Vardhman Holdings

₹3011 4.9 | 0.2%

WEBSITE BSE:500439 NSE : VARD HOLDNG 10 May, 16:01

Market Cap ₹961 Cr.

Stock P/E 4.8

P/B 0.3

Current Price ₹3011

Book Value ₹ 10081.2

Face Value 10

52W High ₹3787.9

Dividend Yield 0.17%

52W Low ₹ 2527.3

Edit Ratio

Vardhman Holdings Research see more...

Overview Inc. Year: 1962Industry: Finance - NBFC

Vardhman Holdings Ltd is a NBFC. The Company is basically engaged in lending and making an investment activities. The Company's portfolio includes investments in debt, equity and real estate.

Vardhman Holdings Share Price

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Peer Comparison

Vardhman Holdings Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Operating Revenue	14	10	6	5	2	4	-5	6	30	8
Other Income	0	0	1	0	0	0	0	0	1	0
Total Income	15	10	7	5	3	5	-5	6	31	8
Total Expenditure	0	1	1	1	1	1	2	0	1	0
Operating Profit	14	9	6	4	2	4	-7	6	30	8
Interest Expense	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	14	9	6	4	2	4	-7	6	30	8
Provision for Tax	10	18	2	0	-2	0	-2	1	7	1
Profit After Tax	5	-9	4	3	4	4	-4	4	23	7
Adjustments	133	118	90	91	57	29	45	39	39	47
Profit After Adjustments	137	109	94	94	61	33	41	44	62	54
Adjusted Earnings Per Share	430.4	340.9	293.9	294.7	189.7	103.8	127.9	137.3	194.1	168

Vardhman Holdings Profit & Loss

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Operating Revenue	13	68	42	14	21	20	33	6	39
Other Income	1	244	1	1	1	1	2	2	1
Total Income	14	312	43	15	22	21	35	8	40
Total Expenditure	4	3	17	8	14	2	3	4	3
Operating Profit	10	310	26	8	8	19	32	3	37
Interest Expense	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0
Profit Before Tax	10	310	26	7	8	133	459	225	37
Provision for Tax	1	6	2	0	1	4	30	-4	7
Profit After Tax	9	303	23	7	6	130	429	228	30
Adjustments	150	0	155	195	153	0	0	0	170
Profit After Adjustments	159	303	179	202	160	130	429	228	201
Adjusted Earnings Per Share	496.9	950.1	559.8	632.4	500.4	405.8	1344.4	715.8	627.3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-82%	-34%	-32%	0%
Operating Profit CAGR	-91%	-28%	-35%	0%
PAT CAGR	-47%	236%	58%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	13%	19%	8%	19%
ROE Average	8%	10%	6%	7%
ROCE Average	8%	11%	7%	7%

Vardhman Holdings Balance Sheet

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	1247	1548	1822	1997	2126	2306	2777	3100
Minority's Interest	0	0	0	0	0	0	0	0
Borrowings	0	0	0	0	0	0	0	0
Current Liability	14	55	3	63	62	60	1	1
Other Liabilities & Provisions	-1	-0	-38	-39	-39	-39	-24	-18
Total Liabilities	1260	1603	1787	2021	2149	2326	2753	3083
Loans	0	0	0	0	0	0	0	0
Investments	1053	1173	1552	1704	1800	2020	2414	2837
Fixed Assets	1	1	3	3	3	3	3	3
Other Loans	2	3	0	0	0	0	0	0
Other Non Current Assets	0	0	0	0	95	9	0	0
Current Assets	203	427	232	313	251	294	336	242
Total Assets	1260	1603	1787	2021	2149	2326	2753	3083

Vardhman Holdings Cash Flow

#(Fig in Cr.)	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	1	1	2	2	5	76	1
Cash Flow from Operating Activities	-34	2	6	-95	82	-5	1
Cash Flow from Investing Activities	36	0	-3	99	-10	-69	2
Cash Flow from Financing Activities	-1	-2	-2	-2	-0	-2	-2
Net Cash Inflow / Outflow	1	0	1	2	72	-75	2
Closing Cash & Cash Equivalent	1	2	2	5	76	1	3

Vardhman Holdings Ratios

#	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	496.89	950.06	559.83	632.39	500.44	405.8	1344.44	715.75
CEPS(Rs)	28.49	950.18	72.98	22.82	20.39	405.83	1344.46	715.78
DPS(Rs)	3	5	5	5	0	5	5	5
Book NAV/Share(Rs)	3907.53	4851.57	5708.71	6258.73	6660.44	7224.79	8700.72	9712.04
Net Profit Margin	71.15	446.15	55.78	52.11	31.33	654.59	1296.72	3881.94
Operating Margin	81.32	455.41	62.31	53.73	38.19	673.75	1388.71	3822.31
PBT Margin	81.32	455.41	61.55	53.45	37.77	673.31	1388.57	3822.26
ROA(%)	0.91	21.18	1.37	0.38	0.31	5.79	16.89	7.83
ROE(%)	1.23	21.69	1.38	0.38	0.32	5.85	16.88	7.77
ROCE(%)	1.11	22.14	1.54	0.39	0.38	6.02	18.08	7.66
Price/Earnings(x)	1.78	2.97	6.78	3.34	1.87	4.37	2.72	3.59
Price/Book(x)	0.23	0.58	0.67	0.34	0.14	0.25	0.42	0.26
Dividend Yield(%)	0.34	0.18	0.13	0.24	0	0.28	0.14	0.19
EV/Net Sales(x)	22.18	13.22	29.01	48.09	14.16	24.75	35.18	138.52
EV/Core EBITDA(x)	27.17	2.9	46.54	89.4	37.03	25.98	36.48	239.76
Interest Earned Growth(%)	-97.87	434.22	-38.61	-66.54	48.52	-4.58	67.24	-82.22
Net Profit Growth	79.69	3249.66	-92.32	-68.74	-10.7	1893.37	231.31	-46.76
EPS Growth(%)	0	91.2	-41.07	12.96	-20.87	-18.91	231.31	-46.76
Interest Coverage(x) %	0	0	82.32	195.85	89.99	1506.25	0	0

Vardhman Holdings Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	74.9	74.9	74.9	74.9	74.9	74.9	74.9	74.9	74.9	74.9
FII	1.51	0.06	0.05	0.04	0.04	0.03	0.03	0.03	0.03	0.03
DII	0.96	0.96	0.96	0.96	0.96	0.96	0.96	0.96	0.97	0.56
Public	22.63	24.08	24.09	24.1	24.1	24.1	24.11	24.11	24.1	24.51
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	0.24	0.24	0.24	0.24	0.24	0.24	0.24	0.24	0.24	0.24
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	0.07	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08
Others	0	0	0	0	0	0	0	0	0	0
Total	0.32	0.32	0.32	0.32	0.32	0.32	0.32	0.32	0.32	0.32

Pros

Stock is trading at 0.3 times its book value
Company has delivered good profit growth of 58% CAGR over last 5 years
Company is almost debt free.

Cons

Company has a low return on equity of 10% over the last 3 years.
Earnings include an other income of Rs. 2 Cr.

* 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.