Vardhman Acrylics Ltd - Stock Valuation and Financial Performance

BSE: 0 | NSE: VARDHACRLC | Textile - Manmade Fibres | Small Cap

BSE Share Price
Not Listed

DeciZen - make an informed investing decision on Vardhman Acrylics

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Undervalued

3. Price Trend

Semi Strong

Vardhman Acrylics stock performance -

mw4me loader
P/E Ratio (SA):
25.22
Market Cap:
423.4 Cr.
52-wk low:
0
52-wk high:
0

Is Vardhman Acrylics Ltd an attractive stock to invest in?

1. Is Vardhman Acrylics Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Vardhman Acrylics Ltd is a good quality company.

2. Is Vardhman Acrylics Ltd undervalued or overvalued?

The key valuation ratios of Vardhman Acrylics Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Vardhman Acrylics Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Vardhman Acrylics Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Vardhman Acrylics:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Vardhman Acrylics Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 14.4%19.3%18.7%15.3%14.4%13.9%15.3%5.8%18.8%8.8%-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 498413337320392334280303427297258
Sales YoY Gr.--17.2%-18.3%-5.2%22.6%-14.7%-16.2%8.3%40.7%-30.3%-
Adj EPS 3.12.93.843.84.35.11.13.41.62.1
YoY Gr.--8%30.1%7.5%-7.2%13.3%20.7%-78.6%211.8%-54.5%-
BVPS (₹) 34.634.236.839.741.544.249.626.430.530.231
Adj Net
Profit
29.226.930.332.430.134.241.28.827.612.517
Cash Flow from Ops. 55.423.242.22.925.54.239.5-9.438.57.6-
Debt/CF from Ops. 0000.500.30-0.300.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -5.6%-5.4%2%-30.3%
Adj EPS -7.5%-16.1%-32.8%-54.5%
BVPS-1.5%-6.2%-15.2%-1%
Share Price - 9.3% 1.7% -12.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
9.48.49.910.69.29.910.92.912.15.16.8
Op. Profit
Mgn %
6.910.711.39.97.1817.22.98.54.54.8
Net Profit
Mgn %
5.96.5910.27.710.214.72.96.54.26.5
Debt to
Equity
00000000000
Working Cap
Days
122146193237215269314308233340109
Cash Conv.
Cycle
103112021151945305262

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 6.80%

Sales growth has been subdued in last 3 years 2.02%

Net Profit has been subdued in last 3 years -32.75%

Sales growth is not so good in last 4 quarters at -26.40%

Latest Financials - Vardhman Acrylics Ltd.

Standalone Consolidated
TTM EPS (₹) 2.1 -
TTM Sales (₹ Cr.) 258 -
BVPS (₹.) 31 -
Reserves (₹ Cr.) 169 -
P/BV 1.70 -
PE 25.22 -
From the Market
52 Week Low / High (₹) 0.00 / 0.00
All Time Low / High (₹) - / -
Market Cap (₹ Cr.) 423
Equity (₹ Cr.) 80.4
Face Value (₹) 10
Industry PE 23.2

Management X-Ray of Vardhman Acrylics:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Vardhman Acrylics

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales498413337320392334280303427297
Operating Expenses 465368300288364308233294391284
Manufacturing Costs37363533363732347354
Material Costs403308236226298240169231283193
Employee Cost 11121414151616161820
Other Costs 13121415161515131716
Operating Profit 3444383128274893613
Operating Profit Margin (%) 6.7%10.7%11.1%9.8%7.1%8.0%17.0%2.9%8.5%4.5%
Other Income 16222521252715141314
Interest 0001001000
Depreciation 5455555556
Exceptional Items 0000000000
Profit Before Tax 45625747474857174321
Tax 1121168122143104
Profit After Tax 33414139344643153318
PAT Margin (%) 6.7%9.9%12.2%12.1%8.8%13.8%15.3%4.8%7.7%5.9%
Adjusted EPS (₹)3.64.45.14.84.35.85.31.84.12.2
Dividend Payout Ratio (%)28%114%29%42%58%0%0%1,380%61%92%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 321318295319334355398212245243
Share Capital 93938080808080808080
Reserves 228225215239253275318132165163
Minority Interest0000000000
Debt1111110301
Long Term Debt0000000000
Short Term Debt1111110301
Trade Payables66316541695441475443
Others Liabilities 130148165171182183199202215218
Total Liabilities 518498526532585594639464515505

