As of 6 Nov 2026, Vardhman Textiles trades at 14.3× trailing earnings, below the industry P/E of 17.0×, and the shares are 26% below their 52-week high. Its ROCE of 8.6% is the second-lowest among the 7 largest Textile Manufacturing peers, and sales and net profit fell 0.8% and 2.1% a year over 3 years. Its dividend yield is 1.0%, and debt is 0.18× equity. It is a small-cap company with a market cap of ₹14,729 Cr, ranked 3rd of 246 Textile Manufacturing companies by market cap; the shares rose 22% over the past year.
- ₹530.10
- ₹543.90
- ₹501.10
- ₹534.95
- 21.1 L
Health check
- ReturnsIn line
+22.2% over a year, better than 4 of 7 peers.
- Price tagCheaper
P/E 14.3 vs industry 17.0.
- GrowthShrinking
Sales −0.8%, profit −2.1% a year over 3 years.
- ProfitabilityWeak
ROCE 8.6% vs peer median 15.4%.
- Balance sheetFair
Debt 0.18× equity, interest covered 11.2×, Piotroski 5 of 9.
- Red flags1 to check
Return on equity is low at 7.3%.
Small cap
Defensive
Key metrics
- Market cap
- ₹14,729 Cr
- Small cap
- P/E
- 14.3
- Industry 17.0
- Price to book
- 1.38
- Peers 4.47
- Dividend yield
- 0.98%
- ROE
- 7.3%
- Peers 11.1%
- ROCE
- 8.6%
- Peers 15.4%
- Debt to equity
- 0.18
- Debt ₹1,855 Cr
- EPS (TTM)
- ₹35.70
- Face value ₹2
- OPM (TTM)
- 13.7%
- Net margin 8.3%
- Sales growth
- +13.3%
- Latest quarter vs a year ago
- Profit growth
- +49.6%
- Latest quarter vs a year ago
- Price to sales
- 1.45
- EV/EBITDA 11.1
Strengths and risks
Strengths
- Quarterly profit up 49.6% on a year ago.
Risks to check
- Return on equity is low at 7.3%.
About Vardhman Textiles
Vardhman Textiles Limited, together with its subsidiaries, manufactures and sells cotton and synthetic yarn, woven fabrics, and garments in India and internationally. It operates through Textiles and Fibre segments. The company offers greige and dyed yarns in cotton, polyester, acrylic, and various blends; specialty yarns, such as organic cotton, melange, core-spun, gassed mercerised, and super-fine variants, as well as recycle cotton, linen and hemp…
- Headquarters
- Ludhiana
- Employees
- 24,097
- Sector
- Consumer Cyclical
- ISIN
- INE825A01020
- Website
- vardhman.com
Price range
- Avg volume (3M)
- 7.1 L
- 1-year return
- plus 22.2%
- From 52-week high
- minus 26.0%
Analyst consensus
Peers · Textile Manufacturing
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KPRMILLK.P.R. Mill | 1,164.40 | minus 0.25% | 39,883 | 38.3 | 6.41 | 20.0% | 18.0% | 22.1% | 2.3% | 2.1% | 0.43% | plus 10.5% |
| WELSPUNLIVWelspun Living | 241.30 | minus 4.75% | 22,717 | 52.8 | 4.47 | 5.8% | 8.8% | 28.7% | 5.7% | 0.9% | 0.04% | plus 96.2% |
| VTLVardhman Textiles | 508.80 | minus 4.89% | 14,729 | 14.3 | 1.38 | 8.6% | 7.3% | 13.7% | −0.8% | −2.1% | 0.98% | plus 22.2% |
| ARVINDArvind | 494.75 | minus 0.58% | 12,969 | 28.4 | 3.10 | 15.4% | 11.1% | 10.9% | 3.4% | 0.8% | 0.91% | plus 57.3% |
| TRIDENTTrident | 23.88 | plus 0.08% | 12,168 | 25.4 | 2.53 | 10.7% | 10.1% | 14.9% | 1.8% | −5.1% | 2.09% | minus 16.6% |
