Vardhman Holdings Ltd
Finance | Small Cap
Vardhman Holdings Ltd, operating in the Financial Services (Non-Bank Finance) sector, exhibits a mixed financial performance. The company shows strong solvency, driven by a high-interest coverage ratio and minimal debt. Asset growth and operating profit growth rate also contribute positively. However, the company struggles with revenue, EPS, and net income growth, all experiencing significant declines. Profitability metrics, such as gross profit margin, ROCE, ROE, ROA, and net margin, are notably low, indicating challenges in translating operations into profits. The company's liquidity position is also concerning, which needs to be addressed for better financial health. Overall, while the company demonstrates strengths in certain areas, improvements in revenue generation and profitability are crucial for sustained financial stability.
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- Valuation MetricsNeutral
- Market Metrics
- Stock Reports
- Stock News
- Growth Ratio4.00
- Financial Ratio5.20
- Profitability Ratio3.20
- Efficiency Ratio6.00
- Coverage Ratio2.00
- Solvency Ratio10.00
- Liquidity Ratio0.00
- Peer Assessment
- Management AssessmentBalanced
- Risk AssessmentBalanced
- 1 HourBullish
- 2 HoursBullish
- 4 HoursBullish
- 1 DayBullish
- 1 WeekNeutral
- 1 MonthNeutral
Vardhman Holdings Ltd, operating in the Financial Services (Non-Bank Finance) sector, exhibits a mixed financial performance. The company shows strong solvency, driven by a high-interest coverage ratio and minimal debt. Asset growth and operating profit growth rate also contribute positively. However, the company struggles with revenue, EPS, and net income growth, all experiencing significant declines. Profitability metrics, such as gross profit margin, ROCE, ROE, ROA, and net margin, are notably low, indicating challenges in translating operations into profits. The company's liquidity position is also concerning, which needs to be addressed for better financial health. Overall, while the company demonstrates strengths in certain areas, improvements in revenue generation and profitability are crucial for sustained financial stability.
Overall Valuation Score
P/E RATIO (TTM)
4.33
Industry Median
24.32
Small Cap Median
21.88
P/E RATIO
4.10
P/B RATIO
0.28
Industry Median
3.12
Small Cap Median
2.69
P/S RATIO
46.07
Industry Median
1.84
Small Cap Median
1.82
Others
PEG RATIO
0.41
EV/EBITDA RATIO
3.88
The Calculations Shown Above Are Based on the Last Traded Price (LTP) of ₹3311.5 as on Feb 20, 2026.
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The company's growth ratios paint a conflicting picture. While asset growth and operating profit growth rate are strong, significant declines in revenue, EPS, and net income growth raise concerns about the sustainability of the company's overall growth trajectory.
| Growth Ratios | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Revenue Growth Rate | 66.67 | 65 | -81.82 | 150 | 53.33 |
| Operating Profit Growth Rate | 157.14 | 66.67 | -93.33 | 450 | 54.55 |
| Earnings Per Share (EPS) Growth | -18.91 | 231.31 | -46.76 | -19.06 | 39.55 |
| Asset Growth Rate | N/A | 20.42 | 11.63 | 6.35 | 7.37 |
| Net Income Growth Rate | -18.75 | 230 | -46.85 | -18.86 | 39.46 |
Revenue Growth Rate
Operating Profit Growth Rate
Earnings Per Share (EPS) Growth
Asset Growth Rate
Net Income Growth Rate
The company's financial ratios present a mixed outlook. While 'Book Value Per Share' and 'Capital Expenditures (CapEx)' indicate financial strengths, low 'Adjusted Earnings Per Share (Adjusted EPS)' and 'Cash Earnings Per Share (Cash EPS)' raise concerns. The 'Dividend Per Share (DPS)' suggests some returns to shareholders but highlights the need for improved earnings performance.
