AI assistant
Vardhman Textiles Limted Audit Report / Information 2026
64020_rns_2026-05-07_ddf47502-a14f-4826-94b3-dce91fe40b9e.pdf
Audit Report / Information
Open in viewerOpens in your device viewer
Vardhman
VARDHMAN TEXTILES LIMITED
Delivering Excellence. Since 1965.
CHANDIGARH ROAD
LUDHIANA-141010, PUNJAB
T: +91-161-2228943-48
F: +91-161-2601 048
E: [email protected]
Ref. VTL:SCY:MAY:2026-27
Dated: 07-May-2026
| BSE Limited,
New Trading Ring,
Rotunda Building, P.J. Towers,
Dalal Street, MUMBAI-400001
Scrip Code: 502986 (EQUITY) | The National Stock Exchange of India Ltd,
Exchange Plaza, Bandra-Kurla Complex,
Bandra (East),
MUMBAI-400 051
Scrip Code: VTL |
| --- | --- |
SUB: DISCLOSURE UNDER REGULATION 30, 33 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015.
Dear Sir,
Pursuant to Regulation 30 read with Part A of Schedule III, Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, we are enclosing herewith Audited Financial Results of the Company for the financial year ended 31st March, 2026 together with Auditors’ Report as approved by Board of Directors in its meeting held on 07th May, 2026.
The Board of Directors has recommended a dividend of Rs. 5.00/- per share on fully paid up equity shares of the Company. The payment of dividend is subject to approval by the Members of the Company and shall be paid/ dispatched tentatively within five days of the conclusion of the Annual General Meeting.
The Report of Auditors is with unmodified opinion with respect to the Audited Financial Results of the Company for the financial year ended 31st March, 2026.
The meeting of the Board of Directors commenced at 10:00 a.m. and concluded at 12:45 pm.
Kindly take the same on record.
Thanking you,
Yours faithfully,
For VARDHMAN TEXTILES LIMITED
SANJAY
GUPTA
(SANJAY GUPTA)
COMPANY SECRETARY
YARNS | FABRICS | GARMENTS | THREADS | FIBRES | STEELS
CIN: L17111PB1973PLC003345
WWW.VARDHMAN.COM
Deloitte Haskins & Sells LLP
Chartered Accountants
7th Floor, Building 10, Tower B,
DLF Cyber City Complex,
DLF City Phase - II,
Gurugram - 122 002,
Haryana, India
Phone: +91 124 679 2000
Fax: +91 124 679 2012
INDEPENDENT AUDITOR'S REPORT ON AUDIT OF ANNUAL STANDALONE FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAL RESULTS
TO THE BOARD OF DIRECTORS OF VARDHMAN TEXTILE LIMITED
Opinion and Conclusion
We have (a) audited the Standalone Financial Results for the year ended March 31, 2026 and (b) reviewed the Standalone Financial Results for the quarter ended March 31, 2026 (refer 'Other Matter' section below), which were subject to limited review by us, both included in the accompanying "Statement of Standalone Financial Results for the Quarter & Year Ended March 31, 2026 (the "Statement") of VARDHMAN TEXTILE LIMITED (the "Company"), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "LODR Regulations").
(a) Opinion on Annual Standalone Financial Results
In our opinion and to the best of our information and according to the explanations given to us, the Standalone Financial Results for the year ended March 31, 2026:
i. are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and
ii. gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information of the Company for the year then ended.
(b) Conclusion on Unaudited Standalone Financial Results for the quarter ended March 31, 2026
With respect to the Standalone Financial Results for the quarter ended March 31, 2026, based on our review conducted as stated in paragraph (b) of Auditor's Responsibilities section below, nothing has come to our attention that causes us to believe that the Standalone Financial Results for the quarter ended March 31, 2026, prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
Regd. Office: One International Center, Tower 3, 31st Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai – 400 013, Maharashtra, India. Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP Identification No. AAB-8737
Deloitte Haskins & Sells LLP
Basis for Opinion on the Audited Standalone Financial Results for the year ended March 31, 2026
We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under Section 143(10) of the Companies Act, 2013 (the "Act"). Our responsibilities under those Standards are further described in paragraph (a) of Auditor's Responsibilities section below. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (the "ICAI") together with the ethical requirements that are relevant to our audit of the Standalone Financial Results for the year ended March 31, 2026 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.
Management's and Board of Directors' Responsibilities for the Statement
This Statement which includes the Standalone Financial Results is the responsibility of the Company's Board of Directors and has been approved by them for the issuance. The Standalone Financial Results for the year ended March 31, 2026 has been compiled from the related audited standalone financial statements. This responsibility includes the preparation and presentation of the Standalone Financial Results for the quarter and year ended March 31, 2026 that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the LODR Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Results that give a true and fair view and is free from material misstatement, whether due to fraud or error.
In preparing the Standalone Financial Results, the Board of Directors is responsible for assessing the Company's ability, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors is also responsible for overseeing the financial reporting process of the Company.
Auditor's Responsibilities
(a) Audit of the Standalone Financial Results for the year ended March 31, 2026
Our objectives are to obtain reasonable assurance about whether the Standalone Financial Results for the year ended March 31, 2026 as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
Deloitte Haskins & Sells LLP
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Standalone Financial Results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the Annual Standalone Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
- Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the LODR Regulations.
- Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the Annual Standalone Financial Results, including the disclosures, and whether the Annual Standalone Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
Materiality is the magnitude of misstatements in the Annual Standalone Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Annual Standalone Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Annual Standalone Financial Results.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit.
Deloitte Haskins & Sells LLP
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
(b) Review of the Standalone Financial Results for the quarter ended March 31, 2026
We conducted our review of the Standalone Financial Results for the quarter ended March 31, 2026 in accordance with the Standard on Review Engagements ("SRE") 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the ICAI. A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with SAs specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Other Matter
- The Statement includes the results for the Quarter ended March 31, 2026 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review by us. Our report on the Statement is not modified in respect of this matter.
