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Last Updated: April 2, 2026, 3:53 am
Author: Getaka|Social: XLinkedIn

Vardhman Acrylics Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹20.29Overvalued by 30.99%vs CMP ₹29.40

P/E (17.3) × ROE (4.9%) × BV (₹28.70) × DY (5.10%)

₹23.01Overvalued by 21.73%vs CMP ₹29.40
MoS: -27.8% (Negative)Confidence: 48/100 (Moderate)Models: 3 Under, 1 Fair, 5 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹20.0123%Over (-31.9%)
Graham NumberEarnings₹33.0416%Under (+12.4%)
Earnings PowerEarnings₹20.2411%Over (-31.2%)
DCFCash Flow₹18.6014%Over (-36.7%)
Net Asset ValueAssets₹28.657%Fair (-2.6%)
EV/EBITDAEnterprise₹6.989%Over (-76.3%)
Earnings YieldEarnings₹16.907%Over (-42.5%)
ROCE CapitalReturns₹33.627%Under (+14.4%)
Revenue MultipleRevenue₹35.135%Under (+19.5%)
Consensus (9 models)₹23.01100%Overvalued
Key Drivers: ROE 4.9% is below cost of equity. | Wide model spread (₹7–₹35) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -1.4%

*Investments are subject to market risks

Investment Snapshot

50
Vardhman Acrylics Ltd scores 50/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health58/100 · Moderate
ROCE 6.7% WeakROE 4.9% WeakD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 75.0% Stable
Earnings Quality40/100 · Moderate
OPM stable around 3% SteadyWorking capital: 157 days Capital intensive
Quarterly Momentum60/100 · Moderate
Revenue (4Q): +11% YoY GrowingProfit (4Q): -10% YoY DecliningOPM: 9.3% (up 8.3% YoY) Margin expansion
Industry Rank40/100 · Moderate
P/E 17.3 vs industry 17.3 In-lineROCE 6.7% vs industry 6.7% Average3Y sales CAGR: -2% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Vardhman Acrylics Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
30/100
Low
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 17.3 vs Ind 17.3 | ROCE 6.7% | ROE 4.9% | CFO/NP N/A
Balance Sheet Stress
0/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.00x | IntCov 0.0x | Current 4.91x | Borrow/Reserve 0.00x
Cash Flow Reliability
29/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹12 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII 0.00 pp | DII N/A | Prom 0.00 pp
Business Momentum
+100
Watch closely
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales -14.7% | Q NP +196.4% | Q OPM +9.1 pp
Derived FieldValueHow it is derived
Valuation Gap %-21.7%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.00xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change0.00 ppLatest FII% minus previous FII%
DII ChangeN/ALatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change+48Latest shareholder count minus previous count
Quarterly Sales Change-14.7%Latest quarter sales vs previous quarter sales
Quarterly Profit Change+196.4%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change+9.1 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:53 am

Market Cap 236 Cr.
Current Price 29.4
Intrinsic Value₹26.53
High / Low 54.2/27.0
Stock P/E17.3
Book Value 28.7
Dividend Yield5.10 %
ROCE6.68 %
ROE4.86 %
Face Value 10.0
PEG Ratio-12.70

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

View Share Price Target for Vardhman Acrylics Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Vardhman Acrylics Ltd 236 Cr. 29.4 54.2/27.017.3 28.75.10 %6.68 %4.86 % 10.0
Industry Average236.00 Cr29.4017.3028.705.10%6.68%4.86%10.00

All Competitor Stocks of Vardhman Acrylics Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 108.1880.6080.8086.4161.8968.3857.0570.6281.7872.1169.3989.4076.28
Expenses 96.7377.3982.3081.0957.0263.8254.9169.8680.9772.1270.0289.2369.19
Operating Profit 11.453.21-1.505.324.874.562.140.760.81-0.01-0.630.177.09
OPM % 10.58%3.98%-1.86%6.16%7.87%6.67%3.75%1.08%0.99%-0.01%-0.91%0.19%9.29%
Other Income 3.673.313.543.952.963.584.093.494.723.313.663.833.39
Interest 0.070.070.060.070.030.130.060.060.030.100.040.030.07
Depreciation 1.391.361.401.421.461.360.730.760.710.800.690.730.77
Profit before tax 13.665.090.587.786.346.655.443.434.792.402.303.249.64
Tax % 24.30%22.99%20.69%20.57%11.67%20.45%20.22%54.52%17.12%18.33%23.91%22.84%23.13%
Net Profit 10.343.920.466.185.605.294.341.563.971.961.752.507.41
EPS in Rs 1.290.490.060.770.700.660.540.190.490.240.220.310.92

