VTL

Vardhman Textiles Limited

Integrated textile manufacturer of yarn, fabric, garments and technical textiles

Consumer Discretionary›Textiles›Textiles & Apparels›Other Textile Products

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

Price as of 2026-10-16

Stock price
₹531.90
Market cap
15,147 Cr
Stock P/E
17.9
P/B
1.44
Dividend yield
1.0%
ROE (FY26)
7.0%
ROCE (FY26)
8.4%
Operating margin (FY26)
7.8%
Debt / equity (FY26)
0.18
OCF / EBITDA (FY26)
89.5%
OCF / EBITDA (3Y)
48.8%

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 Textiles makes cotton yarn and fabric for export and domestic customers, and is adding garments and synthetic fabric; in its July 2026 investor presentation it describes itself as India's largest vertically integrated textile manufacturer.

Company snapshot

3rdBy market cap

Ranked among 100 companies in Other Textile Products.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 98.0% of revenue

SegmentRevenue shareRevenuePBTAssets
Acrylic Fibre
2.9%
209 Cr5 Cr—
Textiles
98.0%
7,129 Cr837 Cr—

What we see

Positives
  • ✓Debt-to-equity of 0.18x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Only 49% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.

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
Sales2,397 Cr2,330 Cr2,459 Cr2,309 Cr2,502 Cr2,465 Cr2,509 Cr2,386 Cr2,480 Cr2,505 Cr2,498 Cr2,703 Cr
Operating expenses (approx.)2,192 Cr2,085 Cr2,151 Cr1,961 Cr2,187 Cr2,153 Cr2,222 Cr2,060 Cr2,146 Cr2,221 Cr2,204 Cr2,229 Cr
EBITDA205 Cr244 Cr308 Cr348 Cr315 Cr313 Cr287 Cr326 Cr334 Cr284 Cr294 Cr474 Cr
OPM %8.6%10.5%12.5%15.1%12.6%12.7%11.4%13.7%13.5%11.3%11.8%17.5%
Other income90 Cr75 Cr67 Cr66 Cr82 Cr68 Cr120 Cr70 Cr37 Cr58 Cr58 Cr78 Cr
Interest22 Cr19 Cr29 Cr18 Cr18 Cr19 Cr23 Cr23 Cr21 Cr26 Cr23 Cr23 Cr
Depreciation104 Cr99 Cr97 Cr97 Cr100 Cr101 Cr103 Cr109 Cr114 Cr118 Cr123 Cr126 Cr
Profit before tax178 Cr212 Cr264 Cr312 Cr291 Cr273 Cr293 Cr276 Cr249 Cr214 Cr217 Cr418 Cr
Tax %23.5%23.5%23.5%23.2%32.1%22.3%18.9%24.8%24.5%21.1%12.6%24.8%
Net profit136 Cr162 Cr202 Cr240 Cr197 Cr212 Cr238 Cr208 Cr188 Cr169 Cr189 Cr315 Cr
EPS (₹)₹4.72₹5.63₹7.05₹8.38₹6.92₹7.40₹8.35₹7.28₹6.57₹5.85₹6.49₹10.88

Profit & loss (annual)

