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Vardhman Acrylics Limited

ISIN : INE116G01013
NSE : VARDHACRLC
Face Value : 10
Industry : Textile - Manmade Fibres

EPS : 2.18
EPS (TTM) : 2.09
Price to Earning (P/E) : 18.47
Book Value : 30.23
Price to Bookvalue (P/B) : 1.33
Dividend Yield : 5 %
Return on Equity (ROE) : 7.18 %
Return on Capital Employed (ROCE) : 8.84 %

Vardhman Acrylics share price (28-Mar-2025)
National Stock Exchange NSE
Open / Close	40.5 - 40.26 -0.6 %
Low / High	40.17 - 41.45 3.2 %
Trade Volume	93,084
52 Week Low / High	0 - 0 NAN %

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Consolidated Standalone

CONSOLIDATED QUARTERLY RESULT FOR VARDHMAN ACRYLICS LIMITED

Date End	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
No of months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months
Net Sales	1192.9	1185.9	1081.8	806	808	864.1	618.9	683.8	570.5	706.2
Total Income	1221.9	1215.1	1118.5	839.1	843.4	903.6	648.5	719.6	611.4	741.1
Total Expenditure	1054.3	1110.3	967.3	773.9	823	810.9	570.3	638.2	549.2	698.6
Other Income	29	29.2	36.7	33.1	35.4	39.5	29.6	35.8	40.9	34.9
Operating Profit	167.6	104.8	151.2	65.2	20.4	92.7	78.2	81.4	62.2	42.5
Interest	0.9	0.6	0.7	0.7	0.6	0.7	0.3	1.3	0.6	0.6
PBDT	166.7	104.2	150.5	64.5	19.8	92	77.9	80.1	61.6	41.9
Depreciation	13.6	13.8	13.9	13.6	14	14.2	14.6	13.6	7.3	7.6
Profit Before Tax	153.1	90.4	136.6	50.9	5.8	77.8	63.3	66.5	54.3	34.3
Tax	36	21.4	33.2	11.7	1.2	16	7.3	13.6	10.9	18.7
Profit After Tax	117.1	69	103.4	39.2	4.6	61.8	56	52.9	43.4	15.6
Net Profit	117.1	69	103.4	39.2	4.6	61.8	56	52.9	43.4	15.6
Equity Capital	803.6	803.6	803.6	803.6	803.6	803.6	803.6	803.6	803.6	803.6
Face Value (IN RS)	10	10	10	10	10	10	10	10	10	10
Reserves	1436.6	1505.7	1608.9	1649.9	1654.5	1716.3	1572.8	1626.1	1669.5	1524.3
Calculated EPS	1.46	0.86	1.29	0.49	0.06	0.77	0.7	0.66	0.54	0.19
Diluted Eps After Extraordinary Items	1.46	0.86	1.29	0.49	0.06	0.77	0.72	0.64	0.54	0.19
Diluted Eps Before Extraordinary Items	1.46	0.86	1.29	0.49	0.06	0.77	0.72	0.64	0.54	0.19

STANDALONE QUARTERLY RESULT FOR VARDHMAN ACRYLICS LIMITED

Date End	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
No of months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months
Net Sales	1192.9	1185.9	1081.8	806	808	864.1	618.9	683.8	570.5	706.2
Total Income	1221.9	1215.1	1118.5	839.1	843.4	903.6	648.5	719.6	611.4	741.1
Total Expenditure	1054.3	1110.3	967.3	773.9	823	810.9	570.3	638.2	549.2	698.6
Other Income	29	29.2	36.7	33.1	35.4	39.5	29.6	35.8	40.9	34.9
Operating Profit	167.6	104.8	151.2	65.2	20.4	92.7	78.2	81.4	62.2	42.5
Interest	0.9	0.6	0.7	0.7	0.6	0.7	0.3	1.3	0.6	0.6
PBDT	166.7	104.2	150.5	64.5	19.8	92	77.9	80.1	61.6	41.9
Depreciation	13.6	13.8	13.9	13.6	14	14.2	14.6	13.6	7.3	7.6
Profit Before Tax	153.1	90.4	136.6	50.9	5.8	77.8	63.3	66.5	54.3	34.3
Tax	36	21.4	33.2	11.7	1.2	16	7.3	13.6	10.9	18.7
Profit After Tax	117.1	69	103.4	39.2	4.6	61.8	56	52.9	43.4	15.6
Net Profit	117.1	69	103.4	39.2	4.6	61.8	56	52.9	43.4	15.6
Equity Capital	803.6	803.6	803.6	803.6	803.6	803.6	803.6	803.6	803.6	803.6
Face Value (IN RS)	10	10	10	10	10	10	10	10	10	10
Reserves	1436.6	1505.7	1608.9	1649.9	1654.5	1716.3	1572.8	1626.1	1669.5	1524.3
Calculated EPS	1.46	0.86	1.29	0.49	0.06	0.77	0.7	0.66	0.54	0.19
Diluted Eps After Extraordinary Items	1.46	0.86	1.29	0.49	0.06	0.77	0.72	0.64	0.54	0.19
Diluted Eps Before Extraordinary Items	1.46	0.86	1.29	0.49	0.06	0.77	0.72	0.64	0.54	0.19