Fixed Assets

Gross Block2452356768718888919499
Accumulated Depreciation172173914192430353944
Net Fixed Assets72615855526459565456
CWIP 2000000040
Investments 263256248260284160232134172169
Inventories70527952766064778375
Trade Receivables12520161015111316
Cash Equivalents 31942125102544
Others Assets107125126141155175167182184186
Total Assets 518498526532585594639464515505

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 552342326439-9398
PBT 45625747474857174321
Adjustment -11-17-20-15-15-20-9-7-2-6
Changes in Working Capital 34-76-126-155-128-2
Tax Paid -13-14-1-16-12-9-13-8-10-5
Cash Flow From Investing Activity -5843307-880-83190-3712
Capex -5-3-1-2-2-6-1-3-8-3
Net Investments -6144285-8144-64107-3015
Others 92332-58-188510
Cash Flow From Financing Activity -1-68-63-15-20-24-1-198-3-20
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid 000-1000000
Dividend Paid 0-560-12-16-200-2000-20
Others -1-12-63-2-4-3-12-21
Net Cash Flow -3-28-5-261-44-17-10
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)10.7412.7613.4112.5510.5613.4311.394.7714.367.18
ROCE (%)14.3819.2818.7115.3414.413.9315.265.8118.838.84
Asset Turnover Ratio1.110.880.720.620.70.570.460.550.880.59
PAT to CFO Conversion(x)1.670.561.020.080.760.090.91-0.61.180.44
Working Capital Days
Receivable Days41414171416151018
Inventory Days50506574607580846896
Payable Days505874856794103706692

Vardhman Acrylics Ltd Stock News

Vardhman Acrylics Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Vardhman Acrylics on 01-Jan-1970 05:30 is ₹0.00.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 01-Jan-1970 05:30 the market cap of Vardhman Acrylics stood at ₹423.4.
The latest P/E ratio of Vardhman Acrylics as of 01-Jan-1970 05:30 is 25.22.
The latest P/B ratio of Vardhman Acrylics as of 01-Jan-1970 05:30 is 1.70.
The 52-week high of Vardhman Acrylics is ₹0.00 and the 52-week low is ₹0.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Vardhman Acrylics is ₹257.9 ( Cr.) .

About Vardhman Acrylics Ltd

Vardhman Group ventured into the manufacture of Acrylic Fiber/Tow in 1999. The joint venture, Vardhman Acrylics (VAL) was set up together with two leading Japanese business houses namely Japan Exlan Co. a part of Toyobo Group of Japan and Marubeni Corporation Japan. Japan Exlan Co. Ltd. is a pioneer in manufacturing of Acrylic Fibre while Marubeni Corporation is trading houses in the world, with over 200 representative offices & more than 650 affiliated companies in 90 countries.

Today VAL is an important acrylic fibre producer and its state-of-the-art Wet Spun technology, highly automated and microprocessor controlled plant with distributed Controlled Systems, is one of the most sophisticated acrylic fibre plant in the world producing consistently superior quality fibre.

Vardhman is a major integrated textile producer in India. The group was set up in 1965 at Ludhiana, Northern India. Since then, the group has expanded manifold and is today, perhaps, the largest textile conglomerate in India.

The group portfolio includes manufacturing and marketing of Yarns, Fabrics, Sewing Threads, Fibre and Alloy Steel. The company has set up a 18000 TPA Acrylic Staple Fibre and tow production plant at Jhagadia, Distt. Bharuch in the state of Gujarat, India.

The world class wet spun technology for the manufacture of acrylic fiber / tow has been sourced from Japan Exlan Co. Japan. It is a state of the art, highly automated production facility making it amongst the most advanced plants of its type in the world.

VARLAN fibre has achieved a high order of recognition in Indian market for use in a very wide variety of applications like hand knitting yarns; machine knitting yarns for jerseys, sweaters etc.; sarees; dress materials; upholstery; furnishings; velvets; blankets; carpets and many more. The endeavors for developing newer and exciting applications of VARLAN fibre continue in close association with the users.

Product range of the company includes:

  • Acrylic Bright & Semi-dull Non shrinkable fibre in 1.2,1.5,2,3,5,7,10,15 deniers in a wide range of cut lenghts.
  • Acrylic Bright & Semi-dull Shrinkable fibre with different shrinkage levels in 2,3,5 deniers in a wide range of cut lengths
  • Acrylic Tow endless Bright & Semi dull in 2,3 denier.
  • Specialty acrylic fibres suitable for Open end spinning; Soft handle, Water absorbent applications etc.
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