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Vardhman Textiles Limited (VTL)

₹531.90 -1.32% last close, 16 Oct

📊 NSE: VTL 🏢 Textiles - Cotton/Blended 📢 Latest filing: 05 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Vardhman Textiles' revenue was ₹2,703 Cr (+13.3% year on year, +8.2% on the previous quarter), and net profit ₹315 Cr (+51.5% year on year); the operating margin was 17.5%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹2,703	+13.3%	+8.2%
Operating profit	₹474	+45.4%	+61.1%
Net profit	₹315	+51.5%	+66.4%
EPS (₹)	10.88	+49.5%	+70.3%
Operating margin	17.5%	—	—

Full quarterly financials → Results calendar →

VTL delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 52.47% of the VTL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 46.63%. That is close to its usual level. Volume was 0.5 times its average, well below normal.

52.47%Delivery, 16 Oct

46.63%Own 20-session average

0.5×Volume vs its average

₹531.90NSE close · -1.32%

Delivery in the last 5 sessions: 54.9% · 48.1% · 39.1% · 64.4% · 52.5%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Vardhman Textiles to Invest ₹41.85 Cr for 26% Stake in Serentica SPV for Captive Green Power

🟡 NEUTRAL ⭐ 4/10

OTHER 📅 05 Oct 2026, 10:39 AM

Vardhman Textiles has entered into agreements to acquire a minimum 26% equity stake in Serentica Renewables India 32 Pvt Ltd for ₹41.85 crore in cash across three tranches. The SPV will construct a 40 MW wind plant in Karnataka and a 40 MWp/30 MW solar plant in Rajasthan to supply 27 MW of hybrid power to Vardhman's facilities in Himachal Pradesh. The investment is relatively small compared to Vardhman's net worth of ₹10,188 crore (<0.5%) and serves to fulfill captive power consumption norms. The deal involves no related-party transactions and is aimed at lowering energy costs and meeting green energy targets.

Vardhman Textiles will acquire at least a 26% stake in Serentica Renewables India 32 Pvt Ltd for ₹41.85 crore
Total equity capital of the SPV will be ₹160.96 crore, with Serentica contributing ₹119.11 crore (up to 74%)
Project includes a 40 MW wind plant in Karnataka and a 40 MWp/30 MW solar plant in Rajasthan
Contracted capacity is 27 MW wind-solar hybrid power supplying Vardhman's Himachal Pradesh plants
Cash contribution will be disbursed in three tranches tied to project execution stages

💡 Monitor commissioning timelines and subsequent quarterly power and fuel cost savings at Himachal Pradesh facilities.

Vardhman Textiles Closes Trading Window from Oct 1, 2026 for Q2/H1 FY27 Results

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 29 Sep 2026, 10:31 AM

Vardhman Textiles Limited has announced the closure of its trading window pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015. The trading window will shut on 1st October, 2026 at 09:00 a.m. and will remain closed until 48 hours after the un-audited financial results for the quarter and half-year ending 30th September, 2026 are made public. This is a standard regulatory intimation preceding quarterly earnings announcements.

Trading window closes on 1st October, 2026 at 09:00 a.m.
Applies ahead of un-audited financial results for the quarter/half-year ending 30th September, 2026
Trading window will re-open 48 hours after financial results are declared

💡 Track the upcoming board meeting announcement date to see when Vardhman Textiles will report its Q2 FY27 financial results.

Vardhman Textiles Shareholders Approve FY26 Accounts, Dividend & Director Appointments at 53rd AGM

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Sep 2026, 05:48 PM

Vardhman Textiles Limited disclosed the scrutinizer report for its 53rd Annual General Meeting held on September 17, 2026. All six ordinary resolutions, including the adoption of FY26 financial statements, dividend declaration, re-appointment of directors, and cost auditor remuneration, were approved with over 94% assent. Overall voter participation represented 82.86% to 82.89% of the total paid-up share capital. The meeting was conducted in 21 minutes via remote e-voting and electronic voting.

Adoption of FY26 Standalone and Consolidated Financial Statements passed with 99.999% assent (23,98,57,823 shares voted, representing 82.86% of capital)
Dividend declaration resolution approved with 99.999% assent (23,99,58,995 votes in favour)
Re-appointment of Mr. Sachit Jain passed with 94.996% assent and 5.004% dissent (1,20,08,185 dissenting shares)
Re-appointment of Mrs. Soumya Jain passed with 97.738% assent and 2.262% dissent

💡 Track the upcoming Q2 FY27 earnings report and the execution milestones of the planned INR 5,300-5,400 Cr capex program.

