VADILALINDFast Moving Consumer Goods

Vadilal Industries Limited

Dairy Products · ISIN INE694D01016 · BSE 519156 · NSE EQ · FV ₹10
Last price
₹7,378
+0.64%today
What this company does

Vadilal Industries Limited operates in Dairy Products, part of the Fast Moving Consumer Goods sector. It booked ₹463 cr of revenue in its latest quarter (Q2 FY27) and kept 12.3% of sales as profit. It is the 5th largest of 8 Dairy Products companies we track, by market value.

In the report:
64out of 100
Equitytale Health Score
Mixed

Healthier than 64% of companies in Fast Moving Consumer Goods, on all six measures of filed financials. Each measure is ranked against the 25–149 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
52

At close. Not part of the score.

Profitability & returns81

How much profit it earns on the money it employs

Balance sheet71

How much it owes, and whether earnings cover the interest

Cash quality55

Whether reported profit actually arrives as cash

Growth & consistency76

Whether sales and profit have grown, and how steadily

Valuation18

What today's price implies, against our models or its peers

Governance & risk76

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 36% vs last year
✓ Profit up 50% vs last year
✓ Promoters hold 65%
✓ Strong 23% return on equity
✓ Turns profit into real cash
Watch-outs
! 7.5% of promoter stake pledged

What if I invest in VADILALIND?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹7,378▲ +0.64%
latest close · 2026-11-04
1-year return
+599.4%
52-wk low ₹82452-wk high ₹8,447
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio24.2Average
LowAverageHigh
P/B ratio5.33High
Below bookModerateHigh
EV / EBITDA14.6Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity22.9%Strong
WeakFairStrong ▸15%
Return on capital24.3%Strong
WeakFairStrong
Net margin12.3%Decent
ThinDecentStrong
EBITDA margin19.8%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.14Comfortable
LowModerateHigh ▸1
Interest cover17.8×Strong
RiskyOkayStrong ▸5×
Current ratio3.33Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹5,304 cr
Book value
₹1,384
EPS
₹76.27
latest quarter
Net debt
₹74 cr
owes more than its cash
Enterprise value
₹5,379 cr
EBITDA
₹367 cr
annualised
EBIT
₹309 cr
annualised
Operating margin
16.7%
Return on assets
15.2%
Earnings yield
4.14%
P/S
2.87
Sales / share
₹2,573.4
Tax rate
24.7%
Face value
₹10
Shares
0.7 cr
Working capital
₹553 cr
Current assets
₹791 cr
Current liabilities
₹238 cr
Delivery %
46.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Looks overpricedHigh confidence
Median of 3 models ₹3,432 vs market price ₹7,378 — price is 115% above it
Safety cushion-115.0%(target ≥ +20%)
Models span ₹2,633–₹3,590, midpoint ₹3,432
Model ₹3,432
Price ₹7,378
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹463 cr
Other Income₹8 cr
Total Income₹471 cr
Cost of Materials₹208 cr
Purchases of Stock-in-Trade₹50 cr
Inventory Change (±)₹-27 cr
Employee Benefit Expense₹47 cr
Finance Costs₹4 cr
Depreciation & Amortisation₹15 cr
Other Expenses₹100 cr
Total Expenses₹398 cr
Profit before Tax₹73 cr
Tax Expense₹18 cr
Net Profit₹55 cr
Net margin on total income11.6%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹231 cr49.1%
Employee benefit expense₹47 cr10.1%
Finance costs₹4 cr0.9%
Depreciation & amortisation₹15 cr3.1%
Other expenses₹100 cr21.3%
Tax expense₹18 cr3.8%
Profit for the period₹55 cr11.6%
Total income ₹471 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue416 cr680 cr463 cr
Total income423 cr707 cr471 cr
Expenses344 cr534 cr398 cr
Profit before tax78 cr174 cr73 cr
Tax19 cr43 cr18 cr
Net profit (owners' share)68 cr131 cr57 cr
Net margin (owners' share, on revenue)16.3%19.2%12.3%
EPS (₹)83.10182.1376.27
YoY (latest quarter): total income +35.0% · net profit +50.0%
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹1,506 cr
Shareholder equity
₹995 cr
parent shareholders
Total debt
₹142 cr
Cash
₹68 cr
Cash flow · H1 FY27
Operating
₹301 cr
Investing
₹-261 cr
Financing
₹-10 cr
Peer comparison
Dairy Products · by market value
CompanyPriceMarket capP/E
Hatsun Agro Product Limited₹1,033₹23,011 cr94.9
Milky Mist Dairy Food Limited₹299₹22,999 cr67.9
Kwality Wall's (India) Limited₹38₹8,836 cr42.7
Dodla Dairy Limited₹1,025₹6,187 cr42.3
Vadilal Industries Limitedthis company₹7,331₹5,271 cr24.0
Heritage Foods Limited₹370₹3,433 cr27.4
Parag Milk Foods Limited₹250₹3,119 cr35.4
Sheetal Cool Products Limited₹549₹576 cr20.6
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.81%
trailing 12 months
Dividend / share (TTM)
₹60
Last dividend
₹43
ex 3 Sep 2026
ActionDetailEx-date
Dividend₹43 / share3 Sep 2026
Dividend₹17 / share21 Aug 2026
Dividend₹21 / share12 Sep 2025
Dividend₹1.5 / share19 Sep 2024
Dividend₹1.5 / share14 Sep 2023
Dividend₹1.25 / share21 Sep 2022
Who owns it · 2026-09-30
⚑ 7.5% pledged
Promoter
64.7%
FII / Foreign
1.4%
DII / Domestic
1.6%
Retail / others
32.2%
Smart-money activity
Insider trades
BoughtJAINAA GANDHI · Promoter Group100 · ₹4.9 cr18 Feb 26
BoughtDEVANSHU L GANDHI · Promoters4,2414 Dec 19
Bulk / block deals
short— · NSE517 Aug 26
BoughtPSL LIMITED · NSE1.18 L @ ₹4,581.226 Feb 26
SoldKIFS ENTERPRISE · NSE92,000 @ ₹4,578.476 Feb 26
Stake changes
SoldVirendrabhai Ramchandra Gandhi · promoter→ 0.00% · 2.67 L19 Aug 26
SoldVirendrabhai Ramchandra Gandhi · promoter→ 0.00% · 56,06418 Jul 26
BoughtIVG Trust · promoter→ 93.97% · 56,06418 Jul 26
Promoter pledges
PledgedBajaj Finance Ltd.1.22 L · 0.00% held27 Aug 24
PledgedBajaj Finance Ltd2.28 L · 0.00% held21 Aug 24
PledgedKotak Mahindra Bank Ltd6,000 · 0.00% held3 Feb 22
What shareholders were asked to approve
2 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Special shareholder meeting · 27 Oct 2026
See the official result
1
To consider the approval for the execution of a sale and purchase agreement with Vadilal Enterprises Limited.
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
1.90 L votes for, 0 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 21 named members
owning 64.7% between them · as of 2026-09-30
VADILAL INTERNATIONAL PRIVATE LIMITED39.09%
DEVANSHU L GANDHI4.81%
VADILAL FINANCE COMPANY PRIVATE LTD4.57%
IVG TRUST(THROUGH ITS TRUSTEE JANMAJAY GANDHI)3.71%
VERONICA CONSTRUCTION PVT LTD3.40%
RAJESH RAMCHANDRA GANDHI3.17%
MAMTA RAJESH GANDHI1.70%
GANDHI VIRENDRA RAMCHANDRA HUF1.67%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.