Vardhman Hold.

  • Market Cap: Micro Cap
  • Industry: Non Banking Financial Company (NBFC)
  • ISIN: INE701A01023
  • NSEID: VHL
  • BSEID: 500439
INR
3,145.00
22 (0.7%)
BSENSE

Mar 20

BSE+NSE Vol: 389

  • Price Points
  • Score
  • Mojo Parameters
  • Total Return
  • News and Corporate Actions
  • Key factors
  • Shareholding
  • Financials
  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

52 Week

Valuation
Technical
Day's Volume

CASH

389 (-34.36%) Volume

Shareholding (Dec 2025)

FII

0.05%

Held by 7 FIIs

DII

0.01%

Held by 0 DIIs

Promoter

74.90%

Who are the top shareholders of the Vardhman Hold.?

06-Jun-2025

The top shareholders of Vardhman Hold include Devakar Investment And Trading Company Private Limited with 34.29%, followed by public shareholder Anil Kumar Goel at 4.79%, and individual investors collectively holding 19.95%. Additionally, there are 10 foreign institutional investors and one mutual fund scheme with minor holdings.

The top shareholders of Vardhman Hold include the promoters, with the largest holding being Devakar Investment And Trading Company Private Limited, which owns 34.29% of the company. In addition, Anil Kumar Goel is the highest public shareholder, holding 4.79%. The company also has individual investors holding a total of 19.95%. There are a few institutional investors involved, with 10 foreign institutional investors (FIIs) holding 0.07% and one mutual fund scheme holding 0.06%.

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What does Vardhman Hold. do?

06-Jun-2025

Vardhman Holdings Ltd is a Small Cap NBFC engaged in lending and investing activities. As of March 2025, it reported net sales of 2 Cr and a net profit of 70 Cr, with a market cap of Rs 1,326 Cr.

Overview:<BR>Vardhman Holdings Ltd is engaged in lending and investing activities within the Non Banking Financial Company (NBFC) sector and is categorized as a Small Cap company.<BR><BR>History:<BR>Incorporated in 1962, Vardhman Holdings Ltd was formerly known as Vardhman Spinning & General Mills Ltd. The company commenced production in 1965 and reported its latest quarterly results for March 2025, showing net sales and profit figures.<BR><BR>Financial Snapshot:<BR>- Net Sales: 2 Cr (Quarterly Results - Mar 2025)<BR>- Net Profit: 70 Cr (Quarterly Results - Mar 2025)<BR>- Market Cap: Rs 1,326 Cr (Small Cap)<BR><BR>Key Metrics:<BR>- P/E: 5.00<BR>- Industry P/E: 23<BR>- Dividend Yield: 0.12%<BR>- Debt Equity: 0.00<BR>- Return on Equity: 7.29%<BR>- Price to Book: 0.37<BR><BR>Contact Details:<BR>Address: Vardhman Premises, Chandigarh Road Ludhiana Punjab : 141010<BR>Tel: 91-0161-2228943-48<BR>Email: secretarial.lud@vardhman.com<BR>Website: http://www.vardhman.in

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Has Vardhman Hold. declared dividend?

06-Jun-2025

Yes, Vardhman Holdings Ltd has declared a 50% dividend, amounting to ₹5 per share, with an ex-date of September 6, 2024. While recent returns have been volatile, the company has shown significant growth over the longer term, particularly a total return of 271.57% over the past five years.

Vardhman Holdings Ltd has declared a 50% dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 50%<BR>- Amount per share: 5<BR>- Ex-date: 06 Sep 24<BR><BR>Dividend Yield: 0.12%.<BR><BR>Total Returns by Period:<BR>In the last 6 months, the price return was -16.28%, with a dividend return of 0%, resulting in a total return of -16.28%.<BR><BR>Over the past year, the price return was 39.51%, the dividend return was 0.16%, leading to a total return of 39.67%.<BR><BR>In the 2-year period, the price return was 52.12%, the dividend return was 0.35%, culminating in a total return of 52.47%.<BR><BR>For the 3-year period, the price return was 35.27%, with a dividend return of 0.56%, giving a total return of 35.83%.<BR><BR>In the last 4 years, the price return was 66.36%, the dividend return was 0.81%, resulting in a total return of 67.17%.<BR><BR>Finally, over the 5-year period, the price return was 269.86%, the dividend return was 1.71%, leading to a total return of 271.57%.<BR><BR>Overall, Vardhman Holdings Ltd has declared a dividend, and while the recent total returns have shown some volatility, particularly in the short term, the longer-term returns indicate significant growth, particularly over the 5-year period.

