Vardhman Textiles share price
NSE: VTLBSE: 502986Textiles & ApparelsSmall Cap
Vardhman Textiles Limited · Formerly Mahavir Spinning Mills · Face value ₹2 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Jan 2003
Last close ₹497.15down ₹8.55 (1.69%)BSE ₹497.10
Share price at the NSE close on 29 Oct 2026. Previous close ₹505.70.
29 Oct: open ₹505.45, high ₹507.10, low ₹491.10
52-week range of traded prices to 29 Oct 2026
₹391.00Low, 21 Jan 2026₹688.00High, 6 Jul 2026
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹14,396 Cr409th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 16.98
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 1.37
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 1.01%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 8.3%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 7.3%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.18
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 1,20,72050.4% delivered
About Vardhman Textiles
Vardhman Textiles makes cotton and synthetic yarn, woven fabric and garments, and is headquartered in Ludhiana, Punjab.12 It sells yarn and fabric to apparel brands, retailers and textile makers in India and abroad, and makes shirts for apparel brands.345 It sells no garments under a brand of its own: its shirts carry its customers' brands.6
Its yarns range from cotton, polyester, acrylic and blends to organic cotton, melange and core-spun yarns, its fabrics serve shirting and trousering, and its ReNova unit recycles textile waste into fibre.78 The group reports its results in textiles and fibre segments.9 Its subsidiary Vardhman Acrylics, of which the company holds 70.74%, makes acrylic fibre.10
Vardhman Textiles was incorporated on 8 October 1973; the business began in 1965 with 6,000 spindles.1112 It entered weaving in 1992, acrylic fibre in 1999 and men's formal shirts in 2011.13 It was established by Lala Rattan Chand Oswal and belongs to the Vardhman Group; S.P. Oswal is its Chairman and Managing Director.1415 It also holds 20.08% of Vardhman Special Steels and 11% of Vardhman Yarns and Threads, a joint venture with American & Efird.16
Vardhman Textiles key points
Results
- In the year to Mar 2026, consolidated revenue from operations was ₹9,869 crore, and consolidated profit before depreciation, interest and tax was ₹1,512.15 crore, against ₹1,646.44 crore a year earlier.1718
- Consolidated net profit after other comprehensive income (gains and losses booked straight to equity), as the company presents it, was ₹757.47 crore in the year to Mar 2026, against ₹887.56 crore a year earlier.19
- In its annual report for the year to Mar 2026, the company said CRISIL rates its long-term borrowing AA+/Stable and short-term A1+ (the agency's view of its ability to repay), with debt to equity (borrowings against shareholders' funds) around 0.2 times.2021
Revenue mix
- Standalone sales by product22
Item year to Mar 2026 year to Mar 2025 Yarn ₹6,069.19 crore ₹5,953.54 crore Fabric ₹3,251.38 crore ₹3,318.66 crore Garments ₹141.54 crore ₹126.01 crore - Share of revenue by product, in the presentation of 30 Jul 202623
Item quarter to Jun 2026 Yarn 69.0% Fabric 31.0% - On its earnings call of 31 Jul 2026, the company said its yarn goes about one-third each to exports, domestic sales and its own use, and that about 7% to 8% of its yarn production goes to China.24
Where revenue comes from
Plants and capacity
- At the end of March 2026 the company had 13 manufacturing plants with 1.25 million spindles (a spindle is one spinning position on a yarn machine), 1,550 looms and processing capacity of 240 million metres of fabric a year.27
- Spinning ran at 94% utilisation through the year to Mar 2026, in which 35,000 spindles were added.2829
- Yarn mills are at Ludhiana and Malerkotla (Punjab), Baddi (Himachal Pradesh), and Mandideep, Satlapur and Budhni (Madhya Pradesh); fabric mills at Baddi and Budhni; the shirt unit at Ludhiana.30
- On its earnings call of 31 Jul 2026, the company said its technical textiles plant at Baddi, making synthetic functional fabric with capacity of 15 lakh metres a month, was 20% utilised and it aims for 70% to 80% within 6 months.313233
