---
title: "Vardhman Polytex Ltd (VARDMNPOLY) — Share Price, Financials & Analysis"
symbol: "VARDMNPOLY"
company: "Vardhman Polytex Ltd"
canonical: "https://tapetide.com/stocks/VARDMNPOLY"
isin: "INE835A01029"
nse_symbol: "VARDMNPOLY"
bse_code: "514175"
sector: "Consumer Discretionary"
industry: "Textiles & Apparels"
market_cap_cr: 287.88
generated_at: "2026-09-13T19:49:57.421Z"
---

# Vardhman Polytex Ltd (VARDMNPOLY)

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

## Company

- **NSE Symbol:** VARDMNPOLY
- **BSE Code:** 514175
- **ISIN:** INE835A01029
- **Sector:** Consumer Discretionary
- **Industry:** Textiles & Apparels
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2003-05-12
- **CEO:** Mr. Adish Oswal B.Com.
- **Employees:** 639
- **Face Value:** ₹1
- **F&O Eligible:** No
- **Website:** oswalgroup.com

## About

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

## Latest Price

- **Price:** ₹5.94
- **Change:** 0 (0%)
- **Open:** ₹6
- **Day High:** ₹6
- **Day Low:** ₹5.88
- **Previous Close:** ₹5.94
- **Volume:** 66395
- **As Of:** 2026-09-11T10:01:38+00:00

## Key Fundamentals

Observed at 2026-09-11T04:44:41.658534Z.

- **Market Cap:** ₹287.88 Cr
- **Classification:** Microcap
- **P/E (reported):** 0.9
- **P/E (TTM):** 0.9
- **EPS (TTM):** ₹6.6
- **Book Value:** ₹-3.72
- **Price to Book:** -1.62
- **Dividend Yield:** 0%
- **ROE:** 4.27%
- **ROCE:** -13.49%
- **Debt to Equity:** 0
- **Revenue (yearly):** ₹931.9 Cr
- **Net Income:** ₹-15.5 Cr
- **EBITDA:** ₹62.4 Cr
- **52-Week High:** ₹9.49
- **52-Week Low:** ₹5.1
- **RSI (14):** 41.31

## Tapetide Score

- **Score:** 36 / 100
- **Score date:** 2026-09-04
- **Archetype:** Cheap but Weak
- **What it means:** A low multiple sitting on weak financials. Worth establishing what the market is discounting before treating the low valuation as an opportunity — weak fundamentals often justify it.
- **Pillar profile:** Quality: Weak · Valuation: Cheap · Momentum: Falling
- **Percentile:** 7.3 (of 4473 scored stocks)
- **Confidence:** 91%
- **Data coverage:** 81%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 17.85 | 9% |
| growth | 25.64 | 9% |
| momentum | 27.82 | 12% |
| ownership | 50 | 24% |
| quality | 29.76 | 22% |
| valuation | 66.24 | 24% |

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

## Key Insights

### Weaknesses

- The company has delivered a poor sales growth of -14.1% over past five years.
- Promoter holding is low: 37.5%
- Promoters have pledged 74.0% of their holding.
- Earnings include an other income of Rs.323 Cr.
- Promoter holding has decreased over last 3 years: -22.7%

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 155.26% | 356.06% | 20.61% |
| ebitda margin growth | 7.81% | 101.51% | — | -175.51% |
| net income growth | -4.62% | -72.66% | 26% | 15% |
| revenue growth | 13.85% | 82.33% | -27% | -14% |
| roce | 13.14% | — | -76.03% | -101.28% |
| roe | 4.8% | -73.76% | -4.82% | -94.44% |

## 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 | 101 | 61 | 74 | 64 | 64 | 75 | 81 | 60 | 62 | 51 | 65 | 61 |
| Expenses | 121 | 78 | 75 | 73 | 68 | 49 | 83 | 58 | 51 | 50 | 63 | 62 |
| Operating Profit | -20 | -18 | -1 | -9 | -4 | 27 | -2 | 2 | 11 | 0 | 2 | -1 |
| OPM % | -20 | -29 | -1.3 | -14 | -6 | 35 | -2.4 | 2.8 | 17 | 0.2 | 2.6 | -2.1 |
| Other Income | 2 | 3 | 5 | 5 | 9 | 3 | 9 | 4 | 2 | 2 | 1 | 318 |
| Interest | 13 | -23 | 0 | 4 | 3 | 4 | 3 | 4 | 4 | 0 | 1 | 4 |
| Depreciation | 3 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | -34 | 5 | 1 | -11 | 1 | 24 | 1 | 0 | 6 | 0 | 1 | 311 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -34 | 5 | 1 | -11 | 1 | 24 | 1 | 0 | 6 | 0 | 1 | 311 |
| EPS in Rs | -1.07 | 0.15 | 0.03 | -0.3 | 0.02 | 0.55 | 0.02 | 0 | 0.14 | 0 | 0.02 | 6.44 |

