Vardhman Holdings Limited
NSE: VHL · Investment Company · sector
₹3,338.40NSE close 2026-10-26
Key numbers
Market cap₹1,065 cr
Price₹3,338.40
52w high / low₹4,275 / ₹2,870
P/E23.1xSector median 24.0x
P/B1.1xSector median 0.7x
Book value₹3,090.6
Dividend yield0.15%Sector median 0.54%
ROE4.8%Sector median 1.2%
ROA4.67%Sector median 0.93%
Gross NPA–
Net NPA–
CET1–
Sales growth 3y+109.3%Sector median +13.4%
Profit growth 3y+80.4%Sector median +13.1%
PEG0.29x
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 59 companies in Investment Company (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- No promoter shares are pledged.
- Total income was higher than a year earlier in 2 of the last 4 quarters.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹3,338.40 on 2026-10-26: -21.9% from the 52-week high, +16.3% 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 ₹5,120.60 · low ₹2,923.75
Total incomeNet profit
Total incomeNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Total income | 41 | 7 | 2 | 3 | 44 | 6 | 0 | 11 |
| Net interest income | 41 | 7 | 2 | 3 | 44 | 6 | 0 | 11 |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Net profit | 26 | 5 | 1 | 3 | 33 | 5 | 0 | 8 |
| EPS (₹) | 81.43 | 15.81 | 4.03 | 8.36 | 104.03 | 14.27 | 0.22 | 26.07 |
| Revenue YoY | +9.2% | -12.3% | -85.0% | +217.6% | ||||
| Profit YoY | +27.8% | -9.7% | -93.8% | +213.2% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 115 | 6 | 44 | 56 | 54 | 61 |
| Net profit | 83 | 7 | 33 | 37 | 40 | 46 |
| EPS (₹) | 261.18 | 21.62 | 102.61 | 115.34 | 126.88 | 144.59 |
| Revenue growth | -94.9% | +646.7% | +27.6% | -3.8% | +16.0% | |
| Profit growth | -91.7% | +374.6% | +12.4% | +10.0% | +32.0% | |
| Dividend / share (₹) | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +109.3% | +22.2% | +16.0% |
| Net profit | +80.4% | – | +32.0% |
| EPS | +80.4% | +21.9% | – |
| Share price | – | -11.6% (2y) | -12.1% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 877 | 921 | 940 | 986 |
| Borrowings | – | 0 | 0 | 0 | 0 |
| Cash & equivalents | – | 4 | 4 | 2 | 2 |
| Total assets | – | 878 | 922 | 941 | 989 |
| Fixed assets | – | 3 | 3 | 3 | 3 |
| Capital work in progress | – | 0 | 0 | – | 0 |
| Inventory | – | 0 | 0 | 0 | 0 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 78 | 1 | 26 | 28 | 36 |
| Cash from investing | -150 | 2 | -25 | -29 | -34 |
| Cash from financing | -2 | -2 | -2 | -2 | -2 |
| Capex | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | 78 | 1 | 26 | 28 | 36 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 0.8% | 3.6% | 3.9% | 4.1% |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 74.90% |
| FIIs | 0.05% |
| DIIs | 0.06% |
| of which Mutual funds | 0.06% |
| Public (non-institutions) | 24.99% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 74.90% | 74.90% | 74.90% | 74.90% | 74.90% | 74.90% | 74.90% | 74.90% |
| Promoter group | % |
|---|---|
| Devakar Investment and Trading Company Private Limited | 34.29% |
| Adishwar Enterprises LLP | 32.86% |
| Shri Paul Oswal | 1.78% |
| Flamingo Finance and Investment Company Limited | 1.59% |
| Ramaniya Finance and Investment Company Limited | 0.92% |
| Suchita Jain | 0.89% |
| Shakun Oswal | 0.60% |
| Northern Trading Company | 0.43% |
| Santon Finance and Investment Company Limited | 0.38% |
| Mahavir Spinning Mills Private Limited | 0.32% |
| Eastern Trading Company | 0.31% |
| Paras Syndicate | 0.24% |
| Amber Syndicate | 0.21% |
| Sachit Jain | 0.07% |
| Soumya Jain | 0.00% |
| Public holders above 1% | % |
|---|---|
| Anil Kumar Goel | 4.79% |
| Seema Goel | 2.05% |
| CD Equifinance Private Limited | 1.97% |
| Shelly Desai | 1.05% |
10,306 shareholders. Pledged: 0.00% of promoter shares.
