āagman

Vedant Fashions Ltd

NSE: MANYAVAR
₹501.70
−₹8.15 (−1.60%)
NSE · 21 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹12,631 Cr
CMP
₹501.70
52-wk High / Low
₹699 / 329
P/E
32.7
P/B
6.4
Book Value
₹80.8
Div Yield
1.49%
ROCE
23.0%
ROE
18.8%
Face Value
₹1
D/E
0.23

Price−25.9% over 1Y

āagman read

Computed by āagman
Derived from 11 years and 18 quarters of filings. Not reported by the company.
As of 21 Oct 2026
How we compute these
Piotroski F-Score
5
/ 9
5 of 9 F-score tests passed
Graham Number
₹170
√(22.5 × EPS × book value per share)
ROIC
14.3%
vs 7.7% sector median
Cash flow to profit
1.28
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+46
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
9.6%
ROE × earnings retention ratio
ROE stability
4.2
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.60DII +0.98
Latest quarter vs the previous one
Cash-accrual divergence
−3.8%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 23% vs the 2026 sector median of 13%)
+Price trades above its 200-day moving average (1.1x)
+PE of 32.7x is below the sector median of 41.6x
Watch-outs
−Borrowings are up 1981.8% since FY2016 (22 to 458)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Standalone basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales311218474363240268511367281263492399301
Expenses163125232188127146269202161152274221170
Operating Profit14893242175113122242166121111218179131
OPM %47.6%42.7%51.1%48.2%47.1%45.5%47.4%45.2%43.1%42.2%44.3%44.9%43.5%
Other Income15151524211922222620212630
Interest9111113141414141415141313
Depreciation29323438373739394042444442
Profit before tax1246521214883902121359374181148106
Net Profit92491581166267158101705613511481
EPS (₹)3.802.026.494.772.572.756.504.162.892.315.554.703.32

Profit & Loss

As of 30 Jun 2026
Standalone · ₹ Cr · 12 years + TTM
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024TTMMar 2025Mar 2026TTM
Sales5045967607949155421,0091,3261,368—1,3451,3861,4351,456
Expenses354423526521517307528668709—694744807817
Operating Profit150173234274398235480658658—652643628639
OPM %29.8%29.0%30.8%34.5%43.5%43.4%47.6%49.6%48.1%—48.5%46.4%43.8%43.9%
Other Income2310193258493770—80859397
Interest65642525273044—52555655
Depreciation7810882898897135—147153170172
Profit before tax139164229280323178414567548—533520496509
Net Profit90106149182245131308423414—403388376386
EPS (₹)3.804.475.977.289.795.2712.7017.4217.05—16.5815.9915.4615.88

Balance Sheet

As of 30 Jun 2026
Standalone · ₹ Cr
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024Sep 2024Mar 2025Mar 2026Jun 2026
Equity Capital12122325252524242424—2424—
Reserves2213176838651,0511,0751,0601,3711,5781,503—1,7621,940—
Borrowings229130234204263293444463—483458—
Other Liabilities109154221257281320402473462472—477431—
Total Liabilities3644929401,1471,5911,6231,7492,1612,5082,463—2,7472,853—
Fixed Assets104141316252482446495518663677—688659—
CWIP3512000200—00—
Investments00138195371553524793959765—1,0511,214—
Other Assets2573454856987376247308488861,020—1,008979—
Total Assets3644929401,1471,5911,6231,7492,1612,5082,463—2,7472,853—

Cash Flows

As of 31 Mar 2026
Standalone · ₹ Cr
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity—3752179251253341459483389481
Cash from Investing Activity—−22−279−165−106−9062−228−110−16−102
Cash from Financing Activity—−16224−13−138−165−406−226−362−377−386
Net Cash Flow—0−417−2−3512−4−6

Ratios

As of 31 Mar 2026
11 periods
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—57.044.035.031.015.033.039.031.026.023.0
ROE %——————————18.8
EPS (₹)3.804.475.977.289.795.2712.7017.4217.0515.9915.88
Book Value (₹)——————————80.8
Face Value (₹)——————————1
P/E——————————32.7
Div Yield %——————————1.49
NPM %17.817.719.422.425.921.829.131.028.826.424.6
OPM %30.029.031.034.044.043.048.050.048.046.044.0
D/E0.090.030.020.000.220.190.240.210.280.270.23
P/B——————————6.4

Growth

As of 18 Oct 2026
Compounded sales growth
10 years+11.0%
5 years+21.0%
3 years+3.0%
TTM+2.0%
Compounded profit growth
10 years+15.0%
5 years+23.0%
3 years−5.0%
TTM−3.0%
Stock price CAGR
3 years−27.0%
Last year−25.0%
Return on equity
10 years24.0%
5 years25.0%
3 years22.0%
Last year19.0%

Shareholding pattern

As of 30 Sep 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters84.91%84.91%74.98%74.97%74.97%74.97%74.95%74.95%74.95%74.94%74.94%74.94%74.94%74.94%
FIIs3.46%3.46%7.75%8.13%9.04%9.53%10.54%10.14%9.88%9.76%9.29%8.28%7.95%7.35%
DIIs9.89%9.89%13.73%12.64%11.89%11.57%10.38%10.59%11.10%10.95%12.00%12.62%13.19%14.17%
Government——————————————
Public1.75%1.75%3.55%4.27%4.09%3.93%4.13%4.31%4.07%4.35%3.77%4.14%3.92%3.52%
No. of shareholders61,22061,22074,37992,08383,64475,71971,97173,54575,62180,69881,85284,11983,01680,960
Change since Jun 2023 (pp)
Promoters −9.97FIIs +3.89DIIs +4.28Public +1.77

Documents

As of 18 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPSAnnouncement under Regulation 30 (LODR)-Allotment of ESOP / ESPSShareholder Meeting / Postal Ballot-Scrutinizer''s ReportShareholder Meeting / Postal Ballot-Outcome of AGM
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingMay 2026TranscriptMay 2026PPTFeb 2026TranscriptFeb 2026PPTFeb 2026RecordingNov 2025TranscriptNov 2025PPTAug 2025TranscriptAug 2025PPTAug 2025Recording

Corporate actions

As of 21 Sep 2026
21 Sep 2026DIVIDENDDividend - Rs 7.75 Per Share—
28 Aug 2025DIVIDENDDividend - Rs 8 Per Share—
23 Aug 2024DIVIDENDAnnual General Meeting/Dividend - Rs 8.50 Per Share—
17 Aug 2023DIVIDENDAnnual General Meeting/Dividend - Rs 9 Per Share—
30 Aug 2022DIVIDENDAnnual General Meeting/Dividend - Rs 5 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges.© 2026 āagman