Operates in the FMCG food products space, classified under the dairy products industry, selling packaged food and dairy items to consumers through retail channels. In FY26, consolidated revenue was Rs 1,503.12 crore, up 21.2% from Rs 1,240.26 crore in FY25, while standalone revenue grew 9.5% to Rs 1,109.54 crore; the gap between standalone and consolidated figures indicates subsidiaries add meaningfully to the top line. Manufacturing runs from three plant locations — Bareilly, Dharampur and Pundhra — across which the company recently reviewed minimum-wage compliance for both direct employees and contract workmen. The cost stack is dominated by raw materials at 43.1% of revenue, followed by other operating expenses at 22.3% and employee costs at 11.2%, leaving depreciation at 3.2% and an EBITDA margin of roughly 18% on a consolidated basis. Consolidated net profit for FY26 was Rs 155.11 crore, and the board doubled the dividend to Rs 43 per share. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Packaged food and dairy products. FMCG food and dairy products manufacturer with three plants, mid-teen EBITDA margin
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 698 | 1,058 | 1,125 | 1,238 | 1,503 |
| EBITDA (ex other income) | 99 | 163 | 220 | 238 | 249 |
| margin % | 14.2 | 15.4 | 19.6 | 19.2 | 16.6 |
| Owners' profit | 45 | 96 | 146 | 154 | 170 |
| EPS, as reported (₹) | 62.19 | 133.97 | 203.05 | 209.15 | 215.78 |
| ROE % · ROCE % | 15.0 · 20.5 | 24.2 · 26.0 | 26.9 · 28.2 | 21.6 · 24.0 | 18.2 · 20.9 |
| Debt / equity (x) | 0.58 | 0.51 | 0.22 | 0.12 | 0.11 |
| Cash from operations | 32 | 39 | 192 | 130 | 143 |
| Capex | (21) | (58) | (1) | (2) | (1) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 296 | 204 | 274 | 506 | 341 | 238 | 416 | 680 |
| Profit before tax | 52 | 17 | 27 | 89 | 43 | (0) | 78 | 174 |
| Net profit | 39 | 12 | 22 | 67 | 33 | (0) | 60 | 131 |
| EPS (₹) | 108.46 | 16.60 | 30.61 | 93.19 | 46.50 | (0.22) | 83.10 | 182.13 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| HATSUN AGRO PRODUCT LTD. | 27,402 | 78.6 | 14.98 | 28.6 | 13.4 | 10.5 | — | 10.9 |
| KWALITY WALL'S (INDIA) L | 10,176 | — | 15.14 | — | (54.9) | (37.5) | — | 13.5 |
| DODLA DAIRY LIMITED | 6,517 | 26.6 | 3.89 | 17.6 | 15.9 | 15.7 | 16.2 | 6.6 |
| VADILAL INDUSTRIES LTD ◆ | 4,972 | 22.2 | 5.85 | 18.6 | 18.2 | 19.3 | 26.5 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Vadilal Industries 42nd AGM: All 4 resolutions passed, dividend cleared | board shareholder meetings | low | — | — |
| 11 Sept 2026 · Distribution agreement with Vadilal Enterprises will not be renewed from October 2026 | business updates | low | — | — |
| 10 Sept 2026 · Vadilal Industries 42nd AGM: 4 Resolutions Passed Including Dividend Approval | board shareholder meetings | medium | — | — |
| 22 Aug 2026 · Promoter Virendrabhai Gandhi transfers shares to IVG Trust - no change in promoter holding | ownership changes | medium | — | — |
| 22 Aug 2026 · IVG Trust acquires 3.71% in Vadilal Industries from promoter Gandhi | ownership changes | high | — | — |
| 22 Aug 2026 · IVG Trust acquires 3.71% in VIL and 10.64% in VEL | ownership changes | high | — | — |
| 20 Aug 2026 · Promoter Virendrabhai Gandhi gets shares via gifts in Vadilal group | ownership changes | medium | — | — |
| 20 Aug 2026 · Promoter Virendrabhai Gandhi acquires 1.54% in VIL and 2.62% in VEL via family gifts | ownership changes | high | — | — |
| 18 Aug 2026 · Vadilal Industries fixes 3 Sep 2026 as record date for final dividend FY26 | corporate actions | high | — | — |
| 17 Aug 2026 · Vadilal Industries files Business Responsibility and Sustainability Report for FY 2025-26 | compliance | low | — | — |
| Where a broker report shows | This document shows |
|---|
| 28.4 |
| HERITAGE FOODS LTD | 3,888 | 28.8 | 3.51 | 13.9 | 13.5 | 13.8 | 12.8 | 5.1 |
| PARAG MILK FOODS LTD. | 3,327 | 25.3 | 2.64 | 12.7 | 10.7 | 10.1 | 15.7 | 7.4 |
| VADILAL ENTERPRISES LTD. | 894 | 17.6 | 27.03 | — | 31.6 | 17.4 | — | 0.7 |
| MILKFOOD LTD. | 197 | 17.1 | 1.17 | 12.2 | (5.1) | (3.2) | (4.1) | (3.0) |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 22.2 | 19.7 | 8 of 12 | 36% |
| P/B | 5.8 | 3.5 | 8 of 11 | 30% |
| ROCE | 19.3 | 10.1 | 1 of 13 | 100% |
| ROE | 18.2 | 12.1 | 2 of 12 | 91% |
| Debt / Equity | 0.1 | 0.3 | 4 of 12 | 73% |
| EBITDA margin | 28.4 | 6.5 | 1 of 11 | 100% |
| Revenue growth | 34.4 | 17.7 | 3 of 11 | 80% |
| Profit growth | 95.5 | 19.8 | 2 of 10 | 89% |
| Market cap | 4972 | 894 | 4 of 13 | 75% |
| Why |
|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
