Price
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 | 101 | 61 | 74 | 64 | 64 | 75 | 81 | 60 | 62 | 51 | 65 | 61 |
| Expenses | 121 | 78 | 75 | 73 | 68 | 49 | 83 | 58 | 51 | 50 | 63 | 62 |
| Operating Profit | -20 | -18 | -1 | -9 | -4 | 27 | -2 | 2 | 11 | 0 | 2 | -1 |
| OPM % | -20% | -29% | -1.3% | -14% | -6% | 35% | -2.4% | 2.8% | 17% | 0.2% | 2.6% | -2.1% |
| Other Income | 2 | 3 | 5 | 5 | 9 | 3 | 9 | 4 | 2 | 2 | 1 | 318 |
| Interest | 13 | -23 | 0 | 4 | 3 | 4 | 3 | 4 | 4 | 0 | 1 | 4 |
| Depreciation | 3 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | -34 | 5 | 1 | -11 | 1 | 24 | 1 | 0 | 6 | 0 | 1 | 311 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | -34 | 5 | 1 | -11 | 1 | 24 | 1 | 0 | 6 | 0 | 1 | 311 |
| EPS in Rs | -1.07 | 0.15 | 0.03 | -0.30 | 0.02 | 0.55 | 0.02 | 0.00 | 0.14 | 0.00 | 0.02 | 6.44 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 876 | 859 | 618 | 808 | 560 | 507 | 928 | 615 | 376 | 285 | 237 | 238 |
| Expenses | 814 | 792 | 659 | 807 | 560 | 493 | 868 | 651 | 418 | 273 | 222 | 227 |
| Operating Profit | 62 | 66 | -41 | 1 | -0 | 14 | 59 | -36 | -42 | 12 | 14 | 11 |
| OPM % | 7% | 8% | -7% | 0.1% | -0.1% | 2.8% | 6% | -6% | -11% | 4.2% | 6% | 4.7% |
| Other Income | 50 | 14 | -295 | 3 | 177 | 3 | 3 | 103 | 29 | 26 | 9 | 323 |
| Interest | 74 | 60 | 68 | 60 | 60 | 59 | 64 | 53 | 3 | 14 | 9 | 9 |
| Depreciation | 28 | 21 | 21 | 18 | 16 | 15 | 14 | 12 | 10 | 9 | 7 | 7 |
| Profit before tax | 9 | -1 | -424 | -74 | 102 | -57 | -16 | 2 | -27 | 15 | 8 | 319 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | |
| Net Profit | 9 | -1 | -424 | -74 | 102 | -57 | -16 | 1 | -27 | 15 | 8 | 319 |
| EPS in Rs | 0.31 | -0.02 | -14.57 | -2.55 | 3.50 | -1.95 | -0.53 | 0.05 | -0.75 | 0.33 | 0.16 | 6.60 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | -12% | -14% | -27% | -15% | ||
| Compounded Profit Growth | -14% | 15% | 26% | -65% | ||
| Stock Price CAGR | 3% | 24% | 4% | -32% | ||
| Return on Equity | % | % | % | % |
| 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 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 27 | 46 | 48 |
| Reserves | 106 | 85 | 85 | -339 | -414 | -313 | -370 | -386 | -385 | -388 | -273 | -245 |
| Borrowings | 451 | 405 | 396 | 448 | 446 | 490 | 523 | 529 | 447 | 76 | 50 | 55 |
| Other Liabilities | 118 | 115 | 122 | 264 | 269 | 113 | 130 | 161 | 206 | 560 | 454 | 425 |
| Total Liabilities | 697 | 627 | 626 | 395 | 324 | 313 | 306 | 326 | 291 | 276 | 276 | 283 |
| Fixed Assets | 258 | 239 | 244 | 229 | 211 | 195 | 182 | 170 | 159 | 130 | 114 | 95 |
| CWIP | 4 | 7 | 5 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 0 |
| Investments | 92 | 92 | 92 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 344 | 290 | 285 | 163 | 112 | 117 | 123 | 156 | 133 | 146 | 160 | 188 |
| Total Assets | 697 | 627 | 626 | 395 | 324 | 313 | 306 | 326 | 291 | 276 | 276 | 283 |
| 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 | 76 | 108 | 76 | 49 | 63 | 13 | 24 | 61 | 40 | -14 | -98 | -30 |
