Vadilal Enterprises Limited
NSE: VADILENTDairy Products
Share price
₹9,800.00
-0.22% close of 9 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 6 Oct 2026, the close above is 9 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
58
out of 100 · worked out 8 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹842 Cr
P/E ratio
60.3
P/B ratio
25.5
ROCE
24.8%
ROE
36.5%
Dividend yield
0.0%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Sales grew 25.1% over the past year, and 11.8% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales slipped from 2.5% to 0.5% over the last four years.
Whether it grew faster than its sector
It grew 11.8% a year against a sector median of 9.9% — 1.9 percentage points faster.
Room to re-rate, or risk of de-rating
At 60.3× earnings it costs 2.5× the market, which pays 23.9× across 2199 companies we can price. Its own industry sits at 45.8×, across 4 companies. It is against its own five-year median of 77.2×, the 42nd percentile of its own range.
Whether growth justifies the valuation
Priced at 4.6 times its growth rate, on earnings growth of 13%.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Vadilal Enterprises Limited — this one | 13%/yr | 60.3× | ₹4.6 |
| Milky Mist Dairy Food Limited | 67%/yr | 200.6× | ₹3.0 |
| Hatsun Agro Product Limited | 30%/yr | 67.4× | ₹2.2 |
| Kwality Wall's (India) Limited | — | — | — |
| Dodla Dairy Limited | 28%/yr | 24.2× | ₹0.86 |
| Vadilal Industries Limited | 15%/yr | 22.9× | ₹1.5 |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Dairy Products), it ranks 1 of 10 on returns, 5 of 9 on growth, 8 of 10 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
A wide advantage: it earns 24.8% on capital, ahead of 90% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
No — Over the last five years it made ₹122 crore of cash from the business but spent ₹144 crore on plant and equipment, ₹22 crore more than it made; the gap was mostly borrowed — borrowings rose from ₹6 crore to ₹62 crore. And the profit is real: of every 100 rupees it reported over 12 years, about 716 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall. Its cash comes back more slowly than it used to: it went from being paid 46 days before it paid its own suppliers to paid 37 days before it paid its own suppliers.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
6 of 8 checks clear · 75%
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Announced 13 Aug 2026 · Standalone · Unaudited
Revenue
₹704 Cr
Net profit
₹23 Cr
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹842 Cr
- Prev close
- ₹9,800.00
- 52w High
- ₹12,598
- 52w Low
- ₹9,401
- Enterprise value
- ₹900 Cr
- Beta
- 0.6
- Price CAGR 1y
- -4.0%
- Price CAGR 3y
- 39.0%
- Price CAGR 5y
- 41.0%
- Price CAGR 10y
- 35.0%
Ratios
- Return on assets
- 2.9%
- PEG ratio
- 4.7
- P/E ratio
- 60.3
- P/B ratio
- 25.5
- EV / EBITDA
- 24.5
- Industry P/E
- 28.6
- ROCE
- 24.8%
- ROCE 5y average
- 35.4%
- ROE
- 36.5%
- Debt / Equity
- 1.9
- Interest coverage
- 2.8
- Dividend yield
- 0.0%
- ROE 3y average
- 28.0%
- ROE last year
- 29.0%
Annual P&L
- Annual revenue
- ₹1,217 Cr
- Annual profit
- ₹10 Cr
- Operating margin
