Vardhman Acrylics

₹56.8 1.2 | 2.1%

WEBSITE BSE:0 NSE : VARDHMAN ACRY 18 May, 12:45

Market Cap ₹456 Cr.

Stock P/E 26.0

P/B 1.9

Current Price ₹56.8

Book Value ₹ 30.2

Face Value 10

52W High ₹74.9

Dividend Yield 3.52%

52W Low ₹ 48

Edit Ratio

Vardhman Acrylics Research see more...

Overview Inc. Year: 1990Industry: Textile - Manmade Fibres

Vardhman Acrylics Ltd is engaged in production of man-made fibers. The Company operates via Acrylic Fibre & Tow segment. The Company's products consist of non-shrinkable; high shrinkage; medium shrinkage; very high shrinkable; tow 123, 131, 139 K-Tex; staple for open end; tender hand and water absorbent. The Company's merchandise are advertised underneath the brand name of VARLAN. The Company's products are used for garb use, consisting of kids garments, sweater, muffler, t-shirts, headband, socks, tie, underwear, shirting, track-fits, shalwar kamiz and jersey. The Company's merchandise are also used for household use, which include carpets, woven blanket (circular knit), blanket (tufting), rug-bed sheet, bunting, bath mat, towel and draperies. The Company has 18,000 tons/annum (TPA) acrylic staple fiber and tow production plant at Jhagadia District, Bharuch inside the state of Gujarat, India.

Vardhman Acrylics Share Price

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Vardhman Acrylics Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	102	100	119	119	108	81	81	86	62	68
Other Income	3	2	3	3	4	3	4	4	3	4
Total Income	105	102	122	122	112	84	84	90	65	72
Total Expenditure	91	108	105	111	97	77	82	81	57	64
Operating Profit	14	-6	17	10	15	7	2	9	8	8
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	1
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	13	-7	15	9	14	5	1	8	6	7
Provision for Tax	3	-2	4	2	3	1	0	2	1	1
Profit After Tax	10	-6	12	7	10	4	0	6	6	5
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	10	-6	12	7	10	4	0	6	6	5
Adjusted Earnings Per Share	1.2	-0.7	1.5	0.9	1.3	0.5	0.1	0.8	0.7	0.7

Vardhman Acrylics Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	436	468	498	413	337	320	392	334	280	303	427	297
Other Income	8	29	16	22	25	21	25	27	15	14	13	15
Total Income	445	497	514	435	362	340	417	361	296	318	439	311
Total Expenditure	394	426	465	368	300	288	364	308	233	294	391	284
Operating Profit	50	71	50	66	62	52	53	53	63	23	49	27
Interest	1	1	0	0	0	1	0	0	1	0	0	0
Depreciation	11	11	5	4	5	5	5	5	5	5	5	4
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	38	59	45	62	57	47	47	48	57	17	43	22
Provision for Tax	14	16	11	21	16	8	12	2	14	3	10	4
Profit After Tax	24	44	33	41	41	39	34	46	43	15	33	17
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	24	44	33	41	41	39	34	46	43	15	33	17
Adjusted Earnings Per Share	2.6	4.7	3.6	4.4	5.1	4.8	4.3	5.8	5.3	1.8	4.1	2.3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	41%	9%	6%	-0%
Operating Profit CAGR	113%	-3%	-1%	-0%
PAT CAGR	120%	-10%	-3%	3%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	16%	10%	6%	13%
ROE Average	14%	10%	11%	12%
ROCE Average	19%	13%	14%	16%

Vardhman Acrylics Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	259	301	321	318	295	319	334	355	398	212	245
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	0	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	20	16	16	27	27	21	20	11	11	8	8
Total Current Liabilities	104	143	181	152	204	192	231	227	230	244	262
Total Liabilities	383	461	518	498	526	532	585	594	639	464	515
Fixed Assets	86	75	72	61	58	55	52	64	59	56	54
Other Non-Current Assets	7	80	109	119	24	131	70	84	54	57	89
Total Current Assets	290	306	336	317	445	347	463	447	527	351	371
Total Assets	383	461	518	498	526	532	585	594	639	464	515

Vardhman Acrylics Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	5	12	6	3	1	9	4	2	63	19	1
Cash Flow from Operating Activities	24	43	55	23	42	3	26	4	39	-9	39
Cash Flow from Investing Activities	3	-44	-58	43	30	7	-8	80	-83	190	-37
Cash Flow from Financing Activities	-20	-5	-1	-68	-63	-15	-20	-24	-1	-198	-3
Net Cash Inflow / Outflow	7	-6	-3	-2	8	-5	-2	61	-44	-17	-1
Closing Cash & Cash Equivalent	12	6	3	1	9	4	2	63	19	1	1

