Aarvee Denims

Ahmedabad, India Founded: 1988 • Age: 38 yrs Acquired
Casual apparel for men and women is manufactured and exported.
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About Aarvee Denims

Aarvee Denims is a publicly listed company based in Ahmedabad (India) founded in 1988. Casual apparel for men and women is manufactured and exported. It operates on a B2B2C and Reseller / Distribution model. The company has 228 employees. Its Indian entity Varvee Global Limited reported revenue of ₹82.57 Cr. The company has since been acquired. Aarvee Denims offers products and services including Denim Fabrics, Non-Denim Fabrics, Shirting Fabrics, and Suiting Fabrics. Its focus areas include Textiles, Apparel Fabrics and Denim Manufacturing. Its competitors include Hopscotch, Bewakoof and Styched; 3 of its 3 listed competitors have raised funding.

Company details

Aarvee Denims and Exports Ltd. is recognized as a key player in the global textile industry. The company is involved in the production of high-quality denim and non-denim fabrics, including shirting and suiting materials. Operations are conducted through a fully integrated facility in Ahmedabad, India, with an annual capacity of 35 million meters of denim and 18 million meters of non-denim fabrics. Solutions are provided to local and international apparel brands, ensuring consistency and innovation. Emphasis is placed on sustainability, with eco-friendly practices integrated into production processes. The company serves the fashion and apparel sectors, maintaining a commitment to quality and environmental responsibility while expanding its global presence.

  • Headquarters Ahmedabad, India
  • Employees 228
  • Stage Acquired
  • Sectors
    Retail
  • Phone
    •••• ••••
  • Website aarveedenims.com
  • Social LinkedIn Facebook
  • Legal Name Varvee Global Limited
Operational Areas
Retail → Fashion & Lifestyle E-Commerce
Key Metrics
  • Market Cap
    ₹273 Cr

    VGL · NSE

  • Share Price
    ₹54.83

    +3.49% today

  • Revenue
    ₹62.80 Cr

    FY 2025-26

  • EBITDA
    ₹5.37 Cr

    Margin 8.6%

  • Net Profit
    ₹12.45 Cr

    FY 2025-26

  • P/E (TTM)
    22.1x

    P/B 3.6x

  • Employee Count
    228

Products & Services of Aarvee Denims

Aarvee Denims offers a comprehensive portfolio of products and services, including Denim Fabrics, Non-Denim Fabrics, Shirting Fabrics, and Suiting Fabrics.

Denim Fabrics
Textile

Premium denim fabrics are produced for global apparel brands.

Non-Denim Fabrics
Textile

Non-denim fabrics are manufactured for diverse bottom wear needs.

Shirting Fabrics
Textile

Shirting fabrics are crafted for high-quality apparel production.

Suiting Fabrics
Textile

Suiting fabrics are designed for premium fashion and apparel.

Board of directors of Varvee Global Limited (Aarvee Denims)

Varvee Global Limited is the primary company behind Aarvee Denims. The board of Varvee Global Limited currently have 6 directors; the longest-serving is Aartiben Pravinbhai Thakkar, appointed in 2019. 27 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Aartiben Pravinbhai Thakkar
DIN 08603909
Director14 Nov 20196 yrs 11 moVarvee Global Limited
Ankit Naresh Mittal
DIN 10056094
Director01 Apr 20242 yrs 7 moVarvee Global Limited
Tarachandbhai Agrawal
DIN 00465635
Whole-time director05 Jul 20251 yr 3 moVarvee Global Limited
Jaimin Kailash Gupta
DIN 06833388
Managing Director05 Jul 20251 yr 3 moVarvee Global Limited
Ravi Jitendra Modi
DIN 10932249
Director15 Jul 20251 yr 3 moVarvee Global Limited
Mithlesh Kumar Agraval
DIN 03468643
Director21 Sep 20261 moVarvee Global Limited

People of Aarvee Denims

1 people are tracked at Aarvee Denims (1 in leadership); the tracked headcount is 228.