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Who are the peers of the Vardhman Hold.?

03-Jun-2025

Vardhman Hold.'s peers include Bajaj Finance, Jio Financial, Cholaman.Inv.&Fn, Shriram Finance, and Muthoot Finance, among others. Vardhman Hold. has a 1-year return of 34.45%, outperforming Jio Financial's -20.22% and ranking well in management risk and capital structure.

Peers: The peers of Vardhman Hold. are Bajaj Finance, Jio Financial, Cholaman.Inv.&Fn, Shriram Finance, Muthoot Finance, Mufin Green, Oswal Green Tech, Crest Ventures, Indl.& Prud.Inv.<BR><BR>Quality Snapshot: Excellent management risk is observed at Bajaj Finance, Cholaman.Inv.&Fn, and Muthoot Finance, while Average management risk is found at Jio Financial, Crest Ventures, and Hexa Tradex. Good management risk is present at Shriram Finance, and the rest have Below Average management risk, including Vardhman Hold., Mufin Green, Oswal Green Tech, and Indl.& Prud.Inv. For growth, Excellent growth is seen at Jio Financial, Mufin Green, and Oswal Green Tech, while Good growth is noted at Bajaj Finance, Cholaman.Inv.&Fn, and Shriram Finance. Average growth is found at Vardhman Hold. and Muthoot Finance, with Below Average growth at the rest. In terms of capital structure, Excellent capital structure is observed at Bajaj Finance, Shriram Finance, Muthoot Finance, Vardhman Hold., and the rest have Good or Average capital structure.<BR><BR>Return Snapshot: The peer with the highest 1-year return is Bajaj Finance at 30.41%, while the lowest is Jio Financial at -20.22%. Vardhman Hold. has a 1-year return of 34.45%, which is higher than both. Additionally, Mufin Green, Oswal Green Tech, and Indl.& Prud.Inv. have negative six-month returns.

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Who are in the management team of Vardhman Hold.?

16-Jul-2025

As of March 2022, the management team of Vardhman Hold includes Paul Oswal (Chairman & Managing Director) and several independent directors, along with other directors and a company secretary, totaling 15 members. This diverse board oversees the company's governance.

As of March 2022, the management team of Vardhman Hold includes the following members:<BR><BR>1. Paul Oswal - Chairman & Managing Director<BR>2. Jagdish Rai Singal - Independent Director<BR>3. Sat Pal Kanwar - Independent Director<BR>4. Sachit Jain - Director<BR>5. Suchita Jain - Director<BR>6. Om Prakash Sharma - Independent Director<BR>7. Apinder Sodhi - Independent Director<BR>8. Rajeev Kumar Mittal - Independent Director<BR>9. Vikas Kumar - Director<BR>10. Sanjeev Jain - Independent Director<BR>11. Shakun Oswal - Director<BR>12. Swati Mangla - Company Secretary & Compliance Officer<BR>13. Pooja Mehta - Independent Director<BR>14. Devendra Bhushan Jain - Independent Director<BR>15. Manjul Pahwa - Independent Director<BR><BR>This diverse board comprises various directors, including independent directors and company officers, contributing to the governance of Vardhman Hold.

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How big is Vardhman Hold.?

24-Jul-2025

As of 24th July, Vardhman Holdings Ltd has a market capitalization of 1,302.00 Cr and reported Net Sales of 22.77 Cr and a Net Profit of 258.00 Cr for the latest four quarters. The company had Shareholder's Funds of 3,297.17 Cr and Total Assets of 3,286.79 Cr for the annual period ending March 2024.

