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India's largest integrated textile manufacturer, producing yarn, fabric and garments mainly for export and domestic markets.
India's largest integrated textile manufacturer, producing yarn, fabric and garments mainly for export and domestic markets.
Spins cotton and synthetic fibre into yarn that is sold on to weavers and knitters in India and abroad, with yarn the largest part of sales and fabric and garments added to capture more of the chain. Earnings swing with cotton prices and yarn demand. The Oswal family promoters control it.
In one line: A large, vertically integrated Indian textile mill.
Moat: narrow (scale). Large-scale vertical integration from fiber to fabric gives cost advantages versus smaller mills.
Headquarters: Ludhiana, India · Founded: 1965 · Employees: 24,097
Size Vardhman Textiles (VTL.NS) is an India Materials company (Textiles) with a market value of $1.56B, the 453rd largest of 1,058 India companies the cockpit tracks. Shares closed at ₹508.80 on 6 Nov 2026.
Performance Over six months the shares fell 14.7%, against +10.5% for the median peer and 0.0% for the India market (cap-weighted) — 5th lowest of 12 in its peer set.
Growth Revenue grew 3.3% over the last twelve months (peer median +1.7%); the operating margin is 8.9% (peer median 5.6%).
Valuation It trades at 12.0× forward earnings against a peer median of 24.9× (3rd cheapest of 9).
Capital Return on invested capital runs 6.6 points below its cost of capital (13.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹102B | ₹97.2B | ₹96.3B | ₹93.4B | ₹99.5B |
| Revenue growth | — | +1% | +3% | -6% | — |
| Gross profit | ₹32.2B | ₹12.1B | ₹12.3B | ₹8.49B | ₹12.7B |
| EBITDA | ₹13.9B | ₹11.9B | ₹11.4B | ₹8.64B | ₹12.3B |
| Net income | ₹8.48B | ₹7.45B | ₹8.83B | ₹6.32B | ₹7.95B |
| Free cash flow | n/a | -₹6.39B | ₹5.88B | -₹13.7B | ₹11.7B |
| Capital expenditure | n/a | ₹17.4B | ₹10.3B | ₹2.84B | ₹6.22B |
| Total debt | n/a | ₹18.5B | ₹12.4B | ₹17.9B | ₹16.8B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Vardhman Textiles VTL.NS | $1.56B | -15% | +3% | 9% | 12.0× | n/a |
| Arvind ARVIND.NS | $1.43B | +10% | +19% | 8% | 26.6× | 21.1% |
| Trident TRIDENT.NS | $1.29B | -11% | -4% | 11% | 17.1× | 18.5% |
| Welspun Living WELSPUNLIV.NS | $2.41B | +82% | +5% | 8% | 35.5× | 32.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | VTL.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.2% | -2.5% | 7th highest of 13 |
| 6-month return | -14.7% | +10.5% | 5th lowest of 12 |
| Distance from 52-week high | -26.1% | -21.8% | 6th lowest of 13 |
| Revenue growth (TTM) | +3.3% | +1.7% | 5th highest of 12 |
| Operating margin | 8.9% | 5.6% | 3rd highest of 12 |
| Forward P/E | 12.0× | 24.9× | 3rd cheapest of 9 |
| ROIC minus cost of capital | -6.6 pp | -3.1 pp | 5th lowest of 12 |
| EV / EBITDA | 10.6× | 14.2× | 3rd cheapest of 10 |
| Net debt / EBITDA | 0.6× | 1.5× | 3rd least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Vardhman Textiles VTL.NS | India | $1.56B | -15% | +3% | 9% | 12.0× | n/a | n/a |
| Arvind ARVIND.NS | India | $1.43B | +10% | +19% | 8% | 26.6× | 21.1% | +12.8% |
| Trident TRIDENT.NS | India | $1.29B | -11% | -4% | 11% | 17.1× | 18.5% | +7.9% |
| Aditya Birla Real Estate ABREL.NS | India | $1.26B | -33% | -26% | -19% | n/a | 39.6% | -30.9% |
| Indo Count Industries ICIL.NS | India | $1.03B | +68% | +19% | 8% | 29.7× | 31.4% | +10.5% |
| Kolon Ind 120110.KS | South Korea | $858M | -61% | +2% | 4% | 4.9× | 4.2% | +4.2% |
| Raymond RAYMOND.NS | India | $761M | +111% | -6% | 6% | 79.4× | n/a | n/a |
| Kusumgar KUSUMGAR.NS | India | $612M | n/a | n/a | n/a | 34.7× | n/a | n/a |
| Sanathan Textiles SANATHAN.NS | India | $500M | +21% | +77% | 5% | 23.2× | n/a | n/a |
| Alok Industries ALOKINDS.NS | India | $442M | -41% | +6% | -4% | n/a | n/a | n/a |
| Filatex India FILATEX.NS | India | $427M | +100% | 0% | 6% | n/a | 20.8% | +13.3% |
| GHCL GHCL.NS | India | $406M | -21% | +2% | 20% | 7.7× | -2.5% | +4.2% |
| Jindal Worldwide JINDWORLD.NS | India | $399M | +39% | -2% | 5% | n/a | 21.9% | +6.0% |