Vardhman Polytex Ltd

₹ 9.05 -2.06%

22 Nov - close price

oswalgroup.com BSE: 514175 NSE: VARDMNPOLY

About

Incorporated in 1981, Vardhman Polytex
Ltd manufactures yarn and garments^[1]

Key Points

Business Overview:^[1]^[2]
VPL is a flagship company of Oswal Group. It manufactures range of Cotton Yarns (Carded, Combed, Organic, BCI), Cotton Polyester Yarns and Value Added Yarns (Grey and Dyed) in variable counts. Company has entered into arrangement with few vendors, from whom company is purchases raw materials, processes it and sells the finished output back to them

Website BSE NSE - BE

Market Cap ₹ 376 Cr.
Current Price ₹ 9.05
High / Low ₹ 13.8 / 5.72
Stock P/E
Book Value ₹ -12.5
Dividend Yield 0.00 %
ROCE 28.4 %
ROE %
Face Value ₹ 1.00

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Pros

Company is expected to give good quarter

Cons

Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -16.8%
The company has delivered a poor sales growth of 0.06% over past five years.
Promoter holding is low: 32.3%
Promoters have pledged 81.5% of their holding.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Textiles Industry: Textiles - Cotton/Blended

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021
	202.74	213.33	204.50	97.83	122.94	135.59	42.79	120.64	151.12	193.97	191.58	215.13	244.00
	203.97	209.92	204.85	100.57	124.69	131.03	45.94	120.70	151.36	176.16	173.90	198.83	231.99
Operating Profit	-1.23	3.41	-0.35	-2.74	-1.75	4.56	-3.15	-0.06	-0.24	17.81	17.68	16.30	12.01
OPM %	-0.61%	1.60%	-0.17%	-2.80%	-1.42%	3.36%	-7.36%	-0.05%	-0.16%	9.18%	9.23%	7.58%	4.92%
	0.84	0.52	0.66	0.74	0.94	175.19	0.66	0.65	0.66	0.64	0.60	1.14	0.78
Interest	14.74	14.63	14.25	15.34	15.53	14.57	15.35	16.54	11.06	16.05	15.21	15.76	15.82
Depreciation	4.62	4.44	4.58	3.79	3.75	3.59	3.70	3.88	3.50	3.58	3.52	3.51	3.44
Profit before tax	-19.75	-15.14	-18.52	-21.13	-20.09	161.59	-21.54	-19.83	-14.14	-1.18	-0.45	-1.83	-6.47
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%
	-19.75	-15.14	-18.52	-21.14	-20.09	161.59	-21.53	-19.84	-14.14	-1.19	-0.45	-1.83	-6.46
EPS in Rs	-0.68	-0.52	-0.64	-0.73	-0.69	5.55	-0.74	-0.68	-0.49	-0.04	-0.02	-0.06	-0.22
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
	803	852	939	1,051	1,019	951	925	637	808	560	507	928
	689	871	837	947	950	889	863	698	807	560	493	868
Operating Profit	114	-19	102	104	69	62	61	-61	2	-0	15	59
OPM %	14%	-2%	11%	10%	7%	6%	7%	-10%	0%	-0%	3%	6%
	5	22	13	24	-10	52	12	3	2	177	3	3
Interest	57	86	76	88	91	90	77	84	60	60	59	64
Depreciation	39	45	52	48	42	38	30	30	18	16	15	14
Profit before tax	23	-127	-13	-8	-74	-15	-33	-172	-74	102	-57	-16
Tax %	40%	-18%	-48%	-18%	-40%	0%	0%	0%	0%	0%	0%	0%
	14	-100	-7	-6	-45	-15	-33	-172	-74	102	-57	-16
EPS in Rs	0.77	-4.55	-0.21	-0.25	-1.54	-0.52	-1.15	-5.90	-2.54	3.50	-1.95	-0.53
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	1%
5 Years:	0%
3 Years:	5%
TTM:	83%

Compounded Profit Growth
10 Years:	6%
5 Years:	9%
3 Years:	21%
TTM:	72%

Stock Price CAGR
10 Years:	5%
5 Years:	102%
3 Years:	56%
1 Year:	43%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Equity Capital	16	16	18	20	22	22	22	22	22	22	22	22
Reserves	117	19	23	32	6	-40	-86	-258	-414	-313	-371	-386
	652	660	654	613	581	534	530	581	446	490	523	529
	82	86	129	154	149	159	189	168	270	113	131	161
Total Liabilities	868	781	823	819	758	676	655	513	324	313	306	326
	481	554	517	490	397	368	363	340	211	196	183	170
CWIP	30	22	14	8	4	7	7	3	0	0	0	0
Investments	1	1	3	8	0	0	0	0	0	0	0	0
	355	205	290	313	357	301	286	170	112	117	123	156
Total Assets	868	781	823	819	758	676	655	513	324	313	306	326

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
	-2	214	90	71	85	109	92	51	134	13	24	61
	-25	-90	-2	-11	2	-7	-24	-5	114	0	-1	-1
	28	-132	-70	-72	-90	-103	-68	-51	-251	-14	-23	-61
Net Cash Flow	1	-8	18	-12	-4	-1	-0	-5	-4	-0	-0	0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Debtor Days	41	27	38	33	26	35	34	16	4	4	6	4
Inventory Days	127	28	45	56	81	49	51	32	12	18	19	23
Days Payable	27	23	49	46	43	44	47	38	26	53	74	54
Cash Conversion Cycle	141	33	33	43	64	41	38	10	-10	-31	-49	-26
Working Capital Days	101	-13	-2	7	19	8	-6	-75	-97	-40	-54	-25
ROCE %		-7%	8%	10%	8%	12%	9%	-21%	-7%	-10%	1%	28%

Shareholding Pattern

Numbers in percentages

4 Recently

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Nov 2024
	60.16%	60.16%	60.16%	60.16%	60.16%	60.16%	55.21%	49.14%	49.14%	49.14%	49.14%	32.31%
	1.49%	1.81%	1.83%	1.96%	2.82%	1.52%	1.40%	0.65%	0.38%	0.24%	0.32%	0.24%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.00%
	38.34%	38.02%	38.00%	37.87%	37.02%	38.31%	43.40%	50.20%	50.47%	50.62%	50.53%	67.44%
No. of Shareholders	16,344	16,467	16,429	16,437	16,085	14,752	13,825	13,529	13,371	19,674	23,189	23,692

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Nov 2024
	60.13%	60.13%	60.18%	60.18%	60.18%	60.16%	60.16%	49.14%	32.31%
	1.15%	1.15%	1.15%	1.15%	1.15%	1.49%	2.82%	0.38%	0.24%
	0.01%	0.20%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.00%
	38.70%	38.52%	38.66%	38.66%	38.66%	38.34%	37.02%	50.47%	67.44%
No. of Shareholders	16,035	17,995	16,874	16,317	16,673	16,344	16,085	13,371	23,692

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Vardhman Polytex Ltd

Vardhman Polytex Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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