For Deloitte Haskins & Sells LLP
Chartered Accountants
(Firm's Registration No. 117366W/W-100018)
Kanav Kumar
Digitally signed by
Kanav Kumar
Date: 2026.05.07
12:20:18 +05'30'
Kanav Kumar
(Partner)
(Membership No. 507230)
(UDIN: 26507230EVQCEA5367)
Place: Noida
Date: May 07, 2026
| VARDHMAN TEXTILES LIMITED Registered Office: Chandigarh Road, Ludhiana-141010 | ||||||
|---|---|---|---|---|---|---|
| Standalone Financial Results for the Quarter & Year Ended March 31, 2026 Corporate Identity Number (CIN): L17111PB1973PLC003345 Website:www.vardhman.com Email: [email protected] | ||||||
| S.No. | Particulars | Quarter ended March 31, 2026 | Quarter ended December 31, 2025 | Quarter ended March 31, 2025 | Year Ended March 31, 2026 | Year Ended March 31, 2025 |
| Unaudited | Unaudited | Unaudited | Audited | Audited | ||
| I. II. III. | Revenue from operations | 2,440.66 | 2,451.91 | 2,458.18 | 9,652.33 | 9587.21 |
| Other income | 71.62 | 81.36 | 119.90 | 275.42 | 367.47 | |
| Total income (I+II) | 2,512.28 | 2,533.27 | 2,578.08 | 9,927.75 | 9954.68 | |
| IV. | Expenses | |||||
| Cost of materials consumed | 1,310.17 | 1,286.95 | 1,323.25 | 5,266.66 | 5319.01 | |
| Purchase of stock-in-trade | 0.88 | 1.14 | 0.66 | 26.39 | 4.85 | |
| Change in inventories of finished goods, works-in-progress and stock-in-trade | 12.70 | 113.92 | 45.30 | 37.79 | (36.17) | |
| Employee benefits expense | 235.96 | 233.22 | 213.21 | 908.83 | 867.79 | |
| Finance cost | 23.19 | 26.13 | 22.81 | 92.35 | 77.02 | |
| Depreciation and amortisation expense | 121.95 | 117.55 | 102.68 | 461.64 | 397.92 | |
| Other expenses | 598.25 | 538.46 | 588.08 | 2,193.71 | 2174.57 | |
| Total Expenses | 2,303.10 | 2,317.37 | 2,295.99 | 8,987.37 | 8804.99 | |
| V. | Profit before tax (III-IV) | 209.18 | 215.90 | 282.09 | 940.38 | 1149.69 |
| VI. | Tax expense | |||||
| Current tax | 44.27 | 44.89 | 52.06 | 187.29 | 240.69 | |
| Deferred tax | (14.16) | 1.06 | 1.06 | 13.07 | 29.93 | |
| VII. | Profit after tax (V-VI) | 179.07 | 169.95 | 228.97 | 740.02 | 879.07 |
| VIII. | Other Comprehensive Income | |||||
| Items that will not be reclassified to profit or loss | ||||||
| (a) (i) Remeasurements of the defined benefits plans | (4.90) | 7.58 | 1.03 | 4.99 | 1.03 | |
| (ii) Income tax relating to items that will not be reclassified to profit or loss | 1.23 | (1.91) | (0.26) | (1.26) | (0.26) | |
| (b) (i) Equity instruments through other comprehensive income | 0.34 | - | 0.28 | 0.34 | 0.28 | |
| (ii) Income tax relating to items that will not be reclassified to profit or loss | (0.09) | - | (0.07) | (0.09) | (0.07) | |
| IX. | Total Other Comprehensive Income | (3.42) | 5.67 | 0.98 | 3.98 | 0.98 |
| Total Comprehensive income (VII+VIII) | 175.65 | 175.62 | 229.95 | 744.00 | 880.05 | |
| X. | Earnings Per Share (in Rs.) (not annualized except for the year ended March 31, 2025 and March 31, 2026) | |||||
| Basic and diluted | 6.19 | 5.88 | 7.92 | 25.58 | 30.40 | |
| (See accompanying standalone financial results notes) |
Chartered Accountants
| I. Standalone Statement of Assets and Liabilities as at March 31, 2026
(All amounts in Rs. Crores, unless otherwise stated) | | | |
| --- | --- | --- | --- |
| Sr. No. | Particulars | As at March 31, 2026 | As at March 31, 2025 |
| | | Audited | Audited |
| 1 | ASSETS | | |
| | Non-current assets | | |
| | (a) Property, plant and equipment | 5,016.23 | 4,074.92 |
| | (b) Capital work-in-progress | 586.06 | 251.80 |
| | (c) Right of Use Asset | 7.93 | 8.07 |
| | (d) Intangible assets | 7.37 | 7.37 |
| | (e) Financial assets | | |
| | -Investments | 663.23 | 1,157.95 |
| | -Loans | 0.91 | 1.21 |
| | -Other financial assets | 54.94 | 62.36 |
| 2 | (f) Income tax asset (net) | 91.71 | 76.84 |
| | (g) Other non-current assets | 239.45 | 202.08 |
| | Total Non-current assets | 6,667.83 | 5,842.60 |
| | Current assets | | |
| | (a) Inventories | 3,581.90 | 3,681.80 |
| | (b) Financial assets | | |
| | -Investments | 802.65 | 318.49 |
| | -Trade receivables | 1,294.99 | 1,288.80 |
| | -Cash and cash equivalents | 39.75 | 52.11 |
| | -Bank Balance other than above | 37.36 | 32.63 |
| 1 | -Loans | 1.52 | 2.08 |
| | -Other financial assets | 65.46 | 116.56 |
| | (c) Other current assets | 851.18 | 564.75 |
| | (d) Assets held-for-sale | 0.46 | |
| 2 | Total current assets | 6,675.27 | 6,057.22 |
| | Total Assets (1+2) | 13,343.10 | 11,899.82 |
| | EQUITY AND LIABILITIES | | |
| | Equity | | |
| 1 | (a) Equity share capital | 57.85 | 57.83 |
| | (b) Other equity | 10,129.88 | 9,520.01 |
| 2 | Total equity | 10,187.73 | 9,577.84 |
| | Liabilities | | |
| 3 | Non-current liabilities | | |
| | (a) Financial liabilities | | |
| | -Borrowings | 1230.78 | 748.99 |
| | -Lease liability | 0.20 | 0.19 |
| | -Other financial liabilities | 2.93 | 0.53 |
