Overview

Detailed Summary

Varvee Global Limited is an integrated textile manufacturer based in Ahmedabad operating an end-to-end Narol facility that produces denim and non-denim fabrics, covering yarn warping, sizing, dyeing, weaving and finishing for domestic and export markets while repositioning from denim toward higher-margin shirting and suiting fabrics.
After the ownership change effective July 5, 2025, Varvee Global achieved full bank debt repayment by June 3, 2025, secured lender 'No Due' confirmations, and received an India Ratings 'IND BB/Positive' issuer rating on January 28, 2026, improving institutional credibility and freeing cashflow for reinvestment under the new promoter group.
Financials reflect a rapid operational turnaround: Q3 FY26 revenue rose 104.3% YoY to ₹121.36 million, 9M FY26 revenue increased 12.78% to ₹394.15 million, 9M EBITDA turned positive at ₹112.55 million (28.55% margin) and 9M gross margin expanded to 84.49%, showing meaningful operating leverage from mix shift and cost discipline.
Operations are being actively reprofiled toward value-added non-denim: management increased non-denim capacity 50% to 18 lakh metres per month and articulated a long-term goal to reach 50 lakh metres per month by converting denim capacity, a strategic pivot aimed at smoothing seasonality and lifting blended margins.

Sector: Textiles
Industry: Textiles - Denim Fabric
Market Cap: 334 Cr
Volatility: Low Risk
P/E Ratio: -4.0
Industry P/E: 21.6
PEG Ratio: —
P/B Ratio: 3.3
52W High: 98.50
52W Low: 56.53

Sales CAGR

1Y: -24.87%
3Y: -53.46%
5Y: -40.40%
10Y: -28.24%

Profit CAGR

1Y: -3946.79%
3Y: —
5Y: —
10Y: 11.39%

ROE

TTM: 19.40%
3Y: -79.69%
5Y: -48.18%
10Y: -13.02%

ROCE

TTM: 5.87%
3Y: -8.70%
5Y: -10.49%
10Y: 2.23%

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
BANSWRAS	109.95	376 Cr	14.72	0.67	0.91	3.87	6.91	2.03
SOMATEX	109.65	362 Cr	69.40	2.25	0.00	-1.19	-1.69	3.16
NDL	2.48	353 Cr	10.33	0.55	0.00	5.92	9.08	2.78
SUDITIND	82.30	353 Cr	29.07	10.60	0.00	32.94	23.66	10.06
AXITA	8.86	339 Cr	556.26	5.40	0.00	0.55	2.07	-1.71
VGL	65.20	334 Cr	-4.00	3.26	0.00	19.40	5.87	15.51
GINNIFILA	34.86	299 Cr	8.61	1.36	0.00	19.12	20.66	11.32

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020
Sales	217	178	177	181	168	168	111	118
Expenses	198	159	156	157	171	162	97	100
Operating Profit	19	19	21	23	-3.55	6.17	14	18
OPM %	8.79	10.71	11.91	12.80	-2.12	3.67	12.49	14.92
Other Income	1.19	0.93	0.25	0.43	0.38	0.40	0.62	0.33
Interest	11	11	12	14	12	13	13	14
Depreciation	7.96	8.29	8.35	9.38	9.56	9.58	9.59	9.62
Profit Before Tax	0.89	0.32	0.45	0.06	-25	-16	-8.00	-6.14
Tax %	35.96	162.50	28.89	-566.67	0.83	-2.65	-2.38	228.34
Net Profit	0.57	-0.20	0.32	0.40	-25	-17	-8.19	7.88
EPS in Rs	0.22	-0.08	0.13	0.15	-9.70	-6.46	-3.18	3.06

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	TTM
Sales	827	752	565	565
Expenses	747	669	531	531
Operating Profit	80	82	34	34
OPM %	9.70	10.94	6.03	6.03
Other Income	2.54	2.79	1.73	1.73
Interest	43	49	53	53
Depreciation	33	34	38	38
Profit Before Tax	6.37	1.73	-56	-56
Tax %	12.02	36.94	24.49	24.51
Net Profit	5.61	1.09	-42	-42
EPS in Rs	—	0.41	-16.28	-16.28
Dividend Payout %	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020
Equity Capital	23	23	23
Reserves	248	250	208
Borrowings	377	429	412
Other Liabilities	270	247	200
Total Liabilities	919	949	843
Fixed Assets	363	389	350
CWIP	0.00	0.00	0.00
Investments	0.00	0.00	0.00
Other Assets	556	560	492
Total Assets	919	949	843

