N R Vandana Tex IndustriesShare price, financial results, shareholding and management
- Market cap
- ₹164 cr
- Stock P/E
- 15.6peers 25.0
- Book value
- ₹31.1
- Price to book
- 2.26
- EV / operating profit
- 10.6
- Market cap to sales
- 0.54
- ROCE · FY26
- 17.1%
- ROE · FY26
- 19.2%
- ROE, 3-year average
- 21.1%
- Operating margin · FY26
- 7.8%peers 7.0%
- Sales growth, 3 years
- 16.0%
- Profit growth, 3 years
- 73.9%
- Debt to equity
- 1.40peers 0.79
- Borrowings
- ₹101 cr
- Interest cover
- 2.4×
- Cash from business / op. profit
- -156%
- Debtor days
- 195
- Pledged
- 0.00%
- Promoter holding
- 73.39%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 505
- 52-week high / low
- ₹83 / ₹42
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
N R Vandana Tex Industries share price chart
Close on 6 Nov 2026 · +0.50% on the day · Vol 4,500
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -2.4%
- 3 months
- +3.0%
- 6 months
- +7.9%
- 1 year
- +12.2%
- Since IPO
- +56.2%
- Traded a day, 20 days
- ₹0.47 cr
- Taken for delivery
- 67%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +12% | +17% |
| 3 years, a year | +16% | +74% |
| Latest half, H2 FY26 | +21% | +19% |
About N R Vandana Tex Industries: business, products and customers
N R Vandana Tex Industries designs and makes cotton sarees in West Bengal under the Vandana brand and sells them to saree wholesalers, mostly in eastern India. Its shares trade on NSE Emerge.
N R Vandana Tex Industries makes printed and embroidered cotton sarees under the Vandana and Tanaya names, with a catalogue of more than 1,500 designs. Sarees made up 98.32% of FY25 revenue; unstitched salwar suits, added in 2016, and bedsheets, added in 2023, made up the rest.
The company sells through a network of saree wholesalers, 1,397 of them in FY25, and through business to business trading apps, mainly Solv. West Bengal alone gave 77.18% of FY25 sales, and the eastern region 88.10%. Wholesale customers get four to five months of credit, so a large part of each year's sales is waiting to be collected.
Read more about the business
The business traces back to a saree shop in Kolkata before independence; the company was formed in 1992 as N R Design Centre Private Limited and set up its first factory in Hooghly in 1998. Today it prints, embroiders, finishes and packs at three units in Ghosal Para, Serampore, and also uses outside job workers, 229 of them in FY25.
The company listed on NSE Emerge after a fresh issue of 61.98 lakh shares raising ₹27.9 cr in May 2025, meant mainly for working capital and loan repayment. Crisil rates its ₹31 cr of bank facilities BB/Stable on an issuer not cooperating basis, saying the company did not share the information it asked for.
From the offer document (prospectus, May 2025) and Crisil's rating rationales of April 2025 and June 2026.
Read the deeper study ↓In its favour
- The promoters own a large part of the company: 73.39%.
To watch
- Collection from customers: the offer document planned to bring trade receivable days down to 89 in FY26, from 102 in FY25 (Offer document, p.96).
- Use of the IPO money: ₹16.3 cr for working capital and ₹5.0 cr for loan repayment (Offer document, p.93).
- The Crisil rating, on an issuer not cooperating basis since April 2025 and continued in June 2026 (Crisil rating rationale, June 2026, p.1).
- An income tax demand of ₹4.1 cr for assessment year 2019, raised in March 2025 and outstanding at the IPO (Offer document, p.261).
- Customers take longer to pay than before: 195 days in FY26, against 154 in FY22.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
N R Vandana Tex Industries revenue and profit growth
Half-yearly results · Profit and lossSales have grown steadily. Last year profit grew roughly in step with sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before.
