VARDMNPOLY
Vardhman Polytex financials
- Market cap
- ₹293 Cr
- Sector
- Textiles
What Vardhman Polytex Limited does
Vardhman Polytex Limited, an Oswal Group company, is engaged in the manufacturing of yarns. It previously ran three production facilities — Nalagarh (Himachal Pradesh), Ludhiana (Punjab) and Bathinda (Punjab) — but the Bathinda unit was closed in FY2023-24 due to ageing machines and operating losses, and the Ludhiana unit was shut in March 2025, leaving Nalagarh as its only operating yarn-manufacturing facility. In December 2024 the company reclassified the idle Bathinda land from fixed assets to inventory and began pursuing its monetization (including a residential-colony proposal cleared by the Bathinda Development Authority), formally adding a Real Estate segment alongside its existing Textile business.
Segments
- Textile (Yarn Manufacturing)
- Real Estate
- Manufacturing units (total)
- 3 — Nalagarh (Himachal Pradesh), Ludhiana (Punjab), Bathinda (Punjab)
- Operational manufacturing unit
- 1 (Nalagarh, Himachal Pradesh) — Bathinda and Ludhiana units closed
- Business segments
- 2 — Textile (yarn manufacturing) and Real Estate (added Dec 2024)
- Branch offices
- 1 (New Delhi)
Quarterly results
Q1 FY27: revenue up 1.7% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 64 | 75 | 81 | 60 | 62 −3% | 51 −32% | 65 −20% | 61 +2% |
| EBITDA | -4 | 27 | -2 | 2 | 11 +375% | 0 −100% | 2 +200% | -1 −150% |
| Net profit | 1 | 24 | 1 | 0 | 6 +500% | 0 −100% | 1 +0% | 311 |
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 −34.7% 1Y
1Y: ₹9.09 on 10 Sept 2025 → ₹5.94. High ₹9.09 (10 Sept 2025), low ₹5.34 (13 Jan 2026).
Financials, as filed
Revenue fell 27.1% a year over 3 years, FY23 to FY26. Operating margin widened to 6.3%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹616 Cr | ₹372 Cr | ₹284 Cr | ₹238 Cr |
| Operating profit | ₹-36 Cr | ₹-42 Cr | ₹12 Cr | ₹15 Cr |
| Operating margin | -5.9% | -11.3% | 4.2% | 6.3% |
| Interest | ₹53 Cr | ₹3 Cr | ₹14 Cr | ₹9 Cr |
| Depreciation | ₹12 Cr | ₹11 Cr | ₹8 Cr | ₹8 Cr |
| Net profit | ₹1 Cr | ₹-27 Cr | ₹15 Cr | ₹7 Cr |
| Net margin | 0.2% | -7.3% | 5.3% | 2.9% |
| Cash from operations | ₹40 Cr | ₹-14 Cr | ₹-98 Cr | ₹-30 Cr |
| Free cash flow | ₹39 Cr | ₹12 Cr | ₹-75 Cr | ₹-28 Cr |
| ROCE | -34.0% | — | — | — |
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 ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹22 Cr | ₹22 Cr | ₹22 Cr | ₹27 Cr | ₹46 Cr | ₹48 Cr |
| Reserves | ₹-370 Cr | ₹-386 Cr | ₹-385 Cr | ₹-388 Cr | ₹-266 Cr | ₹-245 Cr |
| Borrowings | ₹523 Cr | ₹529 Cr | ₹447 Cr | ₹76 Cr | ₹49 Cr | ₹55 Cr |
| Other liabilities | ₹130 Cr | ₹161 Cr | ₹206 Cr | ₹560 Cr | ₹458 Cr | ₹425 Cr |
| Total liabilities | ₹306 Cr | ₹326 Cr | ₹291 Cr | ₹276 Cr | ₹286 Cr | ₹283 Cr |
| Fixed assets | ₹182 Cr | ₹170 Cr | ₹159 Cr | ₹130 Cr | ₹99 Cr | ₹95 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹2 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹123 Cr | ₹156 Cr | ₹133 Cr | ₹146 Cr | ₹185 Cr | ₹188 Cr |
| Total assets | ₹306 Cr | ₹326 Cr | ₹291 Cr | ₹276 Cr | ₹286 Cr | ₹283 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 −8.71 pp while FIIs added +5.41 pp. The shareholder count grew 12% to 34,136.
- Promoters
- 37.5%
- FIIs
- 5.6%
- Public
- 56.9%
Since Jun 2025
- Public −8.71 pp
- FIIs +5.41 pp
- Promoters +3.28 pp
How it drifted, 12 quarters
Over this window promoters fell from 55.2% to 37.5% — −17.7 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 55.2%, FIIs 1.4%, DIIs 0.0%, Public 43.4%.Dec '23: Promoters 49.1%, FIIs 0.7%, DIIs 0.0%, Public 50.2%.Mar '24: Promoters 49.1%, FIIs 0.4%, DIIs 0.0%, Public 50.5%.Jun '24: Promoters 49.1%, FIIs 0.2%, DIIs 0.0%, Public 50.6%.Sep '24: Promoters 49.1%, FIIs 0.3%, DIIs 0.0%, Public 50.5%.Dec '24: Promoters 30.8%, FIIs 0.6%, Public 68.6%.Mar '25: Promoters 34.2%, FIIs 0.5%, Public 65.2%.Jun '25: Promoters 34.2%, FIIs 0.2%, Public 65.6%.Sep '25: Promoters 34.2%, FIIs 0.3%, Public 65.5%.Dec '25: Promoters 34.2%, FIIs 0.5%, Public 65.3%.Mar '26: Promoters 37.5%, FIIs 5.6%, Public 56.9%.Jun '26: Promoters 37.5%, FIIs 5.6%, Public 56.9%.
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.
- Pine Oak Global Fund FPI fund +0.40 pp 5.62% held
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 Vardhman Polytex Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Anupama Kothari | 10.35% | unchanged |
| Oswal Holding Private Limited | 9.74% | unchanged |
| Panchsheel Textile Manufacturing And Trdg Co.(P) Ltd | 9.17% | unchanged |
| Alma Assets Consultancy Private Limited | 9.03% | unchanged |
| Pine Oak Global Fund FPI fund | 5.62% | +0.40 pp |
| Altfort Merchants Private Limited | 4.52% | unchanged |
| Navin Kumar Gupta | 3.28% | unchanged |
| Ruchi Gupta | 2.89% | unchanged |
| Mayank Subhash Rathod . | 2.81% | unchanged |
| Saajan Subhash Rathod | 2.50% | unchanged |
| Sahi Logistics & Infra Private Limited | 2.13% | unchanged |
| Mangala Subhash Rathod | 1.74% | −0.06 pp |
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.
Learn to analyse Vardhman Polytex Limited
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