Consolidated Standalone

CONSOLIDATED ANNUAL RESULT FOR VARDHMAN ACRYLICS LIMITED

Date End	Mar 2022	Mar 2023	Mar 2024
No of months	12 months	12 months	12 months
Net Sales	3033.3	4266.6	2974.8
Total Income	3177.3	4394.6	3115.1
Total Expenditure	2944.9	3905.8	2842.4
Other Income	144	128	140.3
Operating Profit	232.4	488.8	272.7
Interest	3.9	2.9	2.9
PBDT	228.5	485.9	269.8
Depreciation	54.2	54.9	56.3
Profit Before Tax	174.3	431	213.5
Tax	28.7	102.4	38.1
Profit After Tax	145.6	328.6	175.4
Net Profit	145.6	328.6	175.4
Equity Capital	803.6	803.6	803.6
Face Value (IN RS)	10	10	10
Reserves	1319.5	1649.9	1626.1
Calculated EPS	1.81	4.09	2.18
Diluted Eps After Extraordinary Items	1.81	4.09	2.18
Diluted Eps Before Extraordinary Items	1.81	4.09	2.18

STANDALONE ANNUAL RESULT FOR VARDHMAN ACRYLICS LIMITED

Date End	Mar 2022	Mar 2023	Mar 2024
No of months	12 months	12 months	12 months
Net Sales	3033.3	4266.6	2974.8
Total Income	3177.3	4394.6	3115.1
Total Expenditure	2944.9	3905.8	2842.4
Other Income	144	128	140.3
Operating Profit	232.4	488.8	272.7
Interest	3.9	2.9	2.9
PBDT	228.5	485.9	269.8
Depreciation	54.2	54.9	56.3
Profit Before Tax	174.3	431	213.5
Tax	28.7	102.4	38.1
Profit After Tax	145.6	328.6	175.4
Net Profit	145.6	328.6	175.4
Equity Capital	803.6	803.6	803.6
Face Value (IN RS)	10	10	10
Reserves	1319.5	1649.9	1626.1
Calculated EPS	1.81	4.09	2.18
Diluted Eps After Extraordinary Items	1.81	4.09	2.18
Diluted Eps Before Extraordinary Items	1.81	4.09	2.18

Consolidated Standalone

CONSOLIDATED PROFIT / LOSS FOR VARDHMAN ACRYLICS LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Gross Sales	280.19 Cr	303.33 Cr	430.08 Cr	299.63 Cr
Sales	279.84 Cr	303.11 Cr	429.59 Cr	299.63 Cr
Net Sales	280.19 Cr	303.33 Cr	426.66 Cr	297.48 Cr
Increase/Decrease in Stock	7.55 Lk	-7.45 Cr	3.54 Cr	-2.01 Cr
Raw Material Consumed	169.05 Cr	238.53 Cr	279.18 Cr	195.4 Cr
Opening Raw Materials	13.64 Cr	22.4 Cr	10.13 Cr	19.72 Cr
Purchases Raw Materials	174.94 Cr	224.37 Cr	287.14 Cr	184.11 Cr
Closing Raw Materials	22.4 Cr	10.13 Cr	19.72 Cr	8.42 Cr
Other Direct Purchases / Brought in cost	2.86 Cr	1.9 Cr	1.63 Cr	0
Power & Fuel Cost	25.41 Cr	25.37 Cr	59.82 Cr	42.23 Cr
Electricity & Power	22.7 Cr	22.81 Cr	55.76 Cr	37.99 Cr
Employee Cost	16.33 Cr	15.94 Cr	18.04 Cr	20.04 Cr
Salaries, Wages & Bonus	15.18 Cr	14.74 Cr	16.65 Cr	18.56 Cr
Contributions to EPF & Pension Funds	80.51 Lk	87.59 Lk	95.51 Lk	1.03 Cr
Workmen and Staff Welfare Expenses	33.93 Lk	32.49 Lk	43 Lk	45.3 Lk
Other Manufacturing Expenses	6.99 Cr	9.1 Cr	12.83 Cr	12.23 Cr
Repairs and Maintenance	4.34 Cr	5.83 Cr	7.1 Cr	8.13 Cr
General and Administration Expenses	3.49 Cr	4 Cr	4.31 Cr	4.98 Cr
Rent , Rates & Taxes	3.02 Cr	3.36 Cr	3.6 Cr	4.12 Cr
Insurance	26.01 Lk	34.61 Lk	45.04 Lk	48.48 Lk
Professional and legal fees	17.54 Lk	25.56 Lk	19.74 Lk	32.04 Lk
Selling and Distribution Expenses	7.3 Cr	6.04 Cr	8.95 Cr	7.49 Cr
Miscellaneous Expenses	3.86 Cr	2.96 Cr	3.9 Cr	3.88 Cr
Bad debts /advances written off	13.83 Lk	12.68 Lk	4.84 Lk	0
Provision for doubtful debts	0	0	3.53 Lk	12.74 Lk
Loss on disposal of fixed assets(net)	6.69 Lk	19,000	16.19 Lk	18.39 Lk
Loss on foreign exchange fluctuations	54.38 Lk	0	0	0
Total Expenditure	232.51 Cr	294.49 Cr	390.58 Cr	284.24 Cr
Other Income	15.37 Cr	14.4 Cr	12.79 Cr	14.03 Cr
Interest Received	6.73 Cr	2.11 Cr	13.86 Lk	12.72 Lk
Profit on sale of Fixed Assets	0	4.58 Lk	2.36 Lk	4.17 Lk
Profits on sale of Investments	3 Cr	6.09 Cr	3.24 Cr	5.75 Cr
Provision Written Back	27.64 Lk	58.1 Lk	26.78 Lk	22.61 Lk
Foreign Exchange Gains	0	1.97 Cr	3.92 Cr	1.34 Cr
Operating Profit	63.05 Cr	23.24 Cr	48.88 Cr	27.27 Cr
Interest	53.02 Lk	39.03 Lk	29.42 Lk	28.67 Lk
Bank Charges etc	15.68 Lk	34.15 Lk	27.47 Lk	20.67 Lk
PBDT	62.52 Cr	22.85 Cr	48.58 Cr	26.98 Cr
Depreciation	5.42 Cr	5.42 Cr	5.49 Cr	5.63 Cr
Profit Before Taxation & Exceptional Items	57.11 Cr	17.43 Cr	43.1 Cr	21.35 Cr
Profit Before Tax	57.11 Cr	17.43 Cr	43.1 Cr	21.35 Cr
Provision for Tax	14.19 Cr	2.87 Cr	10.24 Cr	3.82 Cr
Current Income Tax	14.51 Cr	5.55 Cr	10.84 Cr	4.06 Cr
Deferred Tax	-31.46 Lk	-2.68 Cr	-59.99 Lk	-24.87 Lk
Profit After Tax	42.92 Cr	14.56 Cr	32.86 Cr	17.54 Cr
Consolidated Net Profit	42.92 Cr	14.56 Cr	32.86 Cr	17.54 Cr
Profit Balance B/F	206.22 Cr	249.14 Cr	62.79 Cr	95.65 Cr
Appropriations	249.14 Cr	263.7 Cr	95.65 Cr	113.18 Cr
Other Appropriation	0	0	0	20.09 Cr
Equity Dividend %	0	250	25	20
Earnings Per Share	5.34	1.81	4.09	2.18
Adjusted EPS	5.34	1.81	4.09	2.18

