Vardhman Textiles LimitedQ1 FY27 Results & Financial Update
Vardhman Textiles Limited: Q1 FY27 consolidated results and company financials – revenue ₹2,703.08 Cr, PAT ₹314.56 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Vardhman Textiles Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Vardhman Textiles Limited reported consolidated revenue from operations of INR 2,703.08 crore for the quarter ended 30 June 2026 (Q1 FY27). Total consolidated income for the period stood at INR 2,781.14 crore, supported by other income of INR 78.06 crore.
Profit before tax (PBT) for Q1 FY27 reached INR 418.07 crore, after accounting for finance costs of INR 23.13 crore and depreciation and amortisation expenses of INR 126.29 crore.
Tax expenses for the quarter amounted to INR 103.51 crore, resulting in a consolidated profit after tax (PAT) of INR 314.56 crore and basic earnings per share of INR 10.86.
On a standalone basis, the company reported revenue from operations of INR 2,648 crore and total EBITDA of INR 528 crore, translating to an EBITDA margin of 19.4% compared to 14.1% in Q4 FY26 and 16.5% in Q1 FY26.
Standalone PAT for the quarter stood at INR 285 crore with a PAT margin of 10.5%, reflecting sequential and year-on-year expansion supported by operational efficiencies and stable realisations.
Yarn production during Q1 FY27 stood at 70,046 MT with sales volume (including internal transfers) of 70,052 MT, while grey fabric production was recorded at 462 lakh metres and processed fabric production reached 408 lakh metres.
The company's capital expenditure pipeline progressed across multiple units, including completed spindle expansions, modernization initiatives, and board-approved additions to garment-manufacturing capacity.
01 · Business model
What does Vardhman Textiles do?
Vardhman Textiles Limited is an integrated textile manufacturer with operations spanning yarn, greige and processed fabrics, garments, sewing threads, fibres, and steel.
The company operates an installed manufacturing base comprising over 1.25 million spindles, 1,550 looms for grey fabric, processing lines with an annual capacity of 240 million metres, and garment-manufacturing infrastructure.
Serving a global footprint across more than 75 countries, the company derives its revenues primarily from yarn and fabric sales distributed across domestic and international markets.
02 · Historical context
What shaped the business before this quarter
Commercial production at two new units, including Processing line-4 (31 million metres per annum) and a Technical Textiles unit (18 million metres per annum), commenced in March 2026.
An expansion of approximately 15,600 spindles was completed in H1 FY26, followed by a further addition of about 17,000 spindles.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹2,703.08 Cr |
| Total income | ₹2,781.14 Cr |
| Profit before tax | ₹418.07 Cr |
| Profit after tax | ₹314.56 Cr |
| EPS | ₹10.86 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
For Q1 FY27, yarn contributed 69.0% of total revenue, while fabric accounted for the remaining 31.0%.
Domestic markets accounted for 53.0% of revenue in Q1 FY27, with export markets contributing 47.0%.
What drove margins
Standalone EBITDA margin rose to 19.4% in Q1 FY27 from 16.5% in Q1 FY26 and 14.1% in Q4 FY26, driven by improved operating leverage and efficiency gains from modernization initiatives.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Yarn production reached 70,046 MT in Q1 FY27 (up 2.0% YoY and 1.0% QoQ), with total sales volume including internal transfers at 70,052 MT.
Grey fabric production was 462 lakh metres in Q1 FY27, down 6.9% YoY and 11.3% QoQ from 521 lakh metres in Q4 FY26.
Processed fabric production (net of production transferred for printing) stood at 408 lakh metres, with total sales including internal transfers at 419 lakh metres.
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Maintains an installed capacity of over 1.25 million spindles across manufacturing locations.
Grey fabric capacity stands at 1,550 looms alongside a processed fabric capacity of 240 million metres per annum.
Shirt manufacturing capacity stands at 7,500 shirts per day.
Projects, capex and execution
Cumulative announced capital expenditure stands at INR 3,660 crore, spanning multiple facility upgrades and expansions.
The board approved expanding the garment unit capacity from 2.2 million to 4.5 million shirts per annum at an estimated investment of approximately INR 125 crore, with completion targeted by the end of FY2026-27.
Open-end spinning project is scheduled for completion by FY 2027-28.
Green capex is being implemented in phases with expected completion by FY27, while modernization and automation initiatives have been largely completed.
07 · Reported developments
What changed operationally
Modernization, automation, and technology upgradation initiatives have been largely completed, leading to improved operational efficiency and enhanced process capabilities.
08 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Standalone total borrowings stood at INR 1,852 crore as of 31 March 2026, comprising long-term borrowings of INR 1,231 crore and short-term borrowings of INR 622 crore.
09 · Beyond the numbers
What changed beyond the numbers
Reported update
Industry recognitions
Various manufacturing units received multiple awards at the CII National Kaizen Competition 2026, CII Industrial Safety Excellence Summit, and QCFI Convention on Operational Excellence.
10 · Previous-quarter changes
What changed since the previous quarter
Standalone yarn sales volumes decreased by 2.6% sequentially from 71,904 MT in Q4 FY26 to 70,052 MT in Q1 FY27, while grey fabric sales volumes declined by 12.1% QoQ.
11 · Key Q&A
The quarter, answered directly
What does Vardhman Textiles do?
Vardhman Textiles Limited is an integrated textile manufacturer with operations spanning yarn, greige and processed fabrics, garments, sewing threads, fibres, and steel.
What is the clearest takeaway from Q1 FY27?
Vardhman Textiles Limited reported consolidated revenue from operations of INR 2,703.08 crore for the quarter ended 30 June 2026 (Q1 FY27). Total consolidated income for the period stood at INR 2,781.14 crore, supported by other income of INR 78.06 crore.
What drove revenue or demand?
For Q1 FY27, yarn contributed 69.0% of total revenue, while fabric accounted for the remaining 31.0%.
What mattered most for margins or profitability?
Standalone EBITDA margin rose to 19.4% in Q1 FY27 from 16.5% in Q1 FY26 and 14.1% in Q4 FY26, driven by improved operating leverage and efficiency gains from modernization initiatives.
What changed operationally beyond the headline numbers?
Maintains an installed capacity of over 1.25 million spindles across manufacturing locations.
What should the next disclosure help confirm?
Monitor the commissioning and ramp-up of the garment unit capacity expansion from 2.2 million to 4.5 million shirts per annum by the end of FY27.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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13 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Garment expansion execution: Monitor the commissioning and ramp-up of the garment unit capacity expansion from 2.2 million to 4.5 million shirts per annum by the end of FY27.
- 02
Open-end project progress: Track execution milestones for the open-end spinning project toward its targeted completion in FY 2027-28.
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