit growth YoY (latest quarter)826.86%

Per share

EPS (TTM)Rs 5.19

EPS (latest year)Rs 3.39

EPS (latest quarter)Rs 2.02

EPS, 3-year averageRs 2.35

EPS, 5-year averageRs 2.59

Book value per shareRs 31.60

Sales per shareRs 40.74

Cash flow per shareRs 0.88

Free cash flow per shareRs 0.25

Dividend per share (latest year)Rs 1.50

Dividend per share, 3-year averageRs 1.67

Dividend per share, 5-year averageRs 6.50

Dividends

Dividend payout44.22%

Dividend payout, 3-year average79.26%

Dividend payout, 5-year average335.75%

Efficiency

Asset turnover0.93x

Fixed asset turnover5.31x

Inventory turnover4.11x

Inventory days89 days

Debtor days13 days

Debtors turnover28.57x

Creditor days83 days

Cash conversion cycle39 days

Working capital days13 days

Leverage

Cash and bankRs 6 Cr

Net debtRs -6 Cr

Net debt / EBITDA-0.12x

Interest coverage297.75x

Owners' fund to total sources74.12%

Cash flow

Cash from Operating Activity (latest year)Rs 7 Cr

Cash from Investing Activity (latest year)Rs 8 Cr

Cash from Financing Activity (latest year)Rs -12 Cr

Net Cash Flow (latest year)Rs 2 Cr

Free cash flow (latest year)Rs 2 Cr

Cash from ops / profit, 5 years0.67x

Sales to cash flow45.19x

Statement figures

Net sales (TTM)Rs 327 Cr

Net sales (latest year)Rs 319 Cr

Sales (latest quarter)Rs 78 Cr

Operating profit excl. other income (latest year)Rs 17 Cr

Operating profit (latest quarter)Rs 18 Cr

Other income (TTM)Rs 16 Cr

EBITDA (TTM)Rs 51 Cr

PBDT (TTM)Rs 50 Cr

Profit before tax (TTM)Rs 47 Cr

Tax (latest year)Rs 2 Cr

Net profit (TTM)Rs 42 Cr

Net profit (latest year)Rs 27 Cr

Net profit (latest quarter)Rs 16 Cr

Depreciation (TTM)Rs 3 Cr

Depreciation (latest quarter)Rs 1 Cr

Interest (TTM)Rs 0 Cr

Cost of goods sold (latest year)Rs 263 Cr

Total expenditure (latest year)Rs 302 Cr

Total income (latest year)Rs 334 Cr

Share capitalRs 80 Cr

ReservesRs 174 Cr

Shareholders' fundsRs 254 Cr

Total assetsRs 343 Cr

Net blockRs 60 Cr

Capital work in progressRs 0 Cr

InvestmentsRs 183 Cr

ReceivablesRs 11 Cr

InventoryRs 64 Cr

Other liabilitiesRs 89 Cr

Shares outstanding (crore)8.04

Ownership

Promoter holding74.97% (+0.00 in a year)

Computed by MarketFriction from the standalone statements. Returns use average balances.

P/E 8.5 is at the 23th percentile of its own 9.4-year range (median 10.1, low 4.9, high 38.7).

P/B 1.40 is at the 62th percentile (median 1.31).

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.

Period	VARDHACRLC	Nifty 50	Difference
1 week	+0.9%	-2.8%	+3.7 pts
1 month	+2.6%	-6.8%	+9.4 pts
3 months	-0.0%	-7.6%	+7.6 pts
6 months	+62.8%	+0.4%	+62.4 pts
1 year	-0.2%	-9.9%	+9.7 pts
2 years	-26.2%	-13.6%	-12.6 pts
3 years	-17.4%	+14.2%	-31.5 pts
5 years	-29.6%	+27.9%	-57.5 pts

Red flags

F-score 7 of 8

look	Profit leans on other income Other income was 52% of pre-tax profit in 2026
look	Regulator order or action Regulator order or action 2025-12-05: Vardhman Acrylics Limited has informed the Exchange about Action(s) taken or orders passed.

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 ₹78 Cr +13.0% vs Jun 2025. Net profit ₹16 Cr +700.0%.

Against our estimate for Jun 2026: sales +8.0%, profit +265.9% big beat. Our estimate for Sep 2026: sales Rs 102 Cr, profit Rs 14 Cr (how).

Activity

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No bulk or block deals on record.

