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Last Updated: April 2, 2026, 3:53 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 514175 | NSE: VARDMNPOLY

Vardhman Polytex Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹24.73Undervalued by 264.75%vs CMP ₹6.78

P/E (42.0) × ROE (15.0%) × BV (₹4.81) × DY (2.00%)

Defaults: ROE=15%

₹9.51Undervalued by 40.27%vs CMP ₹6.78
MoS: +28.7% (Adequate)Confidence: 53/100 (Moderate)Models: 1 Under, 5 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹27.4627%Under (+305%)
Graham NumberEarnings₹4.1620%Over (-38.6%)
DCFCash Flow₹1.8620%Over (-72.6%)
EV/EBITDAEnterprise₹3.3414%Over (-50.7%)
Earnings YieldEarnings₹1.6011%Over (-76.4%)
Revenue MultipleRevenue₹2.958%Over (-56.5%)
Consensus (6 models)₹9.51100%Undervalued
Key Drivers: Wide model spread (₹2–₹27) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 11.1% · Defaults: ROE=15%

*Investments are subject to market risks

Investment Snapshot

36
Vardhman Polytex Ltd scores 36/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health34/100 · Weak
ROCE 0.0% WeakROE 0.0% WeakD/E -2.11 Low debtInterest Coverage 0.0x RiskyProfitable 2/5 years Inconsistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 34.2% Stable
Earnings Quality40/100 · Moderate
OPM contracting (0% → -4%) Declining
Quarterly Momentum15/100 · Weak
Revenue (4Q): -9% YoY DecliningProfit (4Q): -48% YoY DecliningOPM: 0.2% (down 35.2% YoY) Margin pressure
Industry Rank55/100 · Moderate
P/E 42.0 vs industry 474.3 Cheaper than peers3Y sales CAGR: -33% 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: April 2, 2026, 3:53 am

Market Cap 327 Cr.
Current Price 6.78
Intrinsic Value₹9.51
High / Low 13.7/5.02
Stock P/E42.0
Book Value 4.81
Dividend Yield0.00 %
ROCE%
ROE%
Face Value 1.00
PEG Ratio3.80

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

View Share Price Target for Vardhman Polytex Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Vardhman Polytex Ltd 327 Cr. 6.78 13.7/5.0242.0 4.810.00 %%% 1.00
Axita Cotton Ltd 331 Cr. 8.65 12.2/7.26138 1.710.00 %2.35 %0.94 % 1.00
Ginni Filaments Ltd 303 Cr. 35.3 57.8/19.96.29 25.70.00 %5.28 %2.14 % 10.0
Ashima Ltd 248 Cr. 12.9 36.3/11.3 15.00.00 %1.83 %5.75 % 10.0
Rudra Ecovation Ltd 198 Cr. 16.6 55.5/14.0 9.080.00 %3.03 %5.73 % 1.00
Industry Average3,322.90 Cr165.80474.26127.360.51%9.16%7.98%7.02

All Competitor Stocks of Vardhman Polytex Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 92.97163.14135.53100.6060.8173.6964.0364.4075.3581.2059.5461.7250.60
Expenses 111.14178.39138.70120.8578.3374.6573.0568.2148.6683.1757.8850.9650.49
Operating Profit -18.17-15.25-3.17-20.25-17.52-0.96-9.02-3.8126.69-1.971.6610.760.11
OPM % -19.54%-9.35%-2.34%-20.13%-28.81%-1.30%-14.09%-5.92%35.42%-2.43%2.79%17.43%0.22%
Other Income 51.5922.9519.791.792.874.525.049.363.168.533.741.722.24
Interest 13.9312.6912.8312.96-22.580.144.442.603.593.453.694.270.45
Depreciation 2.972.902.742.652.622.472.332.332.202.131.521.751.75
Profit before tax 16.52-7.891.05-34.075.310.95-10.750.6224.060.980.196.460.15
Tax % 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Net Profit 16.52-7.891.05-34.075.310.95-10.750.6324.060.990.196.460.15
EPS in Rs 0.57-0.270.04-1.070.150.03-0.300.020.550.020.000.140.00

