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Vardhman Polytex Limited, through its subsidiaries, manufactures and sells yarns and garments in India and internationally. The last earnings update was 136 days ago. More info.
7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
---|---|---|---|---|---|---|
Vardhman Polytex (VARDMNPOLY) | 12.6% | -6.4% | -21.2% | -55.9% | -71% | -66.9% |
IN Luxury | 0.3% | -0.2% | -2.3% | -8.7% | 55.9% | 186.4% |
IN Market | 1% | -2.2% | -1.2% | -8.2% | 46.7% | 78.8% |
Below are the data sources, inputs and calculation used to determine the intrinsic value for Vardhman Polytex.
Data Point | Source | Value |
---|---|---|
Valuation Model | 2 Stage Free Cash Flow to Equity | |
Levered Free Cash Flow | Extrapolated from most recent financials. | See below |
Discount Rate (Cost of Equity) | See below | 22.5% |
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%) (2513.05%)) |
9.935 |
Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
2 |
Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (2 * 7.45%) |
22.45% |
Discounted Cash Flow Calculation for NSEI:VARDMNPOLY using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Vardhman Polytex 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) | 113.09 | 106.19 | 99.71 | 93.63 | 87.91 |
Source | Est @ -6.1% | Est @ -6.1% | Est @ -6.1% | Est @ -6.1% | Est @ -6.1% |
Present Value Discounted (@ 22.45%) |
92.35 | 70.82 | 54.31 | 41.64 | 31.93 |
Present value of next 5 years cash flows | ₹291.06 |
Calculation | Result | |
---|---|---|
Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= ₹87.91 × (1 + 7.55%) ÷ (22.45% – 7.55%) |
₹634.57 |
Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= ₹634.57 ÷ (1 + 22.45%)5 |
₹230.51 |
Calculation | Result | |
---|---|---|
Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= ₹291.06 + ₹230.51 |
₹521.57 |
Equity Value per Share (INR) |
= Total value / Shares Outstanding
= ₹521.57 / 22.29 |
₹23.63 |
Calculation | Result | |
---|---|---|
Non-primary Listing Adjustment Factor |
1 share in NSEI:VARDMNPOLY
represents 1.00986x
of
BSE:514175
(This could be a different class, a depositary receipt, a different currency, or all of these things.) |
1.00986x |
Value per Share (Listing Adjusted, INR) |
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 23.40 x 1.00986 |
₹23.63 |
Value per share (INR) | From above. | ₹23.63 |
Current discount | Discount to share price of
₹10.25
= -1 x (₹10.25 - ₹23.63) / ₹23.63 |
56.6% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Data Point | Source | Value |
---|---|---|
Earnings Per Share * | Company Filings (2018-03-31) in INR | ₹-77.01 |
BSE:514175 Share Price ** | BSE (2019-02-22) in INR | ₹10.15 |
India Luxury Industry PE Ratio | Median Figure of 236 Publicly-Listed Luxury Companies | 11.69x |
India Market PE Ratio | Median Figure of 2,709 Publicly-Listed Companies | 15.49x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Vardhman Polytex.
Calculation | Outcome | |
---|---|---|
PE Ratio | = BSE:514175 Share Price ÷ EPS (both in INR) = 10.15 ÷ -77.01 |
-0.13x |
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 | -0.13x |
Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts |
Not available |
India Luxury Industry PEG Ratio | Median Figure of 27 Publicly-Listed Luxury Companies | 0.99x |
India Market PEG Ratio | Median Figure of 607 Publicly-Listed Companies | 1.15x |
*Line of best fit is calculated by linear regression .
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 (2018-03-31) in INR | ₹-105.70 |
BSE:514175 Share Price * | BSE (2019-02-22) in INR | ₹10.15 |
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 | 1.05x |
Calculation | Outcome | |
---|---|---|
PB Ratio | = BSE:514175 Share Price ÷ Book Value per Share (both in INR) = 10.15 ÷ -105.70 |
-0.1x |
* Primary Listing of Vardhman Polytex.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Vardhman Polytex has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.