| Financial Ratios | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Adjusted Earnings Per Share (Adjusted EPS) | 433.33 | 1430 | 760 | 616.67 | 860 |
| Cash Earnings Per Share (Cash EPS) | 433.33 | 1430 | 760 | 616.67 | 860 |
| Book Value Per Share | 7686.67 | 9256.67 | 10330 | 10990 | 11800 |
| Dividend Per Share (DPS) | 4.06 | 0 | 7.16 | 5.79 | 8.08 |
| Capital Expenditures (CapEx) | 0 | 0 | 0 | 0 | 0 |
Adjusted Earnings Per Share (Adjusted EPS)
Cash Earnings Per Share (Cash EPS)
Book Value Per Share
Dividend Per Share (DPS)
Capital Expenditures (CapEx)
The company's profitability ratios are generally low, indicating challenges in generating profits from its operations. While the Operating Margin stands out, overall profitability is hindered by low scores across various metrics, suggesting potential inefficiencies in cost management and revenue generation.
| Profitability Ratios | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Gross Profit Margin | 90 | 90.91 | 33.33 | 73.33 | 73.91 |
| Return on Capital Employed (ROCE) | 5.77 | 16.53 | 7.26 | 5.88 | 7.71 |
| Return on Equity (ROE) | 5.64 | 15.45 | 7.36 | 5.61 | 7.29 |
| Return on Assets (ROA) | 0.78 | 1.08 | 0.06 | 0.33 | 0.48 |
| Operating Margin | 90 | 90.91 | 33.33 | 73.33 | 73.91 |
| Net Margin | 650 | 1300 | 3800 | 1233.33 | 1121.74 |
Gross Profit Margin
Return on Capital Employed (ROCE)
Return on Equity (ROE)
Return on Assets (ROA)
Operating Margin
Net Margin
The company's efficiency ratios present a mixed view. High scores for 'Days Sales in Inventory Ratio' and 'Receivable Days' are offset by low scores for 'Inventory Turnover Ratio' and 'Receivables Turnover Ratio'. This suggests challenges in efficiently managing inventory and receivables, impacting overall operational efficiency.
| Efficiency Ratios | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Fixed Asset Turnover Ratio | 6.67 | 11 | 2 | 5 | 7.67 |
| Inventory Turnover Ratio | N/A | N/A | N/A | N/A | N/A |
| Receivables Turnover Ratio | N/A | N/A | N/A | N/A | N/A |
| Days Sales in Inventory Ratio | N/A | N/A | N/A | N/A | N/A |
| Receivable Days | N/A | N/A | N/A | N/A | N/A |
| Capital Turnover Ratio | 0.01 | 0.01 | 0 | 0 | 0.01 |
Inventory Turnover Ratio
Receivables Turnover Ratio
Days Sales in Inventory Ratio
Receivable Days
The company's coverage ratio, particularly the 'Interest Coverage Ratio', is concerning. This suggests that the company may face challenges in meeting its interest obligations, indicating potential financial stress.
| Coverage Ratios | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Interest Coverage Ratio | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity Dividend Coverage Ratio | N/A | 100 | N/A | 100 | 100 | 100 |
Interest Coverage Ratio
The company's strong solvency is highlighted by its minimal debt levels and a high-interest coverage ratio. This suggests a strong ability to meet its long-term financial obligations, indicating financial stability. This indicates that the company has financial stability to pay off debts.
| Solvency Ratios | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Debt Ratio | 0 | 0 | 0 | 0 | 0 |
| Debt to Equity Ratio | 0 | 0 | 0 | 0 | 0 |
| Equity Ratio | 1 | 1 | 1 | 1 | 1 |
| Debt To Asset Ratio | 0 | 0 | 0 | 0 | 0 |
Debt Ratio
Debt to Equity Ratio
Interest Coverage Ratio
The company's liquidity ratios, show that the company doesn't have enough liquid assets to cover its short-term liabilities. This indicates a potential risk in meeting immediate financial obligations.
| Liquidity Ratios | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Current Ratio | 68.5 | 36 | 32 | 25 | 10 |
| Quick Ratio | 68.5 | 36 | 32 | 25 | 10 |
| Cash Ratio | 38.24 | 2.74 | 4.01 | 3.83 | 1.52 |
| Operating Cash Flow Ratio | 41 | -5 | 1 | -3 | -6 |
Current Ratio
Quick Ratio
Cash Ratio
Peer Comparison empowers investors to evaluate a company against its industry peers using key financial metrics like P/E ratio, EPS, and profit margins. It helps identify whether a company is overvalued, undervalued, or performing in line with competitors. Investors can use this data to spot opportunities, assess risks, and make informed decisions. This contextual view adds depth beyond standalone company analysis.
