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Vardhman Textiles Limited, together with its subsidiaries, manufacturing, purchases, and sells textiles in India. The last earnings update was 16 days ago. More info.
7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
---|---|---|---|---|---|---|
Vardhman Textiles (502986) | -2.3% | -9.2% | -7.8% | -28.4% | 31.5% | 182.4% |
IN Luxury | -1.5% | -1.2% | -2.7% | -8.5% | 54.7% | 184.5% |
IN Market | -0.1% | -3.2% | -1.7% | -7.5% | 46.6% | 79.6% |
Below are the data sources, inputs and calculation used to determine the intrinsic value for Vardhman Textiles.
Data Point | Source | Value |
---|---|---|
Valuation Model | 2 Stage Free Cash Flow to Equity | |
Levered Free Cash Flow | Average of 4 Analyst Estimates (S&P Global) | See below |
Discount Rate (Cost of Equity) | See below | 13.5% |
Perpetual Growth Rate | 10-Year IN Government Bond Rate | 7.6% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
Data Point | Calculation/ Source | Result |
---|---|---|
Risk-Free Rate | 10-Year IN Govt Bond Rate | 7.6% |
Equity Risk Premium | S&P Global | 7.5% |
Luxury Unlevered Beta | Simply Wall St/ S&P Global | 0.57 |
Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.573 (1 + (1- 35%) (24.59%)) |
0.665 |
Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.8 |
Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.8 * 7.45%) |
13.51% |
Discounted Cash Flow Calculation for BSE:502986 using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Vardhman Textiles is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.
2019 | 2020 | 2021 | 2022 | 2023 | |
Levered FCF (INR, Millions) | -3,261.00 | 2,436.50 | 5,977.50 | 5,937.73 | 5,898.23 |
Source | Analyst x1 | Analyst x2 | Analyst x2 | Est @ -0.67% | Est @ -0.67% |
Present Value Discounted (@ 13.51%) |
-2,872.87 | 1,891.03 | 4,087.12 | 3,576.71 | 3,130.05 |
Present value of next 5 years cash flows | ₹9,812.03 |
Calculation | Result | |
---|---|---|
Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= ₹5,898.23 × (1 + 7.55%) ÷ (13.51% – 7.55%) |
₹106,435.31 |
Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= ₹106,435.31 ÷ (1 + 13.51%)5 |
₹56,482.66 |
Calculation | Result | |
---|---|---|
Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= ₹9,812.03 + ₹56,482.66 |
₹66,294.69 |
Equity Value per Share (INR) |
= Total value / Shares Outstanding
= ₹66,294.69 / 56.47 |
₹1173.88 |
Calculation | Result | |
---|---|---|
Value per share (INR) | From above. | ₹1,173.88 |
Current discount | Discount to share price of
₹976.55
= -1 x (₹976.55 - ₹1,173.88) / ₹1,173.88 |
16.8% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Data Point | Source | Value |
---|---|---|
Earnings Per Share * | Company Filings (2018-12-31) in INR | ₹126.68 |
BSE:502986 Share Price ** | BSE (2019-02-22) in INR | ₹976.55 |
India Luxury Industry PE Ratio | Median Figure of 236 Publicly-Listed Luxury Companies | 11.68x |
India Market PE Ratio | Median Figure of 2,709 Publicly-Listed Companies | 15.3x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Vardhman Textiles.
Calculation | Outcome | |
---|---|---|
PE Ratio | = BSE:502986 Share Price ÷ EPS (both in INR) = 976.55 ÷ 126.68 |
7.71x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value |
---|---|---|
PE Ratio | See PE Ratio Section | 7.71x |
Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts |
7.8%per year |
India Luxury Industry PEG Ratio | Median Figure of 27 Publicly-Listed Luxury Companies | 0.97x |
India Market PEG Ratio | Median Figure of 604 Publicly-Listed Companies | 1.15x |
*Line of best fit is calculated by linear regression .