N R Vandana Tex Industries half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 127 | 144 | 130.58 | 173.57 |
| Expenses | 118 | 134 | 119.22 | 161.16 |
| Operating profit | 9 | 10 | 11.36 | 12.42 |
| OPM | 7.0% | 7.0% | 8.7% | 7.2% |
| Interest | 4 | 4 | 3.61 | 6.36 |
| Depreciation | 0 | 0 | 0.17 | 0.17 |
| Profit before tax | 5 | 6 | 7.64 | 6.36 |
| Net profit | 4 | 4 | 5.72 | 4.74 |
N R Vandana Tex Industries profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 177 | 195 | 220 | 271 | 304.15 |
| Expenses | 169 | 185 | 206 | 252 | 280.37 |
| Operating profit | 8 | 10 | 14 | 19 | 23.78 |
| OPM | 4.4% | 5.0% | 6.0% | 7.0% | 7.8% |
| Other income | 0 | 0 | 0 | 0 | 0.54 |
| Interest | 5 | 7 | 8 | 8 | 9.97 |
| Depreciation | 0 | 1 | 0 | 0 | 0.34 |
| Exceptional and other items | -1 | 1 | · | · | · |
| Profit before tax | 2 | 3 | 6 | 11 | 14.01 |
| Tax rate | 0.0% | 33.3% | 33.3% | 18.2% | 24.9% |
| Net profit | 2 | 2 | 4 | 9 | 10.52 |
| EPS ₹ | · | · | · | 5 | 4.73 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | · |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
N R Vandana Tex Industries profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 4.4% | 5.0% | 6.0% | 7.0% | 7.8% |
| Tax rate | 0.0% | 33.3% | 33.3% | 18.2% | 24.9% |
| ROCE | · | 13.7% | 15.3% | 18.7% | 17.1% |
| ROE | · | 10.0% | 16.3% | 27.7% | 19.2% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | · |
N R Vandana Tex Industries debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are now larger than its own money. Last year the business used more cash than it brought in. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
N R Vandana Tex Industries balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 3 | 3 | 3 | 17 | 23.29 |
| Reserves | 16 | 18 | 25 | 20 | 49.17 |
| Net worth | 19 | 21 | 28 | 37 | 72.47 |
| Borrowings | 41 | 65 | 69 | 69 | 101.43 |
| Other liabilities | 67 | 82 | 87 | 97 | 93.81 |
| Total liabilities | 127 | 168 | 184 | 203 | 267.71 |
| Fixed assets | 6 | 7 | 6 | 6 | 5.71 |
| Capital work in progress | 0 | 0 | 0 | 0 | · |
| Investments | 4 | 4 | 4 | 4 | 4.74 |
| Other assets | 117 | 157 | 174 | 193 | 257.26 |
| Receivables | · | · | · | · | 162.16 |
| Inventory | · | · | · | · | 73.43 |
| Cash | · | · | · | · | 12.34 |
| Trade payables | · | · | · | · | 86.99 |
N R Vandana Tex Industries cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | -3 | -13 | 0 | 6 | -36.98 |
| Cash from investing | 0 | -2 | 0 | 0 | 0.24 |
| Cash from financing | 3 | 17 | 0 | -8 | 47.92 |
| Net cash flow | 0 | 2 | 0 | -2 | 11.18 |
| Capital spending | · | · | · | · | 0.61 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 154 | 152 | 130 | 173 | 195 |
| Inventory days | 118 | 199 | 223 | 117 | · |
| Days payable | 205 | 236 | 220 | 192 | · |
| Cash conversion cycle | 67 | 116 | 134 | 99 | · |
| Working capital days | 54 | 64 | 71 | 55 | · |
N R Vandana Tex Industries peers and competitors
Listed SME companies in the same industryBy sales, N R Vandana Tex Industries is number 8 of the 62 listed SME companies in textiles & apparels.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Veekayem Fashion and Apparels | 101 | 10.1 | 365 | 10 | 7.7% | 1.64 |
| Vinod Texworld | 49 | 4.9 | 343 | 10 | 7.0% | 1.63 |
| Spunweb Nonwoven | 326 | 14.1 | 324 | 23.1 | 17.3% | 0.63 |
| N R Vandana Tex Industries | 164 | 15.6 | 304 | 10.5 | 7.8% | 1.40 |
| Vivaa Tradecom | 54 | 54.3 | 285 | 1 | 0.5% | 0.18 |
| Bizotic Commercial | 587 | 32.6 | 251 | 18 | 10.0% | 0.07 |
| Karnika Industries | 818 | 29.3 | 248 | 28 | 15.0% | 0.78 |
| K K Silk Mills | 23 | 4.6 | 245 | 5 | 6.0% | 0.80 |
| Unitec Fibres | - | - | 223 | 8 | 7.0% | 1.20 |
| Aayush Art And Bullion | 1,981 | 247.6 | 216 | 8 | 5.0% | 0.00 |
| Angel Fibers | 25 | 25.0 | 212 | 1 | 3.7% | 1.17 |
| Median of the 10 others | 101 | 25 | 250 | 9 | 7.0% | 0.79 |
N R Vandana Tex Industries shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders is about the same.
