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Vardhman Holdings

VHL NSE
₹3,449.30 −9.80 (−0.28%)
P/E
4.38
View as Markdown
MCP
Close 4 Nov 2026 ₹3,449.30 −225.70 −6.14% 1Y
Start ₹3,675.00

Key Fundamentals

MicrocapFinanceFinancial Services

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

ROCE
6.28%
Debt to Equity
0.00
EPS (TTM)
₹788.13
Book Value
₹11,804.65
Market Cap
—
P/E (TTM)
4.38
P/B
0.29
ROE
5.91%
Dividend Yield
0.14%
EBITDA
₹12.10 Cr
52W High
₹4,050.00
52W Low
₹2,870.00
Day Range
₹3,416.50 – ₹3,506.50
Volume
411

Peer Comparison

Financial Services › Investment Company

Vardhman Holdings peer comparison
Jio Financial
₹222.2784.51₹1,43,288 Cr1.160.28%1.19%1.86%₹5,623 Cr₹1,711 Cr
Aditya Birla Capital
₹379.9525.26₹1,05,060 Cr2.440.00%12.00%—₹48,186 Cr₹4,119 Cr
Tata Investment Corporation
₹564.5066.26₹28,326 Cr0.920.61%1.44%1.57%₹404 Cr₹431 Cr
Cholamandalam Financial Holdings
₹1,374.809.67₹26,343 Cr1.670.09%17.50%—₹40,890 Cr₹6,015 Cr
TVS Holdings
₹12,237.0012.55₹24,865 Cr3.700.69%30.60%17.00%₹62,488 Cr₹3,888 Cr
Maharashtra Scooters
₹11,775.0048.32₹13,738 Cr0.421.32%1.06%1.06%₹289 Cr₹279 Cr
JSW Holdings
₹10,942.0088.41₹12,133 Cr0.340.00%0.46%0.59%₹184 Cr₹138 Cr
Vardhman Holdings (this company)
₹3,449.304.38₹1,102 Cr0.290.14%5.91%6.28%₹20 Cr₹252 Cr
Median 8 companies₹2,412.0536.79₹25,604 Cr1.040.21%3.68%1.72%₹3,014 Cr₹1,071 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

58 Good

Data confidence 100/100

Category scores

Quality
49
Average
Returns, margins, earnings quality 22% weight
Valuation
78
Strong
Cheap vs sector & own history 24% weight
Growth
39
Weak
Sales & profit trajectory 9% weight
Financial Health
86
Strong
Solvency, leverage, coverage 9% weight
Momentum
49
Average
Trend strength, vol-adjusted 12% weight
Ownership
42
Weak
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 is almost debt free.
  • Stock is trading at 0.31 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.1,154 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

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1072
OscillatorsBearish270
Moving AveragesStrong Bearish802

Key readings

RSI (14)
45.87
Neutral
MACD (12,26,9)
−18.50
Bearish
SMA (50)
3,492.95
Bearish
SMA (200)
3,416.30
Bullish

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−0.80%
5Y−9.71%
3Y+25.99%
1Y−47.83%
TTM+5.26%

Net profit

Net profit growth by window
10Y+3.11%
5Y+10.69%
3Y−1.79%
1Y−16.28%
TTM+1.61%

Operating cash flow

Operating cash flow growth by window
10Y—
5YTurned negative
3YTurned negative
1YOutflow unchanged
TTM—

10Y: The statements do not go back far enough for this window.

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

Operating margin· change in pp

Operating margin growth by window
10Y+14.10 pp
5Y−6.67 pp
3Y+50.00 pp
1Y+9.42 pp
TTM+6.32 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹70.00 Cr
Mar 2018₹28.00 Cr
Mar 2019₹9.00 Cr
Mar 2020₹12.00 Cr
Mar 2021₹20.00 Cr
Mar 2022₹33.00 Cr
Mar 2023₹6.00 Cr
Mar 2024₹15.00 Cr
Mar 2025₹23.00 Cr
Mar 2026₹12.00 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹303 Cr
Mar 2018₹179 Cr
Mar 2019₹202 Cr
Mar 2020₹160 Cr
Mar 2021₹130 Cr
Mar 2022₹429 Cr
Mar 2023₹228 Cr
Mar 2024₹185 Cr
Mar 2025₹258 Cr
Mar 2026₹216 Cr

Quarterly Results

₹ Cr
VHL quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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%
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
81%
66%
79%
55%
91%
87%
91%
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
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 (₹)
137
194
168
80.15
229
155
206
218
196
145
168
168
307

Profit & Loss

₹ Cr
VHL profit and loss, annual, ₹ crore
Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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 (₹)
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

₹ Cr
VHL balance sheet, annual, ₹ crore
Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

₹ Cr
VHL cash flow, annual, ₹ crore
Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

VHL financial ratios, annual
Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

Beta

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

Log in to view Vardhman Holdings insights

56 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 74.90%
  • Public 19.78%
  • Others 5.21%
  • DIIs 0.06%
  • FIIs 0.05%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

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

Frequently Asked Questions about Vardhman Holdings

What does Vardhman Holdings Ltd do?
Incorporated in 1962, Vardhman Holdings Ltd is in the business of lending and investing activities
Where is Vardhman Holdings Ltd (VHL) listed?
Vardhman Holdings Ltd trades as VHL on the NSE and under code 500439 on the BSE.
Which sector does Vardhman Holdings Ltd belong to?
Vardhman Holdings Ltd is classified under the Financial Services sector, in the Investment Company industry.
What is the PE ratio of Vardhman Holdings Ltd?
Vardhman Holdings Ltd trades at a PE ratio of 4.38 as of 4 Nov 2026, on earnings per share of ₹788.13, against a book value of ₹11,804.65 per share.
What is the 52-week high and low of Vardhman Holdings Ltd?
Over the last 52 weeks Vardhman Holdings Ltd has traded between ₹2,870 and ₹4,050 as of 4 Nov 2026.
Does Vardhman Holdings Ltd pay dividends?
Vardhman Holdings Ltd has a dividend yield of 0.14%.
What is the Return on Equity (ROE) of Vardhman Holdings Ltd?
Vardhman Holdings Ltd reported a return on equity of 5.91%. Its debt-to-equity ratio is 0.00.

Company Information

Incorporated in 1962, Vardhman Holdings Ltd is in the business of lending and investing activities

Website vardhman.in
CEO Mr. Shri Paul Oswal M.Com.
Employees 3
Listed 30 Jun 2005
Face Value ₹10

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