Calculation | Outcome | |
---|---|---|
PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 7.71x ÷ 7.8% |
0.99x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value |
---|---|---|
Book Value per Share | Company Filings (2018-12-31) in INR | ₹922.24 |
BSE:502986 Share Price * | BSE (2019-02-22) in INR | ₹976.55 |
India Luxury Industry PB Ratio | Median Figure of 306 Publicly-Listed Luxury Companies | 0.71x |
India Market PB Ratio | Median Figure of 3,588 Publicly-Listed Companies | 1.04x |
Calculation | Outcome | |
---|---|---|
PB Ratio | = BSE:502986 Share Price ÷ Book Value per Share (both in INR) = 976.55 ÷ 922.24 |
1.06x |
* Primary Listing of Vardhman Textiles.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value (per year) |
---|---|---|
BSE:502986 Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts | 7.8% |
BSE:502986 Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts | 7.6% |
India Luxury Industry Earnings Growth Rate | Market Cap Weighted Average | 18.3% |
India Luxury Industry Revenue Growth Rate | Market Cap Weighted Average | 15% |
India Market Earnings Growth Rate | Market Cap Weighted Average | 18.5% |
India Market Revenue Growth Rate | Market Cap Weighted Average | 11.7% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Data Point | Source | Value |
---|---|---|
Past Financials | Company Filings (1 month ago) | See Below |
Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
Date (Data in INR Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
---|---|---|---|---|
2021-03-31 | 78,281 | 7,270 | 8,378 | 3 |
2020-03-31 | 73,423 | 7,737 | 7,687 | 4 |
2019-03-31 | 67,570 | 8,485 | 7,130 | 3 |
Date (Data in INR Millions) | Revenue | Cash Flow | Net Income * |
---|---|---|---|
2018-12-31 | 66,183 | 7,150 | |
2018-09-30 | 65,368 | 6,548 | |
2018-06-30 | 63,806 | 5,915 | |
2018-03-31 | 62,424 | 1,023 | 5,812 |
2017-12-31 | 63,395 | 5,760 | |
2017-09-30 | 61,585 | 6,311 | |
2017-06-30 | 61,546 | 9,520 | |
2017-03-31 | 59,975 | 13,503 | 9,814 |
2016-12-31 | 66,588 | 7,116 | |
2016-09-30 | 67,003 | 6,788 | |
2016-06-30 | 66,511 | 6,133 | |
2016-03-31 | 58,596 | 9,151 | 6,146 |
*GAAP earnings excluding extraordinary items.
Data Point | Source | Value |
---|---|---|
Past Financials | Company Filings (1 month ago) | See Below |
Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
All data from Vardhman Textiles Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in INR Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
---|---|---|---|---|
2021-03-31 | 147.53 | 153.20 | 139.20 | 3.00 |
2020-03-31 | 135.00 | 138.20 | 129.50 | 4.00 |
2019-03-31 | 125.63 | 126.90 | 124.40 | 3.00 |
Date (Data in INR Millions) | EPS * |
---|---|
2018-12-31 | 126.68 |
2018-09-30 | 116.90 |
2018-06-30 | 104.82 |
2018-03-31 | 104.54 |
2017-12-31 | 102.92 |
2017-09-30 | 109.73 |
2017-06-30 | 162.27 |
2017-03-31 | 163.10 |
2016-12-31 | 113.83 |
2016-09-30 | 108.58 |
2016-06-30 | 98.10 |
2016-03-31 | 100.90 |
*GAAP earnings excluding extraordinary items.
How has Vardhman Textiles performed over the past 5 years?