| | (b) Provisions | 18.28 | 18.97 |
| | (c) Deferred tax liabilities (net) | 291.91 | 278.75 |
| | (d) Other non-current liabilities | 10.58 | 11.68 |
| | Total Non-current liabilities | 1,554.68 | 1,059.11 |
| | Current liabilities | | |
| 3 | (a) Financial Liabilities | | |
| | -Borrowings | 624.17 | 488.91 |
| | -Trade payables | | |
| | (i) Total outstanding dues of micro enterprises and small enterprises | 50.45 | 48.81 |
| | (ii) Total outstanding dues of trade payables other than micro enterprises and small enterprises. | 397.91 | 380.80 |
| | -Other financial liabilities | 411.35 | 240.11 |
| | (b) Other current liabilities | 96.14 | 79.60 |
| | (c) Provisions | 7.01 | 4.56 |
| | (d) Current tax liabilities (net) | 13.66 | 20.08 |
| | Total Current liabilities | 1,600.69 | 1,262.87 |
| | | | |
| | Total Equity and Liabilities (1+2+3) | 13,343.10 | 11,899.82 |
Chartered Accountants
| Particulars | Year ended March 31, 2026 | Year ended March 31, 2025 |
|---|---|---|
| Audited | Audited | |
| A CASH FLOW FROM OPERATING ACTIVITIES | ||
| Profit before tax | 940.38 | 1,149.69 |
| Adjustments for: | ||
| Interest Expense | 76.26 | 58.79 |
| Gain on fair valuation of Investments (Net) | (70.36) | (91.24) |
| Subsidy from Government | (1.38) | (1.55) |
| Interest income | (13.81) | (36.73) |
| Dividend on investments | (67.25) | (50.54) |
| Net gain on sale / discarding of property, plant and equipment | (37.31) | (44.17) |
| (Profit)/Loss on sale of Investments (Net) | (10.83) | (40.94) |
| Provision no longer required written back (net) | (2.90) | (3.36) |
| Assets written off | 3.66 | 1.82 |
| Bad debt written off | 2.36 | 9.95 |
| Allowances for doubtful trade receivables and advances written back (net) | 5.50 | 0.61 |
| Depreciation and amortisation | 461.64 | 397.92 |
| Esop provision created | 5.94 | 8.52 |
| Derivative Financial Instruments | 123.73 | 2.48 |
| Operating profit before working capital changes | 1,415.63 | 1,361.25 |
| Changes in working capital: | ||
| Adjustments for (increase) / decrease in operating assets :- | ||
| Trade receivables | (8.55) | (93.98) |
| Inventories | 99.90 | 425.16 |
| Loans | 0.86 | 0.31 |
| Other assets (Current) | (286.42) | 20.50 |
| Others financial assets (Current) | 51.59 | 2.60 |
| Others financial assets (Non Current) | 2.18 | 18.48 |
| Other assets (Non-current) | (3.88) | (6.17) |
| Adjustments for increase / (decrease) in operating liabilities :- | ||
| Trade payables | 21.65 | 115.57 |
| Provisions (Current and Non Current) | 1.76 | 2.44 |
| Others financial liabilities (Current) | (7.17) | 3.02 |
| Others financial liabilities (Non-Current) | 2.40 | (0.10) |
| Other liabilities (Non-current) | (0.08) | (0.12) |
| Other liabilities (Current) | 21.82 | 5.00 |
| Cash generated/(used) in operating activities before taxes | 1,311.69 | 1,853.96 |
| Income taxes paid (net of refund received) | (209.88) | (235.25) |
| Net cash generated from operating activities | 1,101.81 | 1,618.71 |
| B CASH FLOW FROM INVESTING ACTIVITIES | ||
| Proceeds from sale of Investments | 141.83 | 57.27 |
| Purchase of current investments (net) | (49.74) | (39.38) |
| Interest received | 11.38 | 13.65 |
| Payment for purchase of property, plant and equipment, capital work in progress and other intangible assets | (1,732.45) | (1,028.68) |
| Bank balances not considered as cash and cash equivalents | (3.06) | 12.66 |
| Proceeds from disposal of property, plant and equipment | 51.19 | 63.91 |
| Dividend received from subsidiaries and associates | 64.95 | 50.54 |
| Dividend received from others | 2.30 | - |
| Net cash generated/(used) in investing activities | (1,513.60) | (870.03) |
| C CASH FLOW FROM FINANCING ACTIVITIES* | ||
| Proceeds from equity share capital/share application | 4.55 | - |
| Proceeds from borrowings (non-current) | 661.26 | 421.13 |
| Repayment of borrowings (non-current) | (83.31) | (538.81) |
| Proceeds/(Repayment) of borrowings (current) (net) | 39.10 | (434.46) |
| Dividends on equity share capital paid | (144.54) | (115.59) |
| Interest Expense | (77.63) | (61.84) |
| Net cash generated/(used) in financing activities | 399.43 | (729.57) |
| Net decrease in cash and cash equivalents | (12.36) | 19.11 |
| Cash and cash equivalents at the beginning of the year | 52.11 | 33.00 |
| Cash and cash equivalents at the end of the period | 39.75 | 52.11 |
- There are no non cash changes arising from financing activities.
Chartered Accountants
III. Additional Notes
-
The Financial Results has been prepared in accordance with the Indian Accounting Standards ("Ind AS") prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of Companies (Indian Accounting Standards) Rules, 2015 as amended and requirements of Regulations 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended.