Customers and partners
Expansion and capital spending
- In its presentation of 30 Jul 2026, the company put its announced capital spending at ₹3,660 crore, across spinning, fabrics, technical textiles, garments and green energy.3637
- On its earnings call of 31 Jul 2026, the company said about ₹800 crore to ₹900 crore of that spending would fall in the following year, and the rest was done or would be done within the current year.38
- In its exchange filing of 7 May 2026, the company said its board approved raising shirt capacity, about 95% utilised, from 2.20 million to 4.50 million a year by the end of the year to Mar 2027, for about ₹125 crore.39
- On its earnings call of 31 Jul 2026, the company said construction of an open-end spinning project (a high-speed spinning method) of about 55 to 60 tonnes a day had just begun and could be ready in about 10 months.40
Green power
- In its annual report for the year to Mar 2026, the company listed solar capacity of 68.31 MWp (megawatts at peak output).41
- The company stated in its annual report for the year to Mar 2026 that its renewable projects would take green power to 89.15 MW, over 60% of average demand, by Mar 2028.42
- The company said it is replacing coal-fired boilers with biomass ones, started one at Baddi in the week before its call of 31 Jul 2026 and expected one in Madhya Pradesh in about a month; its documents give no later update.4344
Recent events
- On 5 Oct 2026 the company agreed to pay ₹41.85 crore for at least 26% of Serentica Renewables India 32, a captive project (built to serve its own plants) to supply 27 MW of wind and solar power to its Himachal Pradesh plants.454647
- On 29 May 2026 it invested ₹24.46 crore for 31.2% of a ReNew Green company building a wind and solar plant in Ratlam, Madhya Pradesh.48
- Commercial production began at the Baddi technical textiles plant on 1 Mar 2026 and on a new 31 million metres a year processing line at Budhni on 7 Mar 2026.49
Last updated
All 49 sources, each with its page
- 1. Annual report, 25 Aug 2026, page 121
- 2. Annual report, 25 Aug 2026, page 8
- 3. Annual report, 25 Aug 2026, page 18
- 4. Annual report, 25 Aug 2026, page 15
- 5. Annual report, 25 Aug 2026, page 20
- 6. Earnings call, 31 Jul 2026, page 11
- 7. Annual report, 25 Aug 2026, page 8
- 8. Annual report, 25 Aug 2026, page 31
- 9. Annual report, 25 Aug 2026, page 148
- 10. Annual report, 25 Aug 2026, page 52
- 11. Annual report, 25 Aug 2026, page 78
- 12. Annual report, 25 Aug 2026, page 10
- 13. Annual report, 25 Aug 2026, page 10
- 14. Annual report, 25 Aug 2026, page 8
- 15. Annual report, 25 Aug 2026, page 46
- 16. Annual report, 25 Aug 2026, page 52
- 17. Annual report, 25 Aug 2026, page 6
- 18. Annual report, 25 Aug 2026, page 51
- 19. Annual report, 25 Aug 2026, page 51
- 20. Annual report, 25 Aug 2026, page 51
- 21. Annual report, 25 Aug 2026, page 7
- 22. Annual report, 25 Aug 2026, page 95
- 23. Investor presentation, 30 Jul 2026, page 16
- 24. Earnings call, 31 Jul 2026, page 12
- 25. Investor presentation, 30 Jul 2026, page 16
- 26. Annual report, 25 Aug 2026, page 51
- 27. Annual report, 25 Aug 2026, page 12
- 28. Annual report, 25 Aug 2026, page 16
- 29. Annual report, 25 Aug 2026, page 52
- 30. Annual report, 25 Aug 2026, page 9
- 31. Annual report, 25 Aug 2026, page 52
- 32. Annual report, 25 Aug 2026, page 7
- 33. Earnings call, 31 Jul 2026, page 7
- 34. Annual report, 25 Aug 2026, page 104
- 35. Earnings call, 31 Jul 2026, page 12
- 36. Investor presentation, 30 Jul 2026, page 17
- 37. Annual report, 25 Aug 2026, page 10
- 38. Earnings call, 31 Jul 2026, page 13
- 39. Exchange filing, 7 May 2026, page 1
- 40. Earnings call, 31 Jul 2026, page 6
- 41. Annual report, 25 Aug 2026, page 12
- 42. Annual report, 25 Aug 2026, page 29
- 43. Annual report, 25 Aug 2026, page 29
- 44. Earnings call, 31 Jul 2026, page 6
- 45. Exchange filing, 5 Oct 2026, page 1
- 46. Exchange filing, 5 Oct 2026, page 3
- 47. Exchange filing, 5 Oct 2026, page 2
