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Vadilal Industries Limited (VADILALIND) Fair Value & Analysis

Consumer Defensive · IN · Market cap ₹44.6B

VI Vadilal Industries Limited VADILALIND · NSE
Price₹7,411
Fair Value₹3,417
Upside-53.9%
Quality57/100
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Expensive Growth
Solidly profitable · 10.3% net margin
Low debt · generates free cash flow
0.71% dividend yield
Mixed vs. peers (8/14)
Moderate moat 63/100
Evidence: High Range ₹1,741 – ₹5,365 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 4 days ago

Share price +10.3% over the past month.

A solid business, but screening 54% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹5,365). The favourable scenario is already priced in.
  • The model range is unusually wide (₹1,741 to ₹5,365). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

₹7,781 ₹851.36 Fair Value ₹3,417 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹851.36 – ₹7,781 · fair‑value band ₹1,741 – ₹5,365 · the ₹7,411 price screens above the ₹3,417 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

Vadilal Industries Limited (VADILALIND) currently trades at ₹7,411, while our model-based Fair Value estimate is ₹3,417, implying the stock looks roughly 53.9% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Vadilal Industries Limited generated revenue of ₹15.0B at a net margin of 10.3%. Revenue grew 57.0% year over year. It earns a return on equity of 20.1%. Net debt stands at ₹1.9B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹1,741 (bear case) to ₹5,365 (bull case); at ₹7,411, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 85% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -14% fair-value upside, at -54%, VADILALIND screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹621.28 ₹1,139 ₹2,041 80
Residual Income ₹1,441 ₹1,989 ₹8,774 76
Rev-Margin DCF ₹1,697 ₹3,345 ₹5,541 74
All 26 models by family
DCF Models
FCF DCF ₹630.97 ₹1,210 ₹2,257 38
Owner Earnings ₹1,989 ₹3,785 ₹7,035 31
5Y Revenue Exit ₹1,697 ₹3,433 ₹5,900 39
5Y EBITDA Exit ₹2,353 ₹4,825 ₹8,059 41
5Y P/E Exit ₹2,368 ₹4,858 ₹7,824 38
10Y Revenue Exit ₹1,263 ₹2,809 ₹5,384 36
10Y EBITDA Exit ₹1,782 ₹3,846 ₹7,243 37
10Y P/E Exit ₹1,792 ₹3,870 ₹7,040 35
Earnings-Based
Graham-Dodd ₹1,467 ₹7,498 ₹10,361 54
Lynch FV ₹2,042 ₹2,917 ₹3,793 50
PEG = 1.0 ₹2,042 ₹2,917 ₹3,793 46
EPV ₹1,970 ₹2,300 ₹2,590 59
Dividend Discount
Gordon GGM ₹192.76 ₹400.79 ₹635.81 70
DDM Multi-Stage ₹192.76 ₹337.96 ₹420.64 61
Multiples
P/E Multiple ₹3,399 ₹4,531 ₹5,664 63
P/S Multiple ₹2,509 ₹3,346 ₹4,182 58
P/B Multiple ₹2,751 ₹3,668 ₹4,585 55
EV/EBIT ₹3,532 ₹4,715 ₹5,897 53
EV/EBITDA ₹3,360 ₹4,485 ₹5,610 54
EV/Revenue ₹2,181 ₹3,122 ₹4,063 43
Asset-Based
NCAV (Graham) ₹591.49 ₹792.60 ₹1,183 50
Growth DCF
Growth DCF ₹621.28 ₹1,139 ₹2,041 80
Rev-Margin DCF ₹1,697 ₹3,345 ₹5,541 74
Economic Profit
Residual Income ₹1,441 ₹1,989 ₹8,774 76
ROIC Compounder ₹2,269 ₹3,147 ₹4,339 72
Growth Earnings
Growth-Adj P/E ₹3,082 ₹4,403 ₹5,724 68

Widest divergence: Growth Earnings (₹4,403) versus Dividend Discount (₹337.96). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹15.0B
Revenue growth (YoY) +57.0%
Net margin 10.3%
Return on equity 20.1%
Free cash flow ₹346M FY2026
P/E ratio 34.3
More key figures
Operating margin 17.1%
EPS (TTM) ₹216.04
Dividend yield 0.7%
EPS growth (YoY) +149%
Net debt ₹1.9B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 56 · Market factors (momentum, volatility) 88

Profitability 71
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 22
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 34
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 92
Price trend over the last 3–12 months (market factor)
52W Momentum 97
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Vadilal Industries Limited, together with its subsidiaries, manufactures and sells ice-cream in India and internationally.