-
The Company is primarily in the business of manufacturing and sales of textile products (i.e., Yarns and Fabrics). The Chief Operating Decision Maker (CODM), the Chairman & Managing Director, performs a detailed review of the operating results, take decisions about the allocation of resources based on the analysis of the various performance indicators of the Company as a whole. Therefore, there is only one operating segment namely, "Textiles".
-
During the year ended March 31, 2026, the company has issued 1,07,000 equity shares having face value of Rs. 2 per share under Employee Stock Options Scheme.
-
The above Financial Results have been reviewed by the Audit Committee at its meeting held on May 06, 2026 and approved by the Board of Directors at its meeting held on May 07, 2026. The statutory auditor's report on review of standalone financial results for the quarter and audit of standalone financial results for the year ended March 31, 2026 is being filed with BSE Limited and National Stock Exchange on India Limited.
-
The figures for the quarter ended March 31, 2026 and March 31, 2025 are the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to third quarter of the financial year. Also, the figures up to the end of third quarter were only reviewed and not subject to audit.
-
Increase in property, plant and equipment mainly includes capitalization of new technical textile unit in Baddi and additional processing line in Budhni during the current quarter, aggregating Rs 570 crores pursuant to commencement of commercial production on March 1, 2026 and March 7, 2026, respectively.
-
The Government of India, vide Notification dated November 21, 2025, has notified the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as "the Labour Codes"), which consolidate and replace existing multiple labour legislations. In accordance with Ind AS 19 – Employee benefits, changes to employee benefit plans resulting from the new labour codes are treated as plan amendments, requiring immediate recognition of past service cost as expense in the statement of profit and loss. This approach is consistent with the guidance issued by the Institute of Chartered Accountants of India. In view of this, the Company has evaluated the impact and recognised past service costs amounting to Rs. 23.58 crores which has been included under employee benefit expenses in the previous quarter ended December 31, 2025. Further, during the current quarter, the Company has made changes to salary structure and recognised additional impact in the past service cost amounting to Rs. 8.90 crores which has been included in employee benefit expenses in the financial results.
Further, the Company continues to monitor developments on the rules to be notified by regulatory authorities, including clarifications/ additional guidance from authorities and will continue to assess the accounting implications basis such developments/ guidance, if required.
-
There is reduction in tax expense in the current quarter, due to reversal of income tax provision of previous years amounting Rs. 16.98 crores due to settlement of certain tax litigations.
-
The board of directors has recommended dividend of Rs. 5 Per share on fully paid up equity shares of the company.
For and on behalf of Board of Directors of Vardhman Textiles Limited
Place : Ludhiana
Date : May 7, 2026
S.P. Oswal
Chairman & Managing Director
(DIN:00121737)
Deloitte Haskins & Sells LLP
Chartered Accountants
7th Floor, Building 10, Tower B,
DLF Cyber City Complex,
DLF City Phase - II,
Gurugram - 122 002,
Haryana, India
Phone: +91 124 679 2000
Fax: +91 124 679 2012
INDEPENDENT AUDITOR'S REPORT ON AUDIT OF ANNUAL CONSOLIDATED FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAL RESULTS
TO THE BOARD OF DIRECTORS OF VARDHMAN TEXTILES LIMITED
Opinion and Conclusion
We have (a) audited the Consolidated Financial Results for the year ended March 31, 2026 and (b) reviewed the Consolidated Financial Results for the quarter ended March 31, 2026 (refer 'Other Matters' section below), which were subject to limited review by us, both included in the accompanying "Statement of Consolidated Financial Results for the Quarter and Year Ended March 31, 2026" of VARDHMAN TEXTILES LIMITED ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net profit after tax and other comprehensive income of its associates for the quarter and year ended March 31, 2026, ("the Statement") being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the LODR Regulations").
(a) Opinion on Annual Consolidated Financial Results
In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the audit reports of the other auditors on separate financial statements of the subsidiaries and associates referred to in Other Matters section below, the Consolidated Financial Results for the year ended March 31, 2026:
(i) includes the results of the following entities:
| Name of the Entity | Relationship |
|---|---|
| Vardhman Textiles Limited | Parent |
| VTL Investments Limited | Wholly owned subsidiary company |
| Vardhman Acrylics Limited | Subsidiary company |
| Vardhman Yarns and Threads Limited | Associate Company |
| Vardhman Special Steels Limited | Associate Company |
| Vardhman Spinning and General Mills Limited | Associate Company |
(ii) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and
(iii) gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the consolidated net profit and consolidated other comprehensive income and other financial information of the Group for the year ended March 31, 2026.
Regd. Office: One International Center, Tower 3, 31st Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai – 400 013, Maharashtra, India. Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP Identification No. AAB-8737
Deloitte Haskins & Sells LLP
(b) Conclusion on Unaudited Consolidated Financial Results for the quarter ended March 31, 2026
With respect to the Consolidated Financial Results for the quarter ended March 31, 2026, based on our review conducted and procedures performed as stated in paragraph (b) of Auditor’s Responsibilities section below and based on the consideration of the review reports of the other auditors referred to in Other Matters section below, nothing has come to our attention that causes us to believe that the Consolidated Financial Results for the quarter ended March 31, 2026, prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
Basis for Opinion on the Audited Consolidated Financial Results for the year ended March 31, 2026
We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under Section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those Standards are further described in paragraph (a) of Auditor’s Responsibilities section below. We are independent of the Group and its associates in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (“the ICAI”) together with the ethical requirements that are relevant to our audit of the Consolidated Financial Results for the year ended March 31, 2026 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us and the audit evidence obtained by the other auditors in terms of their reports referred to in Other Matters section below, is sufficient and appropriate to provide a basis for our audit opinion.