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales6,030 Cr6,248 Cr6,878 Cr6,735 Cr6,140 Cr9,622 Cr10,137 Cr9,505 Cr9,785 Cr9,869 CrSign in free for the trailing twelve months
Operating expenses (approx.)4,831 Cr5,345 Cr5,684 Cr5,798 Cr5,326 Cr7,348 Cr8,814 Cr8,531 Cr8,522 Cr8,630 CrSign in free for the trailing twelve months
EBITDA1,199 Cr903 Cr1,194 Cr937 Cr814 Cr2,274 Cr1,324 Cr973 Cr1,263 Cr1,239 CrSign in free for the trailing twelve months
OPM %19.9%14.5%17.4%13.9%13.3%23.6%13.1%10.2%12.9%12.6%Sign in free for the trailing twelve months
Other income554 Cr197 Cr223 Cr174 Cr202 Cr225 Cr192 Cr326 Cr336 Cr223 CrSign in free for the trailing twelve months
Interest129 Cr118 Cr120 Cr135 Cr113 Cr100 Cr102 Cr102 Cr77 Cr92 CrSign in free for the trailing twelve months
Depreciation343 Cr240 Cr254 Cr333 Cr364 Cr368 Cr394 Cr405 Cr401 Cr465 CrSign in free for the trailing twelve months
Profit before tax1,318 Cr760 Cr1,059 Cr655 Cr559 Cr2,071 Cr1,060 Cr835 Cr1,168 Cr955 CrSign in free for the trailing twelve months
Tax %24.6%22.0%30.1%9.8%24.4%25.1%24.1%23.7%24.1%21.1%Sign in free for the trailing twelve months
Net profit994 Cr592 Cr741 Cr591 Cr422 Cr1,551 Cr805 Cr637 Cr887 Cr753 CrSign in free for the trailing twelve months
EPS (₹)₹163.11₹106.56₹129.45₹102.22₹72.52₹54.58₹27.96₹22.20₹31.05₹26.18Sign in free for the trailing twelve months
Dividend payout %————0.1%22.5%0.1%16.6%13.4%19.4%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 capital55 Cr56 Cr56 Cr57 Cr57 Cr57 Cr57 Cr57 Cr57 Cr57 Cr
Reserves4,218 Cr4,897 Cr5,535 Cr5,991 Cr6,417 Cr7,647 Cr8,507 Cr9,043 Cr9,909 Cr10,457 Cr
Borrowings1,809 Cr2,031 Cr1,975 Cr2,003 Cr1,848 Cr1,983 Cr1,677 Cr1,791 Cr1,238 Cr1,855 Cr
Other liabilities1,307 Cr1,151 Cr1,336 Cr1,182 Cr1,172 Cr1,155 Cr1,003 Cr1,002 Cr1,228 Cr1,423 Cr
Total liabilities7,501 Cr8,244 Cr9,016 Cr9,354 Cr9,627 Cr10,979 Cr11,333 Cr11,981 Cr12,432 Cr13,866 Cr
Fixed assets (net)2,571 Cr2,615 Cr3,186 Cr3,613 Cr3,524 Cr3,490 Cr3,933 Cr3,757 Cr4,140 Cr5,084 Cr
CWIP49 Cr106 Cr274 Cr142 Cr78 Cr241 Cr51 Cr61 Cr252 Cr586 Cr
Investments1,868 Cr1,834 Cr1,346 Cr1,145 Cr1,075 Cr1,691 Cr2,549 Cr1,699 Cr1,844 Cr1,828 Cr
Loans & advances——18 Cr3 Cr1 Cr2 Cr3 Cr2 Cr2 Cr2 Cr
Inventories1,753 Cr2,257 Cr2,610 Cr2,681 Cr2,796 Cr2,882 Cr2,393 Cr4,180 Cr3,761 Cr3,643 Cr
Trade receivables734 Cr758 Cr803 Cr821 Cr1,039 Cr1,321 Cr1,191 Cr1,220 Cr1,298 Cr1,306 Cr
Cash & bank42 Cr70 Cr40 Cr215 Cr93 Cr67 Cr76 Cr34 Cr54 Cr43 Cr
Other assets484 Cr606 Cr739 Cr734 Cr1,022 Cr1,285 Cr1,138 Cr1,027 Cr1,082 Cr1,373 Cr
Total assets7,501 Cr8,244 Cr9,016 Cr9,354 Cr9,627 Cr10,979 Cr11,333 Cr11,981 Cr12,432 Cr13,866 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 activity1,350 Cr102 Cr499 Cr849 Cr168 Cr1,445 Cr1,853 Cr-1,055 Cr1,644 Cr1,108 Cr
Cash from investing-343 Cr-166 Cr-278 Cr-379 Cr-116 Cr-899 Cr-1,445 Cr1,104 Cr-892 Cr-1,516 Cr
Cash from financing-1,180 Cr92 Cr-252 Cr-296 Cr-175 Cr-571 Cr-399 Cr-90 Cr-733 Cr398 Cr
Net cash flow-173 Cr28 Cr-30 Cr175 Cr-122 Cr-26 Cr9 Cr-41 Cr19 Cr-10 Cr
Free cash flow (OCF − Capex)1,040 Cr-264 Cr-409 Cr192 Cr-75 Cr926 Cr1,231 Cr-1,339 Cr611 Cr-630 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %23.4%12.4%15.3%9.7%8.0%22.1%11.3%8.5%11.1%8.4%
ROE %22.4%11.7%12.8%9.4%6.2%19.7%9.2%6.9%8.9%7.0%
Debtor days44444344625043474848
Inventory days212239266272319211147278252246
Days payable30253236342922243334
Cash conversion cycle226258276280347232168301267261
OCF / EBITDA %112.6%11.3%41.8%90.6%20.7%63.5%139.9%-108.4%130.2%89.5%
OCF / EBITDA % (3 years)——59.2%47.8%51.5%61.2%78.6%49.1%68.6%48.8%
Debt / equity0.420.410.350.330.290.260.200.200.120.18
Current ratio1.842.702.512.993.643.034.003.124.634.15
Net debt / EBITDA1.47—1.621.912.160.841.211.810.941.46
Vardhman Textiles Limited (VTL) Financials | BullKarma