NameRoleGroup
Ashish V Shah
Managing Director & Director of CSR CommitteeLeadership
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  • Team structure
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IPO & Listings of Aarvee Denims

Aarvee Denims is a publicly listed company on the NSE with ticker symbol VGL in India, operating in the Process industries sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date17 Sep 1993
  • Listed onBSE: 514274
  • Listed entityVarvee Global Limited
  • Exchange sectorProcess industries
  • ISININE273D01027
  • Share price₹61.39 (+0.57% on the day) · 2026-10-14
  • Market capitalisation₹310 Cr
  • Price to earnings18.4
  • EPS (diluted, trailing year)₹-3.61
  • Volume (last session)7,738

Financials of Aarvee Denims

Exchange-reported figures of Varvee Global Limited, the listed company behind Aarvee Denims (NSE: VGL).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹62.80 Cr
-88.9% YoY
EBITDA
₹5.37 Cr
-84.2% YoY
Profit After Tax
₹12.45 Cr
+131.0% YoY
Net Worth
-
Total Assets
-
Total Debt
-

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2019-20FY 2018-19FY 2017-18
Income statement
Revenue62.80565752827
Revenue growth--24.9%-9.1%-
EBITDA5.3734.0882.2180.25
EBITDA margin+8.6%+6.0%+10.9%+9.7%
Profit before tax18.40(55.52)1.726.39
Net profit12.45(40.11)1.085.51
Net profit margin+19.8%-7.1%+0.1%+0.7%
EPS (₹)2.44(17.87)0.462.39
Balance sheet
Total assets-657714658
Net worth-231273272
Total debt-419434379
Cash & bank-11.1317.5523.09
Net working capital-320351321
Cash flow
Cash from operations-64.5850.5737.77
Cash from investing-4.89(53.35)(18.73)
Cash from financing-(70.43)2.88(18.96)
ParticularsSep 2026Jun 2026Sep 2025Mar 2020
Revenue19.618.2627.83118
Revenue growth (YoY)-29.5%---
Other income8.070.636.490.33
EBITDA2.85(6.86)13.8417.58
EBITDA margin+14.5%-83.1%+49.7%+15.0%
Depreciation0.560.631.539.62
Interest0.050.010.0014.44
Profit before tax10.31(6.87)18.80(6.15)
Tax3.51(0.31)8.59(14.02)
Net profit6.80(6.56)10.217.87
EPS (₹)1.32(1.27)1.983.36
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue62.8042.4584.73261421265565
Revenue growth+47.9%-49.9%-67.5%-38.0%+58.9%-53.1%-
EBITDA5.37(89.90)(31.20)(28.16)(10.33)(19.71)34.08
EBITDA margin+8.6%-211.8%-36.8%-10.8%-2.5%-7.4%+6.0%
Profit before tax18.4032.82(72.95)(92.41)(54.21)(87.37)(55.52)
Net profit12.45(92.08)(45.91)(66.82)(43.27)(66.77)(40.11)
Net profit margin+19.8%-216.9%-54.2%-25.6%-10.3%-25.2%-7.1%
EPS (₹)2.447.90(19.02)(27.73)(17.66)(27.36)(17.87)
Balance sheet
Total assets79.91130296459541602657
Net worth77.0135.7417.2061.40126168231
Total debt2.8894.26278397413433419
Cash & bank3.6614.892.226.8816.3119.9011.13
Net working capital(40.40)(8.52)50.04191265283320
Cash flow
Cash from operations5.0427.4711039.6512.5245.4164.59
Cash from investing28.2218245.6612.9346.718.844.89
Cash from financing(43.33)(196)(156)(62.28)(62.80)(41.88)(70.43)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue19.618.2623.3812.1427.83(0.55)7.505.94
Revenue growth (YoY)-29.5%+1601.8%+211.7%+104.4%+79.8%-104.1%--
Other income8.070.63(15.18)21.646.496.8237.9422.63
Total expenses16.7615.1229.2713.6113.990.5659.2028.54
EBITDA2.85(6.86)(5.89)(1.47)13.84(1.11)(51.70)(22.60)
EBITDA margin+14.5%-83.1%-25.2%-12.1%+49.7%+201.8%-689.3%-380.5%
Depreciation0.560.631.571.221.531.001.150.97
Interest0.050.010.000.000.001.431.212.49
Profit before tax10.31(6.87)(22.64)18.9518.803.28(16.12)(3.43)
Tax3.51(0.31)5.9513.608.59(22.19)(7.25)3.51