- 48. Exchange filing, 29 May 2026, page 1
- 49. Annual report, 25 Aug 2026, page 52
Results
Consolidated; ₹ crore.Vardhman Textiles quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +3.3%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- −0.5%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹2,703 Crup 8.21%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹315 Crup 66.21%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 11.6%
Revenue by quarter
Peak revenue ₹2,703 Cr, quarter to Jun 2026; lowest ₹2,386 Cr, quarter to Jun 2025
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,502 | 2,465 | 2,509 | 2,386 | 2,480 | 2,505 | 2,498 | 2,703 |
| Net profit | 197 | 212 | 238 | 208 | 188 | 169 | 189 | 315 |
| Net margin | 7.9% | 8.6% | 9.5% | 8.7% | 7.6% | 6.7% | 7.6% | 11.6% |
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹9,869 Crup 0.86%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹753 Crdown 15.06%
- Net margin
- 7.6%
Revenue by year
Peak revenue ₹10,137 Cr, year to Mar 2023; lowest ₹6,067 Cr, year to Mar 2017
Net profit by year, a loss in red
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6,067 | 6,248 | 6,878 | 6,735 | 6,140 | 9,622 | 10,137 | 9,505 | 9,785 | 9,869 |
| Net profit | 981 | 581 | 741 | 591 | 422 | 1,551 | 805 | 637 | 887 | 753 |
| Net margin | 16.2% | 9.3% | 10.8% | 8.8% | 6.9% | 16.1% | 7.9% | 6.7% | 9.1% | 7.6% |
Consolidated. Years to March. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- TextilesTextiles, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹9,652 Crup 0.68%96.8%
- Acrylic FibreAcrylic Fibre, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹319 Crup 13.14%3.2%
The pill is the change in revenue on the year before; the share is of all the businesses together.
Valuation
Today, against the company's own history.Vardhman Textiles PE ratio and valuation
Price to earnings
At or below today's level on 71% of 2,354 trading days over the last 10 years.
LowestHighest
Its median12.27Industry median14.34
Price to book
At or below today's level on 64% of 1,973 trading days since Nov 2018.
LowestHighest
Its median1.24Industry median1.09
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 51% of 2,468 trading days over the last 10 years.
LowestHighest
Its median0.98%Industry median0.46%
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +33.5% | −15.7% | +57.2% | 1.0% |
| 3 years | +22.3% | −2.2% | +24.0% | 1.0% |
| 5 years | +16.2% | +12.5% | +2.3% | 1.2% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.
Mutual fund holdings
62 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 46 of the 51 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 62 funds holding Vardhman Textiles
- AddedAdded. Funds that held more shares than at the end of the month before.
- 16
- CutCut. Funds that held fewer shares than at the end of the month before.
- 35
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 11
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 1
| Fund | |||
|---|---|---|---|
 HDFC Small Cap FundHDFC Mutual Fund | 93,42,211 | 1.22% | ₹499.4 Cr |
 Nippon India Small Cap FundNippon India Mutual Fund | 84,65,828 | 0.56% | ₹452.6 Cr |
| HDFC Mid Cap FundHDFC Mutual Fund | 57,44,601 | 0.30% | ₹307.1 Cr |
 DSP Small Cap FundDSP Mutual Fund | 38,15,786 | 0.95% | ₹204.0 Cr |
 HSBC Value FundHSBC Mutual Fund | 27,01,023 | 0.98% | ₹144.4 Cr |
| HDFC Aggressive Hybrid FundHDFC Mutual Fund | 10,50,340 | 0.27% | ₹56.2 Cr |
| HDFC Dividend Yield FundHDFC Mutual Fund | 6,14,261 | 0.62% | ₹32.8 Cr |
 Bajaj Finserv Small Cap FundBajaj Finserv Mutual Fund | 4,80,566 | 0.93% | ₹25.7 Cr |
| DSP Multi Cap FundDSP Mutual Fund | 4,28,942 | 0.80% | ₹22.9 Cr |
 Bank of India Small Cap FundBank of India Mutual Fund | 4,00,000 | 0.58% | ₹21.4 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Promoter and insider buying and selling
Trades made since 30 Oct 2025.Vardhman Textiles insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Promoters and promoter group: no market trade
- Others: no market trade
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.