- 3.0%
- Net profit margin
- 0.8%
- EBITDA margin
- 3.0%
- Sales growth 3y
- 9.4%
- Sales growth 5y
- 29.1%
- Profit growth 3y
- 13.0%
- Profit growth 5y
- 58.0%
- EPS
- ₹121
- Sales growth TTM
- 25.0%
- Profit growth TTM
- 535.0%
- Dividend payout
- 1.0%
Quarter P&L
- Sales latest quarter
- ₹704 Cr
- Profit latest quarter
- ₹23 Cr
- YoY quarterly sales growth
- 36.2%
- YoY quarterly profit growth
- 15.0%
- OPM latest quarter
- 5.4%
Balance Sheet
- Book Value
- ₹382
- Face Value
- ₹10.0
- Total debt
- ₹62 Cr
- Total cash
- ₹6 Cr
- Borrowings
- ₹62 Cr
- Reserves / Equity
- 37.2
Cash Flow
- Operating cash flow
- ₹42 Cr
- Free cash flow
- -₹10 Cr
- FCF yield
- -2.1%
- Net cash flow
- -₹1 Cr
Shareholding
- Promoter holding
- 51.0%
- FII holding
- 0.5%
- DII holding
- —
- Public holding
- 48.4%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| Hatsun Agro | 1,150.00 | 70.3 | 25,667 | 0.87 | 133.7 | -9.7 | 3,090.5 | 21.9 | 15.2 |
| Milky Mist Dairy | 319.20 | 133.9 | 24,622 | 0.00 | 64.5 | 1024.8 | 973.4 | 44.7 | 15.3 |
| Kwality Wall's | 38.29 | 8,971 | 0.00 | 50.7 | 8.0 | 878.3 | 16.0 | ||
| Dodla Dairy | 1,019.90 | 24.9 | 6,153 | 0.49 | 40.6 | -35.4 | 1,197.9 | 19.0 | 16.7 |
| Vadilal Inds. | 7,309.50 | 24.0 | 5,250 | 0.59 | 130.9 | 95.5 | 680.1 | 34.2 | 22.0 |
| Parag Milk Foods | 308.70 | 28.8 | 3,882 | 0.36 | 22.1 | -20.1 | 944.6 | 10.9 | 13.4 |
| Heritage Foods | 406.10 | 29.6 | 3,761 | 0.62 | 25.0 | -38.4 | 1,338.1 | 17.7 | 14.8 |
| Vadilal Enterp. | 9,860.00 | 62.1 | 847 | 0.02 | 23.3 | 15.9 | 703.7 | 36.2 | 24.9 |
| Median | 406.10 | 30.2 | 3,882 | 0.02 | 25.0 | 15.9 | 878.3 | 17.7 | 16.0 |
Competes with: Dodla Dairy Limited, Hatsun Agro Product Limited, Heritage Foods Limited, Kwality Wall's (India) Limited, Milky Mist Dairy Food Limited, Parag Milk Foods Limited, Vadilal Industries Limited
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 435 | 244 | 132 | 188 | 513 | 246 | 136 | 224 | 517 | 264 | 145 | 291 | 704 |
| Expenses | 418 | 236 | 134 | 196 | 471 | 238 | 155 | 232 | 484 | 244 | 161 | 291 | 666 |
| Material Cost | 0 | ||||||||||||
| Change in Inventories | 13 | ||||||||||||
| Purchases of Stock-in-Trade | 536 | ||||||||||||
| Employee Cost | 21 | ||||||||||||
| Other Expenses | 96 | ||||||||||||
| Operating Profit | 16 | 8 | -2 | -8 | 42 | 8 | -19 | -8 | 32 | 20 | -16 | 0 | 38 |
| OPM % | 3.78 | 3.10 | -1.61 | -4.11 | 8.27 | 3.45 | -14 | -3.55 | 6.26 | 7.58 | -11 | 0.15 | 5.39 |
| Other Income | 1 | 1 | 9 | 0 | 1 | 2 | 1 | 2 | 1 | 1 | 1 | 2 | 1 |
| Exceptional items (within Other Income) | 0 | ||||||||||||
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 2 | 2 | 2 | 2 | 2 |
| Depreciation | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 6 |
| Profit before tax | 14 | 5 | 3 | -12 | 39 | 5 | -24 | -12 | 27 | 14 | -22 | -6 | 31 |
| Tax % | 25 | 25 | 26 | -25 | 25 | 25 | -25 | -26 | 25 | 25 | -25 | -24 | 25 |
| Net Profit | 10 | 4 | 2 | -9 | 29 | 4 | -18 | -9 | 20 | 11 | -16 | -4 | 23 |
| EPS in Rs | 122 | 41 | 26 | -101 | 336 | 44 | -212 | -102 | 233 | 124 | -187 | -49 | 270 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 418 | 488 | 518 | 546 | 573 | 592 | 340 | 548 | 930 | 999 | 1,119 | 1,217 | 1,404 |
