On 6 Nov 2026, Vadilal Industries was priced at ₹7,107.50, or 21.2× trailing earnings, against an industry P/E of 19.5×, and the shares are 16% below their 52-week high. It earns ROCE of 21% and ROE of 27%, and sales and net profit grew 12% and 17% a year over 3 years. Its dividend yield is 0.6%, and debt is 0.27× equity. It is a small-cap company with a market cap of ₹5,109 Cr, ranked 22nd of 127 Packaged Foods companies by market cap; the shares rose 32% over the past year.
- ₹7,123.50
- ₹7,150.00
- ₹6,946.50
- ₹7,123.50
- 14.7K
Health check
- ReturnsAhead
+31.6% over a year, better than 6 of 7 peers.
- Price tagIn line
P/E 21.2 vs industry 19.5.
- GrowthSteady
Sales +12.4%, profit +17.2% a year over 3 years.
- ProfitabilityStrong
ROCE 20.8% vs peer median 15.3%.
- Balance sheetSolid
Debt 0.27× equity, interest covered 14.6×, Piotroski 6 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹5,109 Cr
- Small cap
- P/E
- 21.2
- Industry 19.5
- Price to book
- 5.13
- Peers 8.88
- Dividend yield
- 0.61%
- ROE
- 27.0%
- Peers 14.8%
- ROCE
- 20.8%
- Peers 15.3%
- Debt to equity
- 0.27
- Debt ₹272 Cr
- EPS (TTM)
- ₹334.72
- Face value ₹10
- OPM (TTM)
- 19.2%
- Net margin 13.4%
- Sales growth
- +35.2%
- Latest quarter vs a year ago
- Profit growth
- +64.0%
- Latest quarter vs a year ago
- Price to sales
- 2.84
- EV/EBITDA 15.4
Strengths and risks
Strengths
- Return on equity of 27.0%.
- Return on capital employed of 20.8%.
- Quarterly profit up 64.0% on a year ago.
- Quarterly sales up 35.2% on a year ago.
- Positive operating cash flow in each of the last 4 years.
About Vadilal Industries
Vadilal Industries Limited, together with its subsidiaries, manufactures and sells ice-cream in India and internationally. The company offers flavored milk under the Power Sip brand; frozen desserts; processed food products, such as frozen fruits, vegetables, pulps, and ready-to-eat and ready-to-serve products, etc.; and other dairy products, as well as paneer and ghee products. It is also involved in money changing and chemical businesses. It provides…
- Headquarters
- Ahmedabad
- Employees
- 704
- Sector
- Consumer Defensive
- ISIN
- INE694D01016
- Website
- vadilalgroup.com
Price range
- Avg volume (3M)
- 21.1K
- 1-year return
- plus 31.6%
- From 52-week high
- minus 15.9%
Peers · Packaged Foods
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NESTLEINDNestle India | 1,282.10 | plus 1.89% | 2,47,229 | 60.6 | 42.76 | – | 79.9% | 21.0% | – | – | 0.94% | minus 0.5% |
| BRITANNIABritannia Industries | 4,785.00 | minus 3.92% | 1,15,255 | 43.2 | 27.13 | 61.2% | 66.7% | 18.4% | 5.7% | 3.0% | 1.89% | minus 15.5% |
| TATACONSUMTata Consumer Products | 1,086.30 | plus 0.80% | 1,07,511 | 63.3 | 4.86 | 8.3% | 7.6% | 14.0% | 13.9% | 8.6% | 0.92% | minus 8.6% |