Vardhman Textiles AGM: All 6 Resolutions Approved with Over 94% Majority

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 18 Sep 2026, 05:40 PM

Vardhman Textiles has submitted the scrutinizer's report for its 53rd Annual General Meeting held on September 17, 2026. Shareholders approved all six ordinary resolutions, including the adoption of FY26 financial statements, dividend declaration, and director re-appointments. Total voter turnout represented approximately 82.86% to 82.89% of the paid-up share capital. Resolutions regarding the re-appointment of directors Mr. Sachit Jain and Mrs. Soumya Jain passed with 94.996% and 97.738% assent, respectively.

All 6 ordinary resolutions passed with requisite majorities ranging from 94.996% to 99.999%
Shareholder voting turnout stood at 82.86% to 82.89% of total paid-up share capital across resolutions
Dividend declaration (Resolution 3) approved with 99.999% assent (23,99,58,995 votes in favor)
Re-appointment of director Mr. Sachit Jain approved with 94.996% assent and 5.004% dissent

💡 Track subsequent filings for the formal corporate dividend payment timeline and Q2 FY27 earnings disclosures.

Vardhman Textiles Holds 53rd AGM; Puts Rs 5/Share Dividend to Vote

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 17 Sep 2026, 05:18 PM

Vardhman Textiles Limited conducted its 53rd Annual General Meeting on September 17, 2026, via video conferencing. Key ordinary business items tabled included the adoption of FY26 financial statements and approval of a dividend of Rs 5 per equity share. Other resolutions involved the reappointment of retiring directors Mr. Sachit Jain and Mrs. Soumya Jain, as well as cost auditor remuneration ratification. Final voting results will be disseminated within two working days.

53rd Annual General Meeting concluded on September 17, 2026, running from 10:00 a.m. to 10:21 a.m.
Proposed dividend of Rs 5 per equity share for the year ended March 31, 2026 put to vote
Remote e-voting was held from September 14, 2026 (09:00 a.m.) to September 16, 2026 (05:00 p.m.)
Final voting results to be disclosed within 2 working days

💡 Track the formal disclosure of the scrutinizer's report and voting results over the next two working days to confirm the formal adoption of all resolutions, including the dividend payout.

Vardhman Textiles Reports Dematerialization of 8,195 Equity Shares in August 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 09 Sep 2026, 10:51 AM

Vardhman Textiles Limited has submitted its monthly certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for August 2026. A total of 8,195 physical equity shares were confirmed dematerialized and cancelled during the month. Of these, 1,050 shares were processed via CDSL and 7,145 shares via NSDL. This is a purely administrative filing with negligible impact on the company's total equity base or financial performance.

A total of 8,195 equity shares were dematerialized during August 2026
Dematerialization via CDSL stood at 1,050 shares across 2 certificates
Dematerialization via NSDL stood at 7,145 shares across 7 certificates
Physical share certificates were verified, cancelled, and substituted with depository ownership

💡 No action is required as this is a recurring compliance disclosure. Investors should continue to monitor upcoming quarterly operational metrics and broader textile sector demand.

Vardhman Textiles Allots 1.01 Lakh Equity Shares Under ESOP Plan 2024

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 01 Sep 2026, 03:16 PM

Vardhman Textiles Limited has allotted 1,01,000 equity shares of face value Rs 2 each to eligible employees who exercised stock options under the Vardhman Textiles Limited Employee Stock Option Plan, 2024. The allotment was approved by the Committee of Directors at its meeting on September 1, 2026. The newly allotted shares will rank pari passu in all respects with the existing equity shares. At current market prices, this issuance represents a negligible dilution of under 0.04% of total outstanding equity.

Allotment of 1,01,000 equity shares of face value Rs. 2/- each pursuant to ESOP Plan 2024
Allotment approved at Committee meeting held on September 01, 2026 (2:30 p.m. to 3:00 p.m.)
Newly issued shares rank pari passu with existing equity shares in all respects

💡 No action is needed as this is a routine administrative share allotment resulting in immaterial equity dilution.

Vardhman Textiles Dispatches 53rd AGM Notice and FY26 Annual Report Links to Shareholders

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Aug 2026, 12:54 PM

Vardhman Textiles Limited has informed the exchanges regarding the dispatch of letters to shareholders whose email addresses are not registered with the company/DPs. The communication provides access links to the Annual Report for FY 2025-26 and the Notice of the 53rd Annual General Meeting. The AGM is scheduled to be held on Thursday, September 17, 2026, at 10:00 AM IST via video conferencing. The letter also serves as a reminder to update mandatory KYC details and dematerialize physical shares in compliance with SEBI circulars.

