Key Events This Week
19 Jan: Stock opens at Rs.36.65, declines 2.58% amid broader market weakness
20 Jan: Quarterly results reveal strong turnaround; stock edges up 0.25%
21 Jan: Modest gains continue with 0.14% rise despite Sensex decline
22 Jan: Stock dips 0.73% as Sensex rebounds 0.76%
23 Jan: Stock rallies 1.40% despite Sensex falling 1.33%
19 January 2026: Weak Start Amid Market Sell-Off
Vardhman Acrylics began the week at Rs.36.65, down 2.58% from the previous Friday’s close of Rs.37.62. This decline coincided with a broader market sell-off as the Sensex dropped 0.49% to 36,650.97. The stock’s volume was relatively low at 21,383 shares, reflecting cautious investor sentiment ahead of the company’s quarterly results announcement. The initial weakness set a subdued tone for the week.
20 January 2026: Strong Quarterly Turnaround Spurs Mild Gains
On 20 January, Vardhman Acrylics reported a significant quarterly turnaround for the December 2025 quarter, posting its highest ever PBDIT of ₹7.09 crores and an operating margin of 9.29%. Net profit after tax surged to ₹7.41 crores, with earnings per share rising to ₹0.92. This marked a clear reversal from the previous flat trend, with the company’s financial trend score improving from -5 to 13.
Despite these positive fundamentals, the stock price rose modestly by 0.25% to close at Rs.36.74, reflecting tempered market enthusiasm. The Sensex, meanwhile, plunged 1.82% to 35,984.65 amid broader macroeconomic concerns. The stock’s intraday range of Rs.36.60 to Rs.40.00 indicated some volatility but remained near its 52-week low of Rs.36.00, underscoring ongoing investor caution.
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21 January 2026: Modest Gains Amid Continued Market Weakness
The stock continued to inch higher on 21 January, closing at Rs.36.79, a 0.14% gain from the previous day. This modest rise came despite the Sensex declining further by 0.47% to 35,815.26. Trading volume was moderate at 35,159 shares. The slight upward movement suggested some investor confidence in the company’s improving fundamentals, although the broader market environment remained challenging.
22 January 2026: Stock Dips as Sensex Rebounds
On 22 January, Vardhman Acrylics reversed course, falling 0.73% to Rs.36.52 while the Sensex rebounded 0.76% to 36,088.66. The stock’s volume increased to 44,086 shares, indicating some profit-taking or cautious positioning ahead of the week’s close. This divergence between the stock and the benchmark index highlighted the mixed sentiment surrounding the company’s operational outlook, particularly concerns over its low ROCE of 5.60% and reliance on non-operating income, which accounted for 35.17% of profit before tax.
23 January 2026: Stock Rallies Despite Market Weakness
In the final trading session of the week, Vardhman Acrylics rallied 1.40% to close at Rs.37.03, its highest close of the week. This gain contrasted with a 1.33% decline in the Sensex to 35,609.90, signalling relative strength in the stock. Volume was 36,198 shares, reflecting renewed buying interest possibly driven by the company’s quarterly performance and cautious optimism about its turnaround. However, the stock remains well below its 52-week high of Rs.54.25, underscoring the challenges ahead.
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| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-01-19 | Rs.36.65 | -2.58% | 36,650.97 | -0.49% |
| 2026-01-20 | Rs.36.74 | +0.25% | 35,984.65 | -1.82% |
| 2026-01-21 | Rs.36.79 | +0.14% | 35,815.26 | -0.47% |
| 2026-01-22 | Rs.36.52 | -0.73% | 36,088.66 | +0.76% |
| 2026-01-23 | Rs.37.03 | +1.40% | 35,609.90 | -1.33% |
Key Takeaways
Vardhman Acrylics demonstrated a notable quarterly turnaround with record PBDIT and net profit figures, signalling operational improvements and margin expansion. The financial trend score’s jump from -5 to 13 highlights a positive shift in company fundamentals. However, the stock’s weekly decline of 1.57% contrasted with the Sensex’s sharper 3.31% fall, indicating relative resilience but also ongoing investor caution.
Concerns remain regarding the company’s low ROCE of 5.60%, which points to suboptimal capital utilisation, and the high proportion of non-operating income (35.17% of PBT), which may affect earnings sustainability. The stock’s price action reflected these mixed signals, with modest gains on days of positive news and dips when the broader market rebounded.
Volume trends suggest selective investor interest, particularly around the quarterly results release. The stock’s position near its 52-week low and well below its 52-week high underscores the challenges in regaining long-term investor confidence despite recent improvements.
Conclusion
Vardhman Acrylics Ltd’s week was characterised by a strong quarterly earnings turnaround amid a difficult market environment. While the company’s improved profitability and margin expansion are encouraging, the stock’s modest price gains and underlying operational concerns temper enthusiasm. The relative outperformance versus the Sensex suggests cautious optimism, but investors should remain attentive to the company’s capital efficiency and earnings quality in coming quarters. The week’s developments mark a tentative step forward in Vardhman Acrylics’ recovery journey within a challenging garments and apparels sector.
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