Ex-date	Action	Factor
2026-08-28	Dividend - Rs 1.50 Per Share
2025-09-12	Dividend - Rs 1.50 Per Share
2024-09-06	Annual General Meeting/Dividend - Rs 2 Per Share
2023-09-15	Annual General Meeting/Dividend - Rs 2.50 Per Share
2022-09-16	Annual General Meeting
2021-10-28	Interim Dividend - Rs 25 Per Share
2021-09-16	Annual General Meeting
2020-09-17	Annual General Meeting
2019-09-18	Annual General Meeting/Dividend - Rs 2.50 Per Share
2018-09-12	Annual General Meeting/Dividend- Rs 2 Per Share
2017-09-07	Dividend - Rs 1.50 Per Share
2017-01-12	Buyback
2016-08-25	Annual General Meeting
2016-03-17	Interim Dividend - Rs 5/- Per Share (Purpose Revised)
2015-08-05	Annual General Meeting/Dividend Re 1/- Per Share
2014-08-25	Annual General Meeting / Annual Book Closure
2013-08-14	Annual General Meeting
2012-08-16	Annual General Meeting
2011-07-08	Annual General Meeting
2010-06-29	Annual General Meeting
2009-07-09	Annual General Meeting
2008-08-11	Annual General Meeting
2007-08-14	Agm
2006-08-11	Agm

Date	Type	What it says
2026-09-18	Shareholder meeting	Voting results of Annual General Meeting held on September 17, 2026.
2026-09-18	Shareholder meeting	Vardhman Acrylics Limited has submitted the Exchange a copy of Srutinizers Report of Annual General Meeting held on September 17, 2026.
2026-09-17	Shareholder meeting	Proceedings of Annual General Meeting held on September 17, 2026.
2026-09-09	Updates	Demat Report for the month ended 31st August, 2026..
2026-08-26	General Updates	Dispatch of letter to the Members of the Company.
2026-08-25	Updates	BRSR for the FY 2025-26..
2026-08-25	Shareholder meeting	Notice of Annual General Meeting to be held on September 17, 2026.
2026-08-20	Record Date	Record date for the purpose of Dividend is 28-Aug-2026.
2026-08-05	Updates	Demat Report for the month ended 31st July, 2026..
2026-07-28	Board meeting outcome	Vardhman Acrylics Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-03	Updates	Demat Report for the month ended 30th June, 2026..
2026-06-26	Shareholder meeting	Voting results of Postal Ballot
2026-06-26	Shareholder meeting	Vardhman Acrylics Limited has submitted the Exchange a copy Scrutinizers report of Postal Ballot
2026-06-06	Updates	Demat Report for the Month ended 31st May, 2026.
2026-05-27	Shareholder meeting	Notice of Postal Ballot
2026-05-21	Disclosure under SEBI Takeov	S.P. Oswal has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquis...
2026-05-04	Updates	Demat Report for the month ended April, 2026.
2026-05-02	Dividend	Board of Directors at its meeting held on May 02, 2026, recommended Final Dividend of Rs. 1.50 per equity share.
2026-05-02	Board meeting outcome	Vardhman Acrylics Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-04-07	Updates	Demat report for the month ended 31st March, 2026..
2026-03-07	Updates	Demat Report for the month ended February, 2026..
2026-02-05	Updates	Demat Report for the month ended 31.01.2026.
2026-01-20	Board meeting outcome	Vardhman Acrylics Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2026-01-06	Updates	Demat Report for the month ended 31st December, 2025.
2025-12-06	Updates	Demat Report for the month ended November, 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.

Less than 100 unique PAN traded in previous 30 days

Quick answers

What is the market cap of Vardhman Acrylics Ltd?

Vardhman Acrylics Ltd (VARDHACRLC) has a market capitalisation of Rs 356 Cr. at the 2026-10-01 close.

What is the P/E ratio of Vardhman Acrylics Ltd?

Vardhman Acrylics Ltd trades at a P/E of 8.52 on trailing twelve-month profit, at the 2026-10-01 close.

What were Vardhman Acrylics Ltd's latest quarterly results?

In the Jun 2026 quarter, Vardhman Acrylics Ltd sales was Rs 78 Cr (+13.0% vs Jun 2025) and net profit was Rs 16 Cr.

What is the 52-week high and low of Vardhman Acrylics Ltd?

The 52-week high is Rs 48.55 and the 52-week low is Rs 27.01.