N R Vandana Tex Industries shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Jun 25 | Sep 25 | Mar 26 | Jun 26 | Sep 26 | |
|---|---|---|---|---|---|
| Promoters | 73.39% | 73.39% | 73.39% | 73.39% | 73.39% |
| Foreign investors (FIIs) | 3.01% | - | - | - | - |
| Indian institutions (DIIs) | 10.39% | 2.90% | 2.20% | 0.88% | 0.27% |
| HNIs (over ₹2 lakh each) | 0.00% | 11.23% | 11.94% | 9.07% | 10.24% |
| Small holders (up to ₹2 lakh) | 10.88% | 8.14% | 8.28% | 9.86% | 9.65% |
| Companies and others | 2.33% | 4.34% | 4.19% | 6.80% | 6.45% |
| Number of shareholders | 480 | 474 | 442 | 508 | 505 |
The named holders are at 30 Sept 2026, beside 30 June 2026, each under the group the pattern files them in.
N R Vandana Tex Industries study: the business from its own documents
Read from 6 of the company's own documentsN R Vandana Tex Industries so far
From the company's own record
- 4 June 2025Listed on NSE Emerge at ₹45
- 30 Sept 2026Promoters at 73.39%
- 29 May 2026Highest close since listing, ₹79.95
N R Vandana Tex Industries key facts from the filings
Each figure with the document it comes from
- Sarees in sales
- 98.32%
- Share of FY25 revenue from cotton sarees; salwar suits and bedsheets made up the rest.Offer document, p.33 and p.135
- Wholesalers
- 1,397
- Wholesale customers in FY25, up from 893 in FY24 and 886 in FY23; they gave 79.17% of FY25 sales.Offer document, p.134 and p.138
- Top ten customers
- 14.51%
- Share of FY25 sales from the ten largest wholesalers; the largest alone was 2.09%.Offer document, p.138
- Eastern region
- 88.10%
- Share of FY25 revenue from eastern India, with West Bengal alone at 77.18%.Offer document, p.134 and p.137
- Online channel
- 20.83%
- Share of FY25 revenue from trading apps, ₹56.4 cr, of which Solv handled 92.14%.Offer document, p.134 and p.138
Show 5 more facts
- Own capacity
- 3,000 sarees a day
- Plus 1,000 bedsheets a day at Serampore; the saree line ran at 85% of capacity in FY24 and FY25.Offer document, p.141 and p.143
- Job workers
- 229
- Outside units used in FY25, up from 159 in FY24; job work cost 18.74% of FY25 revenue.Offer document, p.140
- Customer credit
- 4 to 5 months
- Credit period the company gives its customers, which it says ties up working capital.Offer document, p.98
- FY26 results
- ₹304.2 cr
- Revenue for FY26 against ₹270.8 cr in FY25, with profit after tax of ₹10.5 cr against ₹8.2 cr, as stated by Crisil from NSE filings.Crisil rating rationale, June 2026, p.1
- Crisil rating
- BB/Stable, not cooperating
- On ₹31 cr of cash credit since April 2025, continued in June 2026, because the company did not provide the information Crisil sought.Crisil rating rationale, April 2025, p.1; Crisil rating rationale, June 2026, p.1
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
N R Vandana Tex earns its money by turning bought cotton cloth into printed and embroidered sarees and selling them on long credit to many small wholesalers, and it keeps only a thin slice of each sale as profit.
Its weak spots are that it depends on one product sold mostly in one region, and that the long credit it gives customers keeps it borrowing heavily.
WatchCan it set its own prices?Sarees are a crowded fashion market and the company lists competition and price pressure among its main risks. Its margins are thin.
AverageHow strong is it against rivals?The Vandana name has a long history and is well known in Kolkata. Outside the east the company is small.
AverageWho are its customers?Sales are spread over more than a thousand wholesalers, so no single customer matters much. Most of them are in West Bengal and they take months to pay.
WatchDoes it need a lot of money?The factory needs little new spending, but money gets stuck in stock and in unpaid bills. The bank lines have been used almost to the full.
AverageCan it keep finding new work?The company keeps adding wholesalers and outside job workers to grow. Its own saree line is already busy.
