VARDHMAN HOLDINGS LIMITED (VHL) financials

VARDHMAN HOLDINGS LIMITED (VHL) NSE/BSE financials on Fincrux: quarterly results, profit and loss, cash flow, balance sheet, ratios, and shareholding.

Incorporated in 1962, Vardhman Holdings Ltd is in the business of lending and investing activities[1]

Market Cap: ₹1,193Cr.
Current Price: ₹3,740
Stock P/E: 25.8
ROE: 4.20%
ROCE: 5.59%
Book Value: ₹3,089
Dividend Yield: 0.13%
52W High / Low: ₹4,290/2,870

In Jun 2026, VARDHMAN HOLDINGS LIMITED (VHL) reported sales ₹10.83 Cr and net profit ₹8.33 Cr.

Annual TTM: sales ₹61 Cr, net profit ₹46 Cr.

Shareholding: Promoters 74.90% (Sep 2026), FIIs 0.05% (Sep 2026), DIIs 0.06% (Sep 2026), Public 24.99% (Sep 2026), No. of Shareholders 10,306% (Sep 2026).

VHL quarterly results (₹ Cr.)
Category	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	40.74	6.57	2.20	3.41	44.47	5.75	0.33	10.83
Expenses	2.52	1.40	0.98	0.32	0.36	0.50	0.85	0.75
Operating Profit	38.22	5.17	1.22	3.09	44.11	5.25	-0.52	10.08
OPM %	93.81%	78.69%	55.45%	90.62%	99.19%	91.30%	-157.58%	93.07%
Other Income	0.48	0.46	0.48	0.45	0.47	0.47	0.48	0.51
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.05	0.00
Depreciation	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00
Profit before tax	38.70	5.62	1.70	3.54	44.58	5.72	-0.09	10.59
Tax %	32.84%	10.14%	24.71%	24.86%	25.50%	20.28%	-188.89%	21.34%
Net Profit	25.99	5.05	1.28	2.66	33.21	4.56	0.08	8.33
EPS in Rs	81.44	15.82	4.01	8.33	104.06	14.29	0.25	26.10
Raw PDF	—	—	—	—	—	—	—	—

VHL profit and loss (₹ Cr.)
Category	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	39	20	115	6	44	56	54	61
Expenses	6	2	3	4	4	6	2	2
Operating Profit	33	18	112	2	40	50	52	59
OPM %	85%	89%	97%	26%	90%	89%	96%	96%
Other Income	1	1	2	2	2	2	2	2
Interest	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0
Profit before tax	35	19	114	3	42	52	54	61
Tax %	4%	20%	27%	-104%	22%	29%	25%	—
Net Profit	33	15	83	7	33	37	40	46
EPS in Rs	104.34	47.16	261.19	21.62	102.62	115.34	126.87	144.70
Dividend Payout %	0%	11%	2%	23%	5%	4%	4%	—

VHL balance sheet (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	3	3	3	3	3	3	3	3
Reserves	598	600	666	791	874	918	937	983
Borrowings	0	0	0	0	0	0	0	0
Other Liabilities	5	4	2	1	1	1	1	4
Total Liabilities	607	607	671	795	878	922	941	989
Fixed Assets	3	3	3	3	3	3	3	3
CWIP	0	0	0	0	0	0	0	0
Investments	556	457	530	755	842	893	928	978
Other Assets	48	147	137	36	32	25	10	8
Total Assets	607	607	671	795	878	922	941	989

VHL cash flows (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	29	-68	82	77	1	26	28	36
Cash from Investing Activity	-26	72	-10	-150	2	-25	-29	-34
Cash from Financing Activity	-2	-2	-0	-2	-2	-2	-2	-2
Net Cash Flow	1	2	72	-75	2	-0	-2	-0
Free Cash Flow	29	-68	82	77	1	26	28	36
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	100%	-187%	487%	88%	263%	82%	70%	88%

VHL shareholding pattern (%)
Category	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%
FIIs	0.07%	0.06%	0.06%	0.05%	0.05%	0.05%	0.05%	0.05%
DIIs	0.06%	0.06%	0.06%	0.06%	0.07%	0.07%	0.07%	0.06%
Public	24.98%	24.98%	24.99%	24.99%	24.99%	24.99%	24.99%	24.99%
No. of Shareholders	11,119	11,330	11,239	11,194	10,846	10,688	10,446	10,306

VHL key ratios
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	0	0	0	0	0	0	0	0
Inventory Days	—	—	—	—	—	—	—	—
Days Payable	—	—	—	—	—	—	—	—
Cash Conversion Cycle	0	0	0	0	0	0	0	0
Working Capital Days	5	922	372	28	569	80	37	41
ROCE %	5%	6%	3%	16%	0%	5%	6%	6%

VHLUpdated 18 Oct 2026, 12:05

Vardhman Holdings Limited

VHLUpdated 18 Oct 2026, 12:05

Market Cap

₹1,193Cr.