Last Updated: February 3, 2026, 4:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 9:10 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 468498448368327392334280303427297282307
Expenses 418465403331295364308232294390284278301
Operating Profit 50344438312827489361347
OPM % 11%7%10%10%10%7%8%17%3%8%5%1%2%
Other Income 21162225212527151413141614
Interest 1000100100000
Depreciation 11545555555633
Profit before tax 59456257474748571743211618
Tax % 26%25%34%28%17%26%3%25%16%24%18%26%
Net Profit 44334141393446431533181214
EPS in Rs 4.703.594.385.124.804.295.765.341.814.092.181.471.69
Dividend Payout % 0%28%114%29%42%58%0%0%1,380%61%92%102%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-25.00%24.24%0.00%-4.88%-12.82%35.29%-6.52%-65.12%120.00%-45.45%-33.33%
Change in YoY Net Profit Growth (%)0.00%49.24%-24.24%-4.88%-7.94%48.11%-41.82%-58.59%185.12%-165.45%12.12%

Vardhman Acrylics Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:-6%
5 Years:-3%
3 Years:-2%
TTM:7%
Compounded Profit Growth
10 Years:-8%
5 Years:-24%
3 Years:-7%
TTM:-57%
Stock Price CAGR
10 Years:6%
5 Years:7%
3 Years:-7%
1 Year:-26%
Return on Equity
10 Years:11%
5 Years:9%
3 Years:9%
Last Year:5%

Last Updated: September 5, 2025, 1:50 pm

Balance Sheet

Last Updated: February 1, 2026, 4:07 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 93939380808080808080808080
Reserves 208228225215239253275318132165163158150
Borrowings 2111111030100
Other Liabilities 8210877127921199686879784110108
Total Liabilities 385430395423413453453485302342328349339
Fixed Assets 75726158555264595654565859
CWIP 3200000004002
Investments 194263256248260284160232134172169186136
Other Assets 113927811799118229194112112103105142
Total Assets 385430395423413453453485302342328349339

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 43552342326439-939726
Cash from Investing Activity + -44-5843307-880-83190-3712-9
Cash from Financing Activity + -5-1-68-63-15-20-24-1-198-3-20-17
Net Cash Flow -6-3-28-5-261-44-17-10-0
Free Cash Flow 39512041223-239-1231421
CFO/OP 107%203%84%114%62%137%48%111%-18%135%92%753%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow48.0033.0043.0037.0030.0027.0026.0048.006.0036.0012.004.00

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

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 81252315102013112011
Inventory Days 786362123859492139121108141149
Days Payable 45603710066848389757081124
Cash Conversion Cycle 41527284124206959498037
Working Capital Days 31-211-594-221291525157
ROCE %18%12%19%19%15%14%14%15%6%19%9%7%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.97%74.97%74.97%74.97%74.97%74.97%74.97%74.97%74.97%74.97%74.97%74.97%
FIIs 0.13%0.13%0.14%0.13%0.16%0.18%0.19%0.13%0.13%0.14%0.02%0.02%
Public 24.90%24.90%24.89%24.90%24.87%24.85%24.83%24.90%24.90%24.89%25.01%25.01%
No. of Shareholders 29,20429,05028,15228,76129,29228,73228,03728,06128,29128,21628,02628,074