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020
Cash from Operating Activity	38	51	65
Cash from Investing Activity	-19	-53	4.89
Cash from Financing Activity	-19	2.88	-70
Net Cash Flow	0.08	0.10	-0.96

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	May 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	65.80%	65.80%	65.80%	65.80%	65.80%	60.81%	60.81%	38.77%	30.56%	33.56%	65.63%	65.63%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.37%	0.25%	0.00%	0.00%	0.01%	0.00%	0.00%
DIIs	2.11%	2.11%	2.11%	2.11%	2.11%	0.00%	0.00%	0.07%	1.30%	0.07%	1.30%	1.30%
Public	32.10%	32.10%	32.10%	32.10%	32.10%	38.81%	38.94%	61.16%	68.14%	66.36%	33.07%	33.06%
Total Shareholders	9,634	10,014	10,566	11,439	11,303	10,439	10,181	10,202	10,008	10,237	10,341	9,898

Market Transactions

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Q3 FY26

Investor Presentation

Q2 FY26

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Announcements

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Sentiment

Stock Split

3 days ago

Share Sub-division (1:2) — Varvee Global

Varvee Global effected a 1:2 sub-division of equity shares (face value ₹10 → ₹5); new ISIN INE273D01027 was credited on 03-Mar-2026 per NSDL/CDSL confirmations; issued/paid-up shares rose from 25,764,339 to 51,528,678.

Share Sub-division

3 days ago

Depositories confirm 1:2 sub-division (₹10 to ₹5) and credit shares

NSDL and CDSL confirmed credit of sub-divided shares under new ISIN INE273D01027 following a 1:2 split of face value from ₹10 to ₹5 (effective 03-Mar-2026); issued/paid-up shares doubled to 51,528,678 while total share capital remains ₹25,76,43,390.

Change in Directors/KMP

5 days ago

Resignation of Independent Director Kandarp Trivedi

Varvee Global Ltd informed that Independent Director Mr. Kandarp Trivedi (DIN:00314065) resigned effective close of business on 02-Mar-2026 due to other professional commitments and personal reasons; he also ceased committee memberships and confirmed no other material reasons.

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Frequently Asked Questions about Varvee Global Ltd

Varvee Global Ltd (VGL) is currently trading at 65.20 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.

Varvee Global Limited is an integrated textile manufacturer based in Ahmedabad operating an end-to-end Narol facility that produces denim and non-denim fabrics, covering yarn warping, sizing, dyeing, weaving and finishing for domestic and export markets while repositioning from denim toward higher-margin shirting and suiting fabrics. After the ownership change effective July 5, 2025, Varvee Global achieved full bank debt repayment by June 3, 2025, secured lender 'No Due' confirmations, and received an India Ratings 'IND BB/Positive' issuer rating on January 28, 2026, improving institutional credibility and freeing cashflow for reinvestment under the new promoter group. Financials reflect a rapid operational turnaround: Q3 FY26 revenue rose 104.3% YoY to ₹121.36 million, 9M FY26 revenue increased 12.78% to ₹394.15 million, 9M EBITDA turned positive at ₹112.55 million (28.55% margin) and 9M gross margin expanded to 84.49%, showing meaningful operating leverage from mix shift and cost discipline. Operations are being actively reprofiled toward value-added non-denim: management increased non-denim capacity 50% to 18 lakh metres per month and articulated a long-term goal to reach 50 lakh metres per month by converting denim capacity, a strategic pivot aimed at smoothing seasonality and lifting blended margins.

Over the past 52 weeks, Varvee Global Ltd has traded between a low of ₹56.53 and a high of ₹98.50. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.

Varvee Global Ltd has a market capitalization of approximately 333.55. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.

Varvee Global Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of -4.00 and operates in the Textiles sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.

Based on its market capitalization of 333.55 Cr, Varvee Global Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.

Varvee Global Ltd operates in the Textiles sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.

The Price-to-Earnings (PE) ratio of Varvee Global Ltd is -4.00. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.

Varvee Global Ltd

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