All data from Vardhman Textiles Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in INR Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
---|---|---|---|---|
2018-12-31 | 66,182.90 | 7,149.90 | 5,326.90 | |
2018-09-30 | 65,368.30 | 6,547.50 | 5,208.30 | |
2018-06-30 | 63,806.40 | 5,914.80 | 5,178.10 | |
2018-03-31 | 62,424.20 | 5,811.90 | 5,088.40 | |
2017-12-31 | 63,394.80 | 5,760.34 | 5,152.15 | |
2017-09-30 | 61,585.30 | 6,311.14 | 5,118.35 | |
2017-06-30 | 61,545.80 | 9,519.70 | 4,883.10 | |
2017-03-31 | 59,974.50 | 9,814.10 | 4,847.30 | |
2016-12-31 | 66,588.10 | 7,116.42 | 5,378.62 | |
2016-09-30 | 67,003.30 | 6,788.22 | 5,448.62 | |
2016-06-30 | 66,510.90 | 6,133.12 | 5,345.62 | |
2016-03-31 | 58,596.13 | 6,145.93 | 4,366.07 | |
2015-12-31 | 66,462.20 | 5,284.59 | 7,500.17 | |
2015-09-30 | 66,332.60 | 4,659.49 | 7,246.37 | |
2015-06-30 | 67,479.90 | 4,397.39 | 7,107.97 | |
2015-03-31 | 67,859.60 | 4,002.09 | 4,531.64 | |
2014-12-31 | 67,090.32 | 4,288.46 | 6,269.90 | |
2014-03-31 | 61,664.32 | 7,183.46 | 6,267.50 | |
2013-03-31 | 49,720.74 | 3,563.83 | 5,407.68 | |
2012-03-31 | 46,407.10 | 1,413.63 | 4,693.49 |
*GAAP earnings excluding extraordinary items.
How is Vardhman Textiles's financial health and their level of debt?
All data from Vardhman Textiles Company Filings, last reported 1 month ago.
Date (Data in INR Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
---|---|---|---|
2018-12-31 | 53,212.70 | 13,402.90 | 12,923.50 |
2018-09-30 | 53,212.70 | 13,402.90 | 12,923.50 |
2018-06-30 | 50,624.80 | 20,309.60 | 10,712.00 |
2018-03-31 | 50,624.80 | 23,214.80 | 10,498.00 |
2017-12-31 | 46,506.20 | 18,347.50 | 13,733.80 |
2017-09-30 | 46,506.20 | 18,347.50 | 13,733.80 |
2017-06-30 | 43,854.80 | 18,090.20 | 10,134.90 |
2017-03-31 | 43,854.20 | 22,383.60 | 9,770.20 |
2016-12-31 | 46,904.90 | 19,590.50 | 22,203.20 |
2016-09-30 | 46,904.90 | 19,590.50 | 22,203.20 |
2016-06-30 | 42,180.62 | 27,781.88 | 5,464.06 |
2016-03-31 | 41,029.36 | 26,302.68 | 4,357.64 |
2015-12-31 | 40,732.60 | 16,436.70 | 14,702.10 |
2015-09-30 | 40,732.60 | 16,436.70 | 14,702.10 |
2015-06-30 | 38,163.04 | 26,401.55 | 6,145.81 |
2015-03-31 | 38,163.04 | 26,401.55 | 6,145.81 |
2014-12-31 | |||
2014-03-31 | 35,283.64 | 33,727.41 | 4,928.74 |
2013-03-31 | 28,619.65 | 31,736.84 | 5,361.23 |
2012-03-31 | 25,478.65 | 27,570.68 | 3,305.95 |
What is Vardhman Textiles's current dividend yield, its reliability and sustainability?
