Share Price and Basic Stock Data

Last Updated: November 22, 2024, 9:20 pm

Market Cap	1,593 Cr.
Current Price	4,989
High / Low	5,760/2,425
Stock P/E	6.96
Book Value	10,984
Dividend Yield	0.10 %
ROCE	6.07 %
ROE	5.78 %
Face Value	10.0
PEG Ratio	1.15

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Vardhman Holdings Ltd

Competitors of Vardhman Holdings Ltd

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Nam Securities Ltd	85.7 Cr.	159	198/62.8	238	21.2	0.00 %	4.16 %	3.05 %	10.0
Naperol Investments Ltd	828 Cr.	1,441	2,041/801	845	3,204	0.00 %	0.08 %	0.05 %	10.0
Inani Securities Ltd	14.1 Cr.	31.0	42.0/20.5	9.75	42.2	0.00 %	10.6 %	6.92 %	10.0
HCKK Ventures Ltd	43.5 Cr.	117	154/77.4	241	11.5	0.00 %	8.17 %	6.44 %	10.0
HB Portfolio Ltd	108 Cr.	101	177/57.0	14.6	279	0.99 %	3.34 %	2.90 %	10.0
Industry Average	7,266.37 Cr	2,238.71		76.51	5,594.83	0.28%	15.23%	17.14%	7.45

All Competitor Stocks of Vardhman Holdings Ltd

Quarterly Result

Month	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Sales	8	3	14	10	6	5	2	4	-5	6	30	8	0
Expenses	1	0	0	1	1	1	1	1	2	0	1	0	3
Operating Profit	7	2	14	9	5	3	1	4	-7	5	30	7	-3
OPM %	85%	84%	97%	87%	86%	74%	68%	83%		92%	98%	95%	-3,786%
Other Income	69	87	133	118	91	91	57	30	46	40	39	47	28
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	76	89	147	127	96	94	59	33	39	45	69	54	26
Tax %	2%	0%	7%	14%	2%	1%	-3%	0%	-6%	3%	10%	2%	1%
Net Profit	75	89	137	109	94	94	61	33	41	44	62	54	26
EPS in Rs	235.09	279.87	430.24	340.72	293.72	294.60	189.60	103.71	127.87	137.21	194.05	167.95	80.15

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 23, 2024, 3:17 pm

Month	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	13	70	28	9	12	20	33	6	15	45
Expenses	4	2	3	3	6	2	3	4	4	5
Operating Profit	9	68	25	6	7	18	30	2	11	40
OPM %	72%	97%	89%	68%	53%	89%	91%	26%	71%	88%
Other Income	151	242	157	196	155	116	429	223	184	184
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0
Profit before tax	160	310	181	202	161	133	459	225	194	223
Tax %	1%	2%	1%	0%	1%	3%	7%	-2%	5%
Net Profit	159	303	179	202	160	130	429	228	185	214
EPS in Rs	496.88	950.05	559.83	632.40	500.42	405.80	1,344.45	715.74	579.29	671.29
Dividend Payout %	1%	1%	1%	1%	0%	1%	0%	1%	1%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	90.57%	-40.92%	12.85%	-20.79%	-18.75%	230.00%	-46.85%	-18.86%
Change in YoY Net Profit Growth (%)	0.00%	-131.49%	53.77%	-33.64%	2.04%	248.75%	-276.85%	27.99%

Vardhman Holdings Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2016-2017 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	10%
3 Years:	-9%
TTM:	-38%

Compounded Profit Growth
10 Years:	%
5 Years:	-2%
3 Years:	13%
TTM:	27%

Stock Price CAGR
10 Years:	21%
5 Years:	29%
3 Years:	17%
1 Year:	58%

Return on Equity
10 Years:	%
5 Years:	9%
3 Years:	10%
Last Year:	6%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 6:36 pm