| PATANJALIPatanjali Foods | 411.50 | plus 0.19% | 44,776 | 22.7 | 3.42 | 11.2% | 14.8% | 4.2% | 8.7% | 27.0% | 0.98% | minus 28.6% |
| HATSUNHatsun Agro Product | 1,068.10 | plus 0.33% | 23,792 | 66.0 | 12.07 | 20.2% | 19.0% | 10.7% | 11.2% | 29.0% | 1.87% | plus 2.4% |
| MILKYMISTMilky Mist Dairy Food | 297.20 | plus 0.93% | 22,880 | 91.2 | 8.88 | – | 9.7% | 10.1% | – | – | 0.00% | plus 63.7% |
| AWLAWL Agri Business | 167.00 | minus 0.48% | 21,573 | 18.7 | 1.98 | 15.3% | 11.1% | 2.9% | 8.7% | 21.4% | 0.60% | minus 39.5% |
| VADILALINDVadilal Industries | 7,107.50 | minus 0.22% | 5,109 | 21.2 | 5.13 | 20.8% | 27.0% | 19.2% | 12.4% | 17.2% | 0.61% | plus 31.6% |
| Median of 7 peers | – | 0.33% | 44,776 | 60.6 | 8.88 | 15.3% | 14.8% | 10.7% | 8.7% | 21.4% | 0.94% | −8.6% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 342 | 238 | 416 | 680 | 463 | |
| 290 | 227 | 331 | 514 | 379 | |
| 52 | 10.6 | 85.1 | 166 | 83.8 | |
| 15.2% | 4.5% | 20.5% | 24.4% | 18.1% | |
| 6.6 | 5 | 6.9 | 27.3 | 8 | |
| 3.9 | 4 | 4.7 | 4.4 | 4.3 | |
| 11.6 | 11.8 | 13.8 | 15.4 | 14.7 | |
| 43.2 | −0.1 | 73.5 | 174 | 72.8 | |
| 22.6% | −150.0% | 25.3% | 24.6% | 24.7% | |
| 33.4 | −0.2 | 54.9 | 131 | 54.8 | |
| 46.50 | – | 76.32 | 182.13 | 76.27 |
Profit & loss
- Sales CAGR 3Y
- +12.4%
- Profit CAGR 3Y
- +17.2%
- EPS CAGR 3Y
- +17.2%
- ROE
- 27.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,055 | 1,123 | 1,235 | 1,497 | |
| – | +6.4% | +10.0% | +21.3% | |
| 879 | 896 | 990 | 1,244 | |
| 176 | 226 | 245 | 253 | |
| 16.7% | 20.2% | 19.8% | 16.9% | |
| 1.9 | 2.6 | 7.3 | 12.9 | |
| 14.6 | 15.5 | 12.4 | 15.1 | |
| 29.9 | 34.9 | 42.2 | 48.8 | |
| −2.9 | 1.4 | 2.5 | 2.9 | |
| 131 | 180 | 200 | 205 | |
| 26.2% | 18.9% | 24.7% | 24.5% | |
| 96.3 | 146 | 150 | 155 | |
| – | +51.6% | +3.0% | +3.2% | |
| 133.97 | 203.06 | 209.15 | 215.78 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 7.2 | 7.2 | 7.2 | 7.2 | |
| 390 | 535 | 688 | 843 | |
| 290 | 223 | 218 | 230 | |
| 150 | 152 | 183 | 193 | |
| 838 | 917 | 1,096 | 1,273 | |
| 423 | 467 | 543 | 601 | |
| 22.9 | 25.8 | 67.3 | 79.1 | |
| 5 | 5.1 | 5.1 | 5.4 | |
| 31.9 | 54.2 | 36.3 | 52.4 | |
| 355 | 365 | 445 | 535 | |
| 838 | 917 | 1,096 | 1,273 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 39.5 | 192 | 111 | 143 | |
| −61.9 | −66 | −58.5 | −108 | |
| 9 | −114 | −60.7 | −37.7 | |
| −13.4 | 12.2 | −7.7 | −2.2 | |
| −58.4 | −59.5 | −80.4 | −96.6 | |
| −18.9 | 132 | 31.1 | 46.5 | |
| −0.9 | −1.1 | −1.1 | −15.1 |
Shareholding pattern
- Promoters64.72%
- Public35.28%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 64.72% | 35.28% | minus 0.01 | |
| 30 Jun 2026 | 64.73% | 35.27% | 0.00 | |
| 31 Mar 2026 | 64.73% | 35.27% | plus 0.01 | |
| 31 Dec 2025 | 64.72% | 35.28% | minus 0.01 | |
| 30 Sep 2025 | 64.73% | 35.27% | – |
Major shareholders
Filings & events
News
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