| Expenses | 412 | 481 | 508 | 536 | 560 | 578 | 325 | 535 | 921 | 985 | 1,095 | 1,180 | 1,362 |
| Operating Profit | 6 | 8 | 10 | 10 | 13 | 14 | 16 | 12 | 9 | 14 | 24 | 37 | 42 |
| OPM % | 1.50 | 1.50 | 1.90 | 1.90 | 2.30 | 2.40 | 4.60 | 2.20 | 1 | 1.40 | 2.10 | 3 | 3 |
| Other Income | 1 | 2 | 2 | 3 | 3 | 3 | 4 | 5 | 12 | 12 | 6 | 6 | 6 |
| Interest | 1 | 1 | 2 | 2 | 4 | 3 | 5 | 2 | 1 | 4 | 6 | 8 | 8 |
| Depreciation | 6 | 8 | 9 | 11 | 12 | 14 | 13 | 12 | 11 | 12 | 16 | 20 | 21 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 | -0 | 1 | 3 | 9 | 10 | 8 | 14 | 18 |
| Tax % | 0 | 59 | 66 | 32 | 44 | 73 | 31 | 27 | 28 | 25 | 25 | 26 | |
| Net Profit | 0 | 0 | 0 | 0 | 0 | -1 | 1 | 2 | 6 | 8 | 6 | 10 | 14 |
| EPS in Rs | 0.12 | 1.51 | 1.85 | 1.74 | 1.04 | -9.62 | 9.85 | 26 | 71 | 87 | 66 | 121 | 158 |
| Dividend Payout % | 688 | 53 | 43 | 46 | 76 | 0 | 0 | 5 | 2 | 2 | 2 | 1 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- 10%
- 5 years
- 29%
- 3 years
- 9%
- TTM
- 25%
Compounded profit growth
- 10 years
- 51%
- 5 years
- 58%
- 3 years
- 13%
- TTM
- 535%
Stock price CAGR
- 10 years
- 35%
- 5 years
- 41%
- 3 years
- 39%
- 1 year
- -4%
Return on equity
- 10 years
- 26%
- 5 years
- 33%
- 3 years
- 28%
- Last year
- 29%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.86 | 0.86 | 0.86 | 0.86 | 0.86 | 0.86 | 0.86 | 0.86 | 0.86 | 0.86 | 0.86 | 0.86 |
| Reserves | 3 | 3 | 3 | 3 | 3 | 2 | 3 | 4 | 10 | 17 | 21 | 32 |
| Borrowings | 9 | 5 | 16 | 20 | 28 | 25 | 13 | 6 | 7 | 28 | 47 | 62 |
| Other Liabilities | 95 | 107 | 86 | 120 | 123 | 130 | 128 | 139 | 172 | 184 | 214 | 254 |
| Total Liabilities | 108 | 116 | 106 | 143 | 155 | 157 | 144 | 151 | 191 | 231 | 284 | 349 |
| Fixed Assets | 34 | 45 | 48 | 49 | 61 | 65 | 58 | 47 | 44 | 68 | 97 | 152 |
| CWIP | 6 | 5 | 2 | 9 | 9 | 6 | 0 | 0 | 12 | 19 | 18 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 67 | 66 | 55 | 85 | 85 | 86 | 85 | 103 | 135 | 143 | 168 | 197 |
| Total Assets | 108 | 116 | 106 | 143 | 155 | 157 | 144 | 151 | 191 | 231 | 284 | 349 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 15 | 28 | -4 | 17 | 14 | 22 | 15 | 24 | 7 | 17 | 32 | 42 |
| Cash from Investing Activity | -12 | -17 | -8 | -15 | -23 | -16 | 1 | -10 | -3 | -35 | -39 | -49 |
| Cash from Financing Activity | -3 | -5 | 9 | 1 | 5 | -7 | -16 | -9 | -2 | 17 | 13 | 6 |
| Net Cash Flow | -0 | 5 | -3 | 3 | -4 | -1 | -0 | 5 | 2 | -1 | 5 | -1 |
| Free Cash Flow | 1 | 10 | -14 | 0 | -11 | 4 | 14 | 14 | 3 | -19 | -10 | -10 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 19 | 17 | 16 | 17 | 18 | 15 | 29 | 22 | 15 | 18 | 20 | 19 |
| Inventory Days | 1 | 1 | 1 | 18 | 18 | 21 | 43 | 29 | 24 | 23 | 18 | 23 |
| Days Payable | 41 | 46 | 23 | 40 | 30 | 37 | 59 | 59 | 44 | 43 | 39 | 42 |
| Cash Conversion Cycle | -22 | -28 | -6 | -6 | 6 | -0 | 13 | -8 | -4 | -3 | -2 | -0 |
| Working Capital Days | -62 | -58 | -49 | -51 | -52 | -53 | -82 | -46 | -30 | -31 | -37 | -37 |
| ROCE % | 9 | 11 | 15 | 6 | 14 | 7 | 27 | 33 | 60 | 39 | 20 | 25 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
News
News and filings about Vadilal Enterprises Limited. Open one to see why it matters.