### 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 | 618 | 808 | 560 | 507 | 928 | 615 | 376 | 285 | 237 | 238 |
| Expenses | 659 | 807 | 560 | 493 | 868 | 651 | 418 | 273 | 222 | 227 |
| Operating Profit | -41 | 1 | 0 | 14 | 59 | -36 | -42 | 12 | 14 | 11 |
| OPM % | -7 | 0.1 | -0.1 | 2.8 | 6 | -6 | -11 | 4.2 | 6 | 4.7 |
| Other Income | -295 | 3 | 177 | 3 | 3 | 103 | 29 | 26 | 9 | 323 |
| Interest | 68 | 60 | 60 | 59 | 64 | 53 | 3 | 14 | 9 | 9 |
| Depreciation | 21 | 18 | 16 | 15 | 14 | 12 | 10 | 9 | 7 | 7 |
| Profit before tax | -424 | -74 | 102 | -57 | -16 | 2 | -27 | 15 | 8 | 319 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Net Profit | -424 | -74 | 102 | -57 | -16 | 1 | -27 | 15 | 8 | 319 |
| EPS in Rs | -14.57 | -2.55 | 3.5 | -1.95 | -0.53 | 0.05 | -0.75 | 0.33 | 0.16 | 6.6 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### 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 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 27 | 46 | 48 |
| Reserves | 85 | -339 | -414 | -313 | -370 | -386 | -385 | -388 | -273 | -245 |
| Borrowings | 396 | 448 | 446 | 490 | 523 | 529 | 447 | 76 | 50 | 55 |
| Other Liabilities | 122 | 264 | 269 | 113 | 130 | 161 | 206 | 560 | 454 | 425 |
| Total Liabilities | 626 | 395 | 324 | 313 | 306 | 326 | 291 | 276 | 276 | 283 |
| Fixed Assets | 244 | 229 | 211 | 195 | 182 | 170 | 159 | 130 | 114 | 95 |
| CWIP | 5 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 0 |
| Investments | 92 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 285 | 163 | 112 | 117 | 123 | 156 | 133 | 146 | 160 | 188 |
| Total Assets | 626 | 395 | 324 | 313 | 306 | 326 | 291 | 276 | 276 | 283 |

### 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 | 76 | 49 | 63 | 13 | 24 | 61 | 40 | -14 | -98 | -30 |
| Cash from Investing Activity | -20 | -5 | -1 | 0 | -1 | -1 | -1 | 26 | 31 | 20 |
| Cash from Financing Activity | -55 | -50 | -64 | -14 | -23 | -61 | -39 | -12 | 67 | 10 |
| Net Cash Flow | 1 | -5 | -1 | 0 | 0 | 0 | 0 | 1 | -1 | 0 |
| Free Cash Flow | 51 | 43 | 62 | 13 | 22 | 61 | 39 | 12 | -75 | -28 |
| CFO/OP | 114 | -122 | 7369 | -3834 | 167 | 104 | -111 | 33 | -824 | -213 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 33 | 16 | 4 | 4 | 6 | 4 | 0 | 0 | 5 | 5 |
| Inventory Days | 47 | 32 | 12 | 18 | 19 | 23 | 11 | 19 | 77 | 163 |
| Days Payable | 42 | 31 | 26 | 53 | 74 | 54 | 99 | 209 | 171 | 156 |
| Cash Conversion Cycle | 38 | 18 | -10 | -31 | -49 | -26 | -88 | -190 | -88 | 12 |
| Working Capital Days | -68 | -284 | -295 | -358 | -430 | -233 | -346 | -167 | -88 | -52 |
| ROCE % | 12 | -18 | -16 | -10 | 1 | 28 | -34 | — | — | — |

## 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 | 55.2% | 49.14% | 49.14% | 49.14% | 49.14% | 30.76% | 34.22% | 34.22% | 34.22% | 34.22% | 37.5% | 37.5% |
| FIIs | 1.4% | 0% | 0.38% | 0.24% | 0.32% | 0.64% | 0.54% | 0.21% | 0.33% | 0.46% | 5.63% | 5.63% |
| DIIs | 0.01% | 0.01% | 0.01% | 0.01% | 0.04% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 36.08% | 43.55% | 43.89% | 43.39% | 43.09% | 60.15% | 57.53% | 58.5% | 58.46% | 58.23% | 48.68% | 48.69% |
| Others | 7.31% | 7.3% | 6.59% | 7.23% | 7.42% | 8.45% | 7.71% | 7.07% | 6.99% | 7.08% | 8.19% | 8.18% |
| No. of Shareholders | 13961 | 13529 | 13371 | 19674 | 23056 | 25994 | 26725 | 30510 | 32771 | 33681 | 34048 | 34136 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 6 / 11

