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  2. •

    Consumer Defensive

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    Packaged Foods
Vadilal Industries Limited

Vadilal Industries Limited

VADILALIND.BO
Vadilal Industries LimitedIN flagBombay Stock Exchange
6,488.50
INR
+24.35
- -
46.70BMarket Cap
Vadilal Industries Limited
VADILALIND.BO
(Bombay Stock Exchange)

Recent

price

6,488.50

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
332.17
396.01
450.29
511.37
565.25
625.69
668.22
759.54
786.25
831.3
642.03
967.57
1,464.96
1,559.39
1,725.54
2,091.19
2,088.39
Revenue per Share
-0.01
8.06
6.99
3.2
3.39
20.54
26.56
21.79
46.41
57.57
6.44
62.19
133.74
202.71
209.15
215.78
215.79
Basic EPS, GAAP
-50.86
25.79
6.16
46.04
57
70.69
34.12
23.09
61.8
92.69
114.15
44.56
54.85
266.68
155.09
199.04
- -
Free Cash Flow per Basic Share
1.46
1.46
1.47
1.46
1.02
1.03
1.5
1.5
1.51
1.51
- -
- -
1.25
1.5
1.5
20.99
- -
Dividend per Share
10
12.79
13.85
14.5
14.42
17.33
43.81
64.1
109
165.07
171.51
233.7
365.82
567.03
775.65
10
10
Book Value per Share
59.13
152.63
155.21
153.04
152.43
193.32
219.32
240.81
286.13
342.13
348.19
412.89
548.54
750.36
964.32
1,177.54
1,177.58
Tangible Book Value per Share
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
Basic Weighted Avg Shares
2,388
2,846
3,237
3,673
4,063
4,497
4,803
5,460
5,652
5,975
4,615
6,955
10,548
11,228
12,403
15,031
15,011
Sales/Revenue/Turnover
8.01
9.4
8.6
7.66
6.72
9.98
9.13
6.12
9.87
9.37
4.35
11.38
13.86
17.05
15.98
13.3
13.17
Operating Margin (%)
83
96
116
137
132
136
149
161
169
237
228
240
299
349
422
488
488
Depreciation Expense
- -
58
50
23
24
148
191
157
334
414
46
447
963
1,460
1,503
1,551
1,551
Net Income, GAAP
33.66
37.35
39.04
35.78
36.03
39.84
34.92
31.72
35.67
13.68
39.78
29.97
26.25
18.9
24.72
24.45
24.45
Effective Tax Rate (%)
- -
2.04
1.55
0.63
0.6
3.28
3.98
2.87
5.9
6.93
1
6.43
9.13
13
12.12
10.32
10.33
Profit Margin (%)
-179
-97
-380
-365
-496
-449
-430
-12
13
-46
97
843
1,221
2,191
3,228
4,232
4,232
Working Capital
630
835
756
820
613
453
344
710
580
639
675
869
1,377
1,326
1,674
1,737
1,737
LT Debt
425
1,097
1,129
1,133
1,139
1,436
1,612
1,756
2,077
2,474
2,514
2,977
3,976
5,426
6,956
8,506
8,506
Total Equity
10.71
9.62
6.72
6.97
7.06
10.69
10.46
7.67
10.68
12.13
2.81
12.14
18.25
21.42
17.86
15.14
14.93
Return on Invested Capital (%)
9.39
17.16
3.33
11.24
12.63
19.77
19.96
14.82
20.08
20.29
5.62
18.01
23.59
26.74
22.82
33.06
33.06
Return on Capital (%)
-0.11
70.73
52.49
22.57
23.45
129.37
86.89
40.38
53.62
42.01
3.83
30.69
44.64
43.46
31.13
54.93
54.93
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
334
- -
560
LT Borrowings
516
- -
534
LT Finance Leases
1,190
- -
1,203
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
7
- -
7
Market Capitalization
38,630
35,442
29,404

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
5,669
- -
6,346
Cash, Cash Equivalents & STI
1,433
- -
585
Accounts Receivable, Net
1,608
- -
1,775
Inventories
2,234
- -
3,360
Total Current Liabilities
1,720
- -
2,115
Payables & Accruals
- -
- -
- -
ST Debt
334
- -
560
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
19.91%
27.79%
22.28%
Free Cash Flow
49.17%
66.99%
28.35%
Net Income, GAAP
109.77%
207.62%
3.17%
Sales/Revenue/Turnover
14.74%
28.09%
21.19%
Total Cash Common Dividend
- -
- -
1,297.22%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4,109
2,887
1,743
2,489
11,228
2025
4,642
2,955
2,038
2,750
12,403
2026
5,059
3,413
2,380
4,158
15,031

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
98.79
52.94
12.86
- -
202.71
2025
107.71
54.23
16.6
30.61
209.15
2026
93.19
46.5
-0.22
76.32
215.78

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1.5
2025
- -
- -
- -
- -
1.5
2026
- -
- -
- -
- -
20.99
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Business
Vadilal Industries Limited manufactures and markets ice creams, frozen desserts, processed foods, and dairy products in India. The company offers a wide range of ice creams including regular and premium varieties in flavors such as vanilla, chocolate, strawberry, Belgian chocolate, Rajbhog, Kesar Pista, and Kulfi; ice cream cones and bars under Flingo and Badabite brands; party packs, family packs, no-sugar-added and low-calorie options; frozen vegetables comprising peas, corn, carrots, and mixed vegetables; ready-to-eat Indian meals such as paneer dishes, curries, biryanis, dal; snacks and appetizers including samosas, spring rolls, cutlets, tikkas; Indian breads like parathas and naans; processed fruit pulps, purees, concentrates such as mango pulp, jams, and preserves; and bulk ice cream and frozen ingredients for foodservice and institutional sales. It operates retail outlets and ice cream parlors under the Happinezz brand providing customized ice cream cakes and desserts, and exports frozen and processed foods including Indian ethnic foods and customized products to more than 45 countries. Vadilal Industries Limited, founded in 1907 and headquartered in Ahmedabad, Gujarat, India, maintains manufacturing facilities including ice cream plants in Gujarat and Uttar Pradesh, and a frozen fruits and vegetables processing plant in Dharampur, Gujarat. In recent developments, the company reported consolidated financial results for the quarter ended September 30, 2025, and has been evaluating opportunities for restructuring, investments, or divestments, including past clarifications on unconfirmed reports of potential interest from Bain Capital in its ice cream business valued at approximately Rs 30 billion, though no such transactions were confirmed as of mid-2024. The company continues to focus on innovation with exotic flavors, seasonal offerings, and advanced packaging solutions amid ongoing stock market activity on the Bombay Stock Exchange under ticker VADILALIND.BO.