53rd Annual General Meeting scheduled for Thursday, September 17, 2026, at 10:00 AM IST via VC/OAVM
Notice and Annual Report for FY 2025-26 made available online for shareholders without registered emails
Reminds physical shareowners to complete KYC to prevent unpaid dividends from being retained in the Unpaid Dividend Account
Complies with Regulation 36(1)(b) of SEBI LODR Regulations, 2015

💡 Shareholders should note the AGM date on September 17, 2026, and physical shareholders must update their KYC details and register emails to receive corporate benefits directly.

Vardhman Textiles Submits BRSR for FY 2025-26; Exports Contribute 42% of Turnover

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Aug 2026, 07:52 PM

Vardhman Textiles Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26, forming part of its 53rd Annual Report. The company reported standalone turnover of ₹9,652.33 crore and a net worth of ₹10,187.73 crore. Textile manufacturing (yarn, fabric, and garments) contributed 99.59% of total turnover, with exports spanning 67 international countries accounting for 42% of turnover. The disclosures received reasonable assurance from Intertek India Pvt Ltd for BRSR Core indicators.

Exports accounted for 42% of entity turnover across 67 countries in FY 2025-26
Textile manufacturing (yarn, fabric, and garments) contributed 99.59% of turnover
Standalone turnover reported at ₹9,652.33 crore and net worth at ₹10,187.73 crore
Total workforce includes 3,636 employees and 24,556 workers, with 35% overall female participation
BRSR Core indicators received reasonable assurance from Intertek India Pvt Ltd

💡 This is a routine annual compliance filing. Investors should monitor quarterly financial performance and progress on announced capex projects rather than statutory ESG disclosures.

Vardhman Textiles Convenes 53rd AGM on Sep 17, 2026; Sets Sep 10 E-Voting Cut-Off

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 25 Aug 2026, 07:35 PM

Vardhman Textiles Limited has issued the notice for its 53rd Annual General Meeting (AGM) scheduled for September 17, 2026, via video conferencing. The company has fixed September 10, 2026, as the cut-off date to determine shareholder eligibility for remote e-voting, which runs from September 14 to September 16, 2026. Alongside the notice, the company submitted its Annual Report for FY 2025-26, highlighting FY26 revenue from operations of ₹9,652.33 crore and standalone net profit of ₹740.02 crore.

53rd AGM scheduled for Thursday, September 17, 2026, at 10:00 AM via VC/OAVM
Record/Cut-off date for e-voting eligibility fixed as September 10, 2026
Remote e-voting window opens September 14, 2026 (9:00 AM) and closes September 16, 2026 (5:00 PM)
FY26 standalone revenue from operations reported at ₹9,652.33 crore with an EBITDA margin of 15.48%
Standalone net profit for FY26 stood at ₹740.02 crore against a net worth of ₹10,187.73 crore

💡 Eligible shareholders holding shares as of September 10, 2026, can participate in remote e-voting or attend the AGM on September 17, 2026.

Vardhman Textiles Sets August 28, 2026 as Record Date for FY26 Dividend

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 20 Aug 2026, 05:26 PM

Vardhman Textiles Limited has fixed Friday, August 28, 2026, as the Record Date to determine shareholder eligibility for the dividend for FY ended March 31, 2026. The dividend is subject to approval by shareholders at the forthcoming Annual General Meeting (AGM). The Register of Members and Share Transfer Books will remain closed from August 29, 2026, to September 5, 2026. If declared, the dividend will be paid electronically within one week following the conclusion of the AGM.

Record Date fixed as Friday, 28-Aug-2026 for FY26 dividend entitlement
Book closure scheduled from 29-Aug-2026 to 05-Sep-2026 (both days inclusive)
Dividend payment timeline: within one week from the conclusion of the AGM upon approval

💡 Track the upcoming AGM proceedings for formal approval of the dividend amount and monitor account credit within a week following the AGM.

1,830 equity shares dematerialized in July 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Aug 2026, 10:14 AM

Vardhman Textiles Limited (VTL) has reported the dematerialization of 1,830 equity shares during the month of July 2026. This is a routine administrative filing pursuant to SEBI (Depositories and Participants) Regulations, 2018. The volume of shares converted from physical to electronic form is negligible relative to the company's market capitalization of Rs 17,258 Cr. There is no impact on the company's financial health or operational performance.

Total of 1,830 equity shares dematerialized during July 2026
Two batches of shares (735 and 1,095 units) were processed on July 16, 2026
Physical share certificates have been cancelled and substituted with the Depository as the Registered Owner
Filing complies with Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018

💡 No action is required as this is a standard procedural update regarding the conversion of physical shares to electronic format.