STANDALONE PROFIT / LOSS FOR VARDHMAN ACRYLICS LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Gross Sales	280.19 Cr	303.33 Cr	430.08 Cr	299.63 Cr
Sales	279.84 Cr	303.11 Cr	429.59 Cr	299.63 Cr
Net Sales	280.19 Cr	303.33 Cr	426.66 Cr	297.48 Cr
Increase/Decrease in Stock	7.55 Lk	-7.45 Cr	3.54 Cr	-2.01 Cr
Raw Material Consumed	169.05 Cr	238.53 Cr	279.18 Cr	195.4 Cr
Opening Raw Materials	13.64 Cr	22.4 Cr	10.13 Cr	19.72 Cr
Purchases Raw Materials	174.94 Cr	224.37 Cr	287.14 Cr	184.11 Cr
Closing Raw Materials	22.4 Cr	10.13 Cr	19.72 Cr	8.42 Cr
Other Direct Purchases / Brought in cost	2.86 Cr	1.9 Cr	1.63 Cr	0
Power & Fuel Cost	25.41 Cr	25.37 Cr	59.82 Cr	42.23 Cr
Electricity & Power	22.7 Cr	22.81 Cr	55.76 Cr	37.99 Cr
Employee Cost	16.33 Cr	15.94 Cr	18.04 Cr	20.04 Cr
Salaries, Wages & Bonus	15.18 Cr	14.74 Cr	16.65 Cr	18.56 Cr
Contributions to EPF & Pension Funds	80.51 Lk	87.59 Lk	95.51 Lk	1.03 Cr
Workmen and Staff Welfare Expenses	33.93 Lk	32.49 Lk	43 Lk	45.3 Lk
Other Manufacturing Expenses	6.99 Cr	9.1 Cr	12.83 Cr	12.23 Cr
Repairs and Maintenance	4.34 Cr	5.83 Cr	7.1 Cr	8.13 Cr
General and Administration Expenses	3.49 Cr	4 Cr	4.31 Cr	4.98 Cr
Rent , Rates & Taxes	3.02 Cr	3.36 Cr	3.6 Cr	4.12 Cr
Insurance	26.01 Lk	34.61 Lk	45.04 Lk	48.48 Lk
Professional and legal fees	17.54 Lk	25.56 Lk	19.74 Lk	32.04 Lk
Selling and Distribution Expenses	7.3 Cr	6.04 Cr	8.95 Cr	7.49 Cr
Miscellaneous Expenses	3.86 Cr	2.96 Cr	3.9 Cr	3.88 Cr
Bad debts /advances written off	13.83 Lk	12.68 Lk	4.84 Lk	0
Provision for doubtful debts	0	0	3.53 Lk	12.74 Lk
Loss on disposal of fixed assets(net)	6.69 Lk	19,000	16.19 Lk	18.39 Lk
Loss on foreign exchange fluctuations	54.38 Lk	0	0	0
Total Expenditure	232.51 Cr	294.49 Cr	390.58 Cr	284.24 Cr
Other Income	15.37 Cr	14.4 Cr	12.79 Cr	14.03 Cr
Interest Received	6.73 Cr	2.11 Cr	13.86 Lk	12.72 Lk
Profit on sale of Fixed Assets	0	4.58 Lk	2.36 Lk	4.17 Lk
Profits on sale of Investments	3 Cr	6.09 Cr	3.24 Cr	5.75 Cr
Provision Written Back	27.64 Lk	58.1 Lk	26.78 Lk	22.61 Lk
Foreign Exchange Gains	0	1.97 Cr	3.92 Cr	1.34 Cr
Operating Profit	63.05 Cr	23.24 Cr	48.88 Cr	27.27 Cr
Interest	53.02 Lk	39.03 Lk	29.42 Lk	28.67 Lk
Bank Charges etc	15.68 Lk	34.15 Lk	27.47 Lk	20.67 Lk
PBDT	62.52 Cr	22.85 Cr	48.58 Cr	26.98 Cr
Depreciation	5.42 Cr	5.42 Cr	5.49 Cr	5.63 Cr
Profit Before Taxation & Exceptional Items	57.11 Cr	17.43 Cr	43.1 Cr	21.35 Cr
Profit Before Tax	57.11 Cr	17.43 Cr	43.1 Cr	21.35 Cr
Provision for Tax	14.19 Cr	2.87 Cr	10.24 Cr	3.82 Cr
Current Income Tax	14.51 Cr	5.55 Cr	10.84 Cr	4.06 Cr
Deferred Tax	-31.46 Lk	-2.68 Cr	-59.99 Lk	-24.87 Lk
Profit After Tax	42.92 Cr	14.56 Cr	32.86 Cr	17.54 Cr
Consolidated Net Profit	42.92 Cr	14.56 Cr	32.86 Cr	17.54 Cr
Profit Balance B/F	206.22 Cr	249.14 Cr	62.79 Cr	95.65 Cr
Appropriations	249.14 Cr	263.7 Cr	95.65 Cr	113.18 Cr
Other Appropriation	0	0	0	20.09 Cr
Equity Dividend %	0	250	25	20
Earnings Per Share	5.34	1.81	4.09	2.18
Adjusted EPS	5.34	1.81	4.09	2.18