| Cash from Investing Activity | 1 | -7 | -20 | -5 | -1 | 0 | -1 | -1 | -1 | 26 | 31 | 20 |
| Cash from Financing Activity | -79 | -104 | -55 | -50 | -64 | -14 | -23 | -61 | -39 | -12 | 67 | 10 |
| Net Cash Flow | -2 | -4 | 1 | -5 | -1 | -0 | -0 | 0 | 0 | 1 | -1 | -0 |
| Free Cash Flow | 65 | 98 | 51 | 43 | 62 | 13 | 22 | 61 | 39 | 12 | -75 | -28 |
| CFO/OP | 122% | 175% | 114% | -122% | 7,369% | -3,834% | 167% | 104% | -111% | 33% | -824% | -213% |
| 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 | 20 | 31 | 33 | 16 | 4 | 4 | 6 | 4 | 0 | 0 | 5 | 5 |
| Inventory Days | 77 | 44 | 47 | 32 | 12 | 18 | 19 | 23 | 11 | 19 | 77 | 163 |
| Days Payable | 38 | 39 | 42 | 31 | 26 | 53 | 74 | 54 | 99 | 209 | 171 | 156 |
| Cash Conversion Cycle | 59 | 36 | 38 | 18 | -10 | -31 | -49 | -26 | -88 | -190 | -88 | 12 |
| Working Capital Days | -35 | -54 | -68 | -284 | -295 | -358 | -430 | -233 | -346 | -167 | -88 | -52 |
| ROCE % | 9% | 15% | 12% | -18% | -16% | -10% | 1% | 28% | -34% |
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 49.14% | 49.14% | 49.14% | 49.14% | 30.75% | 34.22% | 34.22% | 34.22% | 34.22% | 37.50% | 37.50% | 40.63% |
| FIIs | 0.65% | 0.38% | 0.24% | 0.32% | 0.64% | 0.54% | 0.21% | 0.33% | 0.46% | 5.62% | 5.62% | 5.34% |
| DIIs | 0.01% | 0.01% | 0.01% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public | 50.20% | 50.47% | 50.62% | 50.53% | 68.60% | 65.24% | 65.58% | 65.45% | 65.33% | 56.87% | 56.87% | 54.03% |
| No. of Shareholders | 13,529 | 13,371 | 19,674 | 23,189 | 26,802 | 26,725 | 30,510 | 32,771 | 33,681 | 33,997 | 34,136 | 34,445 |
Fundamentals
Market Cap₹ 296 Cr.
Current Price₹ 5.81
Stock P/E32.5
Book Value₹ -4.08
ROCE%
ROE%
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)-15%
Compounded Profit Growth (TTM)-65%
Standalone figures.
Valuation
Market capRs 275 Cr
Enterprise valueRs 330 Cr
P/E (TTM)0.86x
Price to book-1.40x
Price to sales1.16x
EV / EBITDA0.99x
EV / EBIT1.01x
EV / sales1.39x
Earnings yield115.75%
P/E, 3-year average33.59x
P/B, 3-year average-1.12x
P/E, 5-year average23.47x
P/B, 5-year average-0.68x
Profitability
Operating margin (excl. other income)6.01%
Operating margin (incl. other income)9.88%
EBITDA margin140.56%
Pre-tax margin133.94%
Net profit margin133.94%
Net margin, latest quarter512.25%
ROE-3.62%
ROA2.75%
ROE, 3-year average-0.43%
ROA, 3-year average-0.43%
ROE, 5-year average0.53%
ROCE, 5-year average36.19%
ROA, 5-year average-1.14%
Other income / net worth-4.65%
Growth
Sales growth (latest year)-16.86%
Profit growth (latest year)-48.53%
Sales CAGR, 3 years-27.27%
Sales CAGR, 5 years-14.14%
Profit CAGR, 3 years72.74%
Sales growth QoQ-6.32%
Profit growth QoQ35262.50%
Sales growth YoY (latest quarter)2.03%
Profit growth YoY (latest quarter)163684.21%
Per share
EPS (TTM)Rs 6.60
EPS (latest year)Rs 0.16
EPS (latest quarter)Rs 6.44
EPS, 3-year averageRs -3.11
EPS, 5-year averageRs -3.13
Book value per shareRs -4.08
Sales per shareRs 4.93
Cash flow per shareRs -0.63
Free cash flow per shareRs -0.58
Efficiency
Asset turnover0.84x
Fixed asset turnover2.48x
Inventory turnover2.53x
