---
title: "Vardhman Acrylics Ltd (VARDHACRLC) — Share Price, Financials & Analysis"
symbol: "VARDHACRLC"
company: "Vardhman Acrylics Ltd"
canonical: "https://tapetide.com/stocks/VARDHACRLC"
isin: "INE116G01013"
nse_symbol: "VARDHACRLC"
sector: "Consumer Discretionary"
industry: "Textiles & Apparels"
market_cap_cr: 357.54
generated_at: "2026-09-13T19:50:08.313Z"
---

# Vardhman Acrylics Ltd (VARDHACRLC)

Canonical page: https://tapetide.com/stocks/VARDHACRLC

## Company

- **NSE Symbol:** VARDHACRLC
- **ISIN:** INE116G01013
- **Sector:** Consumer Discretionary
- **Industry:** Textiles & Apparels
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2003-09-30
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** vardhmanacrylics.com

## About

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

## Latest Price

- **Price:** ₹44.06
- **Change:** -0.19 (-0.43%)
- **Open:** ₹44.9
- **Day High:** ₹44.9
- **Day Low:** ₹43.55
- **Previous Close:** ₹44.25
- **Volume:** 29672
- **As Of:** 2026-09-11T10:01:40+00:00

## Key Fundamentals

Observed at 2026-09-11T04:42:05.393198Z.

- **Market Cap:** ₹357.54 Cr
- **Classification:** Microcap
- **P/E (reported):** 8.5
- **P/E (TTM):** 8.49
- **EPS (TTM):** ₹5.19
- **Book Value:** ₹31.6
- **Price to Book:** 1.4
- **Dividend Yield:** 3.39%
- **ROE:** 4.95%
- **ROCE:** 6.55%
- **Debt to Equity:** 0
- **Revenue (yearly):** ₹318.57 Cr
- **Net Income:** ₹26.89 Cr
- **EBITDA:** ₹16.68 Cr
- **52-Week High:** ₹48.55
- **52-Week Low:** ₹27.01
- **RSI (14):** 51.51

## Tapetide Score

- **Score:** 60 / 100
- **Score date:** 2026-09-04
- **Archetype:** Quality at a Reasonable Price
- **What it means:** Financial strength is not being paid for with a demanding multiple. The question worth asking is whether the quality is durable or reflects a good patch — check the consistency of returns over several years rather than the latest quarter.
- **Pillar profile:** Quality: Good · Valuation: Cheap · Momentum: Rising
- **Percentile:** 87.9 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 74.59 | 9% |
| growth | 57.92 | 9% |
| momentum | 88.29 | 12% |
| ownership | 50.24 | 24% |
| quality | 66.45 | 22% |
| valuation | 70.27 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### 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.15.5 Cr.
- Working capital days have increased from 81.0 days to 219 days

