Vardhman Holdings Limited (VHL) - Net Assets
Based on the latest financial reports, Vardhman Holdings Limited (VHL) has net assets worth Rs37.66 Billion INR (≈ $407.24 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs37.69 Billion ≈ $407.63 Million USD) and total liabilities (Rs35.50 Million ≈ $383.92K USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how strategically is Vardhman Holdings Limited's equity deployed to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Rs37.66 Billion |
| % of Total Assets | 99.91% |
| Annual Growth Rate | 20.64% |
| 5-Year Change | 35.61% |
| 10-Year Change | 133.16% |
| Growth Volatility | 93.62 |
Vardhman Holdings Limited - Net Assets Trend (2006–2026)
This chart illustrates how Vardhman Holdings Limited's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see Vardhman Holdings Limited (VHL) market capitalisation.
Annual Net Assets for Vardhman Holdings Limited (2006–2026)
The table below shows the annual net assets of Vardhman Holdings Limited from 2006 to 2026. Also explore Vardhman Holdings Limited annual equity growth to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2026-03-31 | Rs37.66 Billion ≈ $407.24 Million |
+6.36% |
| 2025-03-31 | Rs35.40 Billion ≈ $382.89 Million |
+7.38% |
| 2024-03-31 | Rs32.97 Billion ≈ $356.58 Million |
+6.37% |
| 2023-03-31 | Rs31.00 Billion ≈ $335.21 Million |
+11.62% |
| 2022-03-31 | Rs27.77 Billion ≈ $300.30 Million |
+20.43% |
| 2021-03-31 | Rs23.06 Billion ≈ $249.36 Million |
+8.47% |
| 2020-03-31 | Rs21.26 Billion ≈ $229.88 Million |
+6.42% |
| 2019-03-31 | Rs19.97 Billion ≈ $216.02 Million |
+9.63% |
| 2018-03-31 | Rs18.22 Billion ≈ $197.04 Million |
+12.81% |
| 2017-03-31 | Rs16.15 Billion ≈ $174.66 Million |
+29.50% |
| 2016-03-31 | Rs12.47 Billion ≈ $134.87 Million |
+439.18% |
| 2015-03-31 | Rs2.31 Billion ≈ $25.01 Million |
+14.42% |
| 2014-03-31 | Rs2.02 Billion ≈ $21.86 Million |
+8.79% |
| 2013-03-31 | Rs1.86 Billion ≈ $20.10 Million |
+5.88% |
| 2012-03-31 | Rs1.76 Billion ≈ $18.98 Million |
+44.52% |
| 2011-03-31 | Rs1.21 Billion ≈ $13.13 Million |
+5.32% |
| 2010-03-31 | Rs1.15 Billion ≈ $12.47 Million |
+6.05% |
| 2009-03-31 | Rs1.09 Billion ≈ $11.76 Million |
+7.23% |
| 2008-03-31 | Rs1.01 Billion ≈ $10.97 Million |
+0.62% |
| 2007-03-31 | Rs1.01 Billion ≈ $10.90 Million |
+14.14% |
| 2006-03-31 | Rs882.89 Million ≈ $9.55 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Vardhman Holdings Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (March 2026)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | Rs31.90 Million | 0.08% |
| Other Components | Rs37.62 Billion | 99.92% |
| Total Equity | Rs37.66 Billion | 100.00% |
Vardhman Holdings Limited Competitors by Market Cap
The table below lists competitors of Vardhman Holdings Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Adisyn Ltd
AU:AI1
|
$116.63 Million |
|
Phoenix Tours International Inc
TW:5706
|
$116.65 Million |
|
Harbin Bank Co. Ltd
F:5H6
|
$116.65 Million |
|
Apex Frozen Foods Limited
NSE:APEX
|
$116.71 Million |
|
Niching Industrial
TWO:3444
|
$116.53 Million |
|
Elektroimportoren As
OL:ELIMP
|
$116.49 Million |
|
Kjell Group AB
ST:KJELL
|
$116.46 Million |
|
Tanami Gold NL
AU:TAM
|
$116.40 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Vardhman Holdings Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2025 to 2026, total equity changed from 35,404,645,000 to 37,656,800,000, a change of 2,252,155,000 (6.4%).
- Net income of 2,160,100,000 contributed positively to equity growth.
- Dividend payments of 16,000,000 reduced retained earnings.
- Other comprehensive income decreased equity by 4,066,430,999.
- Other factors increased equity by 4,174,485,999.