Last Updated: March 3, 2026, 1:56 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 921941876859618808560507928615376285253
Expenses 829878814792659807560493868651418273242
Operating Profit 92636266-411-01459-36-421211
OPM % 10%7%7%8%-7%0%-0%3%6%-6%-11%4%4%
Other Income 20-125014-295317733103292616
Interest 7576746068606059645331412
Depreciation 333228212118161514121097
Profit before tax 3-589-1-424-74102-57-162-27158
Tax % -44%-50%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%
Net Profit 5-299-1-424-74102-57-161-27158
EPS in Rs 0.19-0.990.31-0.02-14.57-2.553.50-1.95-0.530.05-0.750.330.16
Dividend Payout % -0%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-680.00%131.03%-111.11%-42300.00%82.55%237.84%-155.88%71.93%106.25%-2800.00%155.56%
Change in YoY Net Profit Growth (%)0.00%811.03%-242.15%-42188.89%42382.55%155.29%-393.72%227.81%34.32%-2906.25%2955.56%

Vardhman Polytex 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:-11%
5 Years:-13%
3 Years:-33%
TTM:-6%
Compounded Profit Growth
10 Years:-37%
5 Years:15%
3 Years:26%
TTM:167%
Stock Price CAGR
10 Years:8%
5 Years:60%
3 Years:55%
1 Year:-27%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:%

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

Balance Sheet

Last Updated: December 4, 2025, 2:11 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 20222222222222222222274646
Reserves 1091068585-339-414-313-370-386-385-388-273-266
Borrowings 465451405396448446490523529447765049
Other Liabilities 121118115122264269113130161206560454458
Total Liabilities 715697627626395324313306326291276276286
Fixed Assets 28325823924422921119518217015913011499
CWIP 8475300000032
Investments 137929292000000000
Other Assets 287344290285163112117123156133146160185
Total Assets 715697627626395324313306326291276276286

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 627610876496313246140-14-98
Cash from Investing Activity + -111-7-20-5-10-1-1-12631
Cash from Financing Activity + -64-79-104-55-50-64-14-23-61-39-1267
Net Cash Flow -13-2-41-5-1-0-0001-1
Free Cash Flow 4965985143621322613912-75
CFO/OP 67%122%175%114%-122%7,369%-3,834%167%104%-111%33%-824%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-373.00-388.00-343.00-330.00-489.00-445.00-490.00-509.00-470.00-483.00-118.00-38.00

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 26203133164464005
Inventory Days 557744473212181923111977
Days Payable 39383942312653745499209171
Cash Conversion Cycle 4259363818-10-31-49-26-88-190-88
Working Capital Days -39-35-54-68-284-295-358-430-233-346-167-88
ROCE %13%9%15%12%-18%-16%-10%1%28%-34%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 60.16%60.16%55.21%49.14%49.14%49.14%49.14%30.75%34.22%34.22%34.22%34.22%
FIIs 2.82%1.52%1.40%0.65%0.38%0.24%0.32%0.64%0.54%0.21%0.33%0.46%
DIIs 0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.00%0.00%0.00%0.00%0.00%
Public 37.02%38.31%43.40%50.20%50.47%50.62%50.53%68.60%65.24%65.58%65.45%65.33%
No. of Shareholders 16,08514,75213,82513,52913,37119,67423,18926,80226,72530,51032,77133,681