Data Point | Source | Value |
---|---|---|
Past Annualized Dividend Yield | S&P Global Market Data | See Below |
Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
Future Dividends per Share Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
India Luxury Industry Average Dividend Yield | Market Cap Weighted Average of 109 Stocks | 0.7% |
India Market Average Dividend Yield | Market Cap Weighted Average of 1397 Stocks | 1.4% |
India Minimum Threshold Dividend Yield | 10th Percentile | 0.3% |
India Bottom 25% Dividend Yield | 25th Percentile | 0.6% |
India Top 25% Dividend Yield | 75th Percentile | 2.1% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
Date (Data in ₹) | Dividend per Share (annual) | Avg. No. Analysts |
---|---|---|
2021-03-31 | 19.50 | 2.00 |
2020-03-31 | 20.37 | 3.00 |
2019-03-31 | 16.00 | 2.00 |
Date (Data in ₹) | Dividend per share (annual) | Avg. Yield (%) |
---|---|---|
2018-09-27 | 15.000 | 1.434 |
2017-05-10 | 15.000 | 1.211 |
2016-05-09 | 15.000 | 1.377 |
2016-03-11 | 15.000 | 1.819 |
2015-07-22 | 10.000 | 1.246 |
2014-08-07 | 6.000 | 1.184 |
2014-05-23 | 6.000 | 1.309 |
2013-09-10 | 6.000 | 1.708 |
2012-09-06 | 4.500 | 1.718 |
2011-09-27 | 4.500 | 2.211 |
2010-05-07 | 3.000 | 1.145 |
2009-05-07 | 2.000 | 1.227 |
2009-03-31 | 2.000 | 3.146 |
2009-02-24 | 4.000 | 8.518 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Mr. Shri Paul Oswal, M.Com. has been the Executive Chairman of Vardhman Textiles Limited since June 1, 2005 and its Managing Director since June 17, 2005. Mr. Oswal has been the Managing Director of Vardhman Holdings Ltd. since August 9, 2016. He served as Chief Executive Officer and Managing Director of Vardhman Holdings Ltd. Mr. Oswal served as the Managing Director and Chairman of the Board at Vardhman Special Steels Limited. He has a Rich Business experience of about 38 years in the Textile Industry. He co-founded Ludhiana Stock Exchange Limited in 1981 and served as its President and Chairman from August 16, 1983 to July 27, 1986. He served as the Managing Director of Vardhman Holdings Ltd., (formerly, Vardhman Spinning & General Mills) until June 1, 2005. Mr. Oswal serves as the Chairman of Vardhman Holdings Ltd. He serves as the Chairman of Nimbua Greenfield (Punjab) Limited, Vardhman Yarns & Threads Limited and Vardhman Threads Ltd. He serves as the Non-Executive Chairman at Vardhman Acrylics Ltd. and has been its Non Independent Director since December 24, 1990. Mr. Oswal has been a Director of Vardhman Holdings Ltd., since April 12, 1971 and UTI Trustee Company Pvt. Ltd., of UTI Mutual Fund - Children Career Plan since January 13, 2006. He has been a Director of Vardhman Textiles since October 08, 1973. He serves as a Director of VMT Spinning Company Limited, Adinath Investment & Trading Company, Devakar Investment & Trading Company (P) Limited, Anklesh Investments (P) Limited, Srestha Holdings Limited, Vardhman Linen Limited, Vardhman Textile Processors (P) Limited, Santon Finance and Investment Company Limited, Flamingo Finance and Investment Company Limited, Ramaniya Finance and Investment Company Limited, Marshall Investment and Trading Company (P) Limited, Pradeep Mercantile Company Pvt. Ltd., Plaza Trading Company (P) Limited, The Ludhiana Industries Power Company Limited, Syracuse Investment & Trading Company (P) Limited, Vardhman Yarns & Threads Limited and Nimbua Greenfield (Punjab) Limited. He serves as a Director of Syracase Investment & Trading Co. P. Ltd. He serves as a Trustee of Banarso Devi Oswal Public Charitable Trust, Sri Aurobindo Socio Economic & Mgt. Research Institute, VSGM Ltd., Employees Gratuity Fund Trust, Mahavir Employees Gratuity Fund Trust, Vardhman Superannuation Scheme and Mahavir Superannuation Scheme. He served as Director of Export-Import Bank of India.