As of 24th July, Vardhman Holdings Ltd has a market capitalization of 1,302.00 Cr, classified as a Small Cap company.<BR><BR>In the latest four quarters, Vardhman Holdings Ltd reported Net Sales of 22.77 Cr and a Net Profit of 258.00 Cr.<BR><BR>For the latest annual period ending March 2024, the company had Shareholder's Funds of 3,297.17 Cr and Total Assets of 3,286.79 Cr.

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How has been the historical performance of Vardhman Hold.?

25-Nov-2025

Vardhman Hold's historical performance has shown significant fluctuations, with net sales peaking at 33.10 Cr in Mar'22 before declining to 22.77 Cr in Mar'25, while total assets increased from 2,090.57 Cr in Mar'20 to 3,538.75 Cr in Mar'25. Overall, the company has experienced both growth and decline across various financial metrics.

Answer:<BR>The historical performance of Vardhman Hold shows significant fluctuations in key financial metrics over the years.<BR><BR>Breakdown:<BR>Vardhman Hold's net sales have varied considerably, peaking at 33.10 Cr in Mar'22 before declining to 22.77 Cr in Mar'25, with a notable increase from 5.89 Cr in Mar'23 to 14.90 Cr in Mar'24. The total operating income followed a similar trend, reaching a high of 33.10 Cr in Mar'22 and then dropping to 22.77 Cr in Mar'25. Operating profit (PBDIT) exhibited volatility, with a peak of 31.88 Cr in Mar'22, followed by a decline to 18.45 Cr in Mar'25. Profit before tax also showed fluctuations, with a high of 31.87 Cr in Mar'22 and a decrease to 18.44 Cr in Mar'25. The profit after tax was 3.47 Cr in Mar'25, down from 6.90 Cr in Mar'23. The consolidated net profit was 258.00 Cr in Mar'25, a decrease from 429.09 Cr in Mar'22. The company's total assets increased from 2,090.57 Cr in Mar'20 to 3,538.75 Cr in Mar'25, while total liabilities rose from 2,090.57 Cr to 3,538.75 Cr in the same period. Cash flow from operating activities was negative at -5.00 Cr in Mar'25, contrasting with a positive cash flow of 82.00 Cr in Mar'21. Overall, Vardhman Hold has experienced both growth and decline in various financial metrics, reflecting a complex performance history.

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Should I buy, sell or hold Vardhman Hold.?

26-Nov-2025

Is Vardhman Hold. technically bullish or bearish?

02-Dec-2025

As of December 1, 2025, Vardhman Hold's technical trend is mildly bearish, indicated by bearish MACD, Bollinger Bands, and KST, despite mildly bullish daily moving averages.

As of 1 December 2025, the technical trend for Vardhman Hold has changed from sideways to mildly bearish. The weekly MACD is bearish, and both the weekly and monthly Bollinger Bands indicate a mildly bearish stance. The KST also reflects a mildly bearish outlook on both weekly and monthly time frames. Although the daily moving averages are mildly bullish, the overall technical indicators suggest a bearish sentiment. The lack of signals from the RSI and the neutral stance of OBV further support a cautious view. Therefore, the current technical stance is mildly bearish.

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Is Vardhman Hold. overvalued or undervalued?

05-Dec-2025

As of December 4, 2025, Vardhman Hold. is considered undervalued with a PE Ratio of 4.73 and a Price to Book Value of 0.31, significantly lower than its peers, indicating potential for recovery despite recent underperformance against the Sensex.