Consolidated Standalone

CONSOLIDATED CASH FLOW FOR VARDHMAN ACRYLICS LIMITED

Year End	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Profit Before Tax	57.11 Cr	17.43 Cr	43.1 Cr	21.35 Cr
Adjustment	-9.03 Cr	-6.59 Cr	-2.38 Cr	-6.44 Cr
Changes In working Capital	4.83 Cr	-12.44 Cr	8.3 Cr	-2.27 Cr
Cash Flow after changes in Working Capital	52.91 Cr	-1.6 Cr	49.02 Cr	12.63 Cr
Cash Flow from Operating Activities	39.46 Cr	-9.41 Cr	38.53 Cr	7.6 Cr
Cash Flow from Investing Activities	-82.58 Cr	190.12 Cr	-36.73 Cr	12.03 Cr
Cash Flow from Financing Activitie	-1.1 Cr	-197.82 Cr	-2.61 Cr	-19.5 Cr
Net Cash Inflow / Outflow	-44.22 Cr	-17.11 Cr	-80.86 Lk	13.4 Lk
Opening Cash & Cash Equivalents	62.8 Cr	18.57 Cr	1.47 Cr	65.69 Lk
Closing Cash & Cash Equivalent	18.57 Cr	1.47 Cr	65.69 Lk	79.09 Lk

STANDALONE CASH FLOW FOR VARDHMAN ACRYLICS LIMITED

Year End	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Profit Before Tax	57.11 Cr	17.43 Cr	43.1 Cr	21.35 Cr
Adjustment	-9.03 Cr	-6.59 Cr	-2.38 Cr	-6.44 Cr
Changes In working Capital	4.83 Cr	-12.44 Cr	8.3 Cr	-2.27 Cr
Cash Flow after changes in Working Capital	52.91 Cr	-1.6 Cr	49.02 Cr	12.63 Cr
Cash Flow from Operating Activities	39.46 Cr	-9.41 Cr	38.53 Cr	7.6 Cr
Cash Flow from Investing Activities	-82.58 Cr	190.12 Cr	-36.73 Cr	12.03 Cr
Cash Flow from Financing Activitie	-1.1 Cr	-197.82 Cr	-2.61 Cr	-19.5 Cr
Net Cash Inflow / Outflow	-44.22 Cr	-17.11 Cr	-80.86 Lk	13.4 Lk
Opening Cash & Cash Equivalents	62.8 Cr	18.57 Cr	1.47 Cr	65.69 Lk
Closing Cash & Cash Equivalent	18.57 Cr	1.47 Cr	65.69 Lk	79.09 Lk

