Vardhman Holdings Ltd: Intrinsic Value & Share Price Analysis

Q: What is the current share price and 52-week range of Vardhman Holdings Ltd?

Vardhman Holdings Ltd is trading at 3,645.00 as of 10 May 2026, with a FY2026-2027 high of 4,469 and low of 2,870. The stock is currently in the middle of its 52-week range. Market cap stands at 1,133 Cr..

Q: Is Vardhman Holdings Ltd financially healthy?

Key indicators: ROCE of 7.98 % is on the lower side. Dividend yield is 0.14 %.

Q: Is Vardhman Holdings Ltd profitable and how is the profit trend?

Vardhman Holdings Ltd reported a net profit of 258 Cr in Mar 2025 on revenue of 23 Cr. Compared to 429 Cr in Mar 2022, the net profit shows a declining trend.

Fair Value

₹3,454.90Fairly Valued by 5.22%vs CMP ₹3,645.00

P/E (4.9) × ROE (7.6%) × BV (₹11,705.00) × DY (0.14%)

₹7,195.11Undervalued by 97.40%vs CMP ₹3,645.00

MoS: +49.3% (Strong)Confidence: 48/100 (Moderate)Models: 5 Under, 1 Fair, 3 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹3,882.62	23%	Fair (+6.5%)
Graham Number	Earnings	₹13,840.59	16%	Under (+279.7%)
Earnings Power	Earnings	₹6,054.45	11%	Under (+66.1%)
DCF	Cash Flow	₹13,638.53	14%	Under (+274.2%)
Net Asset Value	Assets	₹12,015.95	7%	Under (+229.7%)
EV/EBITDA	Enterprise	₹656.29	9%	Over (-82%)
Earnings Yield	Earnings	₹7,273.70	7%	Under (+99.6%)
ROCE Capital	Returns	₹811.08	7%	Over (-77.7%)
Revenue Multiple	Revenue	₹110.99	5%	Over (-97%)
Consensus (9 models)		₹7,195.11	100%	Undervalued

Key Drivers: Wide model spread (₹111–₹13,841) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 12.4%

*Investments are subject to market risks

Analyst Summary

Vardhman Holdings Ltd operates in the Finance & Investments segment, current market price is ₹3,645.00, market cap is 1,133 Cr.. At a glance, stock P/E is 4.88, ROE is 7.55 %, ROCE is 7.98 %, book value is 11,705, dividend yield is 0.14 %. The latest intrinsic value estimate is ₹7,195.11, which is about 97.4% above the current price, so the page currently reads as potentially undervalued rather than fully priced. On operating trend, latest reported sales are about ₹23 Cr versus the prior period change of 53.3%, while latest net profit is about ₹258 Cr with a prior-period change of 39.5%. The 52-week range shown on this page is 4,469/2,870, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisVardhman 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 L171…

This summary is generated from the stock page data available for Vardhman Holdings Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

Vardhman Holdings Ltd scores 57/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health61/100 · Moderate

ROCE 8.0% WeakROE 7.6% AverageD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent

Smart Money50/100 · Moderate

FII holding stable No changePromoter holding at 74.9% Stable

Earnings Quality65/100 · Strong

OPM expanding (59% → 72%) Improving

Quarterly Momentum53/100 · Moderate

Revenue (4Q): -33% YoY DecliningProfit (4Q): +9% YoY PositiveOPM: 91.0% (up 12.0% YoY) Margin expansion

Industry Rank45/100 · Moderate

P/E 4.9 vs industry 113.6 Cheaper than peersROCE 8.0% vs industry 21.3% Below peers3Y sales CAGR: -11% 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.

Share Price and Basic Stock Data

Last Updated: May 5, 2026, 1:56 am

Market Cap	1,133 Cr.
Current Price	3,645
Intrinsic Value	₹7,195.11
High / Low	4,469/2,870
Stock P/E	4.88
Book Value	11,705
Dividend Yield	0.14 %
ROCE	7.98 %
ROE	7.55 %
Face Value	10.0
PEG Ratio	0.39

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

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Vardhman Holdings Ltd	1,133 Cr.	3,645	4,469/2,870	4.88	11,705	0.14 %	7.98 %	7.55 %	10.0
Centrum Capital Ltd	1,146 Cr.	24.8	41.9/19.7		9.83	0.00 %	8.93 %	57.6 %	1.00
Jindal Poly Investment & Finance Company Ltd	1,157 Cr.	1,104	1,488/660	1.30	1,557	0.00 %	12.8 %	14.2 %	10.0
Arunis Abode Ltd	1,105 Cr.	90.7	106/7.65	40.5	17.5	1.10 %	31.8 %	24.9 %	10.0
Wealth First Portfolio Managers Ltd	993 Cr.	936	1,440/690	44.6	137	2.14 %	37.5 %	28.5 %	10.0
Industry Average	6,889.95 Cr	1,278.05		113.64	4,362.08	0.38%	21.34%	13.78%	7.23