AverageDo good and bad years swing a lot?Sales have risen every year, with a peak in the festive season. Profit is a small share of sales, so a weak season would hurt it quickly.
Who runs N R Vandana Tex Industries?
Promoters, directors and officers; tap a name for the background
PLPrabhu LohiaPromoter and Managing Director
Associated with the company since 31 March 2009 and Managing Director for three years from 20 September 2024. Bachelor of Commerce from the University of Calcutta, with 24 years of experience in finance, accounts and textiles; responsible for strategic plans and client relationships. Held 42,28,942 shares, 24.74% of the company before the IPO.
Offer document, p.170, p.171, p.172 and p.174GLGyanesh LohiaPromoter, Whole Time Director and Chief Financial Officer
Associated with the company since 31 March 2009 and Whole Time Director and CFO for three years from 20 September 2024. Bachelor of Commerce from the University of Calcutta, with 23 years of experience in product and financial management and supplier relations in textiles; responsible for operations, planning and finance. Held 16,83,350 shares, 9.85% before the IPO.
Offer document, p.170, p.171, p.172 and p.174NPNarain Prasad LohiaPromoter and Non Executive Director
Director since the company was formed in 1992. Bachelor of Commerce from the University of Calcutta, with more than five decades of experience in business strategy and production in textiles. The offer document states that Narain Prasad Lohia and Gyanesh Lohia are father and son. Held 29,78,940 shares, 17.42% before the IPO.
Offer document, p.170, p.171, p.172 and p.174VNVandana NahataIndependent Director
Independent Director since 24 August 2024 and chair of the audit committee. A chartered accountant with seven years of experience in taxation and audits; runs the firm CA Vandana Nahata and Co. since 2013.
Offer document, p.171 and p.176BSBhargav Samirbhai VyasIndependent Director
Independent Director since 24 August 2024. A company secretary with law and commerce degrees from the University of Mumbai and seven years of corporate experience; earlier with Porto Novo Maritime, Raymond and Vishal Fabrics, and founder of B.S. Vyas and Associates.
Offer document, p.170 and p.171N R Vandana Tex Industries latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹174 cr (+21%), net profit ₹4.7 cr (+19%) on H2 FY25.
- Shareholding, 30 Sept 2026: promoters unchanged at 73.39%.
N R Vandana Tex Industries announcements
11 on record, latest first; each opens the filing on the exchange
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 21, 2026PDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 21, 2026PDF ↗
- Copy of Newspaper PublicationCopy of Newspaper PublicationPDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 21, 2026PDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- Reply to Clarification- Financial resultsThe Exchange had sought clarification from N R Vandana Tex Industries Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (ListiPDF ↗
- Outcome of Board Meeting, the financial results for the period ended March 31, 2026PDF ↗
- Outcome of Board Meeting, the financial results for the period ended March 31, 2026PDF ↗
- Clarification - Financial ResultsThe Exchange has sought clarification from N R Vandana Tex Industries Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (ListiPDF ↗
- Outcome of Board Meeting, the financial results for the period ended March 31, 2026PDF ↗
N R Vandana Tex Industries annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
N R Vandana Tex Industries share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on N R Vandana Tex Industries' data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (2,32,94,809 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about N R Vandana Tex Industries
What does N R Vandana Tex Industries do?
N R Vandana Tex Industries designs and makes cotton sarees in West Bengal under the Vandana brand and sells them to saree wholesalers, mostly in eastern India. Its shares trade on NSE Emerge.
What is the share price of N R Vandana Tex Industries?
₹70.3 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of N R Vandana Tex Industries?
₹164 cr at the close on 6 Nov 2026, on 2,32,94,809 shares.
What is the P/E of N R Vandana Tex Industries?
15.6 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are N R Vandana Tex Industries' revenue and profit?
Revenue ₹304 cr and profit after tax ₹11 cr in FY26.
Who are the promoters of N R Vandana Tex Industries?
Prabhu Lohia, Gyanesh Lohia, Narain Prasad Lohia; promoters held 73.39% at 30 Sept 2026.
What was the IPO price of N R Vandana Tex Industries?
₹45 a share; it listed on 4 June 2025.
What is N R Vandana Tex Industries' website?
www.vandanafashion.com
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Every listed SME company in Textiles & Apparels → · SME companies listed in 2025 →
Built from 3 credit rating notes, 2 annual reports, 1 offer document, 11 exchange announcements, 5 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.