Vardhman Holdings
Vardhman Holdings
Financial ServicesKey Fundamentals
MicrocapInvestment CompanyFinancial ServicesTapetide Score
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Key Insights
Strengths
4- Company is almost debt free.
- Stock is trading at 0.29 times its book value
- Company is expected to give good quarter
- Market value of investments Rs.4,859 Cr. is more than the Market Cap Rs.1,100 Cr.
Weaknesses
4- Tax rate seems low
- Company has a low return on equity of 6.42% over last 3 years.
- Earnings include an other income of Rs.249 Cr.
- Dividend payout has been low at 0.74% of profits over last 3 years
Growth Rate
Quarterly Results
| Particulars | Jun 2023 | 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 | 6 | 30 | 8 | 0 | 7 | 7 | 7 | 2 | 3 | 3 | 6 | 0 | 11 |
| Expenses | 0 | 1 | 0 | 3 | 1 | 3 | 1 | 1 | 0 | 0 | 1 | 1 | 1 |
| Operating Profit | 5 | 30 | 7 | -3 | 5 | 5 | 5 | 1 | 3 | 2 | 5 | -1 | 10 |
| OPM % | 92% | 98% | 95% | -3786% | 81% | 66% | 79% | 55% | 91% | 87% | 91% | -158% | 93% |
| Other Income | 40 | 39 | 47 | 28 | 69 | 57 | 61 | 69 | 60 | 55 | 50 | 54 | 90 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PBT | 45 | 69 | 54 | 26 | 74 | 62 | 66 | 70 | 63 | 57 | 55 | 53 | 100 |
| Tax % | 3% | 10% | 2% | 1% | 2% | 20% | 1% | 1% | 1% | 20% | 2% | 0% | 2% |
| Net Profit | 44 | 62 | 54 | 26 | 73 | 49 | 66 | 70 | 63 | 46 | 54 | 54 | 98 |
| EPS in Rs | 137 | 194 | 168 | 80.15 | 229 | 155 | 206 | 218 | 196 | 145 | 168 | 168 | 307 |
Profit & Loss
| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 13 | 70 | 28 | 9 | 12 | 20 | 33 | 6 | 15 | 23 | 12 | 20 |
| Expenses | 4 | 2 | 3 | 3 | 6 | 2 | 3 | 4 | 4 | 6 | 2 | 2 |
| Operating Profit | 9 | 68 | 25 | 6 | 7 | 18 | 30 | 2 | 11 | 17 | 10 | 17 |
| OPM % | 72% | 97% | 89% | 68% | 53% | 89% | 91% | 26% | 71% | 73% | 84% | 87% |
| Other Income | 151 | 242 | 157 | 196 | 155 | 116 | 429 | 223 | 184 | 256 | 219 | 249 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PBT | 160 | 310 | 181 | 202 | 161 | 133 | 459 | 225 | 194 | 273 | 229 | 266 |
| Tax % | 1% | 2% | 1% | 0% | 1% | 3% | 7% | -2% | 5% | 5% | 6% | — |
| Net Profit | 159 | 303 | 179 | 202 | 160 | 130 | 429 | 228 | 185 | 258 | 216 | 252 |
| EPS in Rs | 497 | 950 | 560 | 632 | 500 | 406 | 1,344 | 716 | 579 | 808 | 677 | 788 |
| Div. Payout % | 1% | 1% | 1% | 1% | 0% | 1% | 0% | 1% | 1% | 1% | 1% | — |
Balance Sheet
| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves | 1,244 | 1,545 | 1,819 | 1,994 | 2,122 | 2,303 | 2,774 | 3,096 | 3,294 | 3,537 | 3,762 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 2 | 5 | 3 | 5 | 4 | 2 | 1 | 1 | 1 | 1 | 4 |
| Total Liabilities | 1,249 | 1,553 | 1,825 | 2,003 | 2,130 | 2,307 | 2,778 | 3,101 | 3,298 | 3,541 | 3,769 |
| Fixed Assets | 1 | 1 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 1,240 | 1,506 | 1,776 | 1,952 | 1,979 | 2,167 | 2,738 | 3,065 | 3,270 | 3,528 | 3,758 |
| Other Assets | 9 | 46 | 46 | 48 | 147 | 137 | 36 | 32 | 25 | 10 | 8 |
| Total Assets | 1,249 | 1,553 | 1,825 | 2,003 | 2,130 | 2,307 | 2,778 | 3,101 | 3,298 | 3,541 | 3,769 |
Cash Flow
| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | — | -34 | 2 | 6 | -95 | 82 | -5 | 1 | -3 | -6 | -6 |
| Investing | — | 36 | 0 | -3 | 99 | -10 | -69 | 2 | 4 | 5 | 7 |
| Financing | — | -1 | -2 | -2 | -2 | 0 | -2 | -2 | -2 | -2 | -2 |
| Net Cash Flow | — | 1 | 0 | 1 | 2 | 72 | -75 | 2 | 0 | -2 | 0 |
| Free Cash Flow | — | -34 | 0 | 6 | -95 | 82 | -5 | 1 | -3 | -6 | -6 |
| CFO/OP | — | 7 | 38 | 98 | -1,359 | 487 | 56 | 263 | 31 | 9 | 39 |
Ratios
| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | 82 | 194 | 41 | 19 | 2,908 | 372 | 98 | 569 | 236 | 92 | 179 |
| ROCE % | — | 22% | 11% | 11% | 8% | 6% | 18% | 8% | 6% | 8% | 6% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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28 extracted metrics + investor summaries across FY16–FY26.
Documents
Frequently Asked Questions about Vardhman Holdings
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Company Information
Incorporated in 1962, Vardhman Holdings Ltd is in the business of lending and investing activities[1]
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