Consolidated Standalone

CONSOLIDATED BALANCE SHEET FOR VARDHMAN ACRYLICS LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Share Capital	80.36 Cr	80.36 Cr	80.36 Cr	80.36 Cr
Equity - Authorised	150 Cr	150 Cr	150 Cr	150 Cr
Equity - Issued	80.36 Cr	80.36 Cr	80.36 Cr	80.36 Cr
Equity Paid Up	80.36 Cr	80.36 Cr	80.36 Cr	80.36 Cr
Face Value	10	10	10	10
Total Reserves	318.01 Cr	131.95 Cr	164.99 Cr	162.61 Cr
Capital Reserves	28.17 Cr	28.17 Cr	28.17 Cr	28.17 Cr
Profit & Loss Account Balance	249.14 Cr	62.79 Cr	95.65 Cr	93.09 Cr
General Reserves	40.06 Cr	40.06 Cr	40.06 Cr	40.06 Cr
Reserve excluding Revaluation Reserve	318.01 Cr	131.95 Cr	164.99 Cr	162.61 Cr
Shareholder's Funds	398.37 Cr	212.32 Cr	245.35 Cr	242.98 Cr
Deferred Tax Assets / Liabilities	10.25 Cr	7.56 Cr	6.96 Cr	6.71 Cr
Deferred Tax Assets	37.48 Lk	41.27 Lk	49.57 Lk	61.67 Lk
Deferred Tax Liability	10.62 Cr	7.98 Cr	7.46 Cr	7.33 Cr
Other Long Term Liabilities	11.03 Lk	9.48 Lk	17.07 Lk	11.19 Lk
Long Term Provisions	57.58 Lk	49.17 Lk	52.85 Lk	52.5 Lk
Total Non-Current Liabilities	10.93 Cr	8.15 Cr	7.66 Cr	7.35 Cr
Trade Payables	41.42 Cr	47.31 Cr	54.16 Cr	42.89 Cr
Sundry Creditors	41.42 Cr	47.31 Cr	54.16 Cr	42.89 Cr
Other Current Liabilities	7.55 Cr	7.6 Cr	10.14 Cr	9.47 Cr
Short Term Borrowings	35.78 Lk	2.78 Cr	33.78 Lk	1.14 Cr
Secured ST Loans repayable on Demands	34.13 Lk	0	0	0
Working Capital Loans- Sec	34.13 Lk	0	0	0
Short Term Provisions	180.59 Cr	186.18 Cr	197.02 Cr	201.48 Cr
Provision for Tax	180.51 Cr	186.11 Cr	196.93 Cr	201.03 Cr
Total Current Liabilities	229.92 Cr	243.87 Cr	261.66 Cr	254.98 Cr
Total Liabilities	639.23 Cr	464.34 Cr	514.67 Cr	505.3 Cr
Gross Block	88.27 Cr	90.74 Cr	93.7 Cr	99.36 Cr
Less: Accumulated Depreciation	29.59 Cr	34.9 Cr	39.26 Cr	43.61 Cr
Net Block	58.67 Cr	55.84 Cr	54.44 Cr	55.75 Cr
Capital Work in Progress	20.53 Lk	19.14 Lk	3.93 Cr	1.68 Lk
Non Current Investments	53.2 Cr	56.39 Cr	83.3 Cr	89.41 Cr
Long Term Investment	53.2 Cr	56.39 Cr	83.3 Cr	89.41 Cr
Quoted	50.53 Cr	53.59 Cr	80.23 Cr	86.11 Cr
Unquoted	2.67 Cr	2.8 Cr	3.07 Cr	3.3 Cr
Long Term Loans & Advances	53 Lk	53.3 Lk	1.23 Cr	1.44 Cr
Other Non Current Assets	3.35 Lk	33.88 Lk	37.33 Lk	45.41 Lk
Total Non-Current Assets	112.64 Cr	113.29 Cr	143.28 Cr	147.07 Cr
Currents Investments	178.67 Cr	77.64 Cr	88.33 Cr	79.45 Cr
Quoted	178.67 Cr	77.64 Cr	88.33 Cr	79.45 Cr
Unquoted	2.67 Cr	2.8 Cr	3.07 Cr	3.3 Cr
Inventories	64.2 Cr	76.85 Cr	83.28 Cr	74.95 Cr
Raw Materials	22.4 Cr	10.13 Cr	19.72 Cr	8.42 Cr
Work-in Progress	2.74 Cr	6.24 Cr	6.32 Cr	4.95 Cr
Finished Goods	6.57 Cr	10.53 Cr	6.9 Cr	10.29 Cr
Stores and Spare	8.84 Cr	11.02 Cr	14.03 Cr	12.8 Cr
Sundry Debtors	15.07 Cr	10.57 Cr	13.4 Cr	16.24 Cr
Debtors more than Six months	22.36 Lk	9.57 Lk	4.73 Lk	19.47 Lk
Debtors Others	14.9 Cr	10.52 Cr	13.39 Cr	16.21 Cr
Cash and Bank	102.17 Cr	5.36 Cr	3.69 Cr	3.58 Cr
Cash in hand	44,000	52,000	60,000	49,000
Balances at Bank	102.16 Cr	5.36 Cr	3.68 Cr	3.57 Cr
Other Current Assets	3.93 Cr	12.57 Lk	17.11 Lk	24.35 Lk
Interest accrued and or due on loans	3.56 Cr	2.85 Lk	5.04 Lk	84,000
Prepaid Expenses	33.74 Lk	5.76 Lk	9.44 Lk	12.42 Lk
Short Term Loans and Advances	162.54 Cr	180.51 Cr	182.52 Cr	183.76 Cr
Advances recoverable in cash or in kind	6.03 Cr	10.16 Cr	7.59 Cr	3.11 Cr
Advance income tax and TDS	154.11 Cr	161.98 Cr	172.44 Cr	177.5 Cr
Total Current Assets	526.59 Cr	351.04 Cr	371.4 Cr	358.23 Cr
Net Current Assets (Including Current Investments)	296.66 Cr	107.17 Cr	109.74 Cr	103.25 Cr
Total Assets	639.23 Cr	464.34 Cr	514.67 Cr	505.3 Cr
Contingent Liabilities	1.36 Cr	18.55 Cr	16.96 Cr	39.38 Cr
Total Debt	35.78 Lk	2.78 Cr	33.78 Lk	1.14 Cr
Book Value	0	26.42	30.53	30.23
Adjusted Book Value	49.57	26.42	30.53	30.23

