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Varvee Global

VGL NSE
₹52.71 −1.92 (−3.51%)
P/E
Not meaningful: loss-making over the last twelve months
View as Markdown
MCP
Close 4 Nov 2026 ₹52.71 −18.86 −26.4% 1Y
Start ₹71.57

Key Fundamentals

MicrocapTextilesConsumer Discretionary

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
17.30%
Debt to Equity
0.04
EPS (TTM)
−₹3.80
Book Value
₹14.95
Market Cap
—
P/E (TTM)
Not meaningful: loss-making over the last twelve months
P/B
3.53
ROE
18.10%
Dividend Yield
0.00%
EBITDA
₹35.80 Cr
52W High
₹84.75
52W Low
₹43.70
Day Range
₹52.01 – ₹55.88
Volume
21,385

Peer Comparison

Consumer Discretionary › Textiles › Cotton/Blended › Other Textile Products

Varvee Global peer comparison
KPR Mill
₹1,174.8044.02₹39,972 Cr6.460.43%15.70%19.60%₹6,820 Cr₹913 Cr
Welspun Living
₹264.5790.61₹25,018 Cr4.930.04%4.48%6.26%₹9,934 Cr₹287 Cr
Vardhman Textiles
₹529.8518.08₹14,989 Cr1.460.98%6.86%8.55%₹10,186 Cr₹860 Cr
Trident
₹23.8930.63₹12,083 Cr2.912.10%7.91%9.79%₹6,781 Cr₹395 Cr
Indo Count Industries
₹525.3569.03₹9,390 Cr4.420.32%5.52%8.19%₹4,390 Cr₹150 Cr
Garware Technical Fibres
₹753.6035.40₹7,222 Cr5.231.22%16.10%22.00%₹1,644 Cr₹210 Cr
Kusumgar
₹584.9545.34₹5,974 Cr12.250.00%18.60%18.80%₹701 Cr₹131 Cr
Varvee Global (this company)
₹52.71—₹281 Cr3.530.00%18.10%17.30%₹72 Cr−₹20 Cr
Median 8 companies₹527.6044.02₹10,736 Cr4.680.38%11.81%13.55%₹5,586 Cr₹249 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

47 Average

Data confidence 93/100

surveillance:ASM1

Category scores

Quality
39
Weak
Returns, margins, earnings quality 22% weight
Valuation
50
Average
Cheap vs sector & own history 24% weight
Growth
99
Strong
Sales & profit trajectory 9% weight
Financial Health
54
Average
Solvency, leverage, coverage 9% weight
Momentum
37
Poor
Trend strength, vol-adjusted 12% weight
Ownership
53
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

4
  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Debtor days have improved from 196 to 92.7 days.

Weaknesses

5
  • Stock is trading at 4.08 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of -25.0% over past five years.
  • Company has a low return on equity of -128% over last 3 years.
  • Earnings include an other income of Rs.13.6 Cr.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1261
OscillatorsBearish261
Moving AveragesStrong Bearish1000

Key readings

RSI (14)
38.37
Neutral
MACD (12,26,9)
−2.35
Bearish
SMA (50)
59.83
Bearish
SMA (200)
62.33
Bearish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y−22.83%
5Y−24.97%
3Y−37.74%
1Y+50.00%
TTM+152.41%

Net profit

Net profit growth by window
10Y+5.54%
5YTurned to profit
3YTurned to profit
1Y−36.84%
TTMTurned to loss

Operating cash flow

Operating cash flow growth by window
10Y−23.72%
5Y−35.56%
3Y−50.00%
1Y−81.48%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−1.22 pp
5Y+15.49 pp
3Y+18.67 pp
1Y+198.42 pp
TTM+281.81 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹844 Cr
Mar 2018₹827 Cr
Mar 2019₹752 Cr
Mar 2020₹565 Cr
Mar 2021₹265 Cr
Mar 2022₹421 Cr
Mar 2023₹261 Cr
Mar 2024₹85.00 Cr
Mar 2025₹42.00 Cr
Mar 2026₹63.00 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹2.00 Cr
Mar 2018₹6.00 Cr
Mar 2019₹1.00 Cr
Mar 2020−₹42.00 Cr
Mar 2021−₹64.00 Cr
Mar 2022−₹41.00 Cr
Mar 2023−₹65.00 Cr
Mar 2024−₹45.00 Cr
Mar 2025₹19.00 Cr
Mar 2026₹12.00 Cr

Quarterly Results

₹ Cr
VGL quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
10.37
24.81
25.55
24
13.53
15.48
5.94
7.5
−0.55
27.83
12.14
23.38
8.26
19.61
Expenses
20.9
30.97
34.72
29.26
24.46
20.16
28.55
59.2
0.56
13.98
13.62
29.27
15.12
16.76
Operating Profit
−10.53
−6.16
−9.17
−5.26
−10.93
−4.68
−22.61
−51.7
−1.11
13.85
−1.48
−5.89
−6.86
—
OPM %
−101.54%
−24.83%
−35.89%
−21.92%
−80.78%
−30.23%
−380.64%
−689.33%
—
49.77%
−12.19%
−25.19%
−83.05%
—
Other Income
0.17
2.39
3.37
0.58
45.1
34.25
22.63
37.94
6.82
6.49
21.64
−15.18
0.63
8.07
Interest
10.46
11.74
7.69
6.76
5.33
3.81
2.49
1.21
1.43
0
0
0
0.01
0.05
Depreciation
6.2
2.75
1.63
1.12
1.11
1.12
0.97
1.15
1
1.53
1.22
1.57
0.63
0.56
PBT
−27.02
−18.26
−15.12
−12.56
27.73
24.64
−3.44
−16.12
3.28
18.81
18.94
−22.64
−6.87
10.3
Tax %
−31.2%
−28.97%
−56.35%
−48.57%
18.54%
66.48%
102.03%
−44.98%
−676.52%
45.67%
71.81%
26.28%
−4.51%
34.17%
Net Profit
−18.59
−12.97
−6.6
−6.46
22.58
8.27
−6.94
−8.87
25.48
10.21
5.35
−28.59
−6.56
6.79
EPS (₹)
−3.96
−2.77
−1.41
−1.38
4.81
1.76
−1.48
−1.89
4.95
1.98
1.04
−5.55
−1.27
—