As of 4 December 2025, Vardhman Hold. has moved from a fair to an attractive valuation grade, indicating a positive shift in its market perception. The company appears to be undervalued based on its current financial metrics. Key ratios include a PE Ratio of 4.73, a Price to Book Value of 0.31, and a PEG Ratio of 0.80, all suggesting that the stock is trading at a significant discount compared to its earnings growth potential.<BR><BR>In comparison to its peers, Vardhman Hold. stands out with a much lower PE Ratio than Bajaj Finance, which is at 34.9, and Life Insurance, which has a PE of 10.85, highlighting its relative undervaluation. Additionally, the company's EV to EBITDA ratio of 97.17 is considerably higher than that of Life Insurance at 8.92, further emphasizing the disparity in valuation within the sector. Despite recent underperformance against the Sensex, with a YTD return of -17.00% compared to the Sensex's 9.12%, the long-term performance over five years shows a robust return of 155.41%, reinforcing the potential for recovery and growth in Vardhman Hold.'s valuation.

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When is the next results date for Vardhman Holdings Ltd?

06-Feb-2026

The next results date for Vardhman Holdings Ltd is 10 February 2026.

The next results date for Vardhman Holdings Ltd is scheduled for 10 February 2026.

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Are Vardhman Holdings Ltd latest results good or bad?

10-Feb-2026

Vardhman Holdings Ltd's latest results show a mixed performance: while net profit increased by 16.46% quarter-on-quarter, it fell by 18.32% year-on-year, and net sales also declined 12.33% compared to last year. Overall, the company faces challenges in consistent income generation and has underperformed relative to its peers, indicating caution for investors.

Vardhman Holdings Ltd's latest results present a mixed picture. On the positive side, the company reported a consolidated net profit of ₹53.71 crore, which is a 16.46% increase compared to the previous quarter. Additionally, net sales surged by 109.45% quarter-on-quarter to ₹5.76 crore, and the operating margin reached an impressive 91.15%, the highest in eight quarters.<BR><BR>However, when looking at the year-on-year performance, the results are concerning. The net profit decreased by 18.32% compared to the same quarter last year, and net sales fell by 12.33%. This marks the third consecutive quarter of year-on-year revenue contraction, indicating ongoing challenges in generating consistent income.<BR><BR>Moreover, the company's return on equity (ROE) is relatively low at 8.51%, which is below industry standards, raising concerns about capital efficiency. The stock has also underperformed significantly compared to the broader NBFC sector, declining 6.42% over the past year while the sector gained 8.98%.<BR><BR>In summary, while there are some positive sequential improvements, the year-on-year declines and overall underperformance relative to peers suggest that the latest results are not entirely favorable. Investors should be cautious and consider the underlying weaknesses in the company's financial performance.

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Why is Vardhman Holdings Ltd falling/rising?

16-Mar-2026

As of 16-Mar, Vardhman Holdings Ltd's stock price is at 3,043.90, down 1.75%, and has been underperforming the market with a significant decline over the past month. The stock is near its 52-week low and shows a bearish trend, with decreasing investor participation indicating a lack of confidence.

As of 16-Mar, Vardhman Holdings Ltd's stock price is falling, currently at 3,043.90, reflecting a decrease of 54.1 points or 1.75%. The stock has been underperforming relative to the broader market, as evidenced by its performance over various periods. In the past week, the stock has declined by 1.49%, while the Sensex has dropped by 2.66%. Over the last month, Vardhman Holdings has seen a more significant decline of 6.80%, compared to the Sensex's 9.34% decrease.<BR><BR>Additionally, the stock is currently close to its 52-week low, just 0.78% away from Rs 3,020.1. It has been experiencing consecutive falls, losing 2.55% over the last two days. The stock is also trading below its moving averages across multiple time frames, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a bearish trend.<BR><BR>Investor participation appears to be declining, with delivery volume on March 13 falling by 56.82% compared to the 5-day average. This drop in trading activity suggests a lack of confidence among investors, contributing to the stock's downward movement. Overall, these factors collectively indicate that Vardhman Holdings Ltd is experiencing a decline in its stock price.