Inventory days144 days
Debtor days5 days
Debtors turnover70.01x
Creditor days156 days
Cash conversion cycle12 days
Working capital days-52 days
Leverage
Total debtRs 55 Cr
Cash and bankRs 0 Cr
Net debtRs 55 Cr
Debt to equity-0.28x
Net debt / EBITDA0.16x
Interest coverage37.17x
Owners' fund to total sources-69.64%
Debt to assets19.47%
Cash flow
Cash from Operating Activity (latest year)Rs -30 Cr
Cash from Investing Activity (latest year)Rs 20 Cr
Cash from Financing Activity (latest year)Rs 10 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs -28 Cr
FCFE (approx.: FCF + change in debt)Rs -23 Cr
Statement figures
Net sales (TTM)Rs 238 Cr
Net sales (latest year)Rs 237 Cr
Sales (latest quarter)Rs 61 Cr
Operating profit excl. other income (latest year)Rs 14 Cr
Operating profit (latest quarter)Rs -1 Cr
Other income (TTM)Rs 323 Cr
EBITDA (TTM)Rs 334 Cr
PBDT (TTM)Rs 326 Cr
Profit before tax (TTM)Rs 319 Cr
Net profit (TTM)Rs 319 Cr
Net profit (latest year)Rs 8 Cr
Net profit (latest quarter)Rs 311 Cr
Depreciation (TTM)Rs 7 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 9 Cr
Cost of goods sold (latest year)Rs 199 Cr
Total expenditure (latest year)Rs 222 Cr
Total income (latest year)Rs 246 Cr
Share capitalRs 48 Cr
ReservesRs -245 Cr
Shareholders' fundsRs -197 Cr
Total assetsRs 283 Cr
Net blockRs 95 Cr
InvestmentsRs 0 Cr
ReceivablesRs 3 Cr
InventoryRs 79 Cr
Other liabilitiesRs 425 Cr
Shares outstanding (crore)48.30
Ownership
Promoter holding40.63% (+6.41 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 0.9 is at the 20th percentile of its own 3.8-year range
(median 31.3, low 0.4, high 309.6).
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 | VARDMNPOLY | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -1.9% | -2.8% | +0.9 pts |
| 1 month | -4.8% | -6.8% | +2.0 pts |
| 3 months | -16.7% | -7.6% | -9.0 pts |
| 6 months | -11.9% | +0.4% | -12.3 pts |
| 1 year | -33.3% | -9.9% | -23.4 pts |
| 2 years | -53.9% | -13.6% | -40.4 pts |
| 3 years | -1.6% | +14.2% | -15.7 pts |
| 5 years | +143.6% | +27.9% | +115.7 pts |
Red flags
F-score 2 of 8| serious | Negative equity Shareholders' equity is negative |
| explain | High accruals Profit exceeded operating cash by 13% of total assets in 2026 |
| explain | Share dilution Share count up 5% in a year, 66% in three |
| look | Inventory outrunning sales Inventory grew 80% vs sales -17% in 2026 |
| look | Profit leans on other income Other income was 119% of pre-tax profit in 2026 |
| look | Auditor change Auditor change 2026-05-29: Vardhman Polytex Limited has informed the Exchange regarding Change in Auditors of the company. |
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.
Insider trades
NSE insider and takeover-code disclosures| Date | Who | Role | Side | Shares | Value | How |
|---|---|---|---|---|---|---|
| 2026-09-17 | Oswal Holding Private Limited alon | Promoter group | buy | 14,775,000 | SAST Others |
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.
Latest quarter
Jun 2026Sales ₹61 Cr +1.7% vs Jun 2025.
Net profit ₹311 Cr.