Management’s and Board of Director’s Responsibilities for the Statement
This Statement, which includes the Consolidated Financial Results is the responsibility of the Parent’s Board of Directors and has been approved by them for the issuance. The Consolidated Financial Results for the year ended March 31, 2026, has been compiled from the related audited consolidated financial statements. This responsibility includes the preparation and presentation of the Consolidated Financial Results for the quarter and year ended March 31, 2026 that give a true and fair view of the consolidated net profit and consolidated other comprehensive income and other financial information of the Group including its associates in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the LODR Regulations.
The respective Board of Directors of the companies included in the Group and of its associates are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group and its associates and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the respective financial results that give a true and fair view and are free from material misstatement, whether due
Deloitte Haskins & Sells LLP
to fraud or error, which have been used for the purpose of preparation of this Consolidated Financial Results by the Directors of the Parent, as aforesaid.
In preparing the Consolidated Financial Results, the respective Board of Directors of the companies included in the Group and of its associates are responsible for assessing the ability of the respective entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate their respective entities or to cease operations, or has no realistic alternative but to do so.
The respective Board of Directors of the companies included in the Group and of its associates are responsible for overseeing the financial reporting process of the Group and of its associates.
Auditor's Responsibilities
(a) Audit of the Consolidated Financial Results for the year ended March 31, 2026
Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Results for the year ended March 31, 2026 as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Consolidated Financial Results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the Annual Consolidated Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
- Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the LODR Regulations.
- Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on
Deloitte Haskins & Sells LLP
the ability of the Group and its associates to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Consolidated Financial Results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group and its associates to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the Annual Consolidated Financial Results, including the disclosures, and whether the Annual Consolidated Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
- Perform procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the LODR Regulations to the extent applicable.
- Obtain sufficient appropriate audit evidence regarding the Annual Standalone Financial Results of the entities within the Group and its associates to express an opinion on the Annual Consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of entities included in the Annual Consolidated Financial Results of which we are the independent auditors. For the other entities included in the Annual Consolidated Financial Results, which have been audited by the other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.
Materiality is the magnitude of misstatements in the Annual Consolidated Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Annual Consolidated Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Annual Consolidated Financial Results.
We communicate with those charged with governance of the Parent and such other entities included in the Consolidated Financial Results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
(b) Review of the Consolidated Financial Results for the quarter ended March 31, 2026
We conducted our review of the Consolidated Financial Results for the quarter ended March 31, 2026 in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the ICAI. A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially
Deloitte Haskins & Sells LLP
less in scope than an audit conducted in accordance with SAs specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
The Statement includes the results of the entities as listed under paragraph (a)(i) of Opinion and Conclusion section above.
We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.
Other Matters
-
The Statement includes the results for the Quarter ended March 31, 2026 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review by us. Our report is not modified in respect of this matter.
-
We did not audit the financial statements of two subsidiaries included in the consolidated financial results, whose financial statements reflect total assets of Rs. 398.68 crores as at March 31, 2026 and total revenues of Rs.82.57 crores and Rs. 323.09 crores for the quarter and year ended March 31, 2026 respectively, total net profit after tax of Rs. 14.97 crores and Rs. 31.21 crores for the quarter and year ended March 31, 2026 respectively and other comprehensive income/ (expense) of Rs. (0.05) crores and Rs. 0.08 crores for the quarter and year ended March 31, 2026 respectively and net cash inflows of Rs. 2.26 crores for the year ended March 31, 2026, as considered in the Statement. The consolidated financial results also includes the Group's share of total net profit after tax of Rs. 10.40 crores and Rs. 50.06 crores for the quarter and year ended March 31, 2026 respectively and Other comprehensive income of Rs. 0.14 crores and Rs. 0.20 crores for the quarter and year ended March 31, 2026 respectively, as considered in the Statement, in respect of three associates whose financial statements have not been audited by us. These financial statements have been audited, by other auditors whose reports have been furnished to us by the Management and our opinion and conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and associates, is based solely on the reports of the other auditors and the procedures performed by us as stated under Auditor's Responsibilities section above.
