Varvee Global Limited
NSE: VGL · Other Textile Products · sector
₹54.84NSE close 2026-10-26
Key numbers
Market cap₹188 cr
Price₹54.84
52w high / low₹85 / ₹44
P/E–Sector median 13.7x
P/B2.4xSector median 1.1x
Book value₹23.0
Dividend yield–Sector median 0.51%
ROE-25.4%Sector median 5.4%
ROCE-0.2%Sector median 7.5%
OPM-17.9%Sector median 6.6%
Debt / equity0.05xSector median 0.43x
EV/EBITDA–Sector median 9.6x
Interest cover-3.4x
Current ratio0.64x
Sales growth 3y-37.8%Sector median +0.6%
Profit growth 3y–Sector median +1.1%
PEG–
Last 12 months to Sep 2026, Consolidated. "Sector median" = middle value of 222 companies in Other Textile Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹4 cr vs borrowings ₹3 cr (FY26): cash is higher (net cash).
- Borrowings fell in each of the last 3 years (₹397 cr → ₹3 cr).
- Operating profit covered interest -3.4x in the last 12 months.
- 15.65% of the promoters' shares are pledged (10.3% of all shares).
- Operating cash flow was below net profit in 1 of the last 5 years (FY26).
- Net loss in 4 of the last 8 quarters.
- Revenue was higher than a year earlier in 3 of the last 4 quarters.
- Debtor days went from 430 (FY24) to 93 (FY26).
- No dividend in the last 5 financial years.
- Price ₹54.84 on 2026-10-26: -35.3% from the 52-week high, +25.5% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹73.56 · low ₹50.91
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6 | 8 | -1 | 28 | 12 | 23 | 8 | 20 |
| EBITDA | -23 | -52 | -1 | 14 | -1 | -6 | -7 | 3 |
| OPM % | -380.5% | -689.3% | 203.6% | 49.8% | -12.1% | -25.2% | -83.2% | 14.5% |
| Other income | 23 | 38 | 7 | 6 | 22 | -15 | 1 | 8 |
| Net profit | -7 | -9 | 25 | 10 | 5 | -29 | -7 | 7 |
| EPS (₹) | -1.48 | -1.89 | 4.95 | 1.98 | 3.68 | -16.64 | -1.27 | 1.32 |
| Revenue YoY | +104.4% | +211.7% | – | -29.5% | ||||
| Profit YoY | – | – | -125.7% | -33.5% |
Consolidated figures where filed. Latest quarter Sep 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 421 | 261 | 85 | 42 | 63 | 63 |
| EBITDA | -10 | -28 | -31 | -90 | 5 | -11 |
| Net profit | -41 | -65 | -45 | 19 | 12 | -23 |
| EPS (₹) | -8.83 | -28.64 | -9.51 | 3.95 | -16.64 | -12.91 |
| Revenue growth | -38.0% | -67.5% | -49.9% | +47.9% | +55.6% | |
| Profit growth | – | – | – | -32.8% | -215.8% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -37.8% | -25.8% | +55.7% |
| Net profit | – | – | -215.8% |
| EPS | – | – | – |
| Share price | – | – (2y) | -21.0% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 61 | 17 | 36 | 77 |
| Borrowings | – | 397 | 278 | 94 | 3 |
| Cash & equivalents | – | 7 | 2 | 15 | 4 |
| Total assets | – | 521 | 438 | 204 | 184 |
| Fixed assets | – | 202 | 72 | 68 | 43 |
| Capital work in progress | – | 1 | 0 | 0 | 1 |
| Investments | – | 0 | 0 | 0 | 10 |
| Receivables | – | 118 | 100 | 8 | 16 |
| Inventory | – | 121 | 90 | 8 | 18 |
| Payables | – | 57 | 52 | 18 | 0 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 13 | 38 | 110 | 27 | 5 |
| Cash from investing | 47 | 14 | 46 | 182 | 28 |
| Cash from financing | -63 | -62 | -156 | -196 | -43 |
| Capex | 2 | 0 | 0 | 0 | 5 |
| Free cash flow | 10 | 38 | 110 | 27 | 0 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | -105.9% | -259.4% | 51.9% | 16.2% |
| ROCE % | – | -11.1% | -12.3% | 35.1% | 24.8% |
| Debtor days | – | 165 | 430 | 67 | 93 |
| Inventory days | – | 230 | 405 | 34 | 296 |
| Payable days | – | 108 | 235 | 78 | 0 |
| Cash conversion cycle (days) | – | 287 | 600 | 23 | 389 |
| Working capital days | – | -55 | -360 | -758 | -175 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 65.63% |
| FIIs | 0.69% |
| DIIs | 1.30% |
| of which Mutual funds | 0.00% |
| of which Insurance | 0.00% |
| Government | 0.00% |
| Public (non-institutions) | 32.38% |
| Quarter | Mar 2025 | May 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 38.77% | 30.56% | 30.56% | 65.63% | 65.63% | 65.63% | 65.63% | 65.63% |
| Promoter group | % |
|---|---|
| Jaimin Kailash Gupta | 52.01% |
| Qmin Industries Limited | 9.07% |
| Agrawal Tarachandbhai | 4.55% |
| Public holders above 1% | % |
|---|---|
| Yashwant Amratlal Thakkar | 2.02% |
| Iepf Authority | 1.50% |
| Sanjay Karanraj Sakaria | 1.21% |
9,381 shareholders. Pledged: 15.65% of promoter shares.
