Vardhman Holdings share price, P/E, ROE & financials

On 6 Nov 2026, Vardhman Holdings was priced at ₹3,400.20, or 4.3× trailing earnings, against an industry P/E of 25.9×, and the shares are 16% below their 52-week high. It earns ROCE of 6.1% and ROE of 5.9%, and sales and net profit fell 28% and 1.8% a year over 3 years, though net profit is above operating profit, which points to a one-off gain. Its dividend yield is 0.1%. It is a small-cap company with a market cap of ₹1,085 Cr, ranked 26th of 69 Asset Management companies by market cap; the shares fell 17% 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: ₹3,403.40
Day high: ₹3,477.70
Day low: ₹3,400.00
Prev. close: ₹3,439.30
Volume: 289

Health check

5 to check

ReturnsBehind
−17.2% over a year, better than 2 of 7 peers.
Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
GrowthShrinking
Sales −28.0%, profit −1.8% a year over 3 years.
ProfitabilityWeak
ROCE 6.1% vs peer median 38.5%.
Balance sheetStretched
Piotroski 3 of 9.
Red flags2 to check
Return on equity is low at 5.9%.

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

Asset Management

68 listed peers. Screen the industry

Small cap

₹1,085 Cr, #26 of 69 in its industry by size.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months to Jun 2026: sales ₹22 Cr · profit ₹252 Cr

Market cap: ₹1,085 Cr; Small cap
P/E: 4.3; Industry 25.9
Price to book: 0.29; Peers 13.19
Dividend yield: 0.15%
ROE: 5.9%; Peers 35.3%
ROCE: 6.1%; Peers 38.5%
Debt to equity: n/a; Debt ₹0.00 Cr
EPS (TTM): ₹788.02; Face value ₹10
OPM (TTM): 432.0%; Net margin 1164.9%
Sales growth: +37.5%; Latest quarter vs a year ago
Profit growth: +56.7%; Latest quarter vs a year ago
Price to sales: 50.26; EV/EBITDA 56.7

Strengths

Quarterly profit up 56.7% on a year ago.
Quarterly sales up 37.5% on a year ago.

Risks to check

Return on equity is low at 5.9%.
Net profit is above operating profit, so a one-off gain is likely flattering earnings.

Derived automatically from reported figures. Not a recommendation.

About Vardhman Holdings

Vardhman Holdings Limited operates as a non-banking financial company in India. It primarily engages in investing activities. The company was formerly known as Vardhman Spinning and General Mills Limited and changed its name to Vardhman Holdings Limited in March 2006. Vardhman Holdings Limited was incorporated in 1962 and is based in Ludhiana, India.

Headquarters: Ludhiana
Employees: 3
Sector: Financial Services
ISIN: INE701A01023
Website: vardhman.com

Price range

52 weeks

₹2,870.00₹4,050.00

Today

₹3,400.00₹3,477.70

Avg volume (3M): 770
1-year return: minus 17.2%
From 52-week high: minus 16.0%

Peers · Asset Management

Compare with peers Screen the whole industry

Company
JIOFINJio Financial Services	231.20	plus 0.69%	1,58,445	87.9	1.19	1.7%	1.3%	75.8%	431.5%	268.2%	0.26%	minus 23.9%
ICICIAMCICICI Prudential Asset Management Company	2,935.80	minus 1.45%	1,45,104	41.1	27.16	98.3%	76.2%	74.1%	28.9%	29.6%	1.44%	plus 13.5%
BAJAJHLDNGBajaj Holdings & Investment	11,044.00	plus 1.80%	1,22,913	13.2	1.67	–	11.6%	78.8%	19.0%	25.7%	1.18%	minus 10.3%
HDFCAMCHDFC Asset Management Company	2,649.80	plus 0.37%	1,13,701	38.3	13.19	38.5%	36.4%	81.4%	23.9%	26.2%	2.04%	minus 2.3%
SBIFUNDSSBI Funds Management	499.55	minus 1.30%	1,01,750	33.3	13.47	–	40.4%	78.5%	–	–	0.00%	minus 18.1%
NAM-INDIANippon Life India Asset Management	1,065.20	minus 0.37%	68,177	42.8	14.29	40.0%	35.3%	67.3%	26.1%	28.3%	2.07%	plus 21.3%
360ONE360 ONE WAM	1,145.00	plus 0.36%	49,107	38.7	4.50	13.5%	12.7%	47.3%	24.0%	22.7%	1.18%	plus 5.7%
VHLVardhman Holdings	3,400.20	minus 1.14%	1,085	4.3	0.29	6.1%	5.9%	432.0%	−28.0%	−1.8%	0.15%	minus 17.2%
Median of 7 peers	–	0.36%	1,13,701	38.7	13.19	38.5%	35.3%	75.8%	25.0%	27.2%	1.18%	−2.3%

Quarterly results

Consolidated, ₹ crore

SalesSelect a row below to chart it

Jun 25	Sep 25	Dec 25	Mar 26	Jun 26
0.2	3.5	0.1	0.2	0.2
−2.9	1.1	−5.6	0.8	−9.9
3.1	2.4	5.7	−0.5	10.1
1931.3%	67.9%	5200.0%	−216.7%	4581.8%
60.4	55.1	49.2	54	90.3
–	–	–	0.1	–
63.5	57.5	54.9	53.5	100
1.4%	19.8%	2.1%	−0.3%	2.3%
62.6	46.1	53.7	53.6	98.1
196.08	144.50	168.28	167.97	307.27

Profit & loss

Yearly, ₹ crore

Sales CAGR 3Y: −28.0%
Profit CAGR 3Y: −1.8%
EPS CAGR 3Y: −1.8%
ROE: 5.9%

Net profitSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
24.4	8.5	13.2	9.1
–	minus 65.3%	+56.1%	minus 31.2%
21.1	−5	−7	−2.9
3.3	13.4	20.3	12
13.7%	158.5%	153.2%	131.7%
222	181	255	217
–	–	–	0
0	0	0	0
–	−0.5	−1.8	–
225	194	273	229
−1.6%	4.8%	5.5%	5.8%
228	185	258	216
–	minus 19.1%	+39.6%	minus 16.3%
715.75	579.28	808.40	676.83

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore

Total assetsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
3.2	3.2	3.2	3.2
3,096	3,294	3,537	3,762
1.1	0.6	0.5	3.6
3,101	3,298	3,541	3,769
3.2	3.2	3.2	3.2
380	381	482	277
62.5	81.6	119	238
2,655	2,832	2,937	3,251
3,101	3,298	3,541	3,769

Cash flow

Yearly, ₹ crore

Cash from operationsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
1.3	−2.9	−5.5	−5.7
2	4.4	4.7	7.3
−1.6	−1.6	−1.6	−1.6
1.7	−0.1	−2.4	−0.1
1.3	−2.9	−5.5	−5.7
−1.6	−1.6	−1.6	−1.6

Shareholding pattern

Source: NSE filings

74.9%

promoters

Promoters74.90%
Public25.10%
As of 30 Sep 2026

Quarter	Promoters	Public	Promoter change
30 Sep 2026	74.90%	25.10%	0.00
30 Jun 2026	74.90%	25.10%	0.00
31 Mar 2026	74.90%	25.10%	0.00
31 Dec 2025	74.90%	25.10%	0.00
30 Sep 2025	74.90%	25.10%	–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you