Full company description

Vadilal Industries Limited, together with its subsidiaries, manufactures and sells ice-cream in India and internationally. The company offers flavored milk under the Power Sip brand; frozen desserts; processed food products, such as frozen fruits, vegetables, pulp, and ready-to-eat and ready-to-serve products, etc.; and other dairy products, as well as paneer and ghee products. It is also involved in the money changing and chemical businesses. Vadilal Industries Limited was founded in 1907 and is based in Ahmedabad, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Vadilal Industries Limited reported revenue of ₹15.0B in FY2026 versus ₹7.0B in FY2022, a compound +21.2%/yr. Reported net income was ₹1.6B in FY2026, compounding +36.5%/yr from FY2022.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹15.0B
Latest YoY
+21.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.4%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+26.6%
Avg. growth/yr (20Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.7%
Revenue +21.2%/yr
FY22 ₹7.0B
FY23 ₹10.6B
FY24 ₹11.2B
FY25 ₹12.4B
FY26 ₹15.0B
Net income +36.5%/yr
FY22 ₹447M
FY23 ₹963M
FY24 ₹1.5B
FY25 ₹1.5B
FY26 ₹1.6B
Character of growth · EPS growth decomposed (2015-2026) +32.5 % p.a.
Revenue per share +12.5 pp

of which total revenue +12.5 pp · buybacks/dilution +0.0 pp

EBIT margin +15.1 pp
Tax rate +2.3 pp
Residual (interest, one-offs) +2.5 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

VADILALIND screens 54% overvalued. Compare with Nestlé India Limited →

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Cite: Fair Value Calculator (2026). "Vadilal Industries Limited Fair Value". https://www.fairvalue-calculator.com/stock/VADILALIND

Peer Group

Packaged Foods · 651 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 57 · Above median
Fair Value upside −54% · Bottom 25%
Return on equity (TTM) 20% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 10% · Top 25%
Operating margin (TTM) 17% · Top 25%
Revenue growth 57% · Top 25%
Dividend yield (TTM) 0.7% · Bottom 25%
Debt / equity 0.06× · Lower than median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 34.3× · Pricier than 75% of peers
P/B 5.24× · Pricier than 75% of peers
P/S (TTM) 2.97× · Pricier than 75% of peers
P/FCF 1.4× · Cheaper than median
EV/EBITDA 18.0× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 25
FUTURE 100 · sector 20
PAST 80 · sector 28
HEALTH 97 · sector 96
DIVIDEND 14 · sector 55

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,507 ₹362.37 -76%
Britannia Industries Limited BRITANNIA ₹5,646 ₹1,870 -67%
Tata Consumer Products Limited TATACONSUM ₹1,062 ₹327.27 -69%
PT Indofood CBP Sukses Makmur Tbk ICBP 7,550 IDR 12,864 IDR +70%
Samyang Foods Co 003230 1,219,000 KRW 1,010,543 KRW -17%
Patanjali Foods Limited PATANJALI ₹352.60 ₹144.77 -59%
Vietnam Dairy Products Joint Stock Company VNM 61,600 VND 52,858 VND -14%
PT Mayora Indah Tbk, MYOR 1,665 IDR 2,699 IDR +62%
PT Cisarua Mountain Dairy Tbk CMRY 4,630 IDR 4,350 IDR -6%
Nongshim Co 004370 389,500 KRW 530,619 KRW +36%

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Frequently asked questions

Is Vadilal Industries Limited (VADILALIND) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹3,417 versus a price of ₹7,411, about −54% (overvalued).
What is the fair value of VADILALIND?
Our model-based fair value for Vadilal Industries Limited is ₹3,417 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹7,411.
What is the quality score of VADILALIND?
Vadilal Industries Limited has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Vadilal Industries Limited (VADILALIND)?
Vadilal Industries Limited reported trailing-twelve-month revenue of about ₹15.0B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of VADILALIND?
The net profit margin of Vadilal Industries Limited is about 10.3%, meaning it keeps roughly 10.3% of revenue as net income. Based on the latest reported figures.
Does Vadilal Industries Limited pay a dividend?
Vadilal Industries Limited currently shows a dividend yield of about 0.71% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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