Vardhman Holdings Ltd(VHL)

NSE: VHLBSE: 500439

₹ 3,349.9-6.92%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 1,069 crWebsite: www.vardhman.comUpdated: 24 Oct 2026

About

Vardhman Holdings Ltd is a non-banking financial company (NBFC) operating solely in the investment business, with its primary economic exposure through its associate Vardhman Textiles Limited (VTXL). The company reported a standalone PAT of Rs. 216.01 crore in FY26 against revenue of Rs. 12.25 crore, reflecting income largely from investment holdings rather than operations. It carries no debt and is regulated by the RBI, SEBI, and MCA.^[1][2][3]

Business segment

The company operates a single reportable segment - Investment Business - as determined by the CODM, who evaluates performance as a single unit with no segment diversification.^[2][3]
VHL is classified as an NBFC and is prone to financial risks and capital market fluctuations, with its portfolio spanning debt, equity, and real estate asset classes.^[3]

Investment strategy

The company's stated strategy is a systematic approach to investing across debt, equity, and real estate, keeping the portfolio dynamic in line with changing market conditions.^[3]

Associate company - Vardhman Textiles (VTXL)

Associate VTXL reported consolidated revenue from operations of Rs. 9,869.05 crore in FY26, compared with Rs. 9,784.88 crore in FY25.^[3]
VTXL's consolidated net profit after comprehensive income was Rs. 757.47 crore in FY26, down from Rs. 887.56 crore in FY25.^[3]
VHL receives royalty from VTXL; the amount proposed for FY 2026-27 is Rs. 1.97 crore (excluding taxes), which exceeds 10% of VHL's consolidated turnover and requires shareholder approval.^[3]

Key operating numbers

Standalone Return on Net Worth improved to 4.11% in FY26 from 3.91% in FY25, attributable to an increase in net profits.^[3]
Capital to Risk-Weighted Assets Ratio (CRAR) stood at 50.91% in FY25, up from 39.50% in FY24, driven by an increase in short-term investments.^[2]
Liquidity Coverage Ratio was 264.00 times in FY25, compared with 153.77 times in FY24, also driven by growth in short-term investments.^[2]

Capital structure

The company carries no borrowings and maintains a zero-debt capital structure; debt-equity ratio metrics are not applicable.^[2]

Recent developments

The Board recommended a dividend of Rs. 5 per equity share for FY26, consistent with the Rs. 5 per share paid in FY25, subject to shareholder approval.^[3][2]
No penalties were imposed by the RBI or other regulators during FY25 or FY24.^[2]

Market Cap

₹1,069 Cr

High / Low

₹4,290 / 2,870

Stock P/E

4.7

Price / Book

0.3

Book Value

₹11,799

EPS

₹676.8

No. of Shares

0.32 Cr

ROCE

6.3%

ROE

5.9%

Sales

₹12 Cr

Net Profit

₹216 Cr

Promoter holding

74.9%

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Signal history

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