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Vardhman Polytex Limited (VARDMNPOLY) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of Vardhman Polytex Limited ₹2.04, price ₹5.70, upside -64.2%, quality 20 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

Fair value above price? No
Good quality? No
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Consumer Cyclical · IN · ISIN INE835A01011

VP Thin data Sep 27, 2026

Vardhman Polytex Limited

VARDMNPOLY · NSE

Weakest SetupStrongly overvalued and low quality.

!Fair value ₹2.04 · Strongly overvalued (−64.2%)

!Quality 20/100

!Mixed Growth (revenue 5y −12.7 %/yr)

!Thin margins · 3.2% net margin (TTM)

!Negative equity (buybacks among others) · negative free cash flow

!Trails peers (1/9)

!Narrow moat 19/100

!Evidence only low, so the estimate is less certain

26 models, one by oneBear ₹1.28 to bull ₹2.79 Growth analysisrevenue history, year by year Quality 20/100 in detail37 factors, each one shown Compared with its peersrank on every measure, side by side

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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range ₹1.78 – ₹14.89 · fair‑value band ₹1.28 – ₹2.79 · the ₹5.70 price screens above the ₹2.04 fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Vardhman Polytex Limited manufactures and sells yarns and garments in India and internationally. The company operates through Textiles and Real Estate segments. It offers carded, combed, organic, BCI, and SUPIMA cotton yarns; cotton polyester yarns; and grey and dyed value-added yarns.

Stock analysis

Vardhman Polytex Limited (VARDMNPOLY) currently trades at ₹5.70, while our model-based Fair Value estimate is ₹2.04, 64.2% below the price, so the stock looks overvalued today.

Valuation

Bull case: the Multiples group reads highest at a median of ₹2.80 per share, and 0 of the 10 models we run sit above the ₹5.70 price.

Bear case: the Earnings-Based group reads lowest at ₹0.8200, and 10 of the 10 models stay below the price. Evidence for this calculation is low.

Scenario range: ₹1.28 (bear) to ₹2.79 (bull), the price of ₹5.70 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 20/100 (below-average quality), in the Consumer Cyclical sector.

Mixed Growth: Spin-off in 2026: revenue and profit before it include the divested business. Growth is measured afresh from 2026.

Vardhman Polytex Limited reported revenue of ₹2.4B in FY2026 versus ₹9.3B in FY2022, a compound −28.9%/yr. Reported net income was ₹76.8M in FY2026.

Key figures

Market cap ₹3.4B (≈ $35.0M) · P/E ratio 33.5 · P/S ratio 1.09 · EPS (TTM) ₹0.1700 · Net margin 3.2% · Return on assets (EBIT) −3.5% · Operating margin 0.0% · Revenue (TTM) ₹2.4B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 36% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −11% fair-value upside, at −64%, VARDMNPOLY screens richer than that median.

Fair Value models

Bear ₹1.28 Fair Value ₹2.04 Bull ₹2.79

Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹0.0866 per share) are deliberately not added. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.

Highest evidence

Owner Earnings ₹1.20 ₹1.63 ₹2.42 76

EPV ₹0.7100 ₹0.8200 ₹0.9200 74

ROIC Compounder ₹0.7100 ₹0.8200 ₹0.9200 72

All 10 models by family

DCF Models

Owner Earnings ₹1.20 ₹1.63 ₹2.42 76

Earnings-Based

Graham-Dodd ₹1.08 ₹1.32 ₹1.49 67

EPV ₹0.7100 ₹0.8200 ₹0.9200 74

Multiples

P/E Multiple ₹2.62 ₹3.50 ₹4.37 63

P/S Multiple ₹2.03 ₹2.70 ₹3.38 58

EV/EBIT ₹2.10 ₹2.80 ₹3.50 66

EV/EBITDA ₹2.65 ₹3.54 ₹4.42 67

EV/Revenue ₹1.42 ₹2.02 ₹2.63 53

Economic Profit

ROIC Compounder ₹0.7100 ₹0.8200 ₹0.9200 72

Growth Earnings

Growth-Adj P/E ₹1.85 ₹2.64 ₹3.44 67

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Quality Score breakdown

Overall quality 20/100

Of which business quality 19 · Market factors (momentum, volatility) 26

Profitability 32

Margins and returns on capital today

Quality Growth 18

Are margins and returns improving?

Cashflow 0

Earnings quality: real cash, not paper profit

Fin. Strength 2

Balance sheet, leverage, solvency risk

Investment 91

Disciplined investing over empire-building

Low Volatility 60

Calm price path (market factor)

Momentum 16

Price trend over the last 3–12 months (market factor)

52W Momentum 5

Distance to the 52-week high (market factor)

Net Issuance 0

Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 55/100

Spin-off in 2026: revenue and profit before it include the divested business. Growth is measured afresh from 2026.

Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.

−32.5%

Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.

−12.7%

Start year 2020 (pandemic). Over 10 years: −12.0% a year

Revenue growth 19 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.

−0.1%

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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.

−46.9%

Earnings growth per share plus dividend.

Earnings per share, growth per year−46.9%

Dividend (yield on the price)0.0%

Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.1% → 3%

⚠ Revenue per share shrinking 15.5%/yr over ~10Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.

VARDMNPOLY screens overvalued: fair value 64% below the price. Compare with Tongkun Group →

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Peer Groupⓘ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.Textile Manufacturing · 333 stocks

Beats the industry median on 1/9 measures

Overall it trails its industry peers.

Valuation

Quality Score 20 · Bottom 25%

Fair Value upside −64.2% · Bottom 25%

Profitability

Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Return on assets 1.7% · Below median

Net margin (TTM) 3.2% · Above median

Operating margin (TTM) 0.0% · Bottom 25%

Growth and dividend

Revenue growth −20.1% · Bottom 25%

Balance sheet

Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Textile Manufacturing median · lower = cheaper

P/E (TTM) 33.5× · Pricier than median

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

P/S (TTM) 1.42× · Pricier than median

EV/EBITDA 23.7× · Priciest 25%

Context: sector, industry, market

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

Similar stocks

10 more Textile Manufacturing stocks, each showing price versus our Fair Value estimate.

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Tongkun Group 601233	¥23.26	¥14.53	−38%
Shenzhou International Group 2313	HK$34.08	HK$71.99	+111%
Inner Mongolia ERDOS Resources Co 600295	¥12.80	¥14.35	+12%
Far Eastern New Century Corporation 1402	28.15 TWD	24.92 TWD	−11%
K.P.R. Mill Limited KPRMILL	₹1,106	₹901.34	−19%
Zhejiang Orient Holdings 600120	¥4.65	¥2.40	−48%
Welspun Living Limited WELSPUNLIV	₹239.17	₹47.77	−80%
Ruentex Industries Ltd 2915	58.30 TWD	106.63 TWD	+83%
Albany International Corp AIN	$59.61	$25.00	−58%
Bros Eastern.,Ltd 601339	¥7.25	¥7.87	+9%

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Vardhman Polytex Limited · Fair Value
₹2.04 −64%Fair Value
Calculator →

<a href="https://www.fairvalue-calculator.com/stock/VARDMNPOLY" target="_blank" rel="nofollow noopener" style="display:inline-flex;align-items:center;gap:12px;box-sizing:border-box;font-family:system-ui,-apple-system,Segoe UI,Roboto,sans-serif;text-decoration:none;background:#0f1814;color:#eaf2ed;border:1px solid #2a3a30;border-radius:12px;padding:12px 16px;max-width:360px"><span style="line-height:1.35"><span style="font-size:12px;color:#9fb0a8">Vardhman Polytex Limited · Fair Value</span><br><b style="font-size:20px">₹2.04</b> <span style="color:#e0816f;font-weight:700;font-size:14px">−64%</span></span><span style="font-size:11px;color:var(--fvc-g-mitte);font-weight:700;margin-left:auto;text-align:right;line-height:1.3">Fair&nbsp;Value<br>Calculator&nbsp;→</span></a>

Cite: Fair Value Calculator (2026). "Vardhman Polytex Limited Fair Value". https://www.fairvalue-calculator.com/stock/VARDMNPOLY

Frequently asked questions

Is Vardhman Polytex Limited (VARDMNPOLY) overvalued or undervalued?

As of Sep 27, 2026, our model estimates a fair value of ₹2.04 versus a price of ₹5.70, about −64% upside (overvalued).

What is the fair value of VARDMNPOLY?

Our model-based fair value for Vardhman Polytex Limited is ₹2.04 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹5.70.

What is the quality score of VARDMNPOLY?

Vardhman Polytex Limited has a Quality Score of 20/100. 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 price target for Vardhman Polytex Limited (VARDMNPOLY)?

Our model-based price target is the fair value of ₹2.04 (as of Sep 27, 2026) from 10 valuation models. Cautious scenario ₹1.28, optimistic scenario ₹2.79. It is a calculation from audited fundamentals, not an analyst target.

What is the Vardhman Polytex Limited stock forecast for 2026?

Our models put fair value at ₹2.04, about −64% upside versus a price of ₹5.70 (overvalued). Cautious scenario ₹1.28, optimistic scenario ₹2.79. The calculation is refreshed regularly with new filings.

What is the revenue of Vardhman Polytex Limited (VARDMNPOLY)?

Vardhman Polytex Limited reported trailing-twelve-month revenue of about ₹2.4B (latest available figure, as of Sep 27, 2026).

What is the intrinsic value of Vardhman Polytex Limited (VARDMNPOLY)?

Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Vardhman Polytex Limited it is ₹2.04 per share (as of Sep 27, 2026), against a price of ₹5.70. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).

Is Vardhman Polytex Limited stock overvalued or undervalued in 2026?

As of Sep 27, 2026, VARDMNPOLY trades above its calculated fair value: price ₹5.70, fair value ₹2.04, a gap of about −64% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.

Is fair value the same as the market price of VARDMNPOLY?

No. The price is what the market pays today (₹5.70); the fair value is what the company's own numbers justify (₹2.04). For Vardhman Polytex Limited the two are ₹3.66 per share apart. That gap is exactly why we show both numbers side by side.

How much is Vardhman Polytex Limited worth?

The market values Vardhman Polytex Limited at about ₹3.4B (market capitalisation, as of Sep 27, 2026). Per share that is ₹5.70; our models calculate a fair value of ₹2.04 per share.

What do the bullish and bearish scenarios say about VARDMNPOLY?

Our models span a range for Vardhman Polytex Limited: cautious scenario ₹1.28, base ₹2.04, optimistic ₹2.79 per share (as of Sep 27, 2026, price ₹5.70). The range comes from different growth and margin assumptions, not from analyst opinions.

What is the P/E ratio of VARDMNPOLY?

Vardhman Polytex Limited trades at a price-to-earnings ratio of 33.5 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹2.04 is built from several models across several years. Other multiples: P/S 1.4, EV/EBITDA 23.7.

How solid is the balance sheet of Vardhman Polytex Limited (VARDMNPOLY)?

Balance-sheet figures for Vardhman Polytex Limited (as of Sep 27, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 20/100, which measures business quality independently of the share price.

How far is VARDMNPOLY from its 52-week high?

Vardhman Polytex Limited trades at ₹5.70, about 36% below its 52-week high of ₹8.93 and 7% above the low of ₹5.34 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹2.04 is for.

Which stocks are comparable to Vardhman Polytex Limited?

From the same area (Consumer Cyclical) we also value Tongkun Group, Shenzhou International Group, Inner Mongolia ERDOS Resources Co, Far Eastern New Century Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.

Is Vardhman Polytex Limited stock attractive at the current price?

The data as of Sep 27, 2026: price ₹5.70, calculated fair value ₹2.04 (−64%), Quality Score 20/100, from 10 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.

How is the fair value of VARDMNPOLY calculated?

We run Vardhman Polytex Limited through 10 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹2.04, with the spread shown as a cautious and an optimistic scenario.

Is it still worth investing in stocks now?

The global stock market currently sits 14.5 % above its aggregate fair value. Vardhman Polytex Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.

What is the share price of Vardhman Polytex Limited (VARDMNPOLY)?

The closing price on Oct 1, 2026 was ₹5.70. Our model-based fair value is ₹2.04, about −64% upside (overvalued). We carry closing prices from our data provider, not a live tick.

What should I pay attention to with Vardhman Polytex Limited right now?

The price sits above even our optimistic bull case (₹2.79). The favourable scenario is already priced in. Weak quality (20/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (₹1.28 to ₹2.79) leaves room in how you read the outcome.

Key figures of Vardhman Polytex Limited

How large is the market capitalisation of Vardhman Polytex Limited (VARDMNPOLY)?

The market capitalisation of Vardhman Polytex Limited is ₹3.4B (≈ $35.0M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.

What is the P/S ratio of Vardhman Polytex Limited (VARDMNPOLY)?

The price-to-sales ratio of Vardhman Polytex Limited is 1.09 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.

What are the earnings per share of Vardhman Polytex Limited (VARDMNPOLY)?

Earnings per share at Vardhman Polytex Limited are ₹0.1700 (price ÷ EPS = P/E 33.5). Earnings per share over the last twelve months: total profit spread across every single share.

What is the net margin of Vardhman Polytex Limited (VARDMNPOLY)?

The net margin of Vardhman Polytex Limited is 3.2% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.

What is the EBIT return on assets of Vardhman Polytex Limited (VARDMNPOLY)?

On an EBIT basis the return on assets of Vardhman Polytex Limited is −3.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.

What is the operating margin of Vardhman Polytex Limited (VARDMNPOLY)?

The operating margin of Vardhman Polytex Limited is 0.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.

How fast is revenue growing at Vardhman Polytex Limited (VARDMNPOLY)?

Revenue at Vardhman Polytex Limited is growing −20.1% versus a year earlier (3y avg −27.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.

How much free cash flow does Vardhman Polytex Limited (VARDMNPOLY) generate?

The free cash flow of Vardhman Polytex Limited is −₹519M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.

How much net debt does Vardhman Polytex Limited (VARDMNPOLY) carry?

The net debt of Vardhman Polytex Limited is ₹548M (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.

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