| NO | Company Name | Health Score | P/E Ratio | Valuation | OPM | EPS | Latest Profit & Loss |
|---|---|---|---|---|---|---|---|
| 1 | Vardhman Holdings Ltd | 4.70 | 4.10 | Neutral | 17.00 | 115.34 | 258.00 |
The management effectiveness of Vardhman Holdings Ltd presents a mixed picture. A strong promoter holding and a debt-free balance sheet signal stability and prudent financial management. However, declining sales growth and fluctuating profitability raise concerns. While the company maintains high operating profit margins, reliance on other income and inconsistent quarterly performance suggest potential operational inefficiencies. Overall, the company exhibits strengths in ownership structure and financial prudence, but needs to address growth challenges to improve management effectiveness.
| Category | Metric | Value | Assessment |
|---|---|---|---|
| PROS | Promoter Holding | 74.90% | High promoter holding indicates confidence |
| Debt Management | 0 | Debt-free status reflects financial prudence | |
| CONS | Sales Growth (TTM) | -38% | Declining sales growth is a concern |
| OPM Volatility | Fluctuating Quarterly | Quarterly OPM fluctuates indicating inconsistency |
Financial Performance & Growth
Vardhman Holdings exhibits mixed financial performance. While historical sales growth was decent, the recent TTM sales growth has declined. Profit growth has been inconsistent, and the company relies heavily on other income.
| Metric | 2016-2018 | 2019-2021 | 2022-2024 | TTM |
|---|---|---|---|---|
| Compounded Sales Growth | 35.0% | 13.7% | -1.3% | -38% |
| Compounded Profit Growth | - | - | - | 27% |
The company's reliance on 'Other Income' to bolster its 'Profit before tax' is notable. For example, in March 2022, 'Other Income' was ₹429, significantly contributing to the 'Profit before tax' of ₹459. This reliance indicates that core operations may not be the primary driver of profitability.
Capital Efficiency & Returns
The capital efficiency and returns for Vardhman Holdings are moderate. The ROCE and ROE are not very high, suggesting that capital isn't being utilized very productively.
| Metric | Mar 2017 | Mar 2019 | Mar 2021 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|
| ROCE % | 22% | 11% | 6% | 8% | 6% |
Financial Health & Prudence
Vardhman Holdings demonstrates strong financial health and prudence. The company operates with zero debt, as reflected in 'Borrowings,' which are consistently '0' across all periods. This risk free capital structure minimizes financial risk and enhances its stability. The company has also maintained a consistent dividend payout.
| Metric | Mar 2017 | Mar 2019 | Mar 2021 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|
| Debt/Equity Ratio | 0 | 0 | 0 | 0 | 0 |
Shareholding & Ownership Structure
Vardhman Holdings has a very strong and stable ownership structure. The promoter holding is consistently high at 74.90% from Dec 2021 to Sep 2024, indicating strong confidence from the company's promoters. The FII holding is negligible, and DII holding is very minimal, this is reflecting the company’s ownership concentration.
| Metric | Mar 2017 | Mar 2019 | Mar 2021 | Mar 2023 | Sep 2024 |
|---|---|---|---|---|---|
| Promoter Holding | 74.90% | 74.90% | 74.90% | 74.90% | 74.90% |
The risk assessment for Vardhman Holdings indicates a moderate level of risk. The company's debt-free status and high promoter holding provide stability. However, there are potential risks associated with fluctuating sales and profit growth. Reliance on other income also poses a risk if those sources become unreliable. Effective management of these factors is crucial for maintaining a stable risk profile.