Month	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	3	3	3	3	3	3	3	3	3	3
Reserves	1,244	1,545	1,819	1,994	2,122	2,303	2,774	3,096	3,294	3,502
Borrowings	0	0	0	0	0	0	0	0	0	0
Other Liabilities	2	5	3	5	4	2	1	1	1	15
Total Liabilities	1,249	1,553	1,825	2,003	2,130	2,307	2,778	3,101	3,298	3,520
Fixed Assets	1	1	3	3	3	3	3	3	3	3
CWIP	0	0	0	0	0	0	0	0	0	0
Investments	1,240	1,506	1,776	1,952	1,979	2,167	2,738	3,065	3,270	3,512
Other Assets	9	46	46	48	147	137	36	32	25	5
Total Assets	1,249	1,553	1,825	2,003	2,130	2,307	2,778	3,101	3,298	3,520

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	-34	2	6	-95	82	-5	1	-3
Cash from Investing Activity +	36	0	-3	99	-10	-69	2	4
Cash from Financing Activity +	-1	-2	-2	-2	-0	-2	-2	-2
Net Cash Flow	1	0	1	2	72	-75	2	-0

Free Cash Flow

Month	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	9.00	68.00	25.00	6.00	7.00	18.00	30.00	2.00	11.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	0	0	0	0	0	0	0	0	0
Inventory Days
Days Payable
Cash Conversion Cycle	0	0	0	0	0	0	0	0	0
Working Capital Days	82	194	41	19	2,908	372	98	569	236
ROCE %		22%	11%	11%	8%	6%	18%	8%	6%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoters	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%
FIIs	3.00%	1.51%	0.06%	0.05%	0.04%	0.04%	0.04%	0.03%	0.03%	0.03%	0.03%	0.06%
DIIs	0.99%	0.96%	0.96%	0.96%	0.96%	0.96%	0.96%	0.96%	0.96%	0.97%	0.56%	0.53%
Public	21.11%	22.63%	24.08%	24.09%	24.11%	24.10%	24.09%	24.10%	24.10%	24.10%	24.51%	24.51%
No. of Shareholders	8,484	8,415	9,673	9,693	9,898	9,728	9,592	9,426	9,276	9,097	9,185	9,598

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	579.28	715.75	1344.43	405.80	500.43
Diluted EPS (Rs.)	579.28	715.75	1344.43	405.80	500.43
Cash EPS (Rs.)	11.51	21.64	4.63	47.17	20.38
Book Value[Excl.RevalReserv]/Share (Rs.)	10328.20	9709.30	8698.27	7222.76	6658.56
Book Value[Incl.RevalReserv]/Share (Rs.)	10328.20	9709.30	8698.27	7222.76	6658.56
Revenue From Operations / Share (Rs.)	46.68	18.43	103.65	61.98	38.95
PBDIT / Share (Rs.)	40.83	10.64	99.83	58.77	24.56
PBIT / Share (Rs.)	40.81	10.62	99.81	58.74	24.53
PBT / Share (Rs.)	40.81	10.62	99.81	58.74	24.53
Net Profit / Share (Rs.)	11.49	21.62	4.60	47.14	20.35
NP After MI And SOA / Share (Rs.)	579.13	715.55	1344.06	405.69	500.30
PBDIT Margin (%)	87.47	57.72	96.31	94.82	63.04
PBIT Margin (%)	87.42	57.60	96.29	94.78	62.97
PBT Margin (%)	87.42	57.60	96.29	94.78	62.97
Net Profit Margin (%)	24.61	117.27	4.43	76.06	52.24
NP After MI And SOA Margin (%)	1240.70	3881.93	1296.72	654.59	1284.26
Return on Networth / Equity (%)	5.60	7.36	15.45	5.61	7.51
Return on Capital Employeed (%)	0.39	0.10	1.14	0.81	0.36
Return On Assets (%)	5.60	7.36	15.44	5.61	7.49
Asset Turnover Ratio (%)	0.00	0.00	0.07	0.01	0.03
Current Ratio (X)	19747.96	22854.20	14980.93	2786.68	618.52
Quick Ratio (X)	19747.96	22854.20	14980.93	2786.68	618.52
Dividend Payout Ratio (NP) (%)	0.86	0.00	0.37	0.00	0.99
Dividend Payout Ratio (CP) (%)	0.86	0.00	0.37	0.00	0.99
Earning Retention Ratio (%)	99.14	0.00	99.63	0.00	99.01
Cash Earning Retention Ratio (%)	99.14	0.00	99.63	0.00	99.01
Enterprise Value (Cr.)	888.03	815.35	1164.42	489.85	293.68
EV / Net Operating Revenue (X)	59.59	138.56	35.19	24.76	23.61
EV / EBITDA (X)	68.13	240.04	36.54	26.11	37.46
MarketCap / Net Operating Revenue (X)	59.85	139.24	35.27	28.62	24.00
Retention Ratios (%)	99.13	0.00	99.62	0.00	99.00
Price / BV (X)	0.27	0.26	0.42	0.24	0.14
Price / Net Operating Revenue (X)	59.85	139.25	35.27	28.62	24.00
EarningsYield	0.20	0.27	0.36	0.22	0.53