Current Price

₹3,740

High / Low

₹4,290/2,870

Stock P/E

25.8

ROE4.20%

ROCE5.59%

Book Value₹3,089

Face Value₹10.0

Dividend Yield0.13%

About

Incorporated in 1962, Vardhman Holdings Ltd is in the business of lending and investing activities[1]

Quarterly results

Last reported quarters₹ Cr.

Quarter	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Jun 2023	5.9	0	0.47	0.44	0	5.87	23.85	4.47	14.01
Sep 2023	30.27	0	0.74	0.51	0	30.04	23.14	23.09	72.35
Dec 2023	7.73	0	0.4	0.38	0	7.71	11.02	6.86	21.49
Mar 2024	0.07	0	2.72	1.15	0	-1.5	10.67	-1.66	-5.2
Jun 2024	6.6	0	1.28	0.44	0	5.76	22.05	4.49	14.07
Sep 2024	40.74	0	2.52	0.48	0	38.7	32.84	25.99	81.44
Dec 2024	6.57	0	1.4	0.46	0.01	5.62	10.14	5.05	15.82
Mar 2025	2.2	0	0.98	0.48	0	1.7	24.71	1.28	4.01
Jun 2025	3.41	0	0.32	0.45	0	3.54	24.86	2.66	8.33
Sep 2025	44.47	0	0.36	0.47	0	44.58	25.5	33.21	104.06
Dec 2025	5.75	0	0.5	0.47	0	5.72	20.28	4.56	14.29
Mar 2026	0.33	0.05	0.85	0.48	0	-0.09	-188.89	0.08	0.25
Jun 2026	10.83	0	0.75	0.51	0	10.59	21.34	8.33	26.1

Profit & loss

Annual statement₹ Cr.

Year	Sales	Expenses	Other Income	Profit Before Tax	Tax	Net Profit	EPS (₹)
Mar 2015	30	1	2	31	3	30	94.94
Mar 2016	52	4	1	49	3	48	150.93
Mar 2017	189	2	2	188	3	182	569.14
Mar 2018	49	3	1	47	5	45	140.15
Mar 2019	32	3	1	30	1	30	94.78
Mar 2020	39	6	1	35	4	33	104.34
Mar 2021	20	2	1	19	20	15	47.16
Mar 2022	115	3	2	114	27	83	261.19
Mar 2023	6	4	2	3	-104	7	21.62
Mar 2024	44	4	2	42	22	33	102.62
Mar 2025	56	6	2	52	29	37	115.34
Mar 2026	54	2	2	54	25	40	126.87
TTM	61	2	2	61	—	46	144.7

Shareholding pattern

As of Sep 2026%

Holder	Share
Promoters	74.9%
FIIs	0.05%
DIIs	0.06%
Public	24.99%

Shareholding trend

Ownership over time%

Quarter	Promoters	FIIs	DIIs	Government	Public
Dec 2023	74.9%	0.03%	0.97%	—	24.1%
Mar 2024	74.9%	0.03%	0.56%	—	24.51%
Jun 2024	74.9%	0.06%	0.53%	—	24.51%
Sep 2024	74.9%	0.06%	0.13%	—	24.9%
Dec 2024	74.9%	0.07%	0.06%	—	24.98%
Mar 2025	74.9%	0.06%	0.06%	—	24.98%
Jun 2025	74.9%	0.06%	0.06%	—	24.99%
Sep 2025	74.9%	0.05%	0.06%	—	24.99%
Dec 2025	74.9%	0.05%	0.07%	—	24.99%
Mar 2026	74.9%	0.05%	0.07%	—	24.99%
Jun 2026	74.9%	0.05%	0.07%	—	24.99%
Sep 2026	74.9%	0.05%	0.06%	—	24.99%

Balance sheet

Assets & liabilities₹ Cr.

