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Vardhman Polytex (VARDMNPOLY) had a P/E of 0.8× on 6 Nov 2026, below the industry P/E of 17.0×, and the shares are 46% below their 52-week high. It earns ROCE of 14%, and sales fell 27% a year over 3 years while net profit grew 73%, though net profit is above operating profit, which points to a one-off gain. Its net worth is negative, as liabilities exceed assets, and borrowings are ₹370 Cr. It is a small-cap company with a market cap of ₹252 Cr, ranked 79th of 246 Textile Manufacturing companies by market cap; the shares fell 36% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Jun 2026.How we calculate this

past year
Open
₹5.16
Day high
₹5.16
Day low
₹4.90
Prev. close
₹5.02
Volume
3.5 L

Health check

1 fair · 4 to check
  • ReturnsBehind

    −35.7% over a year, better than 0 of 7 peers.

  • Price tagNegative equity

    Book value is below zero, so P/E and P/B mislead here.

  • GrowthSteady

    Sales −27.3%, profit +72.7% a year over 3 years.

  • ProfitabilityDistorted

    With negative net worth, return ratios are meaningless.

  • Balance sheetStretched

    Negative net worth: liabilities exceed assets.

  • Red flags4 to check

    Negative net worth: liabilities exceed assets.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Textile Manufacturing

245 listed peers. Screen the industry

Small cap

₹252 Cr, #79 of 246 in its industry by size.

Defensive

Beta 0.61 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Jun 2026: sales ₹238 Cr · profit ₹319 Cr
Market cap
₹252 Cr
Small cap
P/E
0.8
Industry 17.0
Price to book
−1.11
Peers 3.81
Dividend yield
0.00%
ROE
n/a
Peers 10.1%
ROCE
14.0%
Peers 10.7%
Debt to equity
n/a
Debt ₹370 Cr
EPS (TTM)
₹6.60
Face value ₹1
OPM (TTM)
4.7%
Net margin 133.9%
Sales growth
+2.0%
Latest quarter vs a year ago
Profit growth
+159894.9%
Latest quarter vs a year ago
Price to sales
1.06
EV/EBITDA 58.1

Strengths and risks

Strengths

  • Quarterly profit up 159894.9% on a year ago.
  • Promoter stake up from 37.5% to 40.6%.

Risks to check

  • Negative net worth: liabilities exceed assets.
  • Net profit is above operating profit, so a one-off gain is likely flattering earnings.
  • 46% below its 52-week high.
  • Interest coverage of only 1.6×.

Derived automatically from reported figures. Not a recommendation.

About Vardhman Polytex

Vardhman Polytex Limited manufactures and sells yarns and garments in India. It operates through Textiles and Real Estate segments. The company offers carded, combed, organic, and BCI cotton yarns; cotton polyester yarns; and grey and dyed value-added yarns. Vardhman Polytex Limited was incorporated in 1980 and is based in Ludhiana, India.

Headquarters
Ludhiana
Employees
473
Sector
Consumer Cyclical
ISIN
INE835A01029
Website
oswalgroup.com

Price range

52 weeks

₹4.50₹9.09

Today

₹4.90₹5.16
Avg volume (3M)
3.2 L
1-year return
minus 35.7%
From 52-week high
minus 45.5%

Peers · Textile Manufacturing

Compare with peersScreen the whole industry
Company
KPRMILLK.P.R. Mill1,164.40minus 0.25%39,88338.36.4120.0%18.0%22.1%2.3%2.1%0.43%plus 10.5%
WELSPUNLIVWelspun Living241.30minus 4.75%22,71752.84.475.8%8.8%28.7%5.7%0.9%0.04%plus 96.2%
VTLVardhman Textiles508.80minus 4.89%14,72914.31.388.6%7.3%13.7%−0.8%−2.1%0.98%plus 22.2%
ARVINDArvind494.75minus 0.58%12,96928.43.1015.4%11.1%10.9%3.4%0.8%0.91%plus 57.3%
TRIDENTTrident23.88plus 0.08%12,16825.42.5310.7%10.1%14.9%1.8%−5.1%2.09%minus 16.6%
ICILIndo Count Industries489.85minus 2.25%9,70239.83.819.5%5.5%9.7%11.6%−22.9%0.31%plus 78.7%
GARFIBRESGarware Technical Fibres715.65minus 2.13%6,98829.84.9719.3%15.3%19.2%5.6%4.9%1.26%minus 3.9%
VARDMNPOLYVardhman Polytex4.95minus 1.39%2520.8−1.1114.0%–4.7%−27.3%72.7%0.00%minus 35.7%
Median of 7 peers–−2.13%12,96929.83.8110.7%10.1%14.9%3.4%0.8%0.91%22.2%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Sep 25Dec 25Mar 26Jun 26
59.561.750.664.860.7
57.95150.563.262
1.710.80.11.7−1.3
2.8%17.4%0.2%2.6%−2.1%
3.71.72.21.58.2
3.74.30.50.63.5
1.51.81.81.71.7
––––310
0.26.50.10.9311
0.26.50.10.9311
0.000.14–0.026.44

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
−27.3%
Profit CAGR 3Y
+72.7%
EPS CAGR 3Y
+42.2%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
616371285236
–minus 39.8%minus 23.1%minus 17.2%
651412273222
−35.7−41.91214.2
−5.8%−11.3%4.2%6.0%
3.512.111.23
51.23.414.19
12.210.596.7
97.116.914.86.2
1.5−26.814.97.7
1.5−26.814.97.7
–minus 1894.3%–minus 48.5%
0.06-1.060.450.17

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
22.327.345.948.3
−385−388−273−245
447391374370
206245129110
291276276283
15513012395
0.30.72.6–
0000
0.41.10.40.3
136144150188
291276276283

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
40.3−13.8−98.3−30.3
−0.626.330.620.2
−39.4−11.86710
0.30.7−0.7−0.2
−1.2−0.2−4.7−12.7
39.1−14−103−43

Shareholding pattern

Source: NSE filings
40.6%
promoters
  • Promoters40.63%
  • Public59.37%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202640.63%59.37%0.00
17 Sep 202640.63%59.37%plus 3.13
30 Jun 202637.50%62.50%0.00
31 Mar 202637.50%62.50%0.00
26 Mar 202637.50%62.50%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you