Peers in Other Textile Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| SHRMFGC | ₹77,110 cr | – | – | – | – | – | – | – |
| SIYSIL | ₹43,629 cr | 184.0x | 29.9x | 17.3% | 19.4% | 12.6% | +4.8% | 0.12% |
| KPRMILL | ₹34,532 cr | 37.9x | 6.1x | 17.1% | 19.8% | 19.5% | +2.4% | 0.50% |
| WELSPUNLIV | ₹19,740 cr | 71.8x | 4.0x | 5.7% | 8.0% | 8.7% | +5.1% | 1.06% |
| VTL | ₹14,110 cr | 16.6x | 1.3x | 8.3% | 9.2% | 13.6% | -0.9% | 1.04% |
| TRIDENT | ₹10,513 cr | 26.4x | 2.2x | 8.4% | 10.0% | 12.9% | +1.9% | 2.41% |
| ICIL | ₹7,906 cr | 52.4x | 3.4x | 6.5% | 9.8% | 9.7% | +11.2% | 0.50% |
| GARFIBRES | ₹7,048 cr | 34.0x | 5.2x | 14.6% | 21.4% | 17.7% | +5.4% | 1.33% |
| KUSUMGAR | ₹5,714 cr | – | – | – | – | – | – | – |
| VGL | ₹188 cr | – | 2.4x | -25.4% | -0.2% | -17.9% | -37.8% | – |
Business segments (2026-09-30)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Trading in Other Commodities | ₹12 cr | 59.0% | ₹0 cr | 0.5% |
| Textile Division | ₹4 cr | 23.1% | ₹2 cr | 42.5% |
| Others | ₹4 cr | 17.9% | ₹3 cr | 95.0% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-03-02 | Split | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 5/- Per Share |
| 2023-09-22 | Other | Annual General Meeting |
| 2019-09-24 | Other | Annual General Meeting |
| 2018-09-19 | Other | Annual General Meeting |
| 2017-08-30 | Other | Annual General Meeting |
| 2016-09-19 | Other | Annual General Meeting |
| 2015-09-16 | Other | Annual General Meeting |
| 2014-09-18 | Other | Annual General Meeting |
| 2013-09-19 | Other | Annual General Meeting |
| 2012-08-30 | Dividend | Annual General Meeting And Interim Dividend Re.0.50 Per Share |
| 2011-09-19 | Other | Annual General Meeting |
| 2010-09-23 | Dividend | Final Dividend-Re.0.50 Per Share |
| 2010-08-25 | Dividend | Interim Dividend-Re.0.50 Per Share |
| 2009-10-30 | Other | Int Div-Re.0.50 Per Share |
| 2009-09-17 | Other | Annual General Meeting |
| 2008-09-18 | Other | Annual General Meeting |
| 2007-09-20 | Dividend | Agm/Final Dividend-5% |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Consumer Discretionary |
| Industry | Other Textile Products |
| Sub-industry | Other Textile Products |
| Symbol | VGL |
| BSE code | 514274 |
| ISIN | INE273D01027 |
| Face value | ₹5.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.