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Vadilal Industries (VADILALIND)₹7,032−2.05%Dairy Products
In the Sep 2026 quarter (consolidated), Vadilal Industries reported sales of ₹463 Cr, up 35.8% from Sep 2025, and net profit of ₹55.20 Cr, up 66.7% year on year. For the year to Mar 2026, sales were ₹1,502 Cr and net profit ₹156 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 174 | 251 | 464 | 296 | 204 | 275 | 506 | 341 | 239 | 416 | 680 | 463 |
| Expenses | 164 | 207 | 353 | 236 | 179 | 237 | 408 | 291 | 228 | 332 | 516 | 381 |
| Operating Profit | 11.03 | 46.15 | 113 | 61.14 | 26.07 | 39.09 | 100 | 51.18 | 11.03 | 85.20 | 167 | 84.23 |
| OPM % | 6.0% | 17.9% | 23.9% | 20.0% | 12.9% | 13.9% | 19.9% | 14.9% | 4.7% | 20.0% | 23.9% | 18.0% |
| Other Income | 3.99 | 2.99 | 3.99 | 4.99 | 3.99 | 2.99 | 3.99 | 6.98 | 3.99 | 6.99 | 26.92 | 7.98 |
| Interest | 3.99 | 3.99 | 3.99 | 2.99 | 2.99 | 3.99 | 3.99 | 3.99 | 3.99 | 4.99 | 3.99 | 3.99 |
| Depreciation | 7.98 | 8.98 | 10.97 | 10.98 | 9.97 | 10.97 | 11.98 | 11.97 | 11.96 | 13.96 | 14.96 | 14.96 |
| Profit before tax | 3.01 | 35.01 | 103 | 52.08 | 17.02 | 27.02 | 89.05 | 43.02 | 0.00 | 73.03 | 174 | 73.04 |
| Tax % | −210.0% | 21.0% | 25.0% | 25.0% | 31.0% | 19.0% | 25.0% | 23.0% | 150.0% | 25.0% | 25.0% | 25.0% |
| Net Profit | 9.04 | 28.10 | 77.24 | 39.16 | 12.05 | 22.07 | 67.28 | 33.11 | 0.00 | 55.23 | 131 | 55.20 |
| EPS (Rs) | 12.85 | 38.43 | 107.70 | 54.22 | 16.59 | 30.62 | 93.22 | 46.53 | −0.23 | 76.31 | 182.05 | 76.26 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 450 | 482 | 547 | 567 | 598 | 463 | 697 | 1,057 | 1,124 | 1,240 | 1,502 | 1,796 |
| Expenses | 392 | 426 | 501 | 496 | 523 | 430 | 602 | 895 | 908 | 1,003 | 1,258 | 1,457 |
| Operating Profit | 58.16 | 57.11 | 48.16 | 73.15 | 79.21 | 36.07 | 99.27 | 166 | 222 | 242 | 250 | 347 |
| OPM % | 13.0% | 12.0% | 9.0% | 13.0% | 13.0% | 8.0% | 13.9% | 16.0% | 19.9% | 18.9% | 17.0% | 19.3% |
| Other Income | 0.99 | 2.99 | 5.98 | 9.97 | 9.98 | 15.97 | 7.98 | 9.98 | 11.97 | 14.95 | 20.96 | 45.88 |
| Interest | 20.92 | 15.94 | 14.95 | 13.95 | 16.95 | 20.95 | 18.95 | 15.95 | 17.94 | 13.97 | 15.96 | 16.96 |
| Depreciation | 13.98 | 14.98 | 15.96 | 16.97 | 23.95 | 22.93 | 23.96 | 29.91 | 34.94 | 41.90 | 48.87 | 55.84 |
| Profit before tax | 24.03 | 29.02 | 23.02 | 52.08 | 48.07 | 8.01 | 64.02 | 131 | 180 | 200 | 205 | 320 |
| Tax % | 40.0% | 35.0% | 32.0% | 36.0% | 14.0% | 40.0% | 30.0% | 26.0% | 19.0% | 25.0% | 24.0% | — |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | −2.01 | 0.00 | 3.01 | 3.01 | — |
| Net Profit | 15.06 | 19.07 | 16.06 | 33.14 | 41.17 | 5.02 | 45.14 | 96.36 | 147 | 150 | 156 | 242 |
| EPS (Rs) | 20.54 | 26.54 | 21.78 | 46.43 | 57.61 | 6.43 | 62.17 | 134.06 | 202.95 | 209.16 | 215.74 | 334.39 |
| Dividend payout % | 6.0% | 5.0% | 6.0% | 3.0% | 0.0% | 0.0% | 2.0% | 1.0% | 1.0% | 10.0% | 19.9% | — |
| 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 | 6.99 | 6.99 | 6.99 | 6.99 | 6.99 | 6.99 | 6.99 | 6.99 | 6.99 | 6.99 | 6.99 | 7.00 |
| Reserves | 106 | 120 | 154 | 168 | 199 | 239 | 244 | 290 | 389 | 534 | 687 | 841 |
