Vardhman Textiles September profit rises 91% to Rs 358.76 crore

Vardhman Textiles Limited reported consolidated profit after tax of Rs 358.76 crore for the quarter ended September 30, 2026, up 91% from Rs 187.76 crore a year earlier. Net revenue from operations was Rs 2,865.65 crore, while textiles segment profit before interest and tax rose to Rs 486.34 crore.

How did Vardhman Textiles perform in the September quarter?

Vardhman Textiles recorded consolidated profit after tax of Rs 358.76 crore in the quarter ended September 30, 2026, compared with Rs 187.76 crore in the September 2025 quarter and Rs 314.56 crore in the June 2026 quarter. Profit before tax was Rs 477.17 crore, against Rs 248.79 crore a year earlier and Rs 418.07 crore in the preceding quarter.

Net revenue from operations rose to Rs 2,865.65 crore from Rs 2,480.10 crore in the comparable quarter of 2025 and Rs 2,703.08 crore in June 2026. Other income was Rs 53.37 crore and total expenses were Rs 2,458.84 crore in the September 2026 quarter. Current tax of Rs 109.72 crore and deferred tax of Rs 8.69 crore resulted in total tax expense of Rs 118.41 crore.

For the half year ended September 30, 2026, Vardhman Textiles reported net revenue from operations of Rs 5,568.73 crore and profit after tax of Rs 673.32 crore. The corresponding figures for the half year ended September 30, 2025 were Rs 4,865.76 crore and Rs 395.44 crore. Share of profit from associates increased to Rs 32.82 crore from Rs 24.33 crore over the same periods.

Which segment drove Vardhman Textiles’ earnings growth?

The textiles segment drove Vardhman Textiles’ earnings growth, reporting profit before interest and tax of Rs 486.34 crore in the September 2026 quarter. That was up from Rs 268.02 crore a year earlier and Rs 434.36 crore in June 2026. Textiles segment revenue reached Rs 2,792.59 crore, compared with Rs 2,417.44 crore in the prior-year quarter and Rs 2,648.18 crore sequentially.

The acrylic fibre segment reported profit before interest and tax of Rs 5.45 crore, compared with Rs 0.93 crore a year earlier but Rs 17.60 crore in June 2026. Its revenue increased to Rs 113.38 crore from Rs 89.41 crore in the September 2025 quarter and Rs 78.25 crore in the June 2026 quarter. The filing does not state why acrylic fibre profit declined despite higher sequential revenue.

Inter-segment revenue was Rs 40.32 crore in the September 2026 quarter, compared with Rs 23.35 crore in June 2026 and Rs 26.75 crore a year earlier. Eliminating this amount from total segment revenue of Rs 2,905.97 crore produced reported net revenue from operations of Rs 2,865.65 crore. Interest expense was Rs 25.77 crore, while other unallocated net expenditure was Rs 5.84 crore.

What changed in Vardhman Textiles’ cash flow and working capital?

Vardhman Textiles generated net cash from operating activities of Rs 996.19 crore in the half year ended September 30, 2026, compared with Rs 715.85 crore in the corresponding 2025 half year. Cash generated from operations before tax was Rs 1,143.73 crore, and net income taxes paid were Rs 147.54 crore. Operating profit before working-capital changes was Rs 1,012.82 crore, against Rs 715.89 crore a year earlier.

Working-capital movements included a Rs 263.15 crore cash release from inventories, whereas inventories used Rs 11.94 crore in the prior-year half. Trade receivables used Rs 210.27 crore, compared with a Rs 30.71 crore release a year earlier. Other current assets released Rs 135.82 crore, while other current financial assets used Rs 99.10 crore.

Net cash used in investing activities was Rs 757.43 crore, compared with Rs 775.23 crore in the prior-year half. Payments for property, plant and equipment, capital work in progress and intangible assets were Rs 527.81 crore, versus Rs 926.09 crore a year earlier. Net cash used in financing activities was Rs 232.79 crore, and cash and cash equivalents at September 30, 2026 stood at Rs 49.27 crore.

How did Vardhman Textiles’ balance sheet change by September 2026?

Vardhman Textiles reported total assets of Rs 14,354.82 crore at September 30, 2026, up from Rs 13,865.55 crore at March 31, 2026. Property, plant and equipment increased to Rs 5,207.09 crore from Rs 5,065.29 crore, while capital work in progress rose to Rs 637.04 crore from Rs 586.20 crore. Current investments increased to Rs 1,528.16 crore from Rs 1,006.42 crore.

Total equity rose to Rs 11,130.17 crore at September 30, 2026 from Rs 10,587.79 crore at March 31, 2026. Non-current borrowings declined to Rs 1,098.51 crore from Rs 1,230.78 crore, while current borrowings increased to Rs 696.91 crore from Rs 624.00 crore. Trade receivables were Rs 1,515.88 crore, up from Rs 1,305.76 crore, and inventories fell to Rs 3,380.13 crore from Rs 3,643.28 crore.

Vardhman Textiles issued 1.01 lakh equity shares with a face value of Rs 2 each under its employee stock option scheme during the September 2026 quarter. The Audit Committee reviewed the unaudited results on November 5, 2026, and the board approved them on November 6, 2026. The statutory auditors subjected the consolidated results to a limited review.

Conclusion

Vardhman Textiles combined higher quarterly revenue with a rise in textiles segment profit before interest and tax from Rs 268.02 crore to Rs 486.34 crore, lifting consolidated profit after tax to Rs 358.76 crore. First-half operating cash generation also increased to Rs 996.19 crore, although the period included a Rs 210.27 crore use of cash in trade receivables.

The next disclosures can show whether the acrylic fibre segment recovers from its sequential profit decline to Rs 5.45 crore and how the group deploys capital work in progress of Rs 637.04 crore. Vardhman Textiles also reported first-half payments of Rs 527.81 crore for property, plant and equipment, capital work in progress and intangible assets, making subsequent capital expenditure and asset additions relevant measures to watch.