Vadilal Industries Limited

BSE: 519156 NSE: VADILALIND
Vadilal Industries Limited - food and beverages in Ahmedabad-, Gujarat, India. FY 2026 financials and compliance.
CIN L91110GJ1982PLC005169 Incorporated 28 April 1982 ROC Ahmedabad HQ Ahmedabad-, Gujarat, India
Active Listed - NSE: VADILALIND · BSE: 519156 Public Limited Company food and beverages
Data last updated
Revenue · FY 2026
₹1,503.12 Cr
▲ 21.41% YoY
EBITDA · FY 2026
₹270.51 Cr
▲ 5.85% YoY
Net profit · FY 2026
₹155.11 Cr
▲ 3.18% YoY
Authorised capital
₹15 Cr
Registered with MCA
Paid-up capital
₹7.19 Cr
Issued & subscribed
Open charges
₹525.32 Cr
Satisfied ₹542.22 Cr
Company age
44 yrs
Est. 1982
Last financials
Mar 2025
Balance sheet date

About Vadilal Industries Limited

Data last updated: 23 December 2025

Vadilal Industries Limited is a public limited company based in Ahmedabad-, Gujarat, India. It specialises in dairy products and milk processing, a part of the broader food and beverages sector. Incorporated on 28 April 1982, the company has been in operation for over 44 years.

Registered with ROC Ahmedabad under CIN L91110GJ1982PLC005169. Listed on BSE: 519156 and NSE: VADILALIND.

Capital: an authorised share capital of ₹15 Cr and a paid-up capital of ₹7.19 Cr. It is led by directors including Nagarajan Sivaramakrishnan and Devanshubhai Laxmanbhai Gandhi.

Last AGM: 19 September 2025. Financial statements filed for year ended 31 March 2025. Office: Vadilal House53 Shrimali Society Nr Navrangpura Police Station, Ahmedabad – , Gujarat, India – 380009.

As per the financials filed for FY 2025, the company reported a revenue of ₹1,255.4 Cr, a growth of 10% compared to the previous year.

Its group structure includes 2 subsidiaries.

The company is associated with 1 brand - Vadilal Group. As per MCA filings, the company has open charges of ₹