VTL Q1 FY27: Cotton Prices Align with Global Trends; ₹5,300 Cr Capex Underway

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 03 Aug 2026, 03:05 PM

Vardhman Textiles (VTL) reported improved margins in its spinning segment for Q1 FY27, driven by full capacity utilization and partial trading gains on raw materials. While the fabric segment faced temporary headwinds due to missed US sampling seasons, management expects a recovery in the next 2-3 months. The company is currently executing a massive ₹5,300-5,400 Cr capex program to diversify into nylon/polyester fabrics and expand its steel segment. Management anticipates a global cotton supply-demand gap over the next 1-2 years as production in China, Australia, and Brazil faces headwinds.

Indian cotton prices increased from ₹55,000 to ₹64,000 per candy, aligning with global New York futures.
VTL is executing a ₹5,300-5,400 Cr capex program, representing approximately 32% of its current market cap.
Australia's cotton crop is expected to drop to 3.5 million bales this year, with a further potential drop to 2.5 million bales next year.
The company added a new fabric line in March 2026, which is expected to reach full utilization as US orders recover.
VTL can now incorporate up to 30-40% recycled fiber with virgin fibers in its ring spinning process.

💡 Watch for the ramp-up in fabric segment utilization over the next quarter and the progress of the steel segment's 5,00,000 MT capacity expansion.

VTL Releases Q1 FY27 Earnings Call Recording; Management Discusses ₹5,400 Cr Capex Plan

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 31 Jul 2026, 05:46 PM

Vardhman Textiles Limited (VTL) has released the audio recording of its Q1 FY27 conference call held on July 31, 2026. The call follows the company's recent financial performance, where it maintains a TTM revenue of ₹9,869 Cr and an OPM of 12.5%. Investors can access the recording to gain insights into the execution of the ₹5,300-5,400 Cr capex program, which includes a 5,00,000 MT steel capacity addition. This is a standard transparency measure following quarterly results.

Audio recording of the Q1 FY27 conference call held on July 31, 2026, at 4:00 p.m. is now public.
Company is currently managing a massive ₹5,300-5,400 Cr capex program, representing ~29.7% of its market cap.
Steel segment (VSSL) remains a key focus with a planned 5,00,000 MT capacity addition to serve the automotive sector.
TTM revenue stands at ₹9,869 Cr with a net profit of ₹753 Cr as of the latest reporting cycle.
Cotton costs remain a critical factor, accounting for approximately 50% of yarn production costs.

💡 Investors should listen to the recording for management's commentary on cotton price trends and the specific commissioning timeline for the new nylon and polyester fabric lines.

VTL Q1 FY27 PAT up 41% YoY to ₹285 Cr; EBITDA Margins Expand to 19.4%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 30 Jul 2026, 04:47 PM

Vardhman Textiles (VTL) reported a strong Q1 FY27 with standalone revenue rising 13% YoY to ₹2,648 crore. Profitability saw a significant boost as EBITDA margins expanded by 295 bps YoY to 19.4%, leading to a 41% YoY increase in PAT to ₹285 crore. The company is aggressively pursuing a ₹3,660 crore capex program, which includes a newly approved ₹125 crore expansion to double garment capacity to 4.5 million shirts per annum by FY27. Despite a 6.9% dip in fabric production, yarn production grew 2% YoY, maintaining high capacity utilization.

Standalone Revenue increased 13% YoY to ₹2,648 crore in Q1 FY27.
EBITDA margins expanded to 19.4% from 16.5% YoY, a significant improvement of 295 basis points.
PAT grew 41% YoY to ₹285 crore, with EPS rising to ₹9.85 from ₹6.97.
Board approved ₹125 crore capex to expand garment capacity from 2.2 million to 4.5 million shirts per annum.
Total announced capex of ₹3,660 crore is underway, with yarn and fabric expansions partially completed in FY26.

💡 Watch for the stabilization of the 19%+ EBITDA margins in subsequent quarters and the execution timeline of the garment capacity doubling by the end of FY2026-27. Monitor cotton price trends as they constitute 50% of yarn costs and directly impact these improved margins.

View All VTL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue for FY25 reached INR 9,784.88 Cr, a 2.95% increase from INR 9,504.68 Cr in FY24. The textile segment contributes 82% of revenue, followed by steel at 15% and fibre at 3%. In Q2 FY26, revenue was INR 2,417 Cr, representing a 2% YoY decline from INR 2,455 Cr.

Geographic Revenue Split

Not explicitly disclosed in available documents, though the company notes susceptibility to demand slowdowns in China and benefits from rupee depreciation, indicating a significant export component.