Against our estimate for Jun 2026: sales +37.2%, profit +90806.9% big beat. Our estimate for Sep 2026: sales Rs 56 Cr, profit Rs 3 Cr (how).
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| K P R Mill Ltd | 36,967 | 40.5 | 19.6 % |
| Welspun Living Ltd | 21,277 | 76.5 | 6.26 % |
| Vardhman Textiles Ltd | 15,335 | 18.1 | 8.55 % |
| Trident Ltd | 11,461 | 29.0 | 9.79 % |
| Indo Count Industries Ltd | 8,614 | 57.1 | 8.19 % |
| Garware Technical Fibres Ltd | 7,361 | 33.4 | 22.0 % |
| Kusumgar Ltd | 6,378 | 50.7 | 18.8 % |
| Filatex India Ltd | 4,973 | 25.9 | 19.1 % |
| Jindal Worldwide Ltd | 4,719 | 55.7 | 8.63 % |
| Sanathan Textiles Ltd | 4,352 | 71.6 | 6.89 % |
| Raymond Lifestyle Ltd | 4,026 | 27.0 | 3.52 % |
| Alok Industries Ltd | 3,501 | -3.95 % | |
| Nitin Spinners Ltd | 3,403 | 16.1 | 12.2 % |
| Sangam (India) Ltd | 3,248 | 25.8 | 10.7 % |
| Ganesha Ecosphere Ltd | 2,703 | 47.8 | 5.58 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2024-09-23 | Annual General Meeting | |
| 2024-08-28 | Rights 7:23 @ Premium Rs 5/- | |
| 2024-05-17 | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share | 0.1000 |
| 2023-08-11 | Annual General Meeting | |
| 2022-09-19 | Annual General Meeting | |
| 2021-09-21 | Annual General Meeting | |
| 2020-09-23 | Annual General Meeting | |
| 2019-09-18 | Annual General Meeting | |
| 2018-09-14 | Annual General Meeting | |
| 2017-08-31 | Annual General Meeting | |
| 2016-09-22 | Annual General Meeting | |
| 2015-09-21 | Annual General Meeting | |
| 2014-09-22 | Annual General Meeting | |
| 2013-09-23 | Annual General Meeting | |
| 2012-09-24 | Annual General Meeting | |
| 2011-08-23 | Annual General Meeting | |
| 2010-08-13 | Annual General Meeting | |
| 2009-09-17 | Annual General Meeting | |
| 2008-09-18 | Agm/Dividend - 20% | |
| 2007-08-30 | Agm/Final Dividend-7% | |
| 2007-03-23 | Interim Dividend-35% Purpose Revised | |
| 2006-07-13 | Agm/Dividend-42% |
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 date | Forum | Case |
|---|---|---|
| 2021-08-09 | NCLT | Jai Durga Kraft Papers Pvt.Ltd. Vs Vardhman Polytex Ltd. |
| 2021-08-09 | NCLT | Manu Engineering and Traders Vs Vardhman Polytex Ltd. |
| 2021-03-19 | NCLT | Basantlal Banarsilal Pvt. Ltd. Vs Vardhman Polytex Ltd. |
| 2021-03-01 | NCLT | Jammu & Kashmir Bank Ltd. Vs Vardhman Polytex Ltd. |
| 2021-02-10 | NCLT | Jammu & Kashmir Bank Ltd. Vs Vardhman Polytex Ltd. |
| 2021-02-08 | NCLT | PNB Vs Vardhman Polytex Ltd. |
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Vardhman Polytex Ltd?
Vardhman Polytex Ltd (VARDMNPOLY) has a market capitalisation of Rs 296 Cr. at the 2026-10-01 close.
What is the P/E ratio of Vardhman Polytex Ltd?
Vardhman Polytex Ltd trades at a P/E of 32.5 on trailing twelve-month profit, at the 2026-10-01 close.
What were Vardhman Polytex Ltd's latest quarterly results?
In the Jun 2026 quarter, Vardhman Polytex Ltd sales was Rs 61 Cr (+1.7% vs Jun 2025) and net profit was Rs 311 Cr.
What is the 52-week high and low of Vardhman Polytex Ltd?
The 52-week high is Rs 9.49 and the 52-week low is Rs 5.10.