Vardhman Acrylics Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	2.58	4.7	3.59	4.38	5.11	4.8	4.29	5.76	5.34	1.81	4.09
CEPS(Rs)	3.77	5.92	4.11	4.86	5.69	5.39	4.96	6.41	6.01	2.49	4.77
DPS(Rs)	0	0	1	5	1.5	2	2.5	0	0	25	2.5
Book NAV/Share(Rs)	27.42	32.37	34.55	34.17	36.76	39.74	41.52	44.23	49.57	26.42	30.53
Core EBITDA Margin(%)	8.87	8.32	6.2	9.87	10.2	9.63	7.1	8.01	16.7	2.9	8.39
EBIT Margin(%)	8.2	11.73	8.31	13.8	15.61	14.47	12.03	14.4	20.19	5.84	10.09
Pre Tax Margin(%)	8.01	11.62	8.25	13.75	15.51	14.25	11.92	14.31	20.01	5.71	10.02
PAT Margin (%)	5.15	8.57	6.18	9.11	11.16	11.8	8.8	13.84	15.03	4.77	7.64
Cash Profit Margin (%)	7.54	10.8	7.06	10.09	12.41	13.24	10.18	15.4	16.93	6.55	8.92
ROA(%)	6.62	10.35	6.83	8.03	8.03	7.29	6.17	7.85	6.96	2.64	6.71
ROE(%)	9.57	15.58	10.74	12.76	13.41	12.55	10.56	13.43	11.39	4.77	14.36
ROCE(%)	14.86	21.1	14.38	19.28	18.71	15.34	14.4	13.93	15.26	5.81	18.83
Receivable days	3.88	4.37	3.97	1.37	3.6	14.29	16.68	13.7	15.71	15.34	10.17
Inventory Days	47.6	51.3	49.63	49.96	65.35	73.62	59.99	74.69	79.7	84.37	67.95
Payable days	25.86	37.2	50.18	57.68	73.89	85.04	67.06	93.64	103.34	70.08	65.5
PER(x)	4.85	3.39	6.61	7.46	10.55	9.91	9.27	4.65	6.86	29.67	10.64
Price/Book(x)	0.46	0.49	0.69	0.96	1.47	1.2	0.96	0.6	0.74	2.03	1.42
Dividend Yield(%)	0	0	4.21	15.29	2.78	4.21	6.28	0	0	46.51	5.75
EV/Net Sales(x)	0.25	0.31	0.44	0.74	1.26	1.19	0.81	0.27	0.69	1.42	0.81
EV/Core EBITDA(x)	2.21	2.02	4.41	4.59	6.85	7.28	6.05	1.72	3.06	18.48	7.08
Net Sales Growth(%)	11.88	7.33	6.32	-17.18	-18.27	-5.19	22.62	-14.69	-16.2	8.26	40.66
EBIT Growth(%)	8.84	53.89	-24.84	37.54	-6.91	-17.71	-0.32	2.08	19.7	-69.08	143.5
PAT Growth(%)	-0.35	78.95	-23.47	21.98	0.83	-6.16	-10.59	34.15	-7.24	-66.07	125.68
EPS Growth(%)	14.3	82.06	-23.47	21.97	16.7	-6.16	-10.59	34.15	-7.24	-66.07	125.68
Debt/Equity(x)	0.02	0.01	0	0	0	0	0	0	0	0.01	0
Current Ratio(x)	2.79	2.13	1.86	2.08	2.19	1.8	2	1.96	2.29	1.44	1.42
Quick Ratio(x)	2.15	1.6	1.47	1.74	1.8	1.53	1.67	1.7	2.01	1.12	1.1
Interest Cover(x)	43.94	113.68	148.87	252.56	159.16	64.77	107.28	162.29	108.71	45.66	147.49
Total Debt/Mcap(x)	0.04	0.01	0	0	0	0	0	0.01	0	0.01	0

Vardhman Acrylics Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	74.97	74.97	74.97	74.97	74.97	74.97	74.97	74.97	74.97	74.97
FII	0.36	0.45	0.37	0.38	0.14	0.13	0.13	0.14	0.13	0.16
DII	0	0	0	0	0	0	0	0	0	0
Public	24.67	24.58	24.66	24.64	24.89	24.9	24.9	24.89	24.9	24.87
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	6.02	6.02	6.02	6.02	6.02	6.02	6.02	6.02	6.02	6.02
FII	0.03	0.04	0.03	0.03	0.01	0.01	0.01	0.01	0.01	0.01
DII	0	0	0	0	0	0	0	0	0	0
Public	1.98	1.98	1.98	1.98	2	2	2	2	2	2
Others	0	0	0	0	0	0	0	0	0	0
Total	8.04	8.04	8.04	8.04	8.04	8.04	8.04	8.04	8.04	8.04

Pros

Debtor days have improved from 70.08 to 65.5days.
Company is almost debt free.

Cons

Company has a low return on equity of 10% over the last 3 years.
The company has delivered a poor profit growth of -3% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Vardhman Acrylics News

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Vardhman Acrylics

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Vardhman Acrylics Research see more...

Overview Inc. Year: 1990Industry: Textile - Manmade Fibres

Vardhman Acrylics Share Price

Alert Data

Quarterly Price

Peer Comparison

Vardhman Acrylics Quarterly Results

Vardhman Acrylics Profit & Loss

Growth Rates

Vardhman Acrylics Balance Sheet

Vardhman Acrylics Cash Flow

Vardhman Acrylics Ratios

Vardhman Acrylics Shareholding Pattern

Vardhman Acrylics News

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