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 254.34% | -32.13% | -33.73% |
| ebitda margin growth | 50.69% | -22.96% | -42.86% | -31.6% |
| net income growth | 3.85% | 127.88% | -6% | -9% |
| revenue growth | -6.38% | 7.19% | -9% | 3% |
| roce | — | -24.19% | -61.81% | 10.9% |
| roe | — | -31.44% | 8.52% | -54.04% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 86 | 62 | 68 | 57 | 71 | 82 | 72 | 69 | 89 | 76 | 84 | 78 |
| Expenses | 81 | 57 | 64 | 55 | 70 | 81 | 72 | 70 | 89 | 69 | 73 | 61 |
| Operating Profit | 5 | 5 | 5 | 2 | 1 | 1 | 0 | -1 | 0 | 7 | 10 | 18 |
| OPM % | 6 | 8 | 7 | 3.8 | 1.1 | 1 | 0 | -0.9 | 0.2 | 9 | 12 | 23 |
| Other Income | 4 | 3 | 4 | 4 | 3 | 5 | 3 | 4 | 4 | 3 | 4 | 4 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 8 | 6 | 7 | 5 | 3 | 5 | 2 | 2 | 3 | 10 | 14 | 21 |
| Tax % | 21 | 12 | 20 | 20 | 55 | 17 | 18 | 24 | 23 | 23 | -14 | 22 |
| Net Profit | 6 | 6 | 5 | 4 | 2 | 4 | 2 | 2 | 2 | 7 | 16 | 16 |
| EPS in Rs | 0.77 | 0.7 | 0.66 | 0.54 | 0.19 | 0.49 | 0.24 | 0.22 | 0.31 | 0.92 | 1.94 | 2.02 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 327 | 392 | 334 | 280 | 303 | 427 | 297 | 282 | 319 | 327 |
| Expenses | 295 | 364 | 308 | 232 | 294 | 390 | 284 | 278 | 302 | 292 |
| Operating Profit | 31 | 28 | 27 | 48 | 9 | 36 | 13 | 4 | 17 | 35 |
| OPM % | 10 | 7 | 8 | 17 | 2.9 | 8 | 4.5 | 1.3 | 5 | 11 |
| Other Income | 21 | 25 | 27 | 15 | 14 | 13 | 14 | 16 | 15 | 16 |
| Interest | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 5 | 5 | 5 | 5 | 5 | 5 | 6 | 3 | 3 | 3 |
| Profit before tax | 47 | 47 | 48 | 57 | 17 | 43 | 21 | 16 | 29 | 47 |
| Tax % | 17 | 26 | 3 | 25 | 16 | 24 | 18 | 26 | 6 | — |
| Net Profit | 39 | 34 | 46 | 43 | 15 | 33 | 18 | 12 | 27 | 42 |
| EPS in Rs | 4.8 | 4.29 | 5.76 | 5.34 | 1.81 | 4.09 | 2.18 | 1.47 | 3.39 | 5.19 |
| Dividend Payout % | 42 | 58 | 0 | 0 | 1380 | 61 | 92 | 102 | 44 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 80 | 80 | 80 | 80 | 80 | 80 | 80 | 80 | 80 | 80 |
| Reserves | 215 | 239 | 253 | 275 | 318 | 132 | 165 | 163 | 158 | 174 |
| Borrowings | 1 | 1 | 1 | 1 | 0 | 3 | 0 | 1 | 0 | 0 |
| Other Liabilities | 127 | 92 | 119 | 96 | 86 | 87 | 97 | 84 | 110 | 89 |
| Total Liabilities | 423 | 413 | 453 | 453 | 485 | 302 | 342 | 328 | 349 | 343 |
| Fixed Assets | 58 | 55 | 52 | 64 | 59 | 56 | 54 | 56 | 58 | 60 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 0 | 0 | 0 |
| Investments | 248 | 260 | 284 | 160 | 232 | 134 | 172 | 169 | 186 | 183 |
| Other Assets | 117 | 99 | 118 | 229 | 194 | 112 | 112 | 103 | 105 | 99 |
| Total Assets | 423 | 413 | 453 | 453 | 485 | 302 | 342 | 328 | 349 | 343 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 42 | 3 | 26 | 4 | 39 | -9 | 39 | 7 | 26 | 7 |
| Cash from Investing Activity | 30 | 7 | -8 | 80 | -83 | 190 | -37 | 12 | -9 | 8 |
| Cash from Financing Activity | -63 | -15 | -20 | -24 | -1 | -198 | -3 | -20 | -17 | -12 |
| Net Cash Flow | 8 | -5 | -2 | 61 | -44 | -17 | -1 | 0 | 0 | 2 |
| Free Cash Flow | 41 | 2 | 23 | -2 | 39 | -12 | 31 | 4 | 21 | 2 |
| CFO/OP | 114 | 62 | 137 | 48 | 111 | -18 | 135 | 92 | 753 | 69 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 5 | 23 | 15 | 10 | 20 | 13 | 11 | 20 | 11 | 13 |
| Inventory Days | 123 | 85 | 94 | 92 | 139 | 121 | 108 | 141 | 149 | 108 |
| Days Payable | 100 | 66 | 84 | 83 | 89 | 75 | 70 | 81 | 123 | 83 |
| Cash Conversion Cycle | 28 | 41 | 24 | 20 | 69 | 59 | 49 | 80 | 37 | 39 |
| Working Capital Days | -5 | 9 | 4 | -2 | 21 | 29 | 15 | 25 | -1 | 219 |
| ROCE % | 19 | 15 | 14 | 14 | 15 | 6 | 19 | 9 | 7 | 12 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.02% | 0.02% | 0.03% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 20.77% | 20.55% | 20.9% | 20.86% | 19.48% | 19.47% | 19.52% | 19.57% | 19.72% | 19.97% | 20.31% | 20.07% |
| Others | 4.26% | 4.48% | 4.13% | 4.17% | 5.55% | 5.56% | 5.51% | 5.46% | 5.3% | 5.04% | 4.7% | 4.92% |
| No. of Shareholders | 28152 | 28761 | 29292 | 28732 | 28037 | 28061 | 28231 | 28216 | 28026 | 28074 | 27984 | 27904 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 10 / 7 / 2

