Vardhman Textiles Ltd. is an Indian-based company engaged in manufacturing and trading yarn and processed fabric, acrylic fibre, alloy steel, and sewing thread. It was incorporated in 1965 with its headquarters in Ludhiana. For the quarter ended June 2022, the company recorded a total revenue of Rs 2,831.79 crore, up 2.77% from the previous quarter ended March 2022. On 12 August 2022, the company’s market capitalisation stood at Rs 8,991 crore.
The company is listed on the Bombay Stock Exchange with the code 502986, and on the National Stock Exchange with the code VTL.
Vardhman Textiles Ltd. is the largest manufacturer of hand knitting yarn in India. It is also the leading manufacturer and exporter of cotton yarn. With 18 state-of-the-art manufacturing facilities, it has a global presence in more than 75 countries like the USA, Japan, China, Mexico, Mauritius, the Middle East, Brazil, and Canada. During FY 2021-2022, the company generated a profit of Rs 1,546.89 crore after tax. It was up 277.37% from the previous financial year, 2020-2021.
On 30 June 2022, the company’s shareholding pattern indicated a 62.91% promoter stake, 7.51% foreign institutional investor stake, 16.56% domestic institutional investor stake, and 13.01% public stake. Vardhman Holdings Ltd. was the leading promoter with a 27.51% share. The promoters’ holdings decreased from 62.93% to 62.91%, while mutual funds increased holdings from 15.24% to 15.45% in the June quarter.
Mr Shri Paul Oswal is the company’s chairman and managing director. The other directors include Mr Neeraj Jain, Ms Suchita Jain, Mr Sachit Jain, MrParampal Singh, Mr Subhash Khanchand Bijlani, Mr Prafull Anubhai, Ms Harpreet Kaur Kang, Mr Rajiv Thapar, and Mr Sanjay Gupta. The auditors are Deloitte Haskins & Sells LLP. As of 30 June 2022, the company had a total of 28.89 crore shares outstanding.
On 12 August 2022, Vardhman Textiles Ltd.’s share price closed at Rs 312 on BSE. The company’s share price closed at Rs 311.05 on NSE. The 52-week high for Vardhman Textiles Ltd.’s share price was Rs 576, and the 52-week low for the company’s share price was Rs 245.50.
As of July 2022, SBI Magnum Low Duration Fund has a 1.17% stake in Vardhman Textiles Ltd. ICICI Prudential S&P BSE 500 ETF has a 0.03% stake.
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