STANDALONE BALANCE SHEET FOR VARDHMAN ACRYLICS LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Share Capital	80.36 Cr	80.36 Cr	80.36 Cr	80.36 Cr
Equity - Authorised	150 Cr	150 Cr	150 Cr	150 Cr
Equity - Issued	80.36 Cr	80.36 Cr	80.36 Cr	80.36 Cr
Equity Paid Up	80.36 Cr	80.36 Cr	80.36 Cr	80.36 Cr
Face Value	10	10	10	10
Total Reserves	318.01 Cr	131.95 Cr	164.99 Cr	162.61 Cr
Capital Reserves	28.17 Cr	28.17 Cr	28.17 Cr	28.17 Cr
Profit & Loss Account Balance	249.14 Cr	62.79 Cr	95.65 Cr	93.09 Cr
General Reserves	40.06 Cr	40.06 Cr	40.06 Cr	40.06 Cr
Reserve excluding Revaluation Reserve	318.01 Cr	131.95 Cr	164.99 Cr	162.61 Cr
Shareholder's Funds	398.37 Cr	212.32 Cr	245.35 Cr	242.98 Cr
Deferred Tax Assets / Liabilities	10.25 Cr	7.56 Cr	6.96 Cr	6.71 Cr
Deferred Tax Assets	37.48 Lk	41.27 Lk	49.57 Lk	61.67 Lk
Deferred Tax Liability	10.62 Cr	7.98 Cr	7.46 Cr	7.33 Cr
Other Long Term Liabilities	11.03 Lk	9.48 Lk	17.07 Lk	11.19 Lk
Long Term Provisions	57.58 Lk	49.17 Lk	52.85 Lk	52.5 Lk
Total Non-Current Liabilities	10.93 Cr	8.15 Cr	7.66 Cr	7.35 Cr
Trade Payables	41.42 Cr	47.31 Cr	54.16 Cr	42.89 Cr
Sundry Creditors	41.42 Cr	47.31 Cr	54.16 Cr	42.89 Cr
Other Current Liabilities	7.55 Cr	7.6 Cr	10.14 Cr	9.47 Cr
Short Term Borrowings	35.78 Lk	2.78 Cr	33.78 Lk	1.14 Cr
Secured ST Loans repayable on Demands	34.13 Lk	0	0	0
Working Capital Loans- Sec	34.13 Lk	0	0	0
Short Term Provisions	180.59 Cr	186.18 Cr	197.02 Cr	201.48 Cr
Provision for Tax	180.51 Cr	186.11 Cr	196.93 Cr	201.03 Cr
Total Current Liabilities	229.92 Cr	243.87 Cr	261.66 Cr	254.98 Cr
Total Liabilities	639.23 Cr	464.34 Cr	514.67 Cr	505.3 Cr
Gross Block	88.27 Cr	90.74 Cr	93.7 Cr	99.36 Cr
Less: Accumulated Depreciation	29.59 Cr	34.9 Cr	39.26 Cr	43.61 Cr
Net Block	58.67 Cr	55.84 Cr	54.44 Cr	55.75 Cr
Capital Work in Progress	20.53 Lk	19.14 Lk	3.93 Cr	1.68 Lk
Non Current Investments	53.2 Cr	56.39 Cr	83.3 Cr	89.41 Cr
Long Term Investment	53.2 Cr	56.39 Cr	83.3 Cr	89.41 Cr
Quoted	50.53 Cr	53.59 Cr	80.23 Cr	86.11 Cr
Unquoted	2.67 Cr	2.8 Cr	3.07 Cr	3.3 Cr
Long Term Loans & Advances	53 Lk	53.3 Lk	1.23 Cr	1.44 Cr
Other Non Current Assets	3.35 Lk	33.88 Lk	37.33 Lk	45.41 Lk
Total Non-Current Assets	112.64 Cr	113.29 Cr	143.28 Cr	147.07 Cr
Currents Investments	178.67 Cr	77.64 Cr	88.33 Cr	79.45 Cr
Quoted	178.67 Cr	77.64 Cr	88.33 Cr	79.45 Cr
Unquoted	2.67 Cr	2.8 Cr	3.07 Cr	3.3 Cr
Inventories	64.2 Cr	76.85 Cr	83.28 Cr	74.95 Cr
Raw Materials	22.4 Cr	10.13 Cr	19.72 Cr	8.42 Cr
Work-in Progress	2.74 Cr	6.24 Cr	6.32 Cr	4.95 Cr
Finished Goods	6.57 Cr	10.53 Cr	6.9 Cr	10.29 Cr
Stores and Spare	8.84 Cr	11.02 Cr	14.03 Cr	12.8 Cr
Sundry Debtors	15.07 Cr	10.57 Cr	13.4 Cr	16.24 Cr
Debtors more than Six months	22.36 Lk	9.57 Lk	4.73 Lk	19.47 Lk
Debtors Others	14.9 Cr	10.52 Cr	13.39 Cr	16.21 Cr
Cash and Bank	102.17 Cr	5.36 Cr	3.69 Cr	3.58 Cr
Cash in hand	44,000	52,000	60,000	49,000
Balances at Bank	102.16 Cr	5.36 Cr	3.68 Cr	3.57 Cr
Other Current Assets	3.93 Cr	12.57 Lk	17.11 Lk	24.35 Lk
Interest accrued and or due on loans	3.56 Cr	2.85 Lk	5.04 Lk	84,000
Prepaid Expenses	33.74 Lk	5.76 Lk	9.44 Lk	12.42 Lk
Short Term Loans and Advances	162.54 Cr	180.51 Cr	182.52 Cr	183.76 Cr
Advances recoverable in cash or in kind	6.03 Cr	10.16 Cr	7.59 Cr	3.11 Cr
Advance income tax and TDS	154.11 Cr	161.98 Cr	172.44 Cr	177.5 Cr
Total Current Assets	526.59 Cr	351.04 Cr	371.4 Cr	358.23 Cr
Net Current Assets (Including Current Investments)	296.66 Cr	107.17 Cr	109.74 Cr	103.25 Cr
Total Assets	639.23 Cr	464.34 Cr	514.67 Cr	505.3 Cr
Contingent Liabilities	1.36 Cr	18.55 Cr	16.96 Cr	39.38 Cr
Total Debt	35.78 Lk	2.78 Cr	33.78 Lk	1.14 Cr
Book Value	0	26.42	30.53	30.23
Adjusted Book Value	49.57	26.42	30.53	30.23

