VHL

Vardhman Holdings Limited

Vardhman Holdings Limited (VHL) financial statements and selected valuation metrics through 30 June 2026.

Financial Services›Financial Services›Finance›Investment Company

vardhman.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹3740.40
Market cap
1,194 Cr
Stock P/E
4.7
P/B
0.32
Dividend yield
0.1%
ROE (FY26)
5.7%
ROCE (FY26)
6.1%
Operating margin (FY26)
83.3%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Vardhman Holdings is an investment company: it earns dividends, interest and gains on shares and funds it holds instead of running a business of its own.

Company snapshot

17thBy market cap

Ranked among 41 companies in Investment Company.

What we see

Positives
  • ✓Net margin of 1763.3% — the business keeps a healthy share of every rupee it earns.
Concerns
  • ✗Operating cash flow is negative even though the company shows a profit — the business may not be generating real cash yet.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Net Interest Income0.17 Cr—0.57 Cr0.10 Cr0.10 Cr0.72 Cr0.27 Cr0.16 Cr0.11 Cr0.11 Cr0.19 Cr0.21 Cr
Other income0.51 Cr0.38 Cr1 Cr0.44 Cr0.48 Cr0.46 Cr0.48 Cr0.45 Cr0.47 Cr0.47 Cr0.48 Cr0.51 Cr
Net operating income0.68 Cr0.38 Cr2 Cr0.54 Cr0.58 Cr1 Cr0.75 Cr0.61 Cr0.58 Cr0.58 Cr0.67 Cr0.72 Cr
Employee cost0.12 Cr0.18 Cr0.11 Cr0.14 Cr0.17 Cr0.16 Cr0.15 Cr0.16 Cr0.17 Cr0.19 Cr0.22 Cr0.20 Cr
Other expenses0.62 Cr0.22 Cr3 Cr1 Cr2 Cr1 Cr0.83 Cr0.16 Cr0.19 Cr0.32 Cr0.63 Cr0.55 Cr
Provisions & contingencies————————————
Depreciation0 Cr0 Cr0 Cr0 Cr0 Cr0.01 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Profit before tax69 Cr54 Cr26 Cr74 Cr62 Cr66 Cr70 Cr63 Cr57 Cr55 Cr53 Cr100 Cr
Tax %10.1%1.6%0.6%1.7%20.5%0.9%0.6%1.4%19.8%2.1%-0.3%2.3%
Net profit62 Cr54 Cr26 Cr73 Cr49 Cr66 Cr70 Cr63 Cr46 Cr54 Cr54 Cr98 Cr
EPS (₹)₹194.03₹167.97₹80.15₹229.14₹154.73₹206.02₹218.51₹196.08₹144.50₹168.28₹167.97₹307.27

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Net Interest Income——5 Cr6 Cr8 Cr4 Cr3 Cr1 Cr1 Cr0.56 CrSign in free for the trailing twelve months
Other income—1 Cr1 Cr1 Cr1 Cr2 Cr2 Cr2 Cr2 Cr2 CrSign in free for the trailing twelve months
Net operating income—1 Cr6 Cr7 Cr9 Cr6 Cr5 Cr4 Cr3 Cr2 CrSign in free for the trailing twelve months
Employee cost—0.41 Cr0.41 Cr0.54 Cr0.56 Cr0.82 Cr1 Cr0.48 Cr0.62 Cr0.74 CrSign in free for the trailing twelve months
Other expenses—6 Cr3 Cr5 Cr2 Cr2 Cr3 Cr4 Cr6 Cr1 CrSign in free for the trailing twelve months
Provisions & contingencies——————————Sign in free for the trailing twelve months
Depreciation—0.01 Cr0.01 Cr0.01 Cr0.01 Cr0.01 Cr0.01 Cr0.01 Cr0.01 Cr0.01 CrSign in free for the trailing twelve months
Profit before tax—192 Cr202 Cr161 Cr133 Cr459 Cr225 Cr194 Cr273 Cr229 CrSign in free for the trailing twelve months
Tax %—1.7%0.1%0.8%2.8%6.6%-1.6%4.8%5.5%5.8%Sign in free for the trailing twelve months
Net profit—189 Cr202 Cr160 Cr130 Cr429 Cr228 Cr185 Cr258 Cr216 CrSign in free for the trailing twelve months
EPS (₹)—₹591.53₹632.39₹500.43₹405.80₹1344.46₹715.75₹579.28₹808.40₹676.83Sign in free for the trailing twelve months
Dividend payout %————0.0%0.4%0.7%0.9%0.6%0.7%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr
Reserves1,545 Cr1,732 Cr1,994 Cr2,122 Cr2,303 Cr2,774 Cr3,096 Cr3,294 Cr3,537 Cr3,762 Cr
Borrowings——————————
Other liabilities5 Cr5 Cr5 Cr4 Cr2 Cr0.68 Cr1 Cr0.60 Cr0.53 Cr4 Cr
Total liabilities1,553 Cr1,740 Cr2,003 Cr2,130 Cr2,307 Cr2,778 Cr3,101 Cr3,298 Cr3,541 Cr3,769 Cr
Fixed assets (net)0.82 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr
CWIP——0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr—0 Cr
Investments1,506 Cr1,688 Cr1,952 Cr1,979 Cr2,167 Cr2,738 Cr3,065 Cr3,270 Cr3,528 Cr3,758 Cr
Trade receivables——4 Cr0 Cr0 Cr0 Cr0 Cr0 Cr—0 Cr
Cash & bank1 Cr2 Cr2 Cr5 Cr76 Cr3 Cr3 Cr3 Cr0.49 Cr0.42 Cr
Other assets45 Cr48 Cr41 Cr142 Cr61 Cr34 Cr29 Cr22 Cr10 Cr8 Cr
Total assets1,553 Cr1,740 Cr2,003 Cr2,130 Cr2,307 Cr2,778 Cr3,101 Cr3,298 Cr3,541 Cr3,769 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-34 Cr2 Cr6 Cr-95 Cr82 Cr-4 Cr1 Cr-3 Cr-6 Cr-6 Cr
Cash from investing36 Cr0.08 Cr-3 Cr99 Cr-10 Cr-69 Cr2 Cr4 Cr5 Cr7 Cr
Cash from financing-1 Cr-2 Cr-2 Cr-2 Cr-0.02 Cr-2 Cr-2 Cr-2 Cr-2 Cr-2 Cr
Net cash flow0.69 Cr0.37 Cr0.64 Cr2 Cr72 Cr-74 Cr2 Cr-0.10 Cr-2 Cr-0.07 Cr
Free cash flow (OCF − Capex)-34 Cr-0.40 Cr6 Cr-95 Cr82 Cr-4 Cr1 Cr-3 Cr-6 Cr-6 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—11.1%10.1%7.6%5.8%16.5%7.3%5.9%7.7%6.1%
ROE %—10.9%10.1%7.5%5.6%15.5%7.4%5.6%7.3%5.7%
Debtor days——16400000—0
Inventory days——00000000
Days payable——————————
Cash conversion cycle——1640000000
Debt / equity——0.00———————
Current ratio79.2250.00————————
Net debt / EBITDA——-0.37-0.73-4.36-0.09-1.94-0.27-0.03-0.04