Data Point | Source | Value (per year) |
---|---|---|
India Luxury Industry Earnings Growth Rate | Market Cap Weighted Average | 18.4% |
India Luxury Industry Revenue Growth Rate | Market Cap Weighted Average | 15% |
India Market Earnings Growth Rate | Market Cap Weighted Average | 18.6% |
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 (10 months ago) | See Below |
Future Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
Date (Data in INR Millions) | Revenue | Cash Flow | Net Income * |
---|---|---|---|
2018-03-31 | 6,410 | 509 | -1,717 |
2017-03-31 | 9,255 | 918 | -335 |
2016-03-31 | 9,536 | 1,089 | -150 |
*GAAP earnings excluding extraordinary items.
Data Point | Source | Value |
---|---|---|
Past Financials | Company Filings (10 months ago) | See Below |
Future Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
All data from Vardhman Polytex Company Filings, last reported 10 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in INR Millions) | EPS * |
---|---|
2018-03-31 | -77.01 |
2017-03-31 | -15.01 |
2016-03-31 | -6.73 |
*GAAP earnings excluding extraordinary items.
How has Vardhman Polytex performed over the past 5 years?
All data from Vardhman Polytex Company Filings, last reported 10 months 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 |
---|---|---|---|---|
2018-03-31 | 6,409.64 | -1,716.68 | 652.12 | |
2017-03-31 | 9,254.82 | -334.52 | 740.76 | |
2016-03-31 | 9,536.29 | -150.12 | 749.91 | |
2015-03-31 | 10,214.93 | -449.12 | 751.73 | |
2014-03-31 | 10,547.23 | -64.80 | 1,157.93 | |
2013-03-31 | 9,442.36 | -49.61 | 981.42 | |
2012-03-31 | 8,549.41 | -995.62 | 924.33 |
*GAAP earnings excluding extraordinary items.
How is Vardhman Polytex's financial health and their level of debt?
All data from Vardhman Polytex Company Filings, last reported 10 months ago.
Date (Data in INR Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
---|---|---|---|
2018-03-31 | -2,233.99 | 5,685.85 | 16.99 |
2017-03-31 | -512.48 | 5,244.50 | 65.81 |
2016-03-31 | -174.01 | 5,336.98 | 94.75 |
2015-03-31 | 284.01 | 5,811.34 | 107.33 |
2014-03-31 | 645.18 | 6,005.51 | 223.88 |
2013-03-31 | 477.61 | 6,466.94 | 293.92 |
2012-03-31 | 375.70 | 6,597.08 | 96.91 |
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
What is Vardhman Polytex'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 0 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% |
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. Yield (%) |
---|---|---|
2010-05-10 | 0.000 | 0.000 |
2009-06-16 | 0.000 | 0.000 |
2009-03-31 | 0.000 | 0.000 |
2009-02-24 | 2.000 | 7.198 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Mr. Adish Oswal, B.Com, has been Chairman, Managing Director and Chief Operating Officer at Vardhman Polytex Limited since December 26, 2018. He serves as Managing Director of Oswal Retail Pvt. Ltd. Mr. Oswal served as a Managing Director of Business & Corporate Affairs at Vardhman Polytex Ltd. until December 2018 and serves as an Executive Director since July 31, 2009. He is actively participating into administrative and day-to-day functioning of Vardhman Polytex and involved into the Strategic Decision making and key management decisions for the future growth. Mr. Oswal has been Executive Director of Vardhman Polytex Ltd since July 31, 2009. He serves as a Director of Oswal P.M. Hammerle Textiles Ltd., Oswal Retail (P) Ltd., Oswal Holding (P) Ltd., Oswal Infratech (P) Ltd., and Allepy Investment & Trading Co. (P).
Average tenure and age of the Vardhman Polytex management team in years:
Average tenure and age of the Vardhman Polytex board of directors in years:
If you want to know who really controls Vardhman Polytex Limited (NSE:VARDMNPOLY), then you'll have to look at the makeup of its share registry. … Vardhman Polytex is not a large company by global standards. … View our latest analysis for Vardhman Polytex
Simply Wall St - – Full articleAshok Oswal took the reins as CEO of Vardhman Polytex Limited's (NSE:VARDMNPOLY) and grew market cap to ₹273.06m recently. … Understanding how CEOs are incentivised to run and grow their company is an important aspect of investing in a stock. … See our latest analysis for Vardhman Polytex
Simply Wall St - – Full articleSee our latest analysis for Vardhman Polytex NSEI:VARDMNPOLY Ownership_summary Jun 5th 18 Institutional Ownership Institutional investors transact in large blocks which can influence the momentum of stock prices, at least in the short-term, especially when there is a low level of public shares available on the market to trade. … Private Company Ownership Another group of owners that a potential investor in VARDMNPOLY should consider are private companies, with a stake of 57.79%. … Thus, potential investors should look into these business relations and check how it can impact long-term shareholder returns.Next Steps: With a low level of institutional ownership, investors in VARDMNPOLY need not worry about non-fundamental factors such as ownership structure causing large impact on stock prices.
