Vardhman Textiles Limited

BSE:502986 Stock Report

Market Cap: ₹190.1b

Vardhman Textiles Management

Management criteria checks 2/4

Vardhman Textiles' CEO is Shri Oswal, appointed in Jun 2005, has a tenure of 52.67 years. total yearly compensation is ₹227.79M, comprised of 5.2% salary and 94.8% bonuses, including company stock and options. directly owns 1.4% of the company’s shares, worth ₹2.66B. The average tenure of the management team and the board of directors is 9.6 years and 5.9 years respectively.

Key information

Shri Oswal

Chief executive officer

₹227.8m

Total compensation

CEO salary percentage5.22%
CEO tenure21yrs
CEO ownership1.4%
Management average tenure9.6yrs
Board average tenure5.9yrs

Recent management updates

Recent updates

Narrative Update • Jun 05

502986: Future Dividend And Punjab Expansion Decisions Will Shape Fair Earnings Multiple

Analysts have kept their fair value estimate for Vardhman Textiles steady at ₹578.67 per share, indicating that recent tweaks to inputs such as discount rate, revenue growth, profit margin and future P/E assumptions are viewed as minor refinements rather than thesis changing shifts. What's in the News The board meeting is scheduled for April 28, 2026 to consider and approve the audited financial results for the year ended March 31, 2026, and to consider recommending a dividend for the 2025-26 financial year.
New Narrative • Jun 01

Yarn Spread Reliance And Capacity Risks Will Challenge Long Term Earnings Sustainability

Catalysts About Vardhman Textiles Vardhman Textiles is an integrated Indian textile company that produces cotton and synthetic yarns, fabrics and garments for domestic and export customers. What are the underlying business or industry changes driving this perspective?
Narrative Update • May 18

502986: Fair Earnings Multiple Will Depend On Dividend And Expansion Decisions

Analysts have raised their price target on Vardhman Textiles from ₹472.60 to about ₹578.67, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News A board meeting is scheduled for April 28, 2026, to consider and approve audited financial results for the year ended March 31, 2026, and to consider a dividend for the 2025-26 financial year (company filing).
New Narrative • May 13

Global Spinning Realignment And Trade Tailwinds Will Support Stronger Long Term Earnings Quality

Catalysts About Vardhman Textiles Vardhman Textiles is an integrated Indian textile company involved in spinning yarn, producing fabrics and supplying garments to global brands. What are the underlying business or industry changes driving this perspective?
Narrative Update • Apr 28

502986: Object Clause Change Will Sustain Concern Over Rich Earnings Multiple

Analysts have kept the price target for Vardhman Textiles broadly steady around ₹473, citing only very small adjustments to discount rate, revenue growth, profit margin, and future P/E inputs in their models. What's in the News Board meeting scheduled for Apr 28, 2026 to consider and approve the audited financial results for the year ended Mar 31, 2026 and to consider a dividend recommendation for FY 2025-26 (company filing).
Narrative Update • Apr 12

502986: Object Clause Change Will Sustain Concern Over Rich Earnings Multiple

Analysts have adjusted their price target on Vardhman Textiles to ₹472.6 from ₹445.6, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E levels. What's in the News Board meeting on January 20, 2026, to review unaudited financial results for the quarter and nine months ended December 31, 2025, along with the limited review report (company announcement).
Narrative Update • Mar 27

502986: Object Clause Alteration Will Heighten Concern Over Sustained Overvaluation

Analysts have held their fair value estimate for Vardhman Textiles steady at ₹445.6 while adjusting key inputs, such as a lower discount rate and a slightly reduced future P/E assumption. Together, these revisions frame the latest price target narrative for the stock.
Narrative Update • Mar 13