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 5.93 | Buy |
| EMA (10) | 5.95 | Sell |
| SMA (20) | 6.01 | Sell |
| EMA (20) | 6.01 | Sell |
| SMA (50) | 6.19 | Sell |
| EMA (50) | 6.21 | Sell |
| SMA (100) | 6.52 | Sell |
| EMA (100) | 6.47 | Sell |
| SMA (200) | 6.69 | Sell |
| EMA (200) | 7.08 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 41.31 | Neutral |
| MACD (12,26,9) | -0.09 | Buy |
| Stochastic (14,3,3) | 33.41 | Neutral |
| ADX (14) | 22.87 | Neutral |
| Williams %R (14) | -63.16 | Neutral |
| ATR (14) | 0.24 | High Volatility |
| ROC (12) | -1.49 | Sell |
| Stoch RSI (14) | 90.66 | Sell |
| UO (7,14,28) | 34.02 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-10 | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=152D5DBA_3B03_41BC_BB84_FFCC5501DE71_155807.pdf) |
| 2026-09-09 | [Board Meeting Outcome for Allotment Of 10625000 Equity Shares Upon Conversion Of Warrants](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a284d457-7f45-4f1d-8145-f9bd9bc1fb0d.pdf) |
| 2026-09-09 | [Announcement under Regulation 30 (LODR)-Allotment](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e1213658-cca5-4db2-9f7a-b68f8d49f2c9.pdf) |
| 2026-09-09 | [Announcement under Regulation 30 (LODR)-Issue of Securities](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b3a31b86-081b-4e27-9bc7-7cf0e4c3389f.pdf) |
| 2026-09-03 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=fafea4f9-3dda-49de-806e-a601e739b532.pdf) |
| 2026-08-31 | [Notice Of 46Th Annual General Meeting And Annual Report 2025-26](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=98086540-b328-44bb-a71c-f1dcef3cef0c.pdf) |
| 2026-08-31 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=13784a47-749d-4f5d-ae52-c370bf3c38eb.pdf) |
| 2026-08-21 | [Disclosure Under Regulation 30- Material Development In Litigation Proceedings](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e0452e20-97fa-4067-8328-2ea74ff7630b.pdf) |
| 2026-08-12 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=65efee29-cf45-4552-b816-3d112447e8f9.pdf) |
| 2026-08-11 | [Announcement under Regulation 30 (LODR)-Press Release / Media Release](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cf18d0f3-f728-417f-9ee0-af5fc85b1fe9.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-10 | [Results- Quarter Ended 30 June 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c6921938-f0c4-4dce-a508-194fd61faf8f.pdf) |
| 2026-05-29 | [Audited Financial Results 31.03.2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=24dc2012-5b0a-4be8-a23e-decc5010e27f.pdf) |
| 2026-02-14 | [Financial Results- Dec 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=63a793d0-600a-4460-a1f2-bdfb80b31249.pdf) |
| 2025-11-14 | [Financial Results For The Quarter/ Half Year Ended 30.09.2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=aa022b38-ed8c-4692-816d-089aac040947.pdf) |
| 2025-08-13 | [Financial Results For Quarter Ended 30Th June 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5c1734f7-fd10-4be9-b8a8-5052914f3c15.pdf) |
| 2025-05-30 | [Results- Audited Financial Results For The Period Ended 31.03.2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4c2beb3d-cd15-4a3f-889e-44d81c8b1779.pdf) |
| 2025-02-14 | [Financial Results For The Quarter Ended 31.12.2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=94feeae5-f5e4-4bd1-9bab-f00c2e5078aa.pdf) |
| 2024-11-14 | [Financial Results For The Quarter Ended 30.09.2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5a7d953c-dfb1-4ae5-b3b9-5dd80199c7be.pdf) |
| 2024-08-14 | [Financial Results For The Quarter Ended 30.06.2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ea7e792c-4c15-471b-aca4-330fc2406b3e.pdf) |
| 2024-05-27 | [Audited Financial Results For The Quarter/ Year Ended 31.03.2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5221c748-bcd9-489a-8974-dec4e4053ee0.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 9h - Board approved up to Rs35Cr NCDs, Rs25Cr OCDs; EGM Apr16; proposed Ludhiana land sale; Postal Ballot. | [Announcement under Regulation 30 (LODR)-Issue of Securities 9h - Board approved up to Rs35Cr NCDs, Rs25Cr OCDs; EGM Apr16; proposed Ludhiana land sale; Postal Ballot.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/6c59e3a8-de25-4307-9545-6dea064c4b1e.pdf) |