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 03 Nov 2026
ParticularsSep 2026Jun 2026Sep 2025Mar 2020
Revenue19.618.2627.83118
Revenue growth (YoY)-29.5%---
Other income8.070.636.490.33
EBITDA2.85(6.86)13.8417.58
EBITDA margin+14.5%-83.1%+49.7%+15.0%
Depreciation0.560.631.539.62
Interest0.050.010.0014.44
Profit before tax10.31(6.87)18.80(6.15)
Tax3.51(0.31)8.59(14.02)
Net profit6.80(6.56)10.217.87
EPS (₹)1.32(1.27)1.983.36
ParticularsFY 2025-26FY 2019-20FY 2018-19FY 2017-18
Revenue62.80565752827
Revenue growth--24.9%-9.1%-
Other income19.771.732.792.54
Total expenses57.43531669747
Employee cost0.0043.1754.3955.66
EBITDA5.3734.0882.2180.25
EBITDA margin+8.6%+6.0%+10.9%+9.7%
Depreciation5.3138.3533.9832.94
Interest1.4352.9849.3043.46
Profit before tax18.40(55.52)1.726.39
Tax5.95(13.60)0.640.77
Net profit12.45(40.11)1.085.51
Net profit margin+19.8%-7.1%+0.1%+0.7%
EPS (₹)2.44(17.87)0.462.39
ParticularsFY 2025-26FY 2019-20FY 2018-19FY 2017-18
Equity & liabilities
Share capital-23.4623.4623.46
Reserves & surplus-208250248
Shareholders' funds (net worth)-231273272
Minority interest-0.000.000.00
Secured loans-307316275
Unsecured loans-112118104
Total debt-419434379
Total liabilities-657714658
Assets
Gross block-462467421
Net block-350389363
Capital work in progress-0.000.000.00
Investments-0.000.000.00
Inventories-222223200
Sundry debtors-235288295
Cash & bank balances-11.1317.5523.09
Loans & advances-21.9227.3920.41
Total current assets-490556538
Total current liabilities-170204218
Net working capital-320351321
Total assets-657714658
ParticularsFY 2025-26FY 2019-20FY 2018-19FY 2017-18
Opening cash-2.021.921.84
Net cash from operating activities-64.5850.5737.77
Net cash from investing activities-4.89(53.35)(18.73)
Net cash from financing activities-(70.43)2.88(18.96)
Net change in cash-(0.96)0.100.08
Closing cash-11.1317.5523.09
ParticularsFY 2025-26FY 2019-20FY 2018-19FY 2017-18
Growth
Sales growth--24.9%-9.1%-
EBITDA growth--58.6%+2.4%-
PBT growth+9998.0%--73.1%+9997.0%
Net income growth--3813.9%-80.4%-
Revenue CAGR (3Y)-57.7%---
EBITDA CAGR (3Y)-59.4%---
Profitability & leverage
Net income margin+19.8%-7.4%+0.1%+0.7%
Return on capital employed--0.4%+7.4%+7.6%
Return on net worth--16.6%+0.4%+2.1%
Debt / equity-1.691.491.40
Long-term debt / equity-0.540.400.31
Interest cover2,383.33-1,240.75102.2291.86
Efficiency & per share
Fixed asset turnover-1.221.691.97
Inventory turnover-2.543.554.14
Debtors turnover-2.162.582.80
EPS (₹)2.44(17.87)0.462.39
Dividend per share (₹)0.000.000.000.00
Book value per share (₹)0.0098.46116.42115.81
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue19.618.2623.3812.1427.83(0.55)7.505.94
Revenue growth (YoY)-29.5%+1601.8%+211.7%+104.4%+79.8%-104.1%--
Other income8.070.63(15.18)21.646.496.8237.9422.63
Total expenses16.7615.1229.2713.6113.990.5659.2028.54
EBITDA2.85(6.86)(5.89)(1.47)13.84(1.11)(51.70)(22.60)
EBITDA margin+14.5%-83.1%-25.2%-12.1%+49.7%+201.8%-689.3%-380.5%
Depreciation0.560.631.571.221.531.001.150.97
Interest0.050.010.000.000.001.431.212.49
Profit before tax10.31(6.87)(22.64)18.9518.803.28(16.12)(3.43)