502986: Unchanged Outlook Will Highlight Risk Around Object Clause Alteration

Analysts have kept their fair value estimate for Vardhman Textiles steady at ₹445.6 per share, citing only very small tweaks to assumptions such as the discount rate, long term revenue growth, profit margin and future P/E multiple. What's in the News A board meeting is scheduled on January 20, 2026 to review the unaudited financial results for the quarter and nine months ended December 31, 2025, along with the limited review report (Key Developments).
Narrative Update • Feb 27

502986: Maintained Fair Value Signals Caution As Object Clause Changes Proceed

Analysts have maintained their fair value estimate at ₹445.6 for Vardhman Textiles while trimming the assumed future P/E slightly, reflecting updated views on the company’s discount rate and long term earnings profile. What's in the News A board meeting will be held on January 20, 2026 to review unaudited financial results for the quarter and nine months ended December 31, 2025, along with the limited review report (Key Developments).
Narrative Update • Feb 13

502986: Board Decisions On Object Clause Will Shape Steady Forward Outlook

Analysts have reiterated a price target of ₹445.60 for Vardhman Textiles, with small tweaks to assumptions on discount rate, revenue growth, profit margin and future P/E. This frames the change as a fine tuning of their prior view rather than a major shift.
Narrative Update • Jan 30

502986: Board Actions And Refined Assumptions Will Support Balanced Future Profitability

Analysts have trimmed their price target for Vardhman Textiles to ₹445.6 from ₹484.6, citing updated assumptions that reflect a higher discount rate, more cautious revenue growth and profit margin forecasts, and a higher expected future P/E multiple. What's in the News The board approved an alteration to the object clause of the Memorandum of Association by inserting a new sub clause (xxxiv) in clause III (B), subject to shareholder approval, at its meeting on January 21, 2026 (company filing).
Narrative Update • Jan 16

502986: Upcoming Board Review Will Reinforce Constructive Outlook On Profitability

Analysts have nudged their price target for Vardhman Textiles slightly higher to ₹484.6 from ₹477.4, reflecting updated assumptions around the discount rate, long term revenue growth, profit margin profile and future P/E. What's in the News Board meeting scheduled for October 28, 2025, at 10:30 a.m. Indian Standard Time to review unaudited financial results for the quarter and half year ended September 30, 2025 (company filing).
Narrative Update • Nov 24

502986: Board Meeting And Modest Adjustments Will Shape Near-Term Outlook

Analysts have lowered their price target for Vardhman Textiles from ₹487.67 to ₹477.40. They cited updated assumptions regarding the company's fair value and projected valuation multiples.
Narrative Update • Nov 08

502986: Upcoming Board Review Will Present Bullish Momentum For Equity

Narrative Update on Vardhman Textiles Analysts have maintained their price target for Vardhman Textiles at ₹487.67, based on consistent underlying assumptions regarding revenue growth, profit margins, and valuation multiples. What's in the News Upcoming board meeting on October 28, 2025, is scheduled to review un-audited financial results for the quarter and half-year ended September 30, 2025 (Key Developments).
Narrative Update • Oct 25

Upcoming Board Meeting And Sector Shifts Will Influence Market Prospects

Analysts have revised their price target for Vardhman Textiles downward from ₹510.40 to ₹487.67. This change reflects updated outlooks on the company’s financial metrics and industry conditions.
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New Narrative • Mar 13

INR 3,400 Crores CapEx Will Modernize Operations And Improve Sustainability

Extensive capital expenditure and modernization efforts aim to increase production capacity, improve efficiencies, and potentially boost profitability and earnings.