Simply Wall St - – Full articleFor the most up-to-date info, I use data from the most recent 12 months, which annualizes the latest 6-month earnings release, or some times, the latest annual report is already the most recent financial data. … NSEI:VARDMNPOLY Income Statement Apr 11th 18 We can further analyze Vardhman Polytex's loss by looking at what the industry has been experiencing over the past few years. … Each year, for the past half a decade Vardhman Polytex's revenue growth has been fairly muted, with an annual growth rate of 0.99%, on average.
Simply Wall St - – Full articleView our latest analysis for Vardhman Polytex NSEI:VARDMNPOLY Ownership_summary Mar 2nd 18 Institutional Ownership Institutional investors are one of the largest group of market participants and their buy-sell decisions on a company's stock can significantly impact prices, more so, when there are relatively small amounts of shares available on the market to trade. … Private Company Ownership Another important group of owners for potential investors in VARDMNPOLY are private companies that hold a stake of 57.79% in VARDMNPOLY. … As a result, potential investors should further explore the company's business relations with these companies and find out if they can affect shareholder returns in the long-term.Next Steps: Institutional ownership in VARDMNPOLY is not at a level that would concern investors.
Simply Wall St - – Full articleThe second type is market risk, one that you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks in the market. … With a market cap of IN₨556.16M, VARDMNPOLY falls within the small-cap spectrum of stocks, which are found to experience higher relative risk compared to larger companies. … Depending on the composition of your portfolio, low-beta stocks such as VARDMNPOLY is valuable to lower your risk of market exposure, in particular, during times of economic decline.
Simply Wall St - – Full articleAfter reading Vardhman Polytex Limited's (NSEI:VARDMNPOLY) most recent earnings announcement (31 March 2017), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … I use data from the most recent 12 months, which annualizes the latest 6-month earnings release, or some times, the latest annual report is already the most recent financial data. … For Vardhman Polytex, its latest twelve-month earnings is -₹330.4M, which, against last year’s figure, has become more negative.
Simply Wall St - – Full article
Vardhman Polytex Limited, through its subsidiaries, manufactures and sells yarns and garments in India and internationally. The company provides yarns, including grey cotton yarns, polyester cotton yarns, compact yarns, organic cotton yarns, BCI cotton yarns and blends, dyed yarns, SUPIMA cotton yarns, modal and cotton/modal blends, bamboo and cotton/bamboo blends, slub/multicount yarns, and lycra/spandex blended core spun yarns. It also offers fabrics, including yarn dyed shirting fabrics; various fabric constructions; and fabrics with mechanical and chemical finishes. In addition, the company provides garments, such as polo and round neck T-shirts, hoodies, sweatshirts, etc. for men, women, and kids. Further, the company develops real estate projects. The company was incorporated in 1980 and is based in Ludhiana, India.
Name: | Vardhman Polytex Limited |
VARDMNPOLY | |
Exchange: | NSEI |
Founded: | 1980 |
₹226,253,213 | |
22,290,957 | |
Website: | http://www.oswalgroup.com |
Address: |
Vardhman Polytex Limited Vardhman Park, Chandigarh Road, Ludhiana, Punjab, 141123, India |
Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
---|---|---|---|---|---|---|---|
BSE | 514175 | Equity Shares | Mumbai Stock Exchange | IN | INR | 26. Feb 2001 | |
NSEI | VARDMNPOLY | Equity Shares | National Stock Exchange of India | IN | INR | 26. Feb 2001 |
Textiles | |
Consumer Durables |
Area | Date (UTC time) |
---|---|
Company Analysis updated: | 2019/02/23 12:55 |
End of day share price update: | 2019/02/22 00:00 |
Last earnings filing: | 2018/10/10 |
Last earnings reported: | 2018/03/31 |
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.