NSE: VTMLTD · BSE: 532893
V T M LTD.
Manufactures textiles, primarily home textiles, from a Tamil Nadu facility. Roughly 60% of revenue comes from home textiles and about 64% from exports, with the US as the dominant market. Customer concentration is high — a single US retailer (Quince) accounts for 40-45% of revenue, and the top customer group is around 50%. A new garment factory is running at full capacity, and a ₹50 crore Tamil Nadu MoU targets further loom expansion. Materials account for 68.2% of revenue and employees 7.2%. FY26 revenue was ₹371.98 crore with EBITDA margin of 7.56%, compared with FY25's 19.4% — a decline attributed primarily to ₹1,997.40 lakhs of customer discounts given to absorb the impact of US tariffs on home textiles. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Home textiles (60%), Other textile products (40%). Export-oriented, US-exposed textile manufacturer with concentrated customer base and high tariff sensitivity.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 194 | 209 | 208 | 345 | 372 |
| EBITDA (ex other income) | 23 | 17 | 26 | 67 | 25 |
| margin % | 11.9 | 8.2 | 12.5 | 19.4 | 6.6 |
| Owners' profit | 15 | 9 | 18 | 45 | 11 |
| EPS, as reported (₹) | 0.00 | 2.27 | 4.55 | 11.28 | 1.11 |
| ROE % · ROCE % | 6.4 · 7.6 | 3.7 · 5.1 | 7.0 · 8.9 | 14.8 · 19.5 | 3.6 · 4.9 |
| Debt / equity (x) | 0.03 | 0.02 | 0.01 | 0.13 | 0.24 |
| Cash from operations | 7 | 22 | (12) | (38) | 11 |
| Capex | (4) | (8) | (13) | (22) | (26) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 59 | 73 | 104 | 109 | 72 | 90 | 100 | 110 |
| Profit before tax | 9 | 13 | 25 | 16 | 6 | 3 | 5 | 1 |
| Net profit | 6 | 10 | 18 | 12 | 5 | 2 | 3 | 1 |
| EPS (₹) | 1.59 | 2.43 | 4.52 | 3.03 | 0.46 | 0.23 | 0.34 | 0.09 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| KPR MILL LTD. | 37,325 | 40.9 | 6.55 | 27.0 | 15.2 | 19.3 | 13.5 | 21.2 |
| WELSPUN LIVING LIMITED | 20,367 | 74.1 | 4.09 | 26.1 | 4.3 | 4.0 | 5.1 | 12.7 |
| VARDHMAN TEXTILES LIMITED | 14,669 | 17.0 | 1.39 | 11.3 | 7.1 | 7.4 | 10.0 | 20.4 |
| TRIDENT LIMITED | 10,870 | 27.4 | 2.28 | 13.4 | 7.9 | 8.6 | 8.1 | 17.7 |
| INDO COUNT INDUSTRIES LTD | 8,471 | 56.1 | 3.60 | 20.4 | 5.4 | 5.4 | 10.5 | 13.3 |
| GARWARE TECH FIBRES LTD | 7,310 | 35.3 | 5.40 | 22.9 | 14.7 | 18.7 | 8.1 | 20.5 |
| FILATEX INDIA LTD | 4,207 | 22.0 | 2.80 | 11.5 | 12.2 | 13.8 | — | 7.6 |
| SANATHAN TEXTILES LIMITED | 4,178 | 68.8 | 2.23 | 18.6 | 4.1 | 3.5 | — | 8.4 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 37.5 | 16.8 | 135 of 179 | 25% |
| P/B | 1.3 | 1.1 | 101 of 185 | 46% |
| ROCE | 4.4 | 4.3 | 106 of 215 | 51% |
| ROE | 3.6 | 4.7 | 108 of 188 | 43% |
| Debt / Equity | 0.2 | 0.4 | 76 of 188 | 60% |
| EBITDA margin | 4.3 | 9.8 | 146 of 198 | 26% |
| Revenue growth | 1.4 | 6.9 | 111 of 192 | 42% |
| Profit growth | (92.6) | 20.0 | 167 of 203 | 18% |
| Market cap | 422 | 61 | 44 of 223 | 81% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board meeting to consider quarter and half-year results | results | low | — | — |
| 17 Oct 2026 · Compliance Certificate from Transfer Agent for Q2 FY2027 | compliance | minimal | — | — |
| 16 Oct 2026 · VTM Ltd responds to BSE and NSE query on share price movement | regulatory legal | low | — | — |
| 15 Oct 2026 · NSE seeks clarification from VTM on sharp price movement | regulatory legal | medium | — | — |
| 30 Sept 2026 · Trading window closed for Q2 FY27 results | compliance | minimal | — | — |
| 13 Aug 2026 · Company update filing - details could not be extracted | results | medium | — | — |
| 12 Aug 2026 · VTM Ltd appoints G. Gomathi Meenakshi as Company Secretary from 14 Aug 2026 | management changes | medium | — | — |
| 12 Aug 2026 · Company Secretary K Preyatharshine resigns from VTM Limited | management changes | medium | — | — |
| 12 Aug 2026 · VTM Q1 FY27: Revenue up 37%, but net profit falls 58% YoY | results | high | — | — |
| 12 Aug 2026 · VTM Ltd Q1 FY27 results: profit falls, revenue up; Company Secretary exits | management changes | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | 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 |
Sources, method and disclosures
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.