CEO Compensation Analysis

How has Shri Oswal's remuneration changed compared to Vardhman Textiles's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

₹7b

Dec 31 2025n/an/a

₹8b

Sep 30 2025n/an/a

₹8b

Jun 30 2025n/an/a

₹9b

Mar 31 2025₹228m₹12m

₹9b

Dec 31 2024n/an/a

₹8b

Sep 30 2024n/an/a

₹8b

Jun 30 2024n/an/a

₹7b

Mar 31 2024₹174m₹11m

₹6b

Dec 31 2023n/an/a

₹6b

Sep 30 2023n/an/a

₹5b

Jun 30 2023n/an/a

₹6b

Mar 31 2023₹206m₹9m

₹8b

Dec 31 2022n/an/a

₹10b

Sep 30 2022n/an/a

₹13b

Jun 30 2022n/an/a

₹16b

Mar 31 2022₹434m₹6m

₹15b

Dec 31 2021n/an/a

₹15b

Sep 30 2021n/an/a

₹12b

Jun 30 2021n/an/a

₹8b

Mar 31 2021₹92m₹6m

₹4b

Dec 31 2020n/an/a

₹3b

Sep 30 2020n/an/a

₹3b

Jun 30 2020n/an/a

₹4b

Mar 31 2020₹65m₹6m

₹6b

Compensation vs Market: Shri's total compensation ($USD2.41M) is above average for companies of similar size in the Indian market ($USD497.14K).

Compensation vs Earnings: Shri's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Shri Oswal (84 yo)

21yrs
Tenure
₹227,794,727
Compensation

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 Vardhm...

Leadership Team

NamePositionTenureCompensationOwnership
Shri Oswal
Executive Chairman & MD21yrs₹227.79m1.4%
₹ 2.7b
Suchita Jain
Vice Chairperson & Joint MD16.2yrs₹34.29m0.42%
₹ 803.2m
Neeraj Jain
Joint MD11.8yrs₹37.58m0.0010%
₹ 2.0m
Rajeev Thapar
Chief Financial Officerno data₹11.39mno data
Sanjay Gupta
Compliance Officer & Company Secretary9yrs₹2.70mno data
Mukesh Bansal
Executive VP & Head of Fabric Sales & Marketingno data₹10.51mno data
Parveen Dhingra
Chief General Manager of Operations & Unit Headno data₹15.69mno data
Mukesh Saxena
Chief General Manager of Operations & Unit Headno data₹11.36mno data
Sagrika Jain
Executive Director3.8yrs₹11.45m0.012%
₹ 22.9m
Sushil Jhamb
Director of Raw Material Procurementno data₹13.38mno data
Indermohanjit Sidhu
President & Director In-chargeno data₹14.49mno data
Vikas Mittal
Executive Vice-President of Operationsno datano datano data
9.6yrs
Average Tenure
59.5yo
Average Age

Experienced Management: 502986's management team is seasoned and experienced (9.6 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Shri Oswal
Executive Chairman & MD52.7yrs₹227.79m1.4%
₹ 2.7b
Suchita Jain
Vice Chairperson & Joint MD16.2yrs₹34.29m0.42%
₹ 803.2m
Neeraj Jain
Joint MD16.3yrs₹37.58m0.0010%
₹ 2.0m
Sagrika Jain
Executive Director3.8yrs₹11.45m0.012%
₹ 22.9m
Sachit Jain
Non-Executive Non Independent Director32yrsno datano data
Udey Paul Gill
Non-Executive Independent Director4.4yrs₹755.00kno data
Prem Kumar
Independent Director1.9yrs₹415.00kno data
Arvind Sahay
Independent Directorno datano datano data
Soumya Jain
Non-Executive Non-Independent Directorno datano data0.014%
₹ 27.0m
Atul Khosla
Independent Director2.8yrs₹405.00kno data
Harpreet Kang
Non-Executive Independent Director7.3yrs₹660.00kno data
Suresh Kumar
Non-Executive Independent Director3.8yrs₹870.00kno data
5.9yrs
Average Tenure
59.5yo
Average Age

Experienced Board: 502986's board of directors are considered experienced (5.9 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/21 23:01
End of Day Share Price 2026/06/19 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Vardhman Textiles Limited is covered by 14 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Aradhana Jain360 ONE Capital Market Private Limited
Rajesh ZawarAnand Rathi Shares and Stock Brokers Limited
null nullAntique Stockbroking Ltd.