Our report on the Statement is not modified in respect of the above matter with respect to our reliance on the work done and the reports of the other auditors.
For Deloitte Haskins & Sells LLP
Chartered Accountants
(Firm's Registration No. 117366W/W-100018)
Kanav Kumar
Digitally signed by
Kanav Kumar
Date: 2026.05.07
12:29:05 +05'30'
Kanav Kumar
Partner
(Membership No.507230)
(UDIN:26507230DAHXET9332)
Place: Noida
Date: May 07, 2026
| Vardhman Textiles Limited Registered Office: Chandigarh Road, Ludhiana-141010 | ||||||
|---|---|---|---|---|---|---|
| Consolidated Audited Financial Results for the quarter and year ended March 31, 2026 Corporate Identity Number (CIN): L17111P81973PLC003345 Website:www.vardhman.com Email: [email protected] | ||||||
| S.No | Particulars | Quarter Ended March 31, 2026 | Quarter Ended December 31, 2025 | Quarter Ended March 31, 2025 | Year Ended March 31, 2026 | Year Ended March 31, 2025 |
| Unaudited | Unaudited | Unaudited | Audited | Audited | ||
| I. | Revenue from operations | 2,497.98 | 2,505.31 | 2,508.57 | 9,869.05 | 9,784.88 |
| II. | Other income | 57.92 | 58.48 | 119.97 | 223.48 | 335.96 |
| III. | Total income (I+II) | 2,555.90 | 2,563.79 | 2,628.54 | 10,092.53 | 10,120.84 |
| IV. | Expenses | |||||
| Cost of materials consumed | 1,330.77 | 1,318.58 | 1,344.99 | 5,379.99 | 5,425.64 | |
| Purchase of stock-in-trade | 0.88 | 1.82 | 4.93 | 31.80 | 10.39 | |
| Change in inventories of finished goods, work-in-progress and stock-in-trade | 17.81 | 108.49 | 46.86 | 34.31 | (34.64) | |
| Employee benefits expenses | 241.02 | 239.61 | 218.35 | 930.51 | 887.49 | |
| Finance cost | 23.19 | 26.21 | 22.92 | 92.49 | 77.28 | |
| Depreciation and amortisation expense | 122.64 | 118.33 | 103.47 | 464.53 | 400.92 | |
| Other expenses | 613.38 | 552.46 | 606.57 | 2,253.83 | 2,233.25 | |
| Total Expenses | 2,349.69 | 2,365.50 | 2,348.09 | 9,187.46 | 9,000.33 | |
| V | Share of Profit of Associates | 10.40 | 15.33 | 12.69 | 50.06 | 47.73 |
| VI. | Profit before tax (III-IV+V) | 216.61 | 213.62 | 293.14 | 955.13 | 1,168.24 |
| VII. | Tax expense | |||||
| Current tax | 42.55 | 47.73 | 52.33 | 190.02 | 242.81 | |
| Deferred tax | (15.20) | (2.61) | 2.93 | 11.91 | 38.71 | |
| VIII. | Profit for the period (VI-VII) | 189.26 | 168.50 | 237.88 | 753.20 | 886.72 |
| IX. | Other Comprehensive Income | |||||
| Items that will not be reclassified to profit or loss | ||||||
| (a) (i) Remeasurements of the defined benefits plans | (4.94) | 7.72 | 1.14 | 5.08 | 1.14 | |
| (ii) Income tax relating to items that will not be reclassified to profit or loss | 1.21 | (1.91) | (0.29) | (1.28) | (0.29) | |
| (b) Share of other comprehensive income from associates, to the extent not be reclassified to profit and loss | 0.14 | 0.09 | (0.12) | 0.20 | (0.08) | |
| (c) (i) Equity instruments through other comprehensive income | 0.36 | - | 0.39 | 0.36 | 0.39 | |
| (ii) Income taxes relating to items that will not be reclassified to profit or loss | (0.09) | - | (0.32) | (0.09) | (0.32) | |
| Total Other Comprehensive Income | (3.32) | 5.90 | 0.80 | 4.27 | 0.84 | |
| X. | Total Comprehensive Income (VIII+IX) | 185.94 | 174.40 | 238.68 | 757.47 | 887.56 |
| XI. | Profit/(Loss) for the period attributable to : | |||||
| Owners of the Company | 184.71 | 166.34 | 237.31 | 745.25 | 883.27 | |
| Non Controlling Interest | 4.55 | 2.16 | 0.57 | 7.95 | 3.45 | |
| 189.26 | 168.50 | 237.88 | 753.20 | 886.72 | ||
| XII. | Other Comprehensive Income for the period attributable to : | |||||
| Owners of the Company | (3.34) | 5.90 | 0.82 | 4.25 | 0.86 | |
| Non Controlling Interest | 0.02 | - | (0.02) | 0.02 | (0.02) | |
| (3.32) | 5.90 | 0.80 | 4.27 | 0.84 | ||
| XIII. | Total Comprehensive Income/ (expenditure) for the period attributable to : | |||||
| Owners of the Company | 181.37 | 172.24 | 238.13 | 749.50 | 884.13 | |
| Non Controlling Interest | 4.57 | 2.16 | 0.55 | 7.97 | 3.43 | |
| 185.94 | 174.40 | 238.68 | 757.47 | 887.56 | ||
| XIV. | Earnings Per Share (in Rs) (not annualized except for the year ended March 31, 2025 & 2026): Basic and diluted | 6.49 | 5.85 | 8.35 | 26.18 | 31.05 |
I. Consolidated Statement of Assets and Liabilities as at March 31, 2026
(Rs. In Crores)
| S. No. | Particulars | As at March 31, 2026 | As at March 31, 2025 |
|---|---|---|---|
| Audited | Audited | ||
| 1 | ASSETS | ||
| Non-current assets | |||
| (a) Property, Plant and Equipment | 5,065.29 | 4,121.08 | |
| (b) Capital work-in-progress | 586.20 | 251.91 | |
| (c) Right of Use Asset | 18.78 | 19.06 | |
| (d) Intangible Assets | 7.83 | 7.82 | |
| (e) Goodwill | 2.46 | 2.46 | |
| (f) Financial Assets | |||
| -Investment in associates | 238.96 | 243.04 | |
| -Investments | 582.84 | 1,138.03 | |
| -Loans | 0.91 | 1.21 | |
| -Other financial assets | 55.86 | 63.26 | |
| (g) Income tax assets (net) | 92.06 | 77.51 | |