Tax3.51(0.31)5.9513.608.59(22.19)(7.25)3.51
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue62.8042.4584.73261421265565
Revenue growth+47.9%-49.9%-67.5%-38.0%+58.9%-53.1%-
Other income19.771406.616.9324.6911.751.73
Total expenses57.43132116289431285531
Employee cost0.005.2911.7324.0032.8119.2943.17
EBITDA5.37(89.90)(31.20)(28.16)(10.33)(19.71)34.08
EBITDA margin+8.6%-211.8%-36.8%-10.8%-2.5%-7.4%+6.0%
Depreciation5.314.3511.7125.2825.4928.4638.35
Interest1.4312.8436.6545.9043.0850.9552.98
Profit before tax18.4032.82(72.95)(92.41)(54.21)(87.37)(55.52)
Tax5.9514.27(28.35)(27.36)(12.79)(23.18)(13.60)
Net profit12.45(92.08)(45.91)(66.82)(43.27)(66.77)(40.11)
Net profit margin+19.8%-216.9%-54.2%-25.6%-10.3%-25.2%-7.1%
EPS (₹)2.447.90(19.02)(27.73)(17.66)(27.36)(17.87)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital25.7623.4623.4623.4623.4623.4623.46
Reserves & surplus51.2512.28(6.26)37.94103144208
Shareholders' funds (net worth)77.0135.7417.2061.40126168231
Secured loans0.0054.04160283304320307
Unsecured loans2.8840.22117114109113112
Total debt2.8894.26278397413433419
Total liabilities79.91130296459541602657
Assets
Gross block138204219560573398462
Net block43.1568.2372.38202231274350
Capital work in progress0.810.000.001.441.440.000.00
Investments10.400.000.000.000.000.000.00
Inventories17.748.0889.57121156154222
Sundry debtors15.957.4799.73124166208235
Cash & bank balances3.6614.892.226.8816.3119.9011.13
Loans & advances25.9335.240.977.2414.319.4121.92
Total current assets63.2865.68192259353391490
Total current liabilities10474.2014268.4787.94109170
Net working capital(40.40)(8.52)50.04191265283320
Total assets79.91130296459541602657
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash13.430.220.169.8613.431.052.01
Net cash from operating activities5.0427.4711039.6512.5245.4164.59
Net cash from investing activities28.2218245.6612.9346.718.844.89
Net cash from financing activities(43.33)(196)(156)(62.28)(62.80)(41.88)(70.43)
Net change in cash(10.07)13.210.06(9.70)(3.56)12.37(0.95)
Closing cash3.6614.892.226.8816.3119.9011.13
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+47.9%-49.9%-67.5%-38.0%+58.9%-53.1%-
EBITDA growth+106.0%-188.1%-10.8%-172.6%+47.6%-157.8%-
PBT growth-43.9%+9998.0%+21.1%-70.5%+38.0%-57.4%-
Net income growth+113.5%-100.6%+31.3%-54.4%+35.2%-66.5%-
Revenue CAGR (3Y)-37.8%-53.5%-31.6%-22.7%-17.6%-31.6%-12.6%
EBITDA CAGR (3Y)-+105.7%+16.5%----22.1%
Profitability & leverage
Net income margin+19.8%+43.7%-52.6%-24.9%-9.8%-24.2%-7.4%
Return on capital employed+14.7%-34.3%0.0%0.0%-6.0%-5.8%-0.4%
Return on net worth+14.4%-270.0%0.0%0.0%-29.4%-32.2%-16.6%
Debt / equity0.867.038.584.312.882.141.69
Long-term debt / equity0.433.053.551.721.130.800.54
Interest cover2,383.33-13.62-85.41-85.89-120.27-105.77-1,240.75
Efficiency & per share
Fixed asset turnover0.370.200.220.460.870.621.22
Inventory turnover4.860.870.811.882.711.412.54
Debtors turnover5.360.790.761.802.251.202.16
EPS (₹)2.427.90(19.02)(27.73)(17.66)(27.36)(17.87)
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)14.9515.247.3326.1753.8571.4698.46