Equity Change Factors (2025 to 2026)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Rs2.16 Billion | +5.74% |
| Dividends Paid | Rs16.00 Million | -0.04% |
| Other Comprehensive Income | Rs-4.07 Billion | -10.8% |
| Other Changes | Rs4.17 Billion | +11.09% |
| Total Change | Rs- | 6.36% |
Book Value vs Market Value Analysis
This analysis compares Vardhman Holdings Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.29x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 12.21x to 0.29x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-03-31 | Rs276.68 | Rs3377.10 | x |
| 2007-03-31 | Rs315.76 | Rs3377.10 | x |
| 2008-03-31 | Rs317.72 | Rs3377.10 | x |
| 2009-03-31 | Rs340.69 | Rs3377.10 | x |
| 2010-03-31 | Rs361.28 | Rs3377.10 | x |
| 2011-03-31 | Rs380.51 | Rs3377.10 | x |
| 2012-03-31 | Rs549.90 | Rs3377.10 | x |
| 2013-03-31 | Rs582.29 | Rs3377.10 | x |
| 2014-03-31 | Rs633.39 | Rs3377.10 | x |
| 2015-03-31 | Rs724.70 | Rs3377.10 | x |
| 2016-03-31 | Rs3907.48 | Rs3377.10 | x |
| 2017-03-31 | Rs5060.38 | Rs3377.10 | x |
| 2018-03-31 | Rs5708.65 | Rs3377.10 | x |
| 2019-03-31 | Rs6258.66 | Rs3377.10 | x |
| 2020-03-31 | Rs6660.36 | Rs3377.10 | x |
| 2021-03-31 | Rs7224.71 | Rs3377.10 | x |
| 2022-03-31 | Rs8700.63 | Rs3377.10 | x |
| 2023-03-31 | Rs9711.93 | Rs3377.10 | x |
| 2024-03-31 | Rs10330.99 | Rs3377.10 | x |
| 2025-03-31 | Rs11095.16 | Rs3377.10 | x |
| 2026-03-31 | Rs11800.94 | Rs3377.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Vardhman Holdings Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 5.74%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1530.90%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.00x
- Recent ROE (5.74%) is below the historical average (10.08%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | 12.47% | 185.44% | 0.07x | 1.01x | Rs21.84 Million |
| 2007 | 13.11% | 99.01% | 0.13x | 1.00x | Rs31.37 Million |
| 2008 | 1.36% | 92.57% | 0.01x | 1.01x | Rs-87.65 Million |
| 2009 | 7.43% | 93.78% | 0.08x | 1.01x | Rs-27.97 Million |
| 2010 | 6.35% | 85.36% | 0.07x | 1.01x | Rs-42.12 Million |
| 2011 | 5.82% | 75.91% | 0.08x | 1.01x | Rs-50.82 Million |
| 2012 | 31.33% | 413.30% | 0.07x | 1.01x | Rs374.38 Million |
| 2013 | 6.16% | 91.64% | 0.07x | 1.01x | Rs-71.42 Million |
| 2014 | 8.63% | 93.32% | 0.09x | 1.01x | Rs-27.67 Million |
| 2015 | 13.10% | 99.90% | 0.13x | 1.01x | Rs71.68 Million |
| 2016 | 12.72% | 1243.49% | 0.01x | 1.00x | Rs338.72 Million |
| 2017 | 18.77% | 445.95% | 0.04x | 1.00x | Rs1.42 Billion |
| 2018 | 9.81% | 427.91% | 0.02x | 1.00x | Rs-35.23 Million |
| 2019 | 10.10% | 1443.74% | 0.01x | 1.00x | Rs20.81 Million |
| 2020 | 7.51% | 769.57% | 0.01x | 1.00x | Rs-528.53 Million |
| 2021 | 5.62% | 947.24% | 0.01x | 1.00x | Rs-1.01 Billion |
| 2022 | 15.45% | 3043.39% | 0.01x | 1.00x | Rs1.51 Billion |
| 2023 | 7.37% | 935.68% | 0.01x | 1.00x | Rs-815.27 Million |
| 2024 | 5.61% | 2180.61% | 0.00x | 1.00x | Rs-1.45 Billion |
| 2025 | 7.29% | 1949.55% | 0.00x | 1.00x | Rs-960.43 Million |
| 2026 | 5.74% | 1530.90% | 0.00x | 1.00x | Rs-1.61 Billion |
Industry Comparison
This section compares Vardhman Holdings Limited's net assets metrics with peer companies in the Credit Services industry.
Industry Context
- Industry: Credit Services
- Average net assets among peers: $21,722,941,149
- Average return on equity (ROE) among peers: 12.71%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Vardhman Holdings Limited (VHL) | Rs37.66 Billion | 12.47% | 0.00x | $116.56 Million |
| Akme Fintrade India Ltd (AFIL) | $2.05 Billion | 7.72% | 0.91x | $39.74 Million |
| Arman Financial Services Limited (ARMANFIN) | $196.82 Million | 15.55% | 2.31x | $222.99 Million |
| Baid Finserv Limited (BAIDFIN) | $108.03 Million | 5.96% | 2.17x | $18.24 Million |
| Bajaj Finance Limited (BAJFINANCE) | $96.00 Billion | 19.13% | 5.64x | $69.99 Billion |
| Capri Global Capital Limited (CGCL) | $13.83 Billion | 9.81% | 2.09x | $2.82 Billion |
| Cholamandalam Investment and Finance Company Limited (CHOLAFIN) | $31.74 Billion | 13.99% | 6.52x | $16.42 Billion |
| Cholamandalam Financial Holdings Limited (CHOLAHLDNG) | $7.27 Billion | 23.60% | 2.56x | $3.06 Billion |
| CREDITACCESS GRAMEEN LIMITED (CREDITACC) | $65.70 Billion | 22.01% | 3.39x | $2.40 Billion |
| CSL Finance Limited (CSLFINANCE) | $773.42 Million | 9.31% | 0.08x | $53.07 Million |
| DCM Financial Services Limited (DCMFINSERV) | $-434.17 Million | 0.00% | 0.00x | $1.24 Million |
About Vardhman Holdings Limited
Vardhman Holdings Limited operates as a non-banking financial company in India. It engages in investing activities. The company was formerly known as Vardhman Spinning and General Mills Limited and changed its name to Vardhman Holdings Limited in March 2006. Vardhman Holdings Limited was incorporated in 1962 and is based in Ludhiana, India.