| ICILIndo Count Industries | 489.85 | minus 2.25% | 9,702 | 39.8 | 3.81 | 9.5% | 5.5% | 9.7% | 11.6% | −22.9% | 0.31% | plus 78.7% |
| GARFIBRESGarware Technical Fibres | 715.65 | minus 2.13% | 6,988 | 29.8 | 4.97 | 19.3% | 15.3% | 19.2% | 5.6% | 4.9% | 1.26% | minus 3.9% |
| KUSUMGARKusumgar | 552.35 | minus 6.74% | 5,799 | 43.2 | 11.18 | 24.5% | 25.8% | 25.4% | 31.7% | 38.2% | 0.00% | minus 8.4% |
| Median of 7 peers | – | −2.13% | 12,168 | 38.3 | 4.47 | 15.4% | 11.1% | 19.2% | 5.6% | 0.9% | 0.43% | 10.5% |
Quarterly results
| ₹ Cr | Mar 25 | Jun 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 2,509 | 2,386 | 2,505 | 2,498 | 2,703 | |
| – | – | – | minus 0.4% | +13.3% | |
| 2,222 | 2,060 | 2,221 | 2,204 | 2,229 | |
| 287 | 326 | 284 | 294 | 474 | |
| 11.4% | 13.7% | 11.3% | 11.8% | 17.5% | |
| 133 | 82.4 | 73.8 | 68.3 | 93.9 | |
| 22.9 | 22.5 | 26.2 | 23.2 | 23.1 | |
| 103 | 109 | 118 | 123 | 126 | |
| 293 | 276 | 214 | 217 | 418 | |
| 18.9% | 24.8% | 21.1% | 12.6% | 24.8% | |
| 237 | 207 | 166 | 185 | 310 | |
| – | – | – | minus 22.2% | +49.6% | |
| 8.35 | 7.28 | 5.85 | 6.49 | 10.86 |
Profit & loss
- Sales CAGR 3Y
- −0.8%
- Profit CAGR 3Y
- −2.1%
- EPS CAGR 3Y
- −2.2%
- ROE
- 7.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 9,925 | 9,320 | 9,599 | 9,689 | |
| – | minus 6.1% | +3.0% | +0.9% | |
| 8,502 | 8,277 | 8,267 | 8,321 | |
| 1,424 | 1,043 | 1,332 | 1,368 | |
| 14.3% | 11.2% | 13.9% | 14.1% | |
| 66.5 | 132 | 143 | 35.8 | |
| 87.8 | 88.9 | 87.3 | 93.9 | |
| 394 | 405 | 401 | 465 | |
| 51.9 | 153 | 181 | 110 | |
| 1,060 | 835 | 1,168 | 955 | |
| 24.1% | 23.7% | 24.1% | 21.1% | |
| 795 | 632 | 883 | 745 | |
| – | minus 20.6% | +39.8% | minus 15.6% | |
| 27.95 | 22.20 | 31.05 | 26.18 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 56.9 | 56.9 | 56.9 | 56.9 | |
| 8,507 | 9,043 | 9,839 | 10,457 | |
| 1,678 | 1,791 | 1,238 | 1,855 | |
| 1,091 | 1,089 | 1,298 | 1,497 | |
| 11,333 | 11,981 | 12,432 | 13,866 | |
| 3,999 | 3,858 | 4,510 | 5,822 | |
| 65.5 | 101 | 370 | 738 | |
| 1,244 | 1,256 | 1,141 | 591 | |
| 1,515 | 280 | 510 | 1,048 | |
| 4,510 | 6,487 | 5,900 | 5,667 | |
| 11,333 | 11,981 | 12,432 | 13,866 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,853 | −1,055 | 1,644 | 1,108 | |
| −1,445 | 1,104 | −892 | −1,516 | |
| −399 | −89.7 | −733 | 398 | |
| 9 | −41.3 | 19.3 | −10.3 | |
| −622 | −284 | −1,033 | −1,738 | |
| 1,231 | −1,339 | 611 | −630 | |
| −0.5 | −106 | −118 | −146 |
Shareholding pattern
- Promoters65.06%
- Public34.94%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 65.06% | 34.94% | minus 0.02 | |
| 30 Jun 2026 | 65.08% | 34.92% | minus 0.01 | |
| 31 Mar 2026 | 65.09% | 34.91% | plus 0.65 | |
| 31 Dec 2025 | 64.44% | 35.56% | plus 0.23 | |
| 30 Sep 2025 | 64.21% | 35.79% | – |
Major shareholders
Filings & events
News
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