Peers in Investment Company
| Company | Market cap | P/E | P/B | ROE | ROA | Gross NPA | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| YAMNINV | ₹25,76,059 cr | 24.5x | 37,152.7x | 0.1% | 0.05% | – | +14.7% | – |
| TVSHLTD | ₹10,37,013 cr | 3,252.4x | 591.1x | 18.9% | 8.80% | – | -37.1% | 0.02% |
| JIOFIN | ₹1,35,516 cr | 160.3x | 3.8x | 2.6% | 2.34% | – | – | 0.24% |
| ABCAPITAL | ₹96,531 cr | 27.8x | 3.4x | 12.3% | 1.95% | – | +330.8% | – |
| TATAINVEST | ₹28,000 cr | 105.6x | 1.0x | 1.3% | 1.16% | – | +13.4% | 0.49% |
| CHOLAHLDNG | ₹23,552 cr | 324.1x | 16.8x | 5.3% | 5.18% | – | +2.3% | 0.11% |
| MAHSCOOTER | ₹13,529 cr | 44.4x | 0.4x | 0.9% | 0.83% | – | +13.1% | 1.85% |
| JSWHL | ₹12,536 cr | 101.6x | 0.4x | 0.4% | 0.34% | – | -23.9% | – |
| RELIGARE | ₹7,147 cr | – | 2.9x | -1.6% | -1.45% | – | -43.2% | – |
| VHL | ₹1,065 cr | 23.1x | 1.1x | 4.8% | 4.67% | – | +109.3% | 0.15% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-28 | Dividend | Dividend - Rs 5 Per Share |
| 2025-09-12 | Dividend | Dividend - Rs 5 Per Share |
| 2024-09-06 | Dividend | Annual General Meeting/Dividend - Rs 5 Per Share |
| 2023-09-15 | Dividend | Annual General Meeting/Dividend - Rs 5 Per Share |
| 2022-09-16 | Dividend | Annual General Meeting/Dividend - Rs 5 Per Share |
| 2021-09-16 | Dividend | Annual General Meeting/Dividend - Rs 5 Per Share |
| 2020-09-16 | Other | Annual General Meeting |
| 2019-09-18 | Dividend | Annual General Meeting/Dividend - Rs 5 Per Share |
| 2018-09-12 | Dividend | Annual General Meeting/Dividend Rs 5 Per Share |
| 2017-09-07 | Dividend | Dividend - Rs 5 Per Share |
| 2016-08-11 | Dividend | Annual General Meeting/ Dividend * Rs 3/- Per Share |
| 2015-08-05 | Dividend | Annual General Meeting/Dividend Rs 3/- Per Share |
| 2014-08-25 | Dividend | Annual Book Closure / Annual General Meeting / Dividend - Rs 3/- Per Share |
| 2013-08-14 | Dividend | Annual General Meeting / Dividend Rs 3 Per Share |
| 2012-08-16 | Dividend | Annual General Meeting / Dividend Rs 2.50 Per Share |
| 2011-07-08 | Dividend | Annual General Meeting And Dividend Rs. 2.50 Per Share |
| 2010-06-29 | Dividend | Dividend-Rs.2/- Per Share |
| 2009-07-09 | Dividend | Agm/Dividend - 20% |
| 2008-08-11 | Dividend | Agm/Dividend - 20% |
| 2007-08-14 | Other | Annual Book Closure |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- The Company is a Middle Layer Non-deposit taking NBFC registered with Reserve Bank of India.: The Company operates primarily as an Investment Company, not accepting any public deposits.
| Sector | Financial Services |
| Industry | Investment Company |
| Sub-industry | Investment Company |
| Symbol | VHL |
| BSE code | 500439 |
| ISIN | INE701A01023 |
| Face value | ₹10.0 |
| Incorporated | 1962-12-27 |
| Website | www.vardhman.com |
| Plants (India / abroad) | 0 / 0 |
From the company's filings (BRSR FY26).
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.