Shareholding Pattern Chart

No. of Shareholders

Vardhman Polytex 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.) -6.96-25.4345.68-33.20-77.00
Diluted EPS (Rs.) -6.96-25.4345.68-33.20-77.00
Cash EPS (Rs.) -0.80-18.8652.73-24.91-63.50
Book Value[Excl.RevalReserv]/Share (Rs.) -163.10-156.34-130.51-175.60-105.53
Book Value[Incl.RevalReserv]/Share (Rs.) -163.10-156.34-130.51-175.60-105.53
Revenue From Operations / Share (Rs.) 416.66228.13251.61363.15287.10
PBDIT / Share (Rs.) 27.987.621.301.86-25.65
PBIT / Share (Rs.) 21.831.04-5.75-6.38-39.04
PBT / Share (Rs.) -6.95-25.4345.69-33.14-76.89
Net Profit / Share (Rs.) -6.96-25.4345.68-33.14-76.89
NP After MI And SOA / Share (Rs.) -6.96-25.4345.68-33.14-76.89
PBDIT Margin (%) 6.713.330.510.51-8.93
PBIT Margin (%) 5.230.45-2.28-1.75-13.59
PBT Margin (%) -1.66-11.1418.15-9.12-26.78
Net Profit Margin (%) -1.66-11.1418.15-9.12-26.78
NP After MI And SOA Margin (%) -1.66-11.1418.15-9.12-26.78
Return on Networth / Equity (%) 0.000.00-35.000.000.00
Return on Capital Employeed (%) -13.49-0.674.493.69-429.63
Return On Assets (%) -4.75-18.5532.94-22.84-33.46
Long Term Debt / Equity (X) 0.000.00-0.01-0.01-1.02
Total Debt / Equity (X) -1.45-1.50-1.68-1.14-2.11
Asset Turnover Ratio (%) 2.941.651.771.941.18
Current Ratio (X) 0.130.080.080.070.21
Quick Ratio (X) 0.070.050.040.040.12
Inventory Turnover Ratio (X) 22.6118.4820.5018.066.44
Interest Coverage Ratio (X) 0.970.280.040.06-0.69
Interest Coverage Ratio (Post Tax) (X) 0.750.03-0.21-0.23-1.06
Enterprise Value (Cr.) 583.32560.43498.18465.14547.10
EV / Net Operating Revenue (X) 0.621.100.880.570.85
EV / EBITDA (X) 9.3533.01171.97112.28-9.55
MarketCap / Net Operating Revenue (X) 0.050.070.010.020.06
Price / BV (X) -0.14-0.10-0.03-0.05-0.17
Price / Net Operating Revenue (X) 0.050.070.010.020.06
EarningsYield -0.28-1.4811.09-3.68-4.21

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Vardhman Polytex Ltd. is a Public Limited Listed company incorporated on 20/08/1980 and has its registered office in the State of Punjab, India. Company's Corporate Identification Number(CIN) is L17122PB1980PLC004242 and registration number is 004242. Currently Company is involved in the business activities of Spinning, weaving and finishing of textiles. Company's Total Operating Revenue is Rs. 284.98 Cr. and Equity Capital is Rs. 45.89 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Textiles - Spinning - Cotton BlendedVardhman Park, Ludhiana Punjab 141123Contact not found
Management
NamePosition Held
Mr. Adish OswalChairman & Managing Director
Mrs. Manju OswalDirector
Mr. Suresh Kumar BankaDirector
Mr. Sagar BhatiaIndependent Director
Mrs. Sanchi TanejaIndependent Director
Mr. Rohit JainIndependent Director

FAQ

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

As of 14 April 2026, Vardhman Polytex Ltd's intrinsic value is ₹9.51, which is 40.27% higher than the current market price of ₹6.78, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (%), book value (₹4.81), dividend yield (0.00 %), and 5-year EPS CAGR.

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

Vardhman Polytex Ltd is trading at ₹6.78 as of 14 April 2026, with a FY2026-2027 high of ₹13.7 and low of ₹5.02. The stock is currently near its 52-week low. Market cap stands at ₹327 Cr..

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

Vardhman Polytex Ltd has a P/E ratio of 42.0, which is below the industry average of 474.26. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Vardhman Polytex Ltd financially healthy?

Key indicators for Vardhman Polytex Ltd: ROCE of % is on the lower side compared to the industry average of 9.16%; ROE of % is below ideal levels (industry average: 7.98%). Dividend yield is 0.00 %.

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

Vardhman Polytex Ltd reported a net profit of ₹15 Cr in Mar 2025 on revenue of ₹285 Cr. Compared to ₹-16 Cr in Mar 2022, the net profit shows an improving trend.

Does Vardhman Polytex Ltd pay dividends?

Vardhman Polytex Ltd has a dividend yield of 0.00 % at the current price of ₹6.78. The company is currently not paying meaningful dividends.

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 Polytex 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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