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Swing Capital

Vardhman Acrylics Ltd

NSE: VARDHACRLC

Incorporated in 1990, Vardhman Acrylics Ltd is a manufacturer and supplier of Acrylic Fibre and Tow[1]

₹43.3
52W: ₹27 — ₹54.2
PE 12.7 · Book ₹31.6 · +37% vs book
Market Cap₹348 Cr
Stock P/E12.7Price to Earnings
ROCE11.8%Return on Capital
ROE11.1%Return on Equity
Div. Yield3.45%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 79.3%

Weaknesses

  • −The company has delivered a poor sales growth of 2.60% over past five years.
  • −Tax rate seems low
  • −Company has a low return on equity of 7.74% over last 3 years.
  • −Earnings include an other income of Rs.15.2 Cr.
  • −Working capital days have increased from 81.0 days to 219 days

Shareholding Pattern

Promoters74.97%
FIIs0.02%
DIIs0%
Public25.01%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters74.97%74.97%74.97%74.97%74.97%74.97%74.97%74.97%
FIIs0.18%0.19%▲0.00.13%▼0.10.13%0.14%▲0.00.02%▼0.10.02%0.02%
DIIs0%0%0%0%0%0%0%0%
Public24.85%24.83%▼0.024.9%▲0.124.9%24.89%▼0.025.01%▲0.125.01%25.01%

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales62685771827269897684
Expenses57645570817270896973
Operating Profit552110-10710
OPM %8%7%4%1%1%0%-1%0%9%12%
Net Profit65424222716
EPS ₹0.70.660.540.190.490.240.220.310.921.94

AI Insights

Revenue Trend

Mar 2026 revenue at ₹319Cr, up 13.1% YoY. OPM at 5%.

Debt Position

Borrowings at ₹0Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0.02% (-0.11pp change). Promoters hold 74.97%.

Margin & Efficiency

ROCE improving from 12% (Mar 2015) to 12% (Mar 2026). Working capital days: 219.

Valuation

PE 12.7x with 11.8% ROCE. Price is 37% above book value of ₹31.6. Dividend yield: 3.45%.

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