Timeline of Aarvee Denims

2 dated milestones of Aarvee Denims across 5 years, from founding to its latest funding, stage changes and deals.

  1. Founded Aarvee Denims is founded.
  2. IPO Lists on the stock exchange (IPO).

Competitors of Aarvee Denims

Aarvee Denims has 3 listed competitors in our database, 3 of them funded. They include Hopscotch, Bewakoof and Styched.

Company NameDomainFoundedHQ LocationTotal fundingEmployeesDescription
Hopscotch
hopscotch.in2012Thane, India$71M109
Apparel and accessories for children are provided online.
Bewakoof
bewakoof.com2011Mumbai, India$39.49M161
Multi-category fashion products are sold by an internet-first brand.
Styched
styched.in2019Bengaluru, India$925,098
Multi-category fashion for men and women is offered online.
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Detailed competitors of Aarvee Denims

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Web traffic of Aarvee Denims

The website of Aarvee Denims (aarveedenims.com) receives about 1.6K visits a month.

  • Monthly visits
    1.6K

    ▲ 24.2% vs previous month

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Top companies in Fashion & Lifestyle E-Commerce

3 companies that operate in the same segment as Aarvee Denims (Fashion & Lifestyle E-Commerce) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
Lenskart
Eyewear is offered online for men, women, and kids.
2010Gurugram, Haryana, IndiaUSD 1.04 BUSD 939.4 M18,984
Myntra
Fashion and lifestyle products are offered via an online marketplace.
2007Bengaluru, Karnataka, IndiaUSD 123.71 MUSD 542.17 M1,108
GIVA
Gold and silver jewellery, lab-grown diamonds, and accessories are retailed.
2019Bengaluru, Karnataka, IndiaUSD 144.58 MUSD 32.66 M711
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Related news about Aarvee Denims

Varvee Global Appoints Jaimin Gupta As CFO
Reuters • 3 months ago
Varvee Global Receives Purchase Order Worth 120.8 Million Rupees
Reuters • 4 months ago
Varvee Global Gets 120.8 Million Rupees Order
Reuters • 4 months ago
Varvee Global Says Jignesh Parmar Resigns As CFO
Reuters • 7 months ago
Varvee Global To Consider Share Split
Reuters • 9 months ago
Varvee Global Increases Production Capacity To 1.8 Million Meters Per Month
Reuters • 10 months ago
Jaimin Gupta acquires majority stake in Gujarat-based Aarvee Denims and Exports
Indiatimes • 2 years ago
Aarvee Denims And Exports Approved Execution Of Share Purchase Agreement
Reuters • 2 years ago
Aarvee Denims And Exports Re-Appoints Ashish V. Shah As MD
Reuters • 3 years ago
Aarvee Denims And Exports Restarts Manufacturing Facility At Narol Unit
Reuters • 3 years ago
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Frequently Asked Questions about Aarvee Denims

Aarvee Denims was founded in 1988.

Aarvee Denims is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.

Aarvee Denims has 228 employees.

The primary company behind Aarvee Denims, Varvee Global Limited, reported revenue of ₹82.57 Cr for FY 2026, up 48% year on year.

Aarvee Denims and Exports Ltd. is recognized as a key player in the global textile industry. The company is involved in the production of high-quality denim and non-denim fabrics, including shirting and suiting materials. Operations are conducted through a fully integrated facility in Ahmedabad, India, with an annual capacity of 35 million meters of denim and 18 million meters of non-denim fabrics. Solutions are provided to local and international apparel brands, ensuring consistency and innovation. Emphasis is placed on sustainability, with eco-friendly practices integrated into production processes. The company serves the fashion and apparel sectors, maintaining a commitment to quality and environmental responsibility while expanding its global presence.

Aarvee Denims's top competitors include Hopscotch, Bewakoof and Styched.

Aarvee Denims offers Denim Fabrics, Non-Denim Fabrics, Shirting Fabrics, and Suiting Fabrics.

Yes, Aarvee Denims is publicly traded on NSE under the ticker symbol VGL.

Aarvee Denims operates through Varvee Global Limited.

The legal entities of Aarvee Denims currently have 7 directors, including Aartiben Pravinbhai Thakkar, Tarachandbhai Agrawal, Jaimin Kailash Gupta and others.

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