| 9h - Allotment of 7,500,000 shares at Rs12.55 each on 25-Mar-2026; Rs7,05,93,750 received. | [Board Meeting Outcome for Allotment Of 75,00,000 Shares Upon Conversion Of Warrants Issued On Preferential Basis. 9h - Allotment of 7,500,000 shares at Rs12.55 each on 25-Mar-2026; Rs7,05,93,750 received.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/0ab262ae-b6f0-47e0-8e48-1d7d7bf601c0.pdf) |
| 9h - Allotment of 7,500,000 shares at Rs.12.55 on conversion; Rs.7,05,93,750 received; paid-up capital Rs.47,98,94,004. | [Announcement under Regulation 30 (LODR)-Allotment 9h - Allotment of 7,500,000 shares at Rs.12.55 on conversion; Rs.7,05,93,750 received; paid-up capital Rs.47,98,94,004.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/f9e482c7-50c4-4316-bba5-97c851f11cac.pdf) |
| 9h - Allotment of 6,500,000 shares at Rs12.55; Rs6,11,81,250 received; paid-up capital Rs46,53,94,004. | [Board Meeting Outcome for Allotment Of 65,00,000 Shares Upon Conversion Of Warrants Issued On Preferential Basis. 9h - Allotment of 6,500,000 shares at Rs12.55; Rs6,11,81,250 received; paid-up capital Rs46,53,94,004.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/2bb846f0-baf8-48e9-90b5-9e935d61fb76.pdf) |
| 9h - Allotment of 6,500,000 equity shares on conversion; Rs.6.11 crore received; board approved 23 Mar 2026. | [Announcement under Regulation 30 (LODR)-Allotment 9h - Allotment of 6,500,000 equity shares on conversion; Rs.6.11 crore received; board approved 23 Mar 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/c37ef8c5-4b24-42a1-952d-01ad2615ed96.pdf) |
| 8h - Board approved up to Rs35 crore NCDs, Rs25 crore OCDs; EGM April 16; in-principle Ludhiana land sale. | [Announcement under Regulation 30 (LODR)-Preferential Issue 8h - Board approved up to Rs35 crore NCDs, Rs25 crore OCDs; EGM April 16; in-principle Ludhiana land sale.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/583a8153-4e99-493d-8e69-be3c8c2e041b.pdf) |
| 8h - Board approved NCDs up to Rs35cr, OCDs up to Rs25cr; EGM Apr 16; proposed Ludhiana land sale. | [Calling Of EGM 8h - Board approved NCDs up to Rs35cr, OCDs up to Rs25cr; EGM Apr 16; proposed Ludhiana land sale.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/b9cd67ee-6eee-47b8-aad7-28efc85b8a09.pdf) |
| 8h - Board approved NCDs up to Rs35 crore, OCDs up to Rs25 crore; EGM Apr 16, 2026; proposed Ludhiana land sale. | [Postal Ballot 8h - Board approved NCDs up to Rs35 crore, OCDs up to Rs25 crore; EGM Apr 16, 2026; proposed Ludhiana land sale.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/23741131-eb2f-4406-b87c-b806e318e0a4.pdf) |
| 8h - Board approved NCDs Rs35cr, OCDs Rs25cr; EGM Apr 16, 2026; proposed Ludhiana land sale to monetize assets | [Announcement under Regulation 30 (LODR)-Raising of Funds 8h - Board approved NCDs Rs35cr, OCDs Rs25cr; EGM Apr 16, 2026; proposed Ludhiana land sale to monetize assets](https://www.bseindia.com/xml-data/corpfiling/AttachLive/c9367e20-2b7b-45a8-b41d-599e7a957b72.pdf) |
| 8h - Allotment of 70,00,000 shares at Rs.12.55 on 24-Mar-2026; Rs6.58 crore received. | [Announcement under Regulation 30 (LODR)-Allotment 8h - Allotment of 70,00,000 shares at Rs.12.55 on 24-Mar-2026; Rs6.58 crore received.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/355d2877-6385-4a75-a4a9-b67fd12129c3.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2013 from nse](https://archives.nseindia.com/annual_reports/AR_1546_VARDMNPOLY_2012_2013_10092013145432.zip) |
| from nse | [Annual Report 2012 from nse](https://archives.nseindia.com/annual_reports/AR_VARDMNPOLY_2011_2012_17092012110623.zip) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ca8a286f-d13e-4e8e-9e0c-1d355e2a8983.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/53395d0e-c88f-48d9-85be-ad5354d33714.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ae1984a4-3711-47d4-8f6c-c2393248bb25.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/514175/75496514175.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/514175/70678514175.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/514175/65807514175.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/514175/5141750319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/514175/5141750318.pdf) |

---

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 2026-09-13T19:49:57.421Z.