Shareholding Pattern Chart

No. of Shareholders

Vardhman Acrylics Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 1.472.184.091.815.34
Diluted EPS (Rs.) 1.472.184.091.815.34
Cash EPS (Rs.) 1.842.884.772.486.01
Book Value[Excl.RevalReserv]/Share (Rs.) 29.7030.2330.5326.4249.57
Book Value[Incl.RevalReserv]/Share (Rs.) 29.7030.2330.5326.4249.57
Dividend / Share (Rs.) 1.502.002.5025.000.00
Revenue From Operations / Share (Rs.) 35.0437.0253.0937.7434.87
PBDIT / Share (Rs.) 2.403.396.082.897.85
PBIT / Share (Rs.) 2.032.695.402.227.17
PBT / Share (Rs.) 2.002.665.362.177.11
Net Profit / Share (Rs.) 1.472.184.091.815.34
PBDIT Margin (%) 6.859.1611.457.6622.50
PBIT Margin (%) 5.787.2710.175.8720.57
PBT Margin (%) 5.707.1710.105.7420.38
Net Profit Margin (%) 4.195.897.704.7915.31
Return on Networth / Equity (%) 4.957.2113.396.8510.77
Return on Capital Employeed (%) 6.548.6417.158.0814.08
Return On Assets (%) 3.395.349.604.818.84
Total Debt / Equity (X) 0.000.000.000.010.00
Asset Turnover Ratio (%) 0.830.881.320.770.59
Current Ratio (X) 2.252.332.232.314.91
Quick Ratio (X) 1.441.371.301.374.07
Inventory Turnover Ratio (X) 3.613.763.473.362.67
Dividend Payout Ratio (NP) (%) 135.96114.570.001379.910.00
Dividend Payout Ratio (CP) (%) 108.4386.720.001005.820.00
Earning Retention Ratio (%) -35.96-14.570.00-1279.910.00
Cash Earning Retention Ratio (%) -8.4313.280.00-905.820.00
Interest Coverage Ratio (X) 77.4895.11166.1459.53118.92
Interest Coverage Ratio (Post Tax) (X) 48.4662.16112.6938.3081.94
Enterprise Value (Cr.) 320.13407.41346.23429.38192.73
EV / Net Operating Revenue (X) 1.141.370.811.420.68
EV / EBITDA (X) 16.5914.947.0818.483.06
MarketCap / Net Operating Revenue (X) 1.151.380.811.421.05
Retention Ratios (%) -35.96-14.570.00-1279.910.00
Price / BV (X) 1.361.691.422.030.73
Price / Net Operating Revenue (X) 1.151.380.811.421.05
EarningsYield 0.030.040.090.030.14

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Vardhman Acrylics Ltd. is a Public Limited Listed company incorporated on 24/12/1990 and has its registered office in the State of Punjab, India. Company's Corporate Identification Number(CIN) is L51491PB1990PLC019212 and registration number is 019212. Currently Company is involved in the business activities of Spinning, weaving and finishing of textiles. Company's Total Operating Revenue is Rs. 281.57 Cr. and Equity Capital is Rs. 80.36 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Textiles - Manmade Fibre - Acrylic FibreVardhman Premises, Chandigarh Road, Ludhiana Punjab 141010Contact not found
Management
NamePosition Held
Mr. Shri Paul OswalChairman
Mr. Bal Krishan ChoudharyVice Chairman
Mr. Sachit JainDirector
Mrs. Suchita JainDirector
Mr. Vivek GuptaWhole Time Director
Mr. Anil KumarIndependent Director
Ms. Parakh OswalIndependent Director
Mr. Bhooshan Lal UppalIndependent Director
Mr. Sandeep KapurIndependent Director
Mr. Sanjeev JainIndependent Director

FAQ

What is the intrinsic value of Vardhman Acrylics Ltd and is it undervalued?

As of 04 April 2026, Vardhman Acrylics Ltd's intrinsic value is ₹23.01, which is 21.73% lower than the current market price of ₹29.40, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (4.86 %), book value (₹28.7), dividend yield (5.10 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Vardhman Acrylics Ltd?

Vardhman Acrylics Ltd is trading at ₹29.40 as of 04 April 2026, with a FY2026-2027 high of ₹54.2 and low of ₹27.0. The stock is currently near its 52-week low. Market cap stands at ₹236 Cr..

How does Vardhman Acrylics Ltd's P/E ratio compare to its industry?

Vardhman Acrylics Ltd has a P/E ratio of 17.3, which is below the industry average of 17.30. This is broadly in line with or below the industry average.

Is Vardhman Acrylics Ltd financially healthy?

Key indicators for Vardhman Acrylics Ltd: ROCE of 6.68 % is on the lower side compared to the industry average of 6.68%; ROE of 4.86 % is below ideal levels (industry average: 4.86%). Dividend yield is 5.10 %.

Is Vardhman Acrylics Ltd profitable and how is the profit trend?

Vardhman Acrylics Ltd reported a net profit of ₹12 Cr in Mar 2025 on revenue of ₹282 Cr. Compared to ₹15 Cr in Mar 2022, the net profit shows a declining trend.

Does Vardhman Acrylics Ltd pay dividends?

Vardhman Acrylics Ltd has a dividend yield of 5.10 % at the current price of ₹29.40. This is a relatively attractive yield for income-seeking investors.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Vardhman Acrylics Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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