Sep 2026: from the results filed on 22 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
VGL profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
746
841
844
827
752
565
265
421
261
85
42
63
72
Expenses
679
764
772
747
669
529
285
431
289
113
122
57
72
Operating Profit
66
77
72
80
82
36
−20
−10
−28
−29
−80
5
0
OPM %
9%
9%
9%
10%
11%
6%
−7%
−2.5%
−11%
−34%
−189%
9%
−0.5%
Other Income
3
−1
2
3
3
0
12
25
7
4
130
20
14
Interest
35
37
38
43
49
53
51
43
46
37
13
1
0
Depreciation
31
31
33
33
34
38
28
25
25
12
4
5
5
PBT
3
8
3
6
2
−56
−87
−54
−92
−73
33
18
8
Tax %
95%
17%
35%
12%
37%
−24%
−27%
−24%
−30%
−39%
43%
32%
—
Net Profit
0
7
2
6
1
−42
−64
−41
−65
−45
19
12
−20
EPS (₹)
0.04
1.5
0.38
1.2
0.23
−8.94
−13.69
−8.83
−13.87
−9.51
3.95
2.42
−3.8
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
VGL balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
23
23
23
23
23
23
23
23
23
23
23
26
Reserves
232
240
243
248
250
208
144
103
38
−6
12
51
Borrowings
370
382
355
379
434
419
433
413
397
278
94
3
Other Liabilities
145
178
210
268
241
193
110
89
70
144
74
104
Total Liabilities
771
825
831
919
949
843
711
629
528
438
204
184
Fixed Assets
372
367
375
363
389
350
274
231
202
72
68
43
CWIP
2
1
5
0
0
0
0
1
1
0
0
1
Investments
0
0
0
0
0
0
0
0
0
0
0
10
Other Assets
397
457
451
556
560
492
437
397
324
366
136
129
Total Assets
771
825
831
919
949
843
711
629
528
438
204
184

Cash Flow

₹ Cr
VGL cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
47
75
110
38
51
65
45
13
40
110
27
5
Investing
−11
−38
−50
−19
−53
5
9
47
13
46
182
28
Financing
−36
−33
−63
−19
3
−70
−42
−63
−62
−156
−196
−43
Net Cash Flow
0
4
−3
0
0
−1
12
−4
−10
0
13
−10
Free Cash Flow
39
35
66
22
−10
63
50
59
53
151
209
45
CFO/OP
71
100
154
48
63
181
−223
−125
−141
−385
−34
110

Ratios

VGL financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
85
92
104
130
140
152
287
144
174
430
64
93
Inventory Days
132
127
114
146
189
234
283
204
230
405
34
296
Days Payable
74
90
109
151
167
167
160
100
109
235
75
457
Cash Conversion Cycle
143
129
109
125
161
219
410
247
295
600
23
−69
Working Capital Days
−18
−22
−25
1
16
20
8
−6
−65
−369
−593
−272
ROCE %
6%
8%
6%
8%
8%
0%
−7%
−6%
−11%
−10%
−37%
17%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Varvee Global insights

58 extracted metrics across FY15–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 65.63%
  • Public 24.16%
  • Others 8.22%
  • DIIs 1.30%
  • FIIs 0.69%

15.65% of promoter holding pledged as of Sep 2026

Change since Jun 2026

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

  • Concall · May 2026
    PPT
  • Q3 FY26 concall · Feb 2026
    PPT
  • Q2 FY26 concall · Dec 2025
    Transcript PPT
  • Concall · Nov 2025
    PPT

Frequently Asked Questions about Varvee Global

What does Varvee Global Ltd do?
Varvee Global Ltd (formerly Aarvee Denims & Exports Ltd) is an Ahmedabad-based textile company operating from the Narol facility. After a 2024–25 control change, it is pivoting from denim manufacturing to non-denim shirting/suiting, B2B job work, trading and leasing; it incorporated a…
Where is Varvee Global Ltd (VGL) listed?
Varvee Global Ltd trades as VGL on the NSE and under code 514274 on the BSE.
Which sector does Varvee Global Ltd belong to?
Varvee Global Ltd is classified under the Textiles sector, in the Cotton/Blended industry.
What is the 52-week high and low of Varvee Global Ltd?
Over the last 52 weeks Varvee Global Ltd has traded between ₹43.7 and ₹84.75 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Varvee Global Ltd?
Varvee Global Ltd reported a return on equity of 18.10%. Its debt-to-equity ratio is 0.04.

Company Information

Varvee Global Ltd (formerly Aarvee Denims & Exports Ltd) is an Ahmedabad-based textile company operating from the Narol facility. After a 2024–25 control change, it is pivoting from denim manufacturing to non-denim shirting/suiting, B2B job work, trading and leasing; it incorporated a renewable-energy subsidiary in July 2026.

Website aarvee-denims.com
Listed 21 Nov 2006
Face Value ₹5

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