Consolidated Standalone

FINANCIAL RATIOS (CONSOLIDATED) FOR VARDHMAN ACRYLICS LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operational & Financial Ratios
Earnings Per Share (Rs)	5.34	1.81	4.09	2.18
CEPS(Rs)	6.01	2.49	4.77	2.88
DPS(Rs)	0	25	2.5	2
Book NAV/Share(Rs)	49.57	26.42	30.53	30.23
Tax Rate(%)	24.85	16.47	23.76	17.87
Margin Ratios
Core EBITDA Margin(%)	17.02	2.91	8.39	4.42
EBIT Margin(%)	20.57	5.88	10.09	7.22
Pre Tax Margin(%)	20.38	5.75	10.02	7.13
PAT Margin (%)	15.32	4.8	7.64	5.85
Cash Profit Margin (%)	17.25	6.59	8.92	7.73
Performance Ratios
ROA(%)	6.96	2.64	6.71	3.44
ROE(%)	11.39	4.77	14.36	7.18
ROCE(%)	15.26	5.81	18.83	8.84
Asset Turnover(x)	0.45	0.55	0.88	0.59
Sales/Fixed Asset(x)	3.18	3.39	4.66	3.1
Working Capital/Sales(x)	0.94	2.83	3.92	2.9
Efficiency Ratios
Fixed Capital/Sales(x)	0.31	0.3	0.21	0.32
Receivable days	16.01	15.43	10.17	18.06
Inventory Days	81.2	84.86	67.95	96.38
Payable days	103.34	70.08	65.5	91.58
Valuation Parameters
PER(x)	6.86	29.67	10.64	23.37
PCE(x)	6.09	21.63	9.12	17.69
Price/Book(x)	0.74	2.03	1.42	1.69
Yield(%)	0	46.51	5.75	3.92
EV/Net Sales(x)	0.69	1.42	0.81	1.37
EV/Core EBITDA(x)	3.06	18.48	7.08	14.94
EV/EBIT(x)	3.34	24.09	7.98	18.83
EV/CE(x)	0.3	0.92	0.67	1.67
M Cap / Sales	1.05	1.42	0.82	1.38
Growth Ratio
Net Sales Growth(%)	-16.2	8.26	40.66	-30.28
Core EBITDA Growth(%)	18.11	-63.15	110.36	-44.21
EBIT Growth(%)	19.7	-69.08	143.5	-50.13
PAT Growth(%)	-7.24	-66.07	125.68	-46.63
EPS Growth(%)	-7.24	-66.07	125.68	-46.63
Financial Stability Ratios
Total Debt/Equity(x)	0	0.01	0	0
Current Ratio(x)	2.29	1.44	1.42	1.4
Quick Ratio(x)	2.01	1.12	1.1	1.11
Interest Cover(x)	108.71	45.66	147.49	75.47
Total Debt/Mcap(x)	0	0.01	0	0