Segment performance volatility
The quarterly results of Vardhman Holdings show volatility in sales and operating profit. This fluctuation can affect overall financial stability and investor confidence.
| Metric | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|
| Sales + | 14 | 6 | 2 | -5 | 30 | 0 | 7 |
| Operating Profit | 14 | 5 | 1 | -7 | 30 | -3 | 5 |
Accounting quality red flags
Vardhman Holdings consistently shows significant 'Other Income,' contributing substantially to the 'Profit before tax.' While not inherently a red flag, a high proportion of other income relative to operating profit warrants scrutiny. It's important to understand the sources and stability of this income.
Foreign exchange or interest rate exposure
Given that Vardhman Holdings has zero debt and no interest payments, it is not exposed to interest rate risks. The company's financial statements do not provide specific information about foreign exchange exposure; further analysis would be needed to determine if this is a relevant risk.
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Overall Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Bullish
Market Sentiment
Analysis Driven By 26 Technical Indicators From The 1 Hour Timeframe
Trend Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Strong Bullish
Momentum Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
Volatility Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Bearish
Volume Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
- IndicatorValueSignal
- SMA 103620.56Bullish
- SMA 203563.90Bullish
- SMA 503485.70Bullish
- EMA 103619.53Bullish
- EMA 203579.58Bullish
- EMA 503514.58Bullish
- DEMA 103661.93Bullish
- DEMA 203643.00Bullish
- DEMA 503580.46Bullish
- TEMA 103667.41Bullish
- TEMA 203663.45Bullish
- TEMA 503627.43Bullish
- MACD48.97Bullish
- ADX27.46Strong Trend
- IndicatorValueSignal
- RSI73.46Overbought
- CCI117.50Overbought
- ROC 93.96Bullish
- ROC 145.33Bullish
- ROC 255.10Bullish
- Stoch K90.76Overbought
- Stoch D88.93Overbought
- IndicatorValueSignal
- BB Upper3695.64Neutral
- BB Middle3563.89Neutral
- BB Lower3432.15Neutral
- ATR29.77High Volatility
- IndicatorValueSignal
- MFI71.51Neutral
Overall Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Bullish
Market Sentiment
Analysis Driven By 26 Technical Indicators From The 2 Hours Timeframe
Trend Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Strong Bullish
Momentum Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
Volatility Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
Volume Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Strong Bearish
- IndicatorValueSignal
- SMA 103582.85Bullish
- SMA 203529.82Bullish
- SMA 503449.84Bullish
- EMA 103596.68Bullish
- EMA 203545.23Bullish
- EMA 503485.99Bullish
- DEMA 103657.46Bullish
- DEMA 203618.78Bullish
- DEMA 503527.07Bullish
- TEMA 103673.82Bullish
- TEMA 203655.32Bullish
- TEMA 503575.78Bullish
- MACD58.68Bullish
- ADX19.52Weak Trend
- IndicatorValueSignal
- RSI72.48Overbought
- CCI148.02Overbought
- ROC 95.91Bullish
- ROC 145.10Bullish
- ROC 258.57Bullish
- Stoch K92.24Overbought
- Stoch D92.45Overbought
- IndicatorValueSignal
- BB Upper3674.87Overbought
- BB Middle3529.83Neutral
- BB Lower3384.78Neutral
- ATR45.48Low Volatility
- IndicatorValueSignal
- MFI89.13Overbought
Overall Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Bullish
Market Sentiment
Analysis Driven By 26 Technical Indicators From The 4 Hours Timeframe
Trend Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Strong Bullish
Momentum Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
Volatility Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
Volume Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Strong Bearish
- IndicatorValueSignal
- SMA 103537.17Bullish
- SMA 203461.36Bullish
- SMA 503451.54Bullish
- EMA 103550.34Bullish