All Competitor Stocks of Vardhman Holdings Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	4	-5	6	30	8	0	7	7	7	2	3	3	6
Expenses	1	2	0	1	0	3	1	3	1	1	0	0	1
Operating Profit	4	-7	5	30	7	-3	5	5	5	1	3	2	5
OPM %	83%		92%	98%	95%	-3,786%	81%	66%	79%	55%	91%	87%	91%
Other Income	30	46	40	39	47	28	69	57	61	69	60	55	50
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	33	39	45	69	54	26	74	62	66	70	63	57	55
Tax %	0%	-6%	3%	10%	2%	1%	2%	20%	1%	1%	1%	20%	2%
Net Profit	33	41	44	62	54	26	73	49	66	70	63	46	54
EPS in Rs	103.71	127.87	137.21	194.05	167.95	80.15	229.14	154.72	206.05	218.49	196.08	144.51	168.29

Last Updated: March 3, 2026, 1:56 pm

Quarterly Chart

Profit & Loss - Annual Report

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

Metric	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	13	70	28	9	12	20	33	6	15	23	14
Expenses	4	2	3	3	6	2	3	4	4	6	2
Operating Profit	9	68	25	6	7	18	30	2	11	17	12
OPM %	72%	97%	89%	68%	53%	89%	91%	26%	71%	73%	85%
Other Income	151	242	157	196	155	116	429	223	184	256	234
Interest	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	160	310	181	202	161	133	459	225	194	273	246
Tax %	1%	2%	1%	0%	1%	3%	7%	-2%	5%	5%
Net Profit	159	303	179	202	160	130	429	228	185	258	232
EPS in Rs	496.88	950.05	559.83	632.40	500.42	405.80	1,344.45	715.74	579.29	808.40	727.37
Dividend Payout %	1%	1%	1%	1%	0%	1%	0%	1%	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	2024-2025
YoY Net Profit Growth (%)	90.57%	-40.92%	12.85%	-20.79%	-18.75%	230.00%	-46.85%	-18.86%	39.46%
Change in YoY Net Profit Growth (%)	0.00%	-131.49%	53.77%	-33.64%	2.04%	248.75%	-276.85%	27.99%	58.32%

Vardhman Holdings Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2016-2017 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	13%
3 Years:	-12%
TTM:	-56%

Compounded Profit Growth
10 Years:	%
5 Years:	10%
3 Years:	-16%
TTM:	2%

Stock Price CAGR
10 Years:	14%
5 Years:	24%
3 Years:	9%
1 Year:	-2%

Return on Equity
10 Years:	%
5 Years:	9%
3 Years:	7%
Last Year:	8%

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

Balance Sheet

Last Updated: March 3, 2026, 12:17 am

Month	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	3	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	3,537	3,732
Borrowings	0	0	0	0	0	0	0	0	0	0	0
Other Liabilities	2	5	3	5	4	2	1	1	1	1	15
Total Liabilities	1,249	1,553	1,825	2,003	2,130	2,307	2,778	3,101	3,298	3,541	3,751
Fixed Assets	1	1	3	3	3	3	3	3	3	3	3
CWIP	0	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	3,528	3,745
Other Assets	9	46	46	48	147	137	36	32	25	10	3
Total Assets	1,249	1,553	1,825	2,003	2,130	2,307	2,778	3,101	3,298	3,541	3,751

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	-34	2	6	-95	82	-5	1	-3	-6
Cash from Investing Activity +	36	0	-3	99	-10	-69	2	4	5
Cash from Financing Activity +	-1	-2	-2	-2	-0	-2	-2	-2	-2
Net Cash Flow	1	0	1	2	72	-75	2	-0	-2
Free Cash Flow	-34	0	6	-95	82	-5	1	-3	-6
CFO/OP	7%	38%	98%	-1,359%	487%	56%	263%	31%	9%

Free Cash Flow

Month	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	9.00	68.00	25.00	6.00	7.00	18.00	30.00	2.00	11.00	17.00

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	Mar 2025
Debtor Days	0	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	0
Working Capital Days	82	194	41	19	2,908	372	98	569	236	92
ROCE %		22%	11%	11%	8%	6%	18%	8%	6%	8%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
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	0.04%	0.03%	0.03%	0.03%	0.03%	0.06%	0.06%	0.07%	0.06%	0.06%	0.05%	0.05%
DIIs	0.96%	0.96%	0.96%	0.97%	0.56%	0.53%	0.13%	0.06%	0.06%	0.06%	0.06%	0.07%
Public	24.09%	24.10%	24.10%	24.10%	24.51%	24.51%	24.90%	24.98%	24.98%	24.99%	24.99%	24.99%
No. of Shareholders	9,592	9,426	9,276	9,097	9,185	9,598	9,833	11,119	11,330	11,239	11,194	10,846