FINANCIAL RATIOS (STANDALONE) FOR VARDHMAN ACRYLICS LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operational & Financial Ratios
Earnings Per Share (Rs)	5.34	1.81	4.09	2.18
CEPS(Rs)	6.01	2.49	4.77	2.88
DPS(Rs)	0	25	2.5	2
Book NAV/Share(Rs)	49.57	26.42	30.53	30.23
Tax Rate(%)	24.85	16.47	23.76	17.87
Margin Ratios
Core EBITDA Margin(%)	17.02	2.91	8.39	4.42
EBIT Margin(%)	20.57	5.88	10.09	7.22
Pre Tax Margin(%)	20.38	5.75	10.02	7.13
PAT Margin (%)	15.32	4.8	7.64	5.85
Cash Profit Margin (%)	17.25	6.59	8.92	7.73
Performance Ratios
ROA(%)	6.96	2.64	6.71	3.44
ROE(%)	11.39	4.77	14.36	7.18
ROCE(%)	15.26	5.81	18.83	8.84
Asset Turnover(x)	0.45	0.55	0.88	0.59
Sales/Fixed Asset(x)	3.18	3.39	4.66	3.1
Working Capital/Sales(x)	0.94	2.83	3.92	2.9
Efficiency Ratios
Fixed Capital/Sales(x)	0.31	0.3	0.21	0.32
Receivable days	16.01	15.43	10.17	18.06
Inventory Days	81.2	84.86	67.95	96.38
Payable days	103.34	70.08	65.5	91.58
Valuation Parameters
PER(x)	6.86	29.67	10.64	23.37
PCE(x)	6.09	21.63	9.12	17.69
Price/Book(x)	0.74	2.03	1.42	1.69
Yield(%)	0	46.51	5.75	3.92
EV/Net Sales(x)	0.69	1.42	0.81	1.37
EV/Core EBITDA(x)	3.06	18.48	7.08	14.94
EV/EBIT(x)	3.34	24.09	7.98	18.83
EV/CE(x)	0.3	0.92	0.67	1.67
M Cap / Sales	1.05	1.42	0.82	1.38
Growth Ratio
Net Sales Growth(%)	-16.2	8.26	40.66	-30.28
Core EBITDA Growth(%)	18.11	-63.15	110.36	-44.21
EBIT Growth(%)	19.7	-69.08	143.5	-50.13
PAT Growth(%)	-7.24	-66.07	125.68	-46.63
EPS Growth(%)	-7.24	-66.07	125.68	-46.63
Financial Stability Ratios
Total Debt/Equity(x)	0	0.01	0	0
Current Ratio(x)	2.29	1.44	1.42	1.4
Quick Ratio(x)	2.01	1.12	1.1	1.11
Interest Cover(x)	108.71	45.66	147.49	75.47
Total Debt/Mcap(x)	0	0.01	0	0

SHARE HOLDING PATTERN FOR VARDHMAN ACRYLICS LIMITED

Date	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters %	74.97	74.97	74.97	74.97	74.97	74.97	74.97	74.97	74.97	74.97
FII %	0.37	0.38	0.14	0.13	0.13	0.14	0.13	0.16	0.18	0.19
DII %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Public %	24.66	24.64	24.89	24.90	24.90	24.89	24.90	24.87	24.85	24.83

PEER COMPARISON FOR VARDHMAN ACRYLICS LIMITED

No.	Name
1	Indo Rama Synthetics (India) Limited
2	Pasupati Acrylon Limited
3	FUTURA POLYESTERS LTD
4	Banswara Syntex Limited
5	SHREE RAJASTHAN SYNTEX LTD
6	JBF Industries Limited
7	Ganesha Ecosphere Limited
8	Sarla Performance Fibers Limited
9	Vardhman Acrylics Limited

CORPORATE ACTIONS FOR VARDHMAN ACRYLICS

Exchange Date	Purpose	Book Closure Dates
NSE 06-Sep-2024	AGM/DIV - RS 2 PER SH	07-Sep-2024 14-Sep-2024
NSE 15-Sep-2023	AGM/DIV-RS 2.50 PER SH	16-Sep-2023 30-Sep-2023
NSE 16-Sep-2022	ANNUAL GENERAL MEETING	20-Sep-2022 30-Sep-2022