Skip to main content
Swing Capital

Vadilal Industries Ltd

NSE: VADILALIND BSE: 519156Retail

Vadilal was started as a soda company in 1907, the founder Vadilal Gandhi used to make ice cream by the traditional Kothi method. Vadilal Gandhi passed on the business to his son, Ranchod Lal Gandhi, who ran a one-man operation with a hand-cranked machine, started a small retail outlet in 1926. [1]

₹4,119
52W: ₹3990 — ₹7100
PE 41.5 · Book ₹760 · +442% vs book
Market Cap₹2,962 Cr
Stock P/E41.5Price to Earnings
ROCE28.9%Return on Capital
ROE25.6%Return on Equity
Div. Yield0.51%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company has delivered good profit growth of 28.5% CAGR over last 5 years
  • +Company has a good return on equity (ROE) track record: 3 Years ROE 27.2%

Weaknesses

  • −Debtor days have increased from 26.3 to 40.6 days.
  • −Working capital days have increased from 38.2 days to 70.5 days

Shareholding Pattern

Promoters64.72%
FIIs0.58%
DIIs0.42%
Public34.27%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters64.72%64.72%64.72%64.72%64.72%64.72%64.72%64.72%
FIIs0.38%0.35%▼0.00.3%▼0.00.68%▲0.40.77%▲0.10.57%▼0.20.56%▼0.00.58%▲0.0
DIIs0%0.05%▲0.10%▼0.10%0.44%▲0.40.47%▲0.00.42%▼0.00.42%
Public34.9%34.88%▼0.034.97%▲0.134.58%▼0.434.06%▼0.534.23%▲0.234.29%▲0.134.27%▼0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales229129199402233145232425247140
Expenses194131164312196132201348228156
Operating Profit35-136893713317719-16
OPM %15%-1%18%22%16%9%13%18%8%-11%
Net Profit23-42263247195313-14
EPS ₹31.46-6.2230.3287.7333.7910.3926.5274.2418.43-19.87

AI Insights

Revenue Trend

TTM revenue at ₹1,044Cr, up 3.3% YoY. OPM at 11%.

Debt Position

Borrowings at ₹79Cr. Debt-to-equity ratio: 0.15x. Healthy balance sheet.

Capex Cycle

CWIP at ₹10Cr (3% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.42% (+0.42pp change). FIIs: 0.58% (+0.55pp change). Promoters hold 64.72%.

Margin & Efficiency

ROCE improving from 10% (Mar 2014) to 29% (Mar 2025). Working capital days: 70.

Valuation

PE 41.5x with 28.9% ROCE. Price is 442% above book value of ₹760. Dividend yield: 0.51%.

Recent Announcements