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iScoreScore
Click here to find our call on this stock
Strong Sell
Sell
Hold
Buy
Strong Buy

Dashboard

1

Weak Long Term Fundamental Strength with an average Return on Equity (ROE) of 8.51%

  • Poor long term growth as Net Sales has grown by an annual rate of 5.45%
2

Negative results in Dec 25

3

Despite the size of the company, domestic mutual funds hold only 0.23% of the company

4

Below par performance in long term as well as near term

stock-summaryMojo Parameters

Mojo Parameters

Loading Valuation Snapshot...

Stock DNA

stock-summary
Industry

Non Banking Financial Company (NBFC)

stock-summary
Market cap

INR 1,008 Cr (Micro Cap)

stock-summary
P/E

4.00

stock-summary
Industry P/E

20

stock-summary
Dividend Yield

0.16%

stock-summary
Debt Equity

0.00

stock-summary
Return on Equity

6.54%

stock-summary
Price to Book

0.27

Revenue and Profits:
Net Sales:
6 Cr
(Quarterly Results - Dec 2025)
Net Profit:
54 Cr
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0.16%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
-10.95%
0%
-10.95%
6 Months
-19.28%
0%
-19.28%
1 Year
-5.3%
0.15%
-5.15%
2 Years
13.85%
0.35%
14.2%
3 Years
22.9%
0.57%
23.47%
4 Years
-13.41%
0.52%
-12.89%
5 Years
72.49%
1.53%
74.02%

Latest dividend: 5 per share ex-dividend date: Sep-12-2025

Risk Adjusted Returns v/s stock-summary
Returns Beta
Icon
Beta has not been calculated since enough price history is not available
stock-summaryNews & Corporate Actions

Announcements stock-summary

Demat Report For The Month Ended 28Th February 2026

09-Mar-2026 | Source : BSE

Please find enclosed herewith Demat Report for the month ended 28th February 2026.

Announcement under Regulation 30 (LODR)-Newspaper Publication

20-Feb-2026 | Source : BSE

Please find attached herewith Newspaper notice regarding opening of Special window for transfer and dematerialisation of physical shares.

Announcement under Regulation 30 (LODR)-Newspaper Publication

11-Feb-2026 | Source : BSE

Please find attached herewith newspapers publication of Financial results for the quarter/ nine months ended 31st December 2025.

Corporate Actions stock-summary

stock-summary
BOARD MEETING

No Upcoming Board Meetings

stock-summary
DIVIDEND

Vardhman Holdings Ltd has declared 50% dividend, ex-date: 12 Sep 25

stock-summary
SPLITS

No Splits history available

stock-summary
BONUS

No Bonus history available

stock-summary
RIGHTS

No Rights history available

stock-summaryKey Factors

Quality key factors stock-summary

Factor
Value
Sales Growth (5y)
5.45%
EBIT Growth (5y)
12.88%
Net Debt to Equity (avg)
0
Institutional Holding
0.13%
ROE (avg)
8.51%

Valuation key factors

Factor
Value
P/E Ratio
4
Industry P/E
20
Price to Book Value
0.27
EV to EBIT
83.87
EV to EBITDA
83.87
EV to Capital Employed
0.27
EV to Sales
70.98
PEG Ratio
NA
Dividend Yield
0.16%
ROCE (Latest)
0.32%
ROE (Latest)
6.54%

Technicals key factors

Indicator
Weekly
Monthly
MACD
Bearish
Mildly Bearish
RSI
No Signal
No Signal
Bollinger Bands
Mildly Bearish
Bearish
Moving Averages
Bearish (Daily)
KST
Bearish
Mildly Bearish
Dow Theory
Mildly Bearish
No Trend
OBV
Mildly Bearish
Mildly Bearish
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Dec 2025stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Promoters

Pledged Promoter Holdings

None

Mutual Funds

Held by 1 Schemes (0.06%)

FIIs

Held by 7 FIIs (0.05%)

Promoter with highest holding

Devakar Investment And Trading Company Private Limited (34.29%)

Highest Public shareholder

Anil Kumar Goel (4.79%)

Individual Investors Holdings

19.81%

stock-summaryFinancial
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          "field": "Operating Profit Margin (Excl OI)",
          "val1": "72.86%",
          "val2": "70.87%",
          "chgp": "1.99%",
          "chgp_class": "positive"
        }
      ]
    }
  }
]