Average tenure and age of the Vardhman Textiles management team in years:
Average tenure and age of the Vardhman Textiles board of directors in years:
Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (₹) | Value (₹) | |
---|---|---|---|---|---|---|---|---|---|---|
06. Jul 18 | Sell | Neeraj Jain | Individual | 02. Jul 18 | 04. Jul 18 | -1,012 | ₹1,219.32 | ₹-1,227,626 | ||
22. Mar 18 | Sell | Northern Trading Company | Company | 20. Mar 18 | 20. Mar 18 | -19,146 | ₹1,241.13 | ₹-23,762,674 | ||
21. Mar 18 | Sell | Adishwar Enterprises LLP | Company | 19. Mar 18 | 19. Mar 18 | -19,600 | ₹1,241.06 | ₹-24,324,774 | ||
22. Mar 18 | Sell | Adishwar Enterprises LLP | Company | 20. Mar 18 | 20. Mar 18 | -19,600 | ₹1,239.87 | ₹-24,301,451 | ||
21. Mar 18 | Buy | Northern Trading Company | Company | 19. Mar 18 | 19. Mar 18 | 19,000 | ₹1,241.34 | ₹23,585,459 |
The past 5 years show the company has grown earnings by 14.74% annually and recorded a ROA of 8.48% over the previous twelve months (compared to the industry’s 6.04%), showing 502986 is a strong candidate for a bear market based on these defensive tenets. … With UPL’s market value of ₹360.95B and a PE of 17.81x, greater liquidity is offered at a good price relative to the market, which reduces risk of firm price declines and allows you to sell without a large loss due to unattractive spreads. … As the past 5 years have seen annual earnings growth of 19.51% and a ROE of 22.09% in the most previous year, UPL Limited is a fundamentally strong defensive company.
Simply Wall St - – Full articlebecause it’s a mid-cap stock priced at ₹75.39B and a PE of 12.75x, there is room for enough active participants in the market for the stock and there could still be space for value in the price, helping curtail the rate of decline in share price during periods of mass selling. … With SJVN’s market value of ₹144.16B and a PE ratio of 9.34x, there are active participants in the market for the stock and there could still be room for value in the price, which reduces risk of firm price declines and allows you to sell without a large loss due to unattractive spreads. … With Hero MotoCorp’s market value of ₹716.36B and a PE of 19.98x, greater liquidity is offered at a good price relative to the market, which reduces risk of firm price declines and allows you to sell without a large loss due to unattractive spreads.
Simply Wall St - – Full article
Vardhman Textiles Limited, together with its subsidiaries, manufacturing, purchases, and sells textiles in India. It operates in two segments, Textiles and Fibre. The company manufactures yarns, fabrics, fibers, threads, and garments. It offers specialized greige and dyed yarns in cotton, polyester, acrylic, and various blends; and value added products, such as organic cotton, melange, core spun yarns, ultra yarns, gassed mercerized, super fine yarns, slub and cellulose yarns, and fancy yarns for hand knitting. The company also exports its products. In addition, it engages in lending and investing activities; and manufacturing steel products. The company was formerly known as Mahavir Spinning Mills Limited and changed its name to Vardhman Textiles Limited in September 2006. Vardhman Textiles Limited was founded in 1965 and is based in Ludhiana, India.
Name: | Vardhman Textiles Limited |
502986 | |
Exchange: | BSE |
Founded: | 1965 |
₹54,498,072,955 | |
56,474,687 | |
Website: | http://www.vardhman.com |
Address: |
Vardhman Textiles Limited Chandigarh Road, Ludhiana, Punjab, 141010, India |
Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
---|---|---|---|---|---|---|---|
BSE | 502986 | Equity Shares | Mumbai Stock Exchange | IN | INR | 13. Jul 2001 | |
NSEI | VTL | Equity Shares | National Stock Exchange of India | IN | INR | 13. Jul 2001 |
Textiles | |
Consumer Durables |
Area | Date (UTC time) |
---|---|
Company Analysis updated: | 2019/02/22 12:39 |
End of day share price update: | 2019/02/22 00:00 |
Last estimates confirmation: | 2019/02/14 |
Last earnings filing: | 2019/02/06 |
Last earnings reported: | 2018/12/31 |
Last annual earnings reported: | 2018/03/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.