| (h) Other non-current assets | 240.93 | 202.11 | |
| Total Non-current assets | 6,892.12 | 6,127.49 | |
| Current assets | |||
| (a) Inventories | 3,643.28 | 3,761.48 | |
| (b) Financial Assets | |||
| -Investments | 1,006.42 | 462.52 | |
| -Trade receivables | 1,305.76 | 1,297.57 | |
| -Cash and cash equivalents | 43.30 | 53.56 | |
| -Bank balance other than above | 40.05 | 35.46 | |
| -Loans | 1.76 | 2.14 | |
| -Other financial assets | 67.76 | 116.80 | |
| (c) Other current assets | 864.64 | 575.08 | |
| (d) Assets held-for-sale | 0.46 | - | |
| Total Current assets | 6,973.43 | 6,304.61 | |
| 1 | TOTAL ASSETS | 13,865.55 | 12,432.10 |
| EQUITY AND LIABILITIES | |||
| Equity | |||
| (a) Equity Share capital | 56.92 | 56.90 | |
| 2 | (b) Other Equity | 10,456.82 | 9,839.12 |
| (c) Non controlling interest | 74.05 | 69.92 | |
| Total Equity | 10,587.79 | 9,965.64 | |
| 3 | Liabilities | ||
| Non-current liabilities | |||
| (a) Financial Liabilities | |||
| -Borrowings | 1,230.78 | 748.99 | |
| -Other financial liabilities | 2.93 | 0.59 | |
| -Lease liability | 0.20 | 0.19 | |
| (b) Provisions | 18.28 | 19.48 | |
| (c) Deferred tax liabilities (Net) | 335.48 | 323.48 | |
| (d) Other non-current liabilities | 10.58 | 11.68 | |
| Total Non-current liabilities | 1,598.25 | 1,104.41 | |
| 3 | Current liabilities | ||
| (a) Financial Liabilities | |||
| -Borrowings | 624.00 | 489.08 | |
| -Trade payables | |||
| (i) Total outstanding dues of micro enterprises and small enterprises | 50.74 | 51.05 | |
| (ii) Total outstanding dues of trade payables other than micro enterprises and small | 446.01 | 445.56 | |
| -Other financial liabilities | 418.17 | 247.32 | |
| (b) Other current liabilities | 98.89 | 81.48 | |
| (c) Provisions | 7.73 | 4.68 | |
| (d) Current tax liabilities (Net) | 33.97 | 42.88 | |
| Total Current liabilities | 1,679.51 | 1,362.05 | |
| TOTAL EQUITY AND LIABILITIES | 13,865.55 | 12,432.10 |
Chartered Accountants
| Particulars | Year ended March 31, 2026 | Year ended March 31, 2025 |
|---|---|---|
| Audited | Audited | |
| A CASH FLOW FROM OPERATING ACTIVITIES | ||
| Profit before tax | 955.13 | 1,168.24 |
| Adjustments for: | ||
| Share of profit of associates | (50.06) | (47.73) |
| Interest Expense | 76.26 | 58.82 |
| Gain on fair valuation of Investments (Net) | (71.01) | (98.48) |
| Subsidy from Government | (1.38) | (1.55) |
| Interest income | (14.21) | (37.04) |
| Dividend on investments | (2.61) | (0.22) |
| Net gain on sale / discarding of property, plant and equipment | (37.31) | (44.42) |
| (Profit)/Loss on sale of Investments (Net) | (22.34) | (49.77) |
| Provision no longer required written back (net) | (3.74) | (4.53) |
| Assets written off | 3.76 | 1.91 |
| Bad debt written off | 2.36 | 9.95 |
| Allowances for doubtful trade receivables and advances written back (net) | 5.50 | 0.51 |
| Depreciation and amortisation | 464.53 | 400.92 |
| Essp provision created | 5.94 | 8.52 |
| Derivative Financial Instruments | 123.73 | 2.48 |
| Operating profit before working capital changes | 1,434.55 | 1,367.61 |
| Changes in working capital: | ||
| Adjustments for (increase) / decrease in operating assets :- | ||
| Trade receivables | (10.55) | (87.77) |
| Inventories | 118.20 | 418.41 |
| Loans | 0.68 | 0.16 |
| Other assets (Current) | (289.57) | 15.01 |
| Others financial assets (Current) | 49.63 | (6.17) |
| Others financial assets (Non Current) | 2.18 | 2.61 |
| Other assets (Non-current) | (5.33) | 18.49 |
| Adjustments for increase / (decrease) in operating liabilities :- | ||
| Trade payables | 3.87 | 142.80 |
| Provisions (Current and Non Current) | 1.85 | 2.09 |
| Others financial liabilities (Current) | (7.72) | 3.69 |
| Others financial liabilities (Non-Current) | 2.34 | (0.16) |
| Other liabilities (Non-current) | (0.08) | (0.12) |
| Other liabilities (Current) | 22.83 | 5.24 |
| Cash generated/(used) in operating activities before taxes | 1,322.88 | 1,881.89 |
| Income taxes paid (net of refund received) | (214.76) | (238.09) |
| Net cash generated from operating activities | 1,108.12 | 1,643.80 |
| B CASH FLOW FROM INVESTING ACTIVITIES | ||
| Proceeds from Sale of Investments(Non Current) | 141.83 | 54.57 |
| Purchase of current investments (net of proceeds from sale) | (36.84) | (27.81) |
| Interest received | 11.74 | 13.95 |
| Payment for purchase of property, plant and equipment, capital work in progress and other intangible assets | (1,737.94) | (1,032.62) |
| Bank balances not considered as cash and cash equivalents | (2.99) | 12.07 |
| Proceeds from disposal of property, plant and equipment | 50.84 | 63.89 |
| Dividend received from associates | 52.09 | 24.16 |
| Dividend received from other investments | 4.86 | 0.17 |
| Net cash generated/(used) in investing activities | (1,516.41) | (891.63) |
| C CASH FLOW FROM FINANCING ACTIVITIES* | ||
| Proceeds from equity share capital/share application | 4.55 | - |
| Proceeds from borrowings (non-current) | 661.26 | 421.13 |
| Repayment of borrowings (non-current) | (83.31) | (538.67) |
| Proceeds/(Repayment) of borrowings (current) (net) | 38.94 | (435.43) |
| Dividends on equity share capital paid | (145.78) | (118.44) |
| Interest Expense | (77.63) | (61.50) |
| Net cash generated/(used) in financing activities | 398.03 | (732.91) |
| Net decrease in cash and cash equivalents | (10.26) | 19.26 |
| Cash and cash equivalents at the beginning of the year | 53.56 | 34.30 |
| Cash and cash equivalents at the end of the period | 43.30 | 53.56 |
- There are no non cash changes arising from financing activities.
