VADILALIND

Vadilal Industries share price & financials

Price
₹6,716
Market cap
₹5.0k Cr
Sector
Fast Moving Consumer Goods

What Vadilal Industries Limited does

Vadilal Industries manufactures and markets ice creams, frozen desserts and processed foods under the Vadilal brand, a 111-year-old, fourth-generation family-run business headquartered in Ahmedabad. It operates through two segments - Ice Cream and Processed Foods - selling through a large domestic distribution network as well as exports to Indian-diaspora and other markets abroad, especially the U.S. It also runs branded ice cream parlours (Now For Ever, Happinezz, Hangout) as an experiential retail channel, and is present on modern trade, QSR and quick-commerce/e-commerce platforms.

Segments

  • Ice Cream
  • Processed Foods
Market position
Second-largest ice cream brand in India by volume
Company age / heritage
111-year-old, fourth-generation family-run brand
Manufacturing facilities
3 plants - Pundhra (Gandhinagar, Gujarat) and Bareilly (Uttar Pradesh) for ice cream, Dharampur (Gujarat) for processed foods
Ice cream production capacity
~5.5 lakh litres per day across Pundhra and Bareilly plants
Cone production capacity
23 lakh cones per day - India's highest-capacity cone-making line
Export reach
Products sold in 45 countries across four continents, incl. US, Canada, UK, Middle East, Australia, New Zealand
Headquarters Ahmedabad, Gujarat, India Company website

Quarterly results

Q1 FY27: revenue up 34.1%, net profit up 95.5% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue296 204 275 507 341 +15%239 +17%416 +51%680 +34%
EBITDA61 26 39 100 51 −16%11 −58%85 +118%166 +66%
Net profit39 12 22 67 33 −15%0 −100%55 +150%131 +96%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +23.2% 1Y

₹4.0k₹5.0k₹6.0k₹7.0k₹8.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹5,650.5 on 10 Sept 2025 → ₹6,960.5. High ₹7,900 (28 Aug 2026), low ₹4,037.6 (22 Jan 2026).

Financials, as filed

Revenue grew 12.4% a year over 3 years, FY23 to FY26. Operating margin widened to 16.4%.

Year endingFY23FY24FY25FY26
Revenue₹1.1k Cr₹1.1k Cr₹1.2k Cr₹1.5k Cr
Operating profit₹162 Cr₹220 Cr₹239 Cr₹247 Cr
Operating margin15.4%19.6%19.3%16.4%
Interest₹17 Cr₹18 Cr₹14 Cr₹17 Cr
Depreciation₹29 Cr₹35 Cr₹43 Cr₹50 Cr
Net profit₹96 Cr₹146 Cr₹150 Cr₹155 Cr
Net margin9.1%13.0%12.1%10.3%
Cash from operations₹39 Cr₹192 Cr₹111 Cr₹143 Cr
Free cash flow₹-18 Cr₹133 Cr₹33 Cr₹47 Cr
ROCE26.0%27.0%25.0%22.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹7 Cr₹7 Cr₹7 Cr₹7 Cr₹7 Cr₹7 Cr
Reserves₹244 Cr₹290 Cr₹390 Cr₹535 Cr₹778 Cr₹843 Cr
Borrowings₹158 Cr₹186 Cr₹291 Cr₹223 Cr₹204 Cr₹230 Cr
Other liabilities₹159 Cr₹140 Cr₹150 Cr₹151 Cr₹167 Cr₹188 Cr
Total liabilities₹567 Cr₹623 Cr₹838 Cr₹917 Cr₹1.2k Cr₹1.3k Cr
Fixed assets₹312 Cr₹307 Cr₹403 Cr₹444 Cr₹472 Cr₹536 Cr
Capital work in progress₹5 Cr₹3 Cr₹20 Cr₹12 Cr₹14 Cr₹20 Cr
Investments₹1 Cr₹1 Cr₹5 Cr₹16 Cr₹82 Cr₹21 Cr
Other assets₹250 Cr₹313 Cr₹410 Cr₹445 Cr₹588 Cr₹691 Cr
Total assets₹567 Cr₹623 Cr₹838 Cr₹917 Cr₹1.2k Cr₹1.3k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public trimmed −1.05 pp while DIIs added +0.82 pp. The shareholder count shrank 8% to 19,041.

Promoters
64.7%
FIIs
1.0%
DIIs
1.3%
Public
33.0%

Since Jun 2025

  • Public −1.05 pp
  • DIIs +0.82 pp
  • FIIs +0.25 pp

How it drifted, 12 quarters

Over this window the public fell from 35.2% to 33.0% — −2.2 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 64.7%, FIIs 0.1%, Public 35.2%.Dec '23: Promoters 64.7%, FIIs 0.1%, Public 35.2%.Mar '24: Promoters 64.7%, FIIs 0.5%, Public 34.8%.Jun '24: Promoters 64.7%, FIIs 0.4%, Public 34.9%.Sep '24: Promoters 64.7%, FIIs 0.3%, DIIs 0.1%, Public 34.9%.Dec '24: Promoters 64.7%, FIIs 0.3%, Public 35.0%.Mar '25: Promoters 64.7%, FIIs 0.7%, Public 34.6%.Jun '25: Promoters 64.7%, FIIs 0.8%, DIIs 0.4%, Public 34.1%.Sep '25: Promoters 64.7%, FIIs 0.6%, DIIs 0.5%, Public 34.2%.Dec '25: Promoters 64.7%, FIIs 0.6%, DIIs 0.4%, Public 34.3%.Mar '26: Promoters 64.7%, FIIs 0.6%, DIIs 0.4%, Public 34.3%.Jun '26: Promoters 64.7%, FIIs 1.0%, DIIs 1.3%, Public 33.0%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Vadilal Industries Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Vadilal International Pvt Ltd 39.09%unchanged
Devanshu Laxmanbhai Gandhi 4.81%unchanged
Vadilal Finance Company Pvt Ltd 4.57%unchanged
Veronica Constructions Pvt Ltd 3.40%unchanged
Rajesh Ramchandra Gandhi 3.17%unchanged
Virendra Ramchandra Gandhi 2.21%unchanged
Mamta Rajesh Gandhi 1.70%unchanged
Gandhi Virendra Ramchandra Huf 1.67%unchanged
Psl Limited 1.66%−0.15 pp
Ila Virendrabhai Gandhi 1.50%unchanged
Investor Education and Protection Fund 1.49%unchanged
Nirankar Advisor Llp 1.14%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Fair

To justify its price of ₹6960, this stock must grow earnings at 17% every year for 7 years. Our analysis caps realistic growth at ~17%. At that growth it is worth ₹6958 — downside of 0%.

Growth the price implies
17.2% a year
for 7 years, fading to 4%
It has actually compounded at
17.4% a year
net profit, FY23–FY26 · EPS 17.2%
The gap
0.0 pp
-0% downside if it only repeats history
Price today ₹6,960.5 Value at the reference growth ₹6,957.8

Change the assumptions yourself →

Learn to analyse Vadilal Industries Limited

Guides on how to read this kind of business and the numbers that matter.