| Borrowings | 153 | 122 | 119 | 141 | 149 | 175 | 159 | 187 | 292 | 224 | 219 | 231 |
| Other Liabilities | 104 | 117 | 134 | 123 | 122 | 153 | 159 | 140 | 150 | 152 | 181 | 189 |
| Total Liabilities | 370 | 366 | 414 | 439 | 477 | 574 | 567 | 623 | 838 | 917 | 1,093 | 1,268 |
| Fixed Assets | 227 | 226 | 252 | 258 | 268 | 319 | 313 | 308 | 404 | 445 | 479 | 537 |
| CWIP | 1.01 | 1.01 | 5.01 | 7.01 | 13.01 | 9.01 | 5.01 | 3.01 | 20.03 | 12.01 | 10.01 | 20.01 |
| Investments | 0.00 | 0.00 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 4.99 | 15.99 | 5.99 | 20.97 |
| Other Assets | 143 | 141 | 158 | 175 | 195 | 246 | 249 | 312 | 409 | 444 | 599 | 690 |
| Inventories | 97.21 | 94.19 | 123 | 102 | 127 | 155 | 141 | 165 | 256 | 229 | 312 | 337 |
| Trade receivables | 16.05 | 22.09 | 11.04 | 42.14 | 31.13 | 44.20 | 45.14 | 65.25 | 77.24 | 97.34 | 124 | 178 |
| Cash & equivalents | 5.01 | 4.01 | 6.02 | 5.02 | 9.02 | 19.05 | 36.09 | 52.09 | 37.09 | 54.12 | 40.12 | 43.11 |
| Total Assets | 370 | 366 | 414 | 439 | 477 | 574 | 567 | 623 | 838 | 917 | 1,093 | 1,268 |
| 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 | 50.16 | 64.19 | 46.13 | 17.05 | 44.13 | 67.22 | 82.19 | 32.06 | 39.13 | 193 | 111 | 143 |
| Cash from investing activity | −8.01 | −11.02 | −23.05 | −24.03 | −31.02 | −67.14 | −11.02 | −20.04 | −62.09 | −66.13 | −58.06 | −104 |
| Cash from financing activity | −40.89 | −52.89 | −19.95 | 5.98 | −9.98 | 3.99 | −55.88 | 7.98 | 8.98 | −114 | −60.87 | −37.93 |
| Net cash flow | 1.01 | −1.01 | 3.01 | −1.01 | 4.01 | 4.01 | 16.02 | 20.03 | −13.02 | 12.02 | −8.02 | 1.01 |
| Capex | 8.97 | 12.95 | 23.89 | 24.90 | 32.88 | 67.73 | 14.95 | 20.91 | 57.76 | 59.81 | 79.65 | 96.61 |
| Free cash flow | 42.05 | 51.08 | 22.03 | −8.01 | 12.01 | −2.01 | 67.07 | 11.01 | −18.01 | 133 | 33.04 | 47.06 |
| CFO / OP % | 130.0% | 116.0% | 92.0% | 45.0% | 82.0% | 101.0% | 236.0% | 44.0% | 50.0% | 108.0% | 63.0% | 76.0% |
| 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 | 14 | 18 | 8 | 28 | 20 | 27 | 36 | 34 | 27 | 31 | 36 | 43 |
| Inventory days | 144 | 138 | 135 | 119 | 157 | 179 | 211 | 170 | 167 | 146 | 234 | 196 |
| Days payable | 97 | 105 | 93 | 92 | 87 | 99 | 166 | 86 | 59 | 63 | 89 | 72 |
| Cash conversion cycle | 63 | 52 | 52 | 57 | 92 | 108 | 82 | 120 | 136 | 116 | 183 | 169 |
| Working capital days | −50 | −41 | −38 | −5 | −6 | −15 | −21 | 16 | 28 | 49 | 82 | 88 |
| ROCE % | 10.0% | 18.0% | 17.0% | 13.0% | 20.0% | 17.0% | 7.1% | 19.0% | 26.0% | 27.0% | 25.0% | 22.0% |
For the Sep 2026 quarter, Vadilal Industries reported sales of ₹463 Cr, up 35.8% year on year and net profit of ₹55.20 Cr, up 66.7% year on year. The operating margin was 18.0%.
Vadilal Industries' sales for the year to Mar 2026 were ₹1,502 Cr; over the last twelve months they were ₹1,796 Cr.
Net profit for the year to Mar 2026 was ₹156 Cr, and ₹242 Cr over the last twelve months. Earnings per share over the same trailing period were ₹334.39.
Vadilal Industries reported borrowings of ₹231 Cr at Mar 2026, against cash and equivalents of ₹43.11 Cr.
Cash from operations was ₹143 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹47.06 Cr.