Profitability Margins

Consolidated PAT for FY25 was INR 886.72 Cr, growing 39.27% from INR 636.70 Cr in FY24. PAT margin improved to 9.06% in FY25 from 6.70% in FY24. Q2 FY26 PAT margin stood at 7.7%, a 90 bps decline YoY.

EBITDA Margin

Consolidated EBITDA margin improved to 13.0-13.5% in FY25 from 10.6% in FY24, driven by better cotton-yarn spreads. Q2 FY26 EBITDA margin was 15.5%, down 110 bps from 16.6% in Q2 FY25.

Capital Expenditure

Total planned capex is INR 5,300-5,400 Cr over five fiscals. This includes INR 3,000 Cr for textile expansion (yarn, nylon, polyester fabric) and INR 2,300-2,350 Cr for the steel segment to add 5,00,000 MT capacity by fiscals 2028-30.

Credit Rating & Borrowing

Maintains a strong credit profile with a 'Stable' outlook. Interest coverage ratio is expected at 8.0-10.0 times for FY25, compared to 8.36 times in FY24. Total fund-based limits are INR 1,920 Cr with only 18% average utilization.

⚙️ Operational Drivers

Raw Materials

Cotton represents 50% of the total cost of yarn. Steel production requires sponge iron, manganese, and nickel.

Import Sources

The company imports significant quantities of cotton to manage costs and quality, though specific countries are not listed beyond general international demand/supply links.

Capacity Expansion

Steel capacity currently includes 2,00,000 TPA of billets and 1,80,000 TPA of rolled products, with a planned expansion of 5,00,000 MT in the steel segment. Acrylic fibre capacity is 21,000 TPA.

Raw Material Costs

Raw material management, particularly imported cotton, is a primary driver of margin resilience. Profitability is highly susceptible to cotton price volatility caused by monsoons or pest attacks.

Manufacturing Efficiency

Maintains healthy capacity utilization across textile and steel divisions. Steel segment operating margins improved from 2.4% in 2015 to 10% in 2024 through cost optimization.

📈 Strategic Growth

Expected Growth Rate

8-10%

Growth Strategy

Growth will be driven by a massive INR 5,300-5,400 Cr capex program. This includes expanding the yarn division, installing new nylon and polyester fabric lines, and a major 5,00,000 MT capacity addition in the steel segment to serve the automotive sector.

Products & Services

Cotton yarn, processed fabrics, acrylic fibre, special and alloy steel billets, and steel-rolled products.

Brand Portfolio

Vardhman, Arihant (Arihant Malerkotla unit mentioned).

New Products/Services

New product lines in nylon and polyester fabrics are being installed to diversify the textile portfolio beyond traditional cotton.

Market Expansion

Focusing on increasing market share in the special and alloy steel segment and digitizing existing textile facilities to improve global competitiveness.

Market Share & Ranking

The group holds a strong market position in the textile business but has a relatively smaller, though improving, market position in the steel business.

Strategic Alliances

Vardhman Yarns and Threads Limited (VYTL) is a joint venture, though VTXL has divested most of its stake and is now a minority shareholder.

🌍 External Factors

Industry Trends

The textile industry is shifting toward ESG compliance, with Vardhman positioning itself through high gender diversity (33.8% women workforce) and green energy investments. The steel industry is seeing steady demand from the automotive sector.

Competitive Landscape

Competes in a fragmented textile market and a specialized alloy steel market. Competitive advantage is derived from scale and integrated operations.

Competitive Moat

Moat is built on cost leadership through large-scale procurement, a diversified product portfolio (textiles, fibre, steel), and a robust financial profile with low gearing (0.19x).

Macro Economic Sensitivity

Highly sensitive to global cotton prices and domestic monsoon patterns. Rupee depreciation provides a compensatory advantage for export-related costs.

Consumer Behavior

Shift toward branded textile products over commodities is noted as a positive trend for margins.

Geopolitical Risks

Susceptible to government interventions and demand fluctuations in China, which have historically hit profitability.

⚖️ Regulatory & Governance

Industry Regulations

Complies with SEBI Listing Obligations and Disclosure Requirements (LODR) and the Companies Act 2013. No material orders from regulators impacted the going concern status.

Environmental Compliance

Textile production is noted for high water pollution impact (20% of global clean water pollution). The company is investing in green energy and ESG principles to ensure ease of raising capital.

Taxation Policy Impact

Effective tax rate for FY25 was approximately 24% (Current tax of INR 242.81 Cr on PBT of INR 1,168.24 Cr).

Legal Contingencies

No reportable material weaknesses in internal financial controls. No fraud reported by auditors. Specific values for pending court cases are not disclosed.