No recent news for this company.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
Buys from
- ESDS Software Solution Limited · cloud and enterprise community cloud services
- Vadilal Industries Limited · ice cream / frozen dessert distribution & marketing (related party)
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Fast Moving Consumer Goods
- Industry
- Dairy Products
- Classification
- Fast Moving Consumer Goods › Dairy Products
- ISIN
- INE693D01018
News impact
Big market events that reach Vadilal Enterprises Limited, and how the effect spreads.
30 Sept, 21:33 IST · Market event · medium impact
Vadilal resets after 10 years & amid a family battle
Vadilal reset its 10-year deal between its two family firms amid a feud, hurting its own shareholders on uncertainty while rival dairies gain slightly.
Who it hits first
- Vadilal Industries, which makes ice cream and dairy foods, signed a fresh business deal with its sister firm Vadilal Enterprises after 10 years.
- The reset comes during an ongoing fight within the Vadilal family over control, which clouds who gets what profit and makes near-term earnings hard to predict.
- Investors usually punish this kind of family uncertainty with a small selloff until clear terms appear.
Who may gain
- Rival dairy and ice-cream makers like Parag Milk Foods, Heritage Foods, Hatsun Agro Product and Kwality Wall's could pick up tiny extra sales if Vadilal's team is distracted.
- No other sector wins — this is a family paperwork reset, not a demand boom.
Along the supply chain
Downstream
No direct factory customer exists in the graph — Vadilal sells through shops, parlours and distributors, who can switch a few orders to rival brands if supply wobbles.
Upstream
Makers of packaging, flavours and dairy inputs that sell to Vadilal, including the two suppliers in the graph, see no order cut yet — a family paperwork reset does not stop ice-cream plants.
Where demand moves
Business
Shops that stock both Vadilal and rival tubs may order a little more from Parag, Heritage, Hatsun and Kwality if Vadilal's sales team slows, but freezers stay full and total ice-cream eating does not grow.
Capital
Investors may trim Vadilal Industries and Vadilal Enterprises on feud headlines and park that money in larger dairy names or wait in cash until the new terms are clear.
How it spreads across sectors
Fast Moving Consumer Goods
Ice-cream and dairy shelves stay normal — a small sympathy wobble for Vadilal-linked names, with tiny share gains possible for rival dairies, but no sector-wide demand change.
When it plays out
Immediate
Vadilal shares drift on feud headlines while traders wait for reset details; rival dairy stocks stay flat to slightly firm.
Medium term
Earnings show whether the reset helped or hurt profit sharing; feud overhang fades if the family sticks to the new deal.
Short term
If deal terms stay vague, Vadilal stays soft and rivals hold tiny gains; clear paperwork would calm both sides.
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 1 Sep 2026 | unspecified | ₹1.5 |
|---|
Documents
Annual reports, results presentations and earnings calls, straight from the source.
No documents on record yet.
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.