Vardhman Textiles competitors and peers
Other Textile Products, 270 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to Vardhman Textiles in market cap. 1 company in its own group left out: one owns more than half of the other, directly or through a company it controls, or one owner more than half of both.Textile stocks
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 K.P.R. MillKPRMILL | 37,008 | 35.61 | 5.95 | +6.4% | +24.1% | 18.0% | 19.7% | 0.46% |
 Welspun LivingWELSPUNLIV | 20,045 | 72.20 | 4.08 | −3.3% | −48.7% | 5.7% | 7.0% | 0.05% |
 TridentTRIDENT | 10,916 | 27.62 | 2.29 | −2.4% | −9.5% | 8.4% | 8.9% | 2.33% |
 Indo Count IndustriesICIL | 8,899 | 58.98 | 3.78 | +5.3% | −27.2% | 6.5% | 7.5% | 0.33% |
 Garware Technical FibresGARFIBRES | 7,341 | 30.99 | 5.22 | +17.4% | +16.2% | 17.5% | 20.5% | 1.20% |
 KusumgarKUSUMGAR | 5,706 | – | – | – | – | – | – | 0.00% |
 Sanathan TextilesSANATHAN | 4,253 | 70.01 | 2.27 | +48.5% | −59.7% | 3.3% | 6.2% | 0.00% |
 Alok IndustriesALOKINDS | 4,250 | – | – | +6.0% | – | – | −3.8% | 0.00% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.Vardhman Textiles dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossaryHighest ₹6.80 a share, year to Mar 2022.
| Ex-date | Type | Per share |
|---|---|---|
| 28 Aug 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹5.00 |
| 12 Sep 2025 | Final | ₹5.00 |
| 6 Sep 2024 | Final | ₹4.00 |
| 15 Sep 2023 | Final | ₹3.50 |
| 2 Nov 2021 | Interim | ₹34.00 |
| 16 Sep 2021 | Final | ₹17.50 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Vardhman Textiles announcements
Oct 2026
5 Oct · Updates
5 Oct · Business
Sep 2026
9 Sep · Updates
Vardhman Textiles share price by year
Each calendar year to 2025.Vardhman Textiles share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 437.55 | −13.5% | 515.50 | 364.45 |
| 2024 | 506.00 | +31.0% | 568.45 | 378.15 |
| 2023 | 386.15 | +17.0% | 424.25 | 274.75 |
| 2022 | 330.15 | −28.8% | 562.68 | 250.80 |
| 2021 | 463.68 | +113.7% | 468.67 | 204.87 |
| 2020 | 217.02 | +9.3% | 218.80 | 122.99 |
| 2019 | 198.49 | −10.9% | 228.80 | 173.82 |
| 2018 | 222.80 | −19.2% | 299.94 | 192.94 |
| 2017 | 275.77 | +24.0% | 275.77 | 219.54 |
| 2016 | 222.38 | +34.0% | 228.81 | 141.28 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.
Recent sessions
The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 28 Oct 2026 | 494.95 | 509.00 | 488.10 | 505.70 | 499.23 | 1,57,630 | 49.3% |
| 27 Oct 2026 | 495.00 | 500.85 | 488.65 | 497.35 | 495.95 | 1,77,847 | 52.8% |
| 26 Oct 2026 | 496.00 | 501.60 | 486.80 | 495.45 | 495.28 | 1,32,189 | 50.7% |
| 23 Oct 2026 | 502.00 | 506.25 | 483.50 | 501.45 | 493.15 | 2,07,584 | 52.2% |
| 22 Oct 2026 | 507.00 | 509.90 | 496.45 | 503.00 | 503.97 | 1,47,862 | 48.4% |
| 21 Oct 2026 | 527.05 | 528.85 | 507.25 | 512.00 | 514.23 | 1,91,674 | 45.7% |
| 19 Oct 2026 | 531.00 | 531.15 | 517.30 | 527.95 | 526.64 | 3,02,820 | 54.3% |
| 16 Oct 2026 | 540.00 | 543.10 | 531.00 | 531.90 | 535.30 | 1,57,109 | 52.5% |
| 15 Oct 2026 | 531.00 | 542.00 | 529.05 | 539.00 | 536.29 | 1,56,474 | 64.4% |
Prices in ₹ per share as traded, not adjusted.
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 24 Mar 2022 | Split | 0.2000 | Each share became 5. |
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.
Company details
- NSE symbol
- VTL
- BSE code
- 502986
- ISIN
- INE825A01020
- Industry
- Textiles & Apparels
- Former symbols
- MAHAVIRSPG
- Website
- www.vardhman.com
- CIN
- L17111PB1973PLC003345
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1973
- Registered office
- Vardhman premises, Chandigarh Road, Ludhiana 141010, Punjab
- Share registrar
- Alankit Assignments Ltd
- Keeps the register of shareholders and handles transfers and dividend payments
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