Vardhman Holdings Limited (IN:VHL)
:VHL
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Vardhman Holdings Limited
(VHL)
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Rating:68Neutral
Price Target:
₹3,693.00
▲(2.43% Upside)
Action:Reiterated
Date:05/28/26
The score is driven primarily by a very strong balance sheet and highly attractive valuation (low P/E and high dividend yield). These positives are tempered by weak cash-flow consistency and a recent revenue decline, alongside soft technical momentum.
Positive Factors
Very conservative balance sheet
Zero reported debt and a conservative capital structure give Vardhman Holdings durable solvency and financial flexibility. Low leverage reduces default and refinancing risk, allowing the company to support investee positions or return capital without pressure from interest costs or covenant constraints.
Negative Factors
Inconsistent operating cash flow
Repeated negative operating cash flow and frequently negative free cash flow indicate earnings are not reliably converted into cash. This weakens the company's ability to fund distributions or opportunistic investments without selling assets, raising questions about earnings quality and sustainability.
Read all positive and negative factors
Positive Factors
Negative Factors
Very conservative balance sheet
Zero reported debt and a conservative capital structure give Vardhman Holdings durable solvency and financial flexibility. Low leverage reduces default and refinancing risk, allowing the company to support investee positions or return capital without pressure from interest costs or covenant constraints.
Read all positive factors
Vardhman Holdings Limited (VHL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹11.74B
Dividend Yield0.14%
Average Volume (3M)106.00
Price to Earnings (P/E)5.3
Beta (1Y)1.48
Revenue Growth-42.67%
EPS Growth-16.27%
CountryIN
Employees3
SectorConsumer Defensive
Sector Strength42
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)765.11
Shares Outstanding3,191,536
10 Day Avg. Volume70
30 Day Avg. Volume106
Financial Highlights & Ratios
PEG Ratio-0.27
Price to Book (P/B)0.25
Price to Sales (P/S)67.32
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Vardhman Holdings Limited Business Overview & Revenue Model
Company Description
Established in 1962 and headquartered in Ludhiana, India, Vardhman Holdings Limited functions as a non-banking financial institution within the country. Its core business centers on lending and investment activities. The company underwent a name c...
How the Company Makes Money
VHL makes money primarily through income generated on its investment portfolio. Its key revenue streams typically include (1) dividend income received from equity shares held in investee companies (often including Vardhman Group operating companie...
Vardhman Holdings Limited Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
92
Very Positive
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 181.64M | 141.10M | 132.34M | 84.78M | 244.13M | 140.99M |
| Gross Profit | 176.81M | 140.40M | 126.11M | 79.94M | 231.65M | 132.35M |
| EBITDA | 160.23M | 2.29B | 202.70M | 134.39M | 33.41M | 309.90M |
| Net Income | 2.44B | 2.16B | 2.58B | 1.85B | 2.28B | 4.29B |
Balance Sheet | ||||||
| Total Assets | 37.51B | 37.69B | 35.41B | 32.98B | 31.01B | 27.78B |
| Cash, Cash Equivalents and Short-Term Investments | 15.50M | 15.00M | 1.19B | 816.30M | 624.52M | 2.12B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 154.80M | 35.50M | 5.29M | 5.98M | 10.99M | 6.75M |
| Stockholders Equity | 37.36B | 37.66B | 35.40B | 32.97B | 31.00B | 27.77B |
Cash Flow | ||||||
| Free Cash Flow | -9.50M | 0.00 | -55.10M | -28.91M | -2.87M | -35.96M |
| Operating Cash Flow | -9.50M | 359.70M | -55.10M | -28.91M | 12.85M | -35.96M |
| Investing Cash Flow | 25.30M | -344.40M | 47.60M | 43.93M | 20.48M | -685.74M |
| Financing Cash Flow | -15.70M | -16.00M | -16.10M | -16.02M | -15.95M | -15.96M |
Vardhman Holdings Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹11.74B | 5.33 | ― | 0.14% | -42.67% | -16.27% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
60 Neutral | ₹4.63B | 29.56 | ― | 0.45% | 41.13% | 11.07% | |
58 Neutral | ₹17.79B | 31.46 | ― | ― | -11.53% | 8.42% | |
49 Neutral | ₹15.32B | 8.75 | ― | ― | 39.48% | -8.51% | |
49 Neutral | ₹4.84B | 352.16 | ― | ― | 16.52% | -4.17% | |
47 Neutral | ₹10.09B | 24.81 | ― | 0.05% | -12.02% | 2418.09% |
* Consumer Defensive Sector Average
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Vardhman Holdings Limited Corporate Events
Vardhman Holdings Publishes FY 2026 Results in Line with SEBI Norms
May 24, 2026
Vardhman Holdings Limited announced that it has published its financial results for the quarter and year ended 31 March 2026 in the newspapers Desh Sewak and Financial Express, in compliance with Regulation 47 of SEBI’s Listing Obligations a...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.