Period	Equity Capital	Reserves	Other Liabilities	Total Liabilities	Fixed Assets	Investments	Other Assets	Total Assets
Mar 2015	3	228	2	233	1	228	5	233
Mar 2016	3	275	2	280	1	271	9	280
Mar 2017	3	455	5	463	1	416	46	463
Mar 2018	3	594	3	601	3	552	46	601
Mar 2019	3	598	5	607	3	556	48	607
Mar 2020	3	600	4	607	3	457	147	607
Mar 2021	3	666	2	671	3	530	137	671
Mar 2022	3	791	1	795	3	755	36	795
Mar 2023	3	874	1	878	3	842	32	878
Mar 2024	3	918	1	922	3	893	25	922
Mar 2025	3	937	1	941	3	928	10	941
Mar 2026	3	983	4	989	3	978	8	989

Cash flows

Operating, investing & financing₹ Cr.

Period	Operating	Investing	Financing	Net cash flow
Mar 2015	22	-21	-1	0
Mar 2016	38	-36	-1	0
Mar 2017	-34	36	-1	1
Mar 2018	24	-21	-2	0
Mar 2019	29	-26	-2	1
Mar 2020	-68	72	-2	2
Mar 2021	82	-10	0	72
Mar 2022	77	-150	-2	-75
Mar 2023	1	2	-2	2
Mar 2024	26	-25	-2	0
Mar 2025	28	-29	-2	-2
Mar 2026	36	-34	-2	0

Key ratios

Historical financial ratios

Category	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	0	0	0	0	0	0	0	0	0	0	0	0
Inventory Days	—	—	—	—	—	—	—	—	—	—	—	—
Days Payable	—	—	—	—	—	—	—	—	—	—	—	—
Cash Conversion Cycle	0	0	0	0	0	0	0	0	0	0	0	0
Working Capital Days	24	20	72	23	5	922	372	28	569	80	37	41
ROCE %	14%	19%	51%	9%	5%	6%	3%	16%	0%	5%	6%	6%

Frequently asked questions

Quick answers about this company's financials on Fincrux

What is the market cap of VARDHMAN HOLDINGS LIMITED (VHL)?

The reported market capitalisation for VARDHMAN HOLDINGS LIMITED (VHL) is ₹1,193Cr. on Fincrux. Figures may update with market data and filings.

What is the current share price of VHL?

The current price shown for VARDHMAN HOLDINGS LIMITED (VHL) on Fincrux is ₹3,740 with a 52-week high/low of ₹4,290/2,870.

What is the P/E ratio of VARDHMAN HOLDINGS LIMITED (VHL)?

The stock P/E for VARDHMAN HOLDINGS LIMITED (VHL) is 25.8 on Fincrux, with ROE at 4.20% and ROCE at 5.59%.

What were VHL latest quarterly results?

For Jun 2026, VARDHMAN HOLDINGS LIMITED (VHL) reported sales ₹10.83 Cr and net profit ₹8.33 Cr (figures in ₹ crore unless noted).

What are VHL annual sales and net profit?

For TTM, VARDHMAN HOLDINGS LIMITED (VHL) shows sales of ₹61 Cr and net profit of ₹46 Cr on the Fincrux profit & loss statement.

Who owns VARDHMAN HOLDINGS LIMITED (VHL)?

Latest shareholding for VARDHMAN HOLDINGS LIMITED (VHL) on Fincrux: Promoters 74.90% (Sep 2026), FIIs 0.05% (Sep 2026), DIIs 0.06% (Sep 2026), Public 24.99% (Sep 2026), No. of Shareholders 10,306% (Sep 2026).

Where can I find VARDHMAN HOLDINGS LIMITED (VHL) financials?

VARDHMAN HOLDINGS LIMITED (VHL) financials on Fincrux include quarterly results, profit and loss, cash flow, balance sheet, key ratios, and shareholding patterns for NSE/BSE research.

Does Fincrux show VHL balance sheet and cash flow?

Yes. The VARDHMAN HOLDINGS LIMITED (VHL) page on Fincrux includes balance sheet, cash flow statements, historical ratios, and ownership trends alongside quarterly and annual results.

Figures in ₹ crore unless noted. Data sourced for research and may lag filings.

Last updated 18 October 2026 at 12:05