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Vardhman Holdings Ltd as of November 24, 2024 is: 4,423.15

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 24, 2024, Vardhman Holdings Ltd is Overvalued by 11.34% compared to the current share price 4,989.00

Intrinsic Value of Vardhman Holdings Ltd as of November 24, 2024 is: 4,690.80

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 24, 2024, Vardhman Holdings Ltd is Overvalued by 5.98% compared to the current share price 4,989.00

Last 5 Year EPS CAGR: 6.05%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a low average Cash Conversion Cycle of 0.00, which is a positive sign. The company has higher reserves (2,369.30 cr) compared to borrowings (0.00 cr), indicating strong financial stability. The company has shown consistent growth in sales (25.10 cr) and profit (224.80 cr) over the years.	The stock has a low average ROCE of 10.00%, which may not be favorable. The stock has a high average Working Capital Days of 179.22, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Vardhman Holdings Ltd:
1. Net Profit Margin: 24.61%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 0.39% (Industry Average ROCE: 15.23%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 5.6% (Industry Average ROE: 17.14%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 0
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 19747.96
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 6.96 (Industry average Stock P/E: 76.51)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Vardhman Holdings Ltd. is a Public Limited Listed company incorporated on 27/12/1962 and has its registered office in the State of Punjab, India. Company’s Corporate Identification Number(CIN) is L17111PB1962PLC002463 and registration number is 002463. Currently Company is involved in the business activities of Trusts, funds and other financial vehicles. Company’s Total Operating Revenue is Rs. 114.98 Cr. and Equity Capital is Rs. 3.19 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Non-Banking Financial Company (NBFC)	Vardhman Premises, Ludhiana Punjab 141010	secretarial.lud@vardhman.com https://www.vardhman.com

Management
Name	Position Held
Mr. Shri Paul Oswal	Chairman & Managing Director
Mr. Sachit Jain	Director
Mrs. Suchita Jain	Director
Mr. Vikas Kumar	Director
Mr. Devendrabhushan Jain	Independent Director
Mr. Rajeev Kumar Mittal	Independent Director
Ms. Pooja Mehta	Independent Director
Mr. Manjul Pahwa	Independent Director

FAQ

What is the latest intrinsic value of Vardhman Holdings Ltd?

The latest intrinsic value of Vardhman Holdings Ltd as on 24 November 2024 is ₹4423.15, which is 11.34% lower than the current market price of ₹4,989.00.

What is the Market Cap of Vardhman Holdings Ltd?

The Market Cap of Vardhman Holdings Ltd is 1,593 Cr..

What is the current Stock Price of Vardhman Holdings Ltd as on 24 November 2024?

The current stock price of Vardhman Holdings Ltd as on 24 November 2024 is 4,989.

What is the High / Low of Vardhman Holdings Ltd stocks in FY 2024?

In FY 2024, the High / Low of Vardhman Holdings Ltd stocks is 5,760/2,425.

What is the Stock P/E of Vardhman Holdings Ltd?

The Stock P/E of Vardhman Holdings Ltd is 6.96.

What is the Book Value of Vardhman Holdings Ltd?

The Book Value of Vardhman Holdings Ltd is 10,984.

What is the Dividend Yield of Vardhman Holdings Ltd?

The Dividend Yield of Vardhman Holdings Ltd is 0.10 %.

What is the ROCE of Vardhman Holdings Ltd?

The ROCE of Vardhman Holdings Ltd is 6.07 %.

What is the ROE of Vardhman Holdings Ltd?

The ROE of Vardhman Holdings Ltd is 5.78 %.

What is the Face Value of Vardhman Holdings Ltd?

The Face Value of Vardhman Holdings Ltd is 10.0.