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 43.55 | Buy |
| EMA (10) | 43.87 | Buy |
| SMA (20) | 43.96 | Buy |
| EMA (20) | 43.96 | Buy |
| SMA (50) | 44.16 | Sell |
| EMA (50) | 43.89 | Buy |
| SMA (100) | 43.49 | Buy |
| EMA (100) | 42.91 | Buy |
| SMA (200) | 39.88 | Buy |
| EMA (200) | 41.96 | Buy |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 50.3 | Neutral |
| MACD (12,26,9) | -0.13 | Buy |
| Stochastic (14,3,3) | 64.52 | Neutral |
| ADX (14) | 17.62 | Neutral |
| Williams %R (14) | -36.67 | Neutral |
| ATR (14) | 1.35 | High Volatility |
| ROC (12) | -1.5 | Sell |
| Stoch RSI (14) | 64.35 | Neutral |
| UO (7,14,28) | 49.5 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-09 | [Updates](https://nsearchives.nseindia.com/corporate/VARDHACRLC_09092026101542_VAL_Demat_Report_sd.pdf) |
| 2026-08-26 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/VARDHACRLC_26082026121729_VAL_AGM_Newspaper_Notice_sd.pdf) |
| 2026-08-26 | [General Updates](https://nsearchives.nseindia.com/corporate/VARDHACRLC_26082026122142_VAL_Shareholders_Letter_Intimation_sd.pdf) |
| 2026-08-25 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/VARDHACRLC_25082026200011_VAL_SE_Intimation_AGM_sd.pdf) |
| 2026-08-25 | [Updates](https://nsearchives.nseindia.com/corporate/VARDHACRLC_25082026201005_VAL_SE_Intimation_BRSR_sd.pdf) |
| 2026-08-21 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/VARDHACRLC_21082026150559_VAL_Newspaper_sd.pdf) |
| 2026-08-20 | [Record Date](https://nsearchives.nseindia.com/corporate/VARDHACRLC_20082026173026_VAL_Record_Date_Intimation_sd.pdf) |
| 2026-08-05 | [Updates](https://nsearchives.nseindia.com/corporate/VARDHACRLC_05082026175355_VAL_Demat_Report_sd.pdf) |
| 2026-07-29 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/VARDHACRLC_29072026113633_VAL_Newspaper_sd.pdf) |
| 2026-07-07 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/VARDHACRLC_07072026123707_VAL_IEPF_sd.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-07-28 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/VARDHACRLC_28072026113751_VAL_QR_30062026_sd.pdf) |
| 2026-05-02 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/VARDHACRLC_02052026114024_VAL_FR_31032026_sd.pdf) |
| 2026-01-20 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/VARDHACRLC_20012026115141_VAL_Final_Results_31122025_sd.pdf) |
| 2025-10-22 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/VARDHACRLC_22102025121144_VAL_FR_30092025_sd.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/AR_30624_VARDHACRLC_2025_2026_A_1960683_25082026200733.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/AR_28167_VARDHACRLC_2024_2025_A_3284280_02092025173823.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/AR_25259_VARDHACRLC_2023_2024_28082024222527.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/AR_23869_VARDHACRLC_2022_2023_08092023192602_09082023200027.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/AR_21740_VARDHACRLC_2021_2022_08092022194814_09082022200012.zip) |
| from nse | [Annual Report 2021 from nse](https://archives.nseindia.com/annual_reports/AR_19407_VARDHACRLC_2020_2021_04092021221624_09042021230003.zip) |
| from nse | [Annual Report 2020 from nse](https://archives.nseindia.com/annual_reports/AR_17313_VARDHACRLC_2019_2020_04092020195521_04092020200007.zip) |
| from nse | [Annual Report 2019 from nse](https://archives.nseindia.com/annual_reports/AR_15891_VARDHACRLC_2018_2019_06092019185958_06092019190020.zip) |
| from nse | [Annual Report 2018 from nse](https://archives.nseindia.com/annual_reports/AR_13677_VARDHACRLC_2017_2018_27092018195523.zip) |
| from nse | [Annual Report 2017 from nse](https://archives.nseindia.com/annual_reports/AR_11543_VARDHACRLC_2016_2017_24092017132955.zip) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:50:08.313Z.