Quarterly Results Snapshot (Consolidated) - Dec'25 - YoYstock-summary

Dec'25
Dec'24
Change(%)
Net Sales
5.76
6.57
-12.33%
Operating Profit (PBDIT) excl Other Income
5.25
5.18
1.35%
Interest
0.00
0.00
Exceptional Items
0.00
0.00
Consolidate Net Profit
53.71
65.76
-18.32%
Operating Profit Margin (Excl OI)
91.15%
78.84%
12.31%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in quarter ended Dec 2025 is -12.33% vs -15.01% in Dec 2024

Direction Arrows
Consolidated Net Profit

YoY Growth in quarter ended Dec 2025 is -18.32% vs 22.69% in Dec 2024

Half Yearly Results Snapshot (Consolidated) - Sep'25stock-summary

Sep'25
Sep'24
Change(%)
Net Sales
6.16
14.00
-56.00%
Operating Profit (PBDIT) excl Other Income
5.48
10.20
-46.27%
Interest
0.00
0.00
Exceptional Items
0.00
0.00
Consolidate Net Profit
108.70
122.51
-11.27%
Operating Profit Margin (Excl OI)
88.96%
72.86%
16.10%
Values in Rs Cr.
Direction Arrows
Net Sales

Growth in half year ended Sep 2025 is -56.00% vs -61.29% in Sep 2024

Direction Arrows
Consolidated Net Profit

Growth in half year ended Sep 2025 is -11.27% vs 15.87% in Sep 2024

Nine Monthly Results Snapshot (Consolidated) - Dec'25stock-summary

Dec'25
Dec'24
Change(%)
Net Sales
11.92
20.57
-42.05%
Operating Profit (PBDIT) excl Other Income
10.73
15.38
-30.23%
Interest
0.00
0.00
Exceptional Items
0.00
0.00
Consolidate Net Profit
162.41
188.27
-13.74%
Operating Profit Margin (Excl OI)
90.02%
74.77%
15.25%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in nine months ended Dec 2025 is -42.05% vs -53.14% in Dec 2024

Direction Arrows
Consolidated Net Profit

YoY Growth in nine months ended Dec 2025 is -13.74% vs 18.16% in Dec 2024

Annual Results Snapshot (Consolidated) - Mar'25stock-summary

Mar'25
Mar'24
Change(%)
Net Sales
22.77
14.90
52.82%
Operating Profit (PBDIT) excl Other Income
16.59
10.56
57.10%
Interest
0.00
0.00
Exceptional Items
0.00
0.00
Consolidate Net Profit
258.00
184.87
39.56%
Operating Profit Margin (Excl OI)
72.86%
70.87%
1.99%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in year ended Mar 2025 is 52.82% vs 152.97% in Mar 2024

Direction Arrows
Consolidated Net Profit

YoY Growth in year ended Mar 2025 is 39.56% vs -19.07% in Mar 2024

stock-summaryCompany CV
About Vardhman Holdings Ltd stock-summary
stock-summary
Vardhman Holdings Ltd
Micro Cap
Non Banking Financial Company (NBFC)
Vardhman Holdings Ltd (Formerly known Vardhman Spinning & General Mills Ltd) was incorporated in 1962 and commenced production in 1965. It was promoted by V S Oswal and R C Oswal and is a part of the Vardhman group, which also includes companies like Mahavir Spinning Mills and Vardhman Polytex. The Company is presently engaged in lending and investing activities. In Nov.'92, the company came out with a Rs 47.82-Cr.
Company Coordinates stock-summary
Company Details
Vardhman Premises, Chandigarh Road Ludhiana Punjab : 141010
stock-summary
Tel: 91-0161-2228943-48
stock-summary
secretarial.lud@vardhman.com
Registrar Details
Alankit Assignments Ltd , Alankit House , 2 E/21, Jhandewala Extension, New Delhi