- EMA 203499.46Bullish
- EMA 503464.41Bullish
- DEMA 103622.98Bullish
- DEMA 203555.26Bullish
- DEMA 503503.68Bullish
- TEMA 103655.97Bullish
- TEMA 203609.18Bullish
- TEMA 50N/AN/A
- MACD49.48Bullish
- ADX23.21Weak Trend
- IndicatorValueSignal
- RSI73.67Overbought
- CCI196.96Overbought
- ROC 95.94Bullish
- ROC 1410.16Bullish
- ROC 259.14Bullish
- Stoch K95.65Overbought
- Stoch D93.52Overbought
- IndicatorValueSignal
- BB Upper3645.34Overbought
- BB Middle3461.36Neutral
- BB Lower3277.39Neutral
- ATR69.47Low Volatility
- IndicatorValueSignal
- MFI86.07Overbought
Overall Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Bullish
Market Sentiment
Analysis Driven By 33 Technical Indicators From The 1 Day Timeframe
Trend Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Strong Bullish
Momentum Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
Volatility Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Bearish
Volume Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
- IndicatorValueSignal
- SMA 103436.63Bullish
- SMA 203425.52Bullish
- SMA 503445.44Bullish
- SMA 1003334.70Bullish
- SMA 2003548.57Bullish
- EMA 103462.53Bullish
- EMA 203448.97Bullish
- EMA 503424.65Bullish
- EMA 1003429.18Bullish
- EMA 2003513.58Bullish
- DEMA 103495.67Bullish
- DEMA 203459.01Bullish
- DEMA 503458.11Bullish
- DEMA 1003364.25Bullish
- DEMA 2003361.23Bullish
- TEMA 103534.20Bullish
- TEMA 203459.33Bullish
- TEMA 503497.29Bullish
- TEMA 1003429.26Bullish
- TEMA 2003277.25Bullish
- MACD11.44Bullish
- ADX15.81Weak Trend
- IndicatorValueSignal
- RSI64.69Neutral
- CCI259.53Overbought
- ROC 144.60Bullish
- ROC 250.00Bullish
- Stoch K77.73Neutral
- Stoch D73.03Neutral
- IndicatorValueSignal
- BB Upper3540.21Overbought
- BB Middle3425.52Neutral
- BB Lower3310.83Neutral
- ATR108.70High Volatility
- IndicatorValueSignal
- MFI54.27Neutral
Overall Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
Market Sentiment
Analysis Driven By 21 Technical Indicators From The 1 Week Timeframe
Trend Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
Momentum Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
Volatility Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Bullish
Volume Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
- IndicatorValueSignal
- SMA 203329.12Bullish
- SMA 503617.69Bearish
- EMA 203409.46Bearish
- EMA 503530.02Bearish
- DEMA 203345.59Bullish
- DEMA 503388.28Bullish
- TEMA 203404.27Bearish
- TEMA 503255.33Bullish
- MACD-35.09Bullish
- ADX19.13Weak Trend
- IndicatorValueSignal
- RSI46.84Neutral
- CCI-57.56Neutral
- ROC 144.43Bullish
- ROC 25-5.24Bearish
- Stoch K57.87Neutral
- Stoch D60.99Neutral
- IndicatorValueSignal
- BB Upper3590.36Neutral
- BB Middle3329.12Neutral
- BB Lower3067.88Neutral
- ATR223.75Low Volatility
- IndicatorValueSignal
- MFI60.60Neutral
Overall Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
Market Sentiment
Analysis Driven By 25 Technical Indicators From The 1 Month Timeframe
Trend Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
Momentum Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
Volatility Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Bullish
Volume Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
- IndicatorValueSignal
- SMA 63327.97Bullish
- SMA 123621.32Bearish
- SMA 243787.83Bearish
- EMA 63399.29Bullish
- EMA 123508.21Bearish
- EMA 243537.39Bearish
- DEMA 63293.32Bullish
- DEMA 123374.57Bullish
- DEMA 243630.93Bearish
- TEMA 63312.62Bullish
- TEMA 123242.06Bullish
- TEMA 243453.79Bearish
- MACD181.31Bearish
- ADX19.71Weak Trend
- IndicatorValueSignal
- RSI50.77Neutral
- CCI19.02Neutral
- ROC 2512.47Bullish
- ROC 50-5.10Bearish
- Stoch K31.09Neutral
- Stoch D43.36Neutral
- IndicatorValueSignal
- BB Upper4636.99Neutral
- BB Middle3717.46Neutral
- BB Lower2797.92Neutral
- ATR608.12Low Volatility
- IndicatorValueSignal
- MFI68.80Neutral