Shareholding Pattern Chart

No. of Shareholders

Vardhman Holdings 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

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	808.40	579.28	715.75	1344.43	405.80
Diluted EPS (Rs.)	808.40	579.28	715.75	1344.43	405.80
Cash EPS (Rs.)	10.90	11.51	21.64	4.63	47.17
Book Value[Excl.RevalReserv]/Share (Rs.)	11090.29	10328.20	9709.30	8698.27	7222.76
Book Value[Incl.RevalReserv]/Share (Rs.)	11090.29	10328.20	9709.30	8698.27	7222.76
Revenue From Operations / Share (Rs.)	71.34	46.68	18.43	103.65	61.98
PBDIT / Share (Rs.)	57.79	40.83	10.64	99.83	58.77
PBIT / Share (Rs.)	57.77	40.81	10.62	99.81	58.74
PBT / Share (Rs.)	57.77	40.81	10.62	99.81	58.74
Net Profit / Share (Rs.)	10.88	11.49	21.62	4.60	47.14
NP After MI And SOA / Share (Rs.)	808.18	579.13	715.55	1344.06	405.69
PBDIT Margin (%)	81.00	87.47	57.72	96.31	94.82
PBIT Margin (%)	80.97	87.42	57.60	96.29	94.78
PBT Margin (%)	80.97	87.42	57.60	96.29	94.78
Net Profit Margin (%)	15.24	24.61	117.27	4.43	76.06
NP After MI And SOA Margin (%)	1132.77	1240.70	3881.93	1296.72	654.59
Return on Networth / Equity (%)	7.28	5.60	7.36	15.45	5.61
Return on Capital Employeed (%)	0.52	0.39	0.10	1.14	0.81
Return On Assets (%)	7.28	5.60	7.36	15.44	5.61
Asset Turnover Ratio (%)	0.01	0.00	0.00	0.07	0.01
Current Ratio (X)	50453.20	19747.96	22854.20	14980.93	2786.68
Quick Ratio (X)	50453.20	19747.96	22854.20	14980.93	2786.68
Dividend Payout Ratio (NP) (%)	0.61	0.86	0.00	0.37	0.00
Dividend Payout Ratio (CP) (%)	0.61	0.86	0.00	0.37	0.00
Earning Retention Ratio (%)	99.39	99.14	0.00	99.63	0.00
Cash Earning Retention Ratio (%)	99.39	99.14	0.00	99.63	0.00
Enterprise Value (Cr.)	1072.80	888.03	815.35	1164.42	489.85
EV / Net Operating Revenue (X)	47.10	59.59	138.56	35.19	24.76
EV / EBITDA (X)	58.15	68.13	240.04	36.54	26.11
MarketCap / Net Operating Revenue (X)	47.17	59.85	139.24	35.27	28.62
Retention Ratios (%)	99.38	99.13	0.00	99.62	0.00
Price / BV (X)	0.30	0.27	0.26	0.42	0.24
Price / Net Operating Revenue (X)	47.17	59.85	139.25	35.27	28.62
EarningsYield	0.24	0.20	0.27	0.36	0.22

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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. 56.11 Cr. and Equity Capital is Rs. 3.19 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Investment Company	Vardhman Premises, Ludhiana Punjab 141010	Contact not found

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

FAQ

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

As of 10 May 2026, Vardhman Holdings Ltd's intrinsic value is ₹7195.11, which is 97.40% higher than the current market price of ₹3,645.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (7.55 %), book value (₹11,705), dividend yield (0.14 %), and 5-year EPS CAGR.

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

Vardhman Holdings Ltd is trading at ₹3,645.00 as of 10 May 2026, with a FY2026-2027 high of ₹4,469 and low of ₹2,870. The stock is currently in the middle of its 52-week range. Market cap stands at ₹1,133 Cr..

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

Vardhman Holdings Ltd has a P/E ratio of 4.88, which is below the industry average of 113.64. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Vardhman Holdings Ltd financially healthy?

Key indicators for Vardhman Holdings Ltd: ROCE of 7.98 % is on the lower side compared to the industry average of 21.34%; ROE of 7.55 % is below ideal levels (industry average: 13.78%). Dividend yield is 0.14 %.

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

Vardhman Holdings Ltd reported a net profit of ₹258 Cr in Mar 2025 on revenue of ₹23 Cr. Compared to ₹429 Cr in Mar 2022, the net profit shows a declining trend.

Does Vardhman Holdings Ltd pay dividends?

Vardhman Holdings Ltd has a dividend yield of 0.14 % at the current price of ₹3,645.00. The company pays dividends, though the yield is modest.