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Swing Capital

Vardhman Polytex Ltd

NSE: VARDMNPOLY BSE: 514175

Incorporated in 1981, Vardhman Polytex Ltd manufactures cotton and blended yarns as well as garments.[1]

₹6.39
52W: ₹5.02 — ₹13.7
PE 39.6 · Book ₹4.81 · +33% vs book
Market Cap₹309 Cr
Stock P/E39.6Price to Earnings
ROCE0%Return on Capital
ROE0%Return on Equity
Div. Yield0%Face Value ₹1

Strengths

  • +Company has reduced debt.
  • +Promoter holding has increased by 3.28% over last quarter.

Weaknesses

  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of -12.6% over past five years.
  • −Promoter holding is low: 37.5%
  • −Contingent liabilities of Rs.153 Cr.
  • −Promoters have pledged 60.3% of their holding.
  • −Earnings include an other income of Rs.16.2 Cr.
  • −Company's cost of borrowing seems high
  • −Promoter holding has decreased over last 3 years: -22.7%

Shareholding Pattern

Promoters37.5%
FIIs5.62%
DIIs0%
Public56.87%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters49.14%49.14%30.75%▼18.434.22%▲3.534.22%34.22%34.22%37.5%▲3.3
FIIs0.24%0.32%▲0.10.64%▲0.30.54%▼0.10.21%▼0.30.33%▲0.10.46%▲0.15.62%▲5.2
DIIs0.01%0.01%0%▼0.00%0%0%0%0%
Public50.62%50.53%▼0.168.6%▲18.165.24%▼3.465.58%▲0.365.45%▼0.165.33%▼0.156.87%▼8.5

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales100.660.8173.6964.0364.475.3581.259.5461.7250.6
Expenses120.8578.3374.6573.0568.2148.6683.1757.8850.9650.49
Operating Profit-20.25-17.52-0.96-9.02-3.8126.69-1.971.6610.760.11
OPM %-20.13%-28.81%-1.3%-14.09%-5.92%35.42%-2.43%2.79%17.43%0.22%
Net Profit-34.075.310.95-10.750.6324.060.990.196.460.15
EPS ₹-1.070.150.03-0.30.020.550.0200.140

AI Insights

Revenue Trend

TTM revenue at ₹253Cr, down 11.2% YoY. OPM at 4%.

Debt Position

Borrowings at ₹49Cr. Debt-to-equity ratio: N/Ax. High leverage — monitor closely.

Capex Cycle

CWIP at ₹2Cr (2% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0% (-0.01pp change). FIIs: 5.62% (+4.10pp change). Promoters hold 37.5%.

Margin & Efficiency

ROCE declining from 13% (Mar 2014) to 0% (Mar 2025). Working capital days: -88.

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