Chartered Accountants
III. Statement of Segment Information as at March 31, 2026
(All amounts in Rs. Crores, unless otherwise stated)
| Particulars | Quarter Ended March 31, 2026 | Quarter Ended December 31, 2025 | Quarter Ended March 31, 2025 | Year Ended March 31, 2026 | Year Ended March 31, 2025 |
|---|---|---|---|---|---|
| Unaudited | Unaudited | Unaudited | Audited | Audited | |
| I. Segment Revenue | |||||
| Textiles | 2440.66 | 2451.91 | 2458.18 | 9652.33 | 9587.21 |
| Acrylic Fibre | 83.50 | 76.28 | 72.12 | 318.57 | 281.57 |
| Total | 2524.16 | 2528.19 | 2530.30 | 9970.90 | 9868.78 |
| Less : Inter Segment Revenue | 26.18 | 22.86 | 21.73 | 101.85 | 83.90 |
| Net Revenue from operations | 2497.98 | 2505.31 | 2508.57 | 9869.05 | 9784.88 |
| II. Segment Results | |||||
| Profit before tax & interest from each segment | |||||
| Textiles | 229.80 | 229.57 | 306.54 | 1007.87 | 1143.65 |
| Acrylic Fibre | 11.05 | 7.28 | (0.94) | 18.40 | 3.99 |
| Total | 240.85 | 236.85 | 305.60 | 1026.27 | 1147.64 |
| Less : (a) Interest | 23.19 | 26.21 | 22.92 | 92.49 | 77.28 |
| (b) Other un-allocable expenditure / (income) | 11.45 | 12.35 | 2.23 | 28.71 | (50.15) |
| (Net of un-allocable (income)/expenditure) | |||||
| Add: Share of Profit of Associates | 10.40 | 15.33 | 12.69 | 50.06 | 47.73 |
| Total Profit before tax | 216.61 | 213.62 | 293.14 | 955.13 | 1168.24 |
| Tax expenses | 27.35 | 45.12 | 55.26 | 201.93 | 281.52 |
| Net Profit after tax | 189.26 | 168.50 | 237.88 | 753.20 | 886.72 |
| Less: Non Controlling Interest | 4.55 | 2.16 | 0.57 | 7.95 | 3.45 |
| Net Profit after taxes, non controlling interest and Share of profit of Associates | 184.71 | 166.34 | 237.31 | 745.25 | 883.27 |
| III. Segment Assets | |||||
| Textiles* | 11598.63 | 11366.85 | 10096.64 | 11598.63 | 10096.64 |
| Acrylic Fibre | 159.50 | 168.18 | 162.43 | 159.50 | 162.43 |
| Total Segment Assets | 11758.13 | 11535.03 | 10259.07 | 11758.13 | 10259.07 |
| Un-allocated | 2107.42 | 2144.33 | 2173.03 | 2107.42 | 2173.03 |
| Total Assets | 13865.55 | 13679.36 | 12432.10 | 13865.55 | 12432.10 |
| IV. Segment Liabilities** | |||||
| Textiles | 866.36 | 825.71 | 651.76 | 866.36 | 651.76 |
| Acrylic Fibre | 59.10 | 43.44 | 99.61 | 59.10 | 99.61 |
| Total Segment Liabilities | 925.46 | 869.15 | 751.37 | 925.46 | 751.37 |
| Un-allocated | 162.04 | 183.20 | 153.54 | 162.04 | 153.54 |
| Total Liabilities | 1087.50 | 1052.35 | 904.91 | 1087.50 | 904.91 |
| * Includes Capital Work in Progress and Capital Advances | 737.97 | 1327.61 | 370.19 | 737.97 | 370.19 |
| **excludes borrowings, deferred tax liabilities |
A
E
IV. Additional Notes
-
The consolidated financial results includes results of all its -
(i) Parent - Vardhman Textiles Limited
(ii) Subsidiaries - viz Vardhman Acrylics Limited, VTI, Investments Limited and
(iii) Associates - viz Vardhman Yarns and Threads Limited, Vardhman Special Steels Limited and Vardhman Spinning and General Mills Limited
The Parent and its subsidiaries together referred to as "the group". -
The Financial Results has been prepared in accordance with Indian Accounting standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and requirements of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 as amended.
-
During the Year ended March 31, 2026, the Parent Company has issued 1,07,000 equity shares having face value of Rs.2 per share under Employee Stock Options Scheme.
-
The above Financial Results have been reviewed by the Audit Committee at its meeting held on May 06, 2026 and approved by the Board of Directors at its meeting held on May 07, 2026. The statutory auditor's report on review of consolidated financial results for the quarter and audit of consolidated financial results for the year ended March 31, 2026 is being filed with BSE Limited and National Stock Exchange on India Limited.
-
The figures for the quarter ended March 31, 2026 and March 31, 2025 are the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to third quarter of the financial year. Also, the figures up to the end of third quarter were only reviewed and not subject to audit.
-
The Government of India, vide Notification dated November 21, 2025, has notified the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as "the Labour Codes"), which consolidate and replace existing multiple labour legislations. In accordance with Ind AS 19 - Employee benefits, changes to employee benefit plans resulting from the new labour codes are treated as plan amendments, requiring immediate recognition of past service cost as expense in the statement of profit and loss. This approach is consistent with the guidance issued by the Institute of Chartered Accountants of India. In view of this, the Group has evaluated the impact and recognised past service costs amounting to Rs. 24.79 crores which has been included under employee benefit expenses in the previous quarter ended December 31, 2025. Further, during the current quarter, the Group has made changes to salary structure and recognised additional impact in the past service cost amounting to Rs. 8.90 crores which has been included in employee benefit expenses in the financial results.
Further, the Group continues to monitor developments on the rules to be notified by regulatory authorities, including clarifications/ additional guidance from authorities and will continue to assess the accounting implications basis such developments/ guidance, if required.
-
Increase in property, plant and equipment mainly includes capitalization of new technical textile unit in Baddi and additional processing line in Budhni during the current quarter, aggregating Rs 570 crores pursuant to commencement of commercial production on March 1, 2026 and March 7, 2026, respectively.
-
There is reduction in tax expense in the current quarter, due to reversal of income tax provision of previous years amounting Rs. 16.98 crores due to settlement of certain tax litigations.
-
The board of directors has recommended dividend of Rs. 5 Per share on fully paid up equity shares of the company.
For and on behalf of Board of Directors of Vardhman Textiles Limited
Place : Ludhiana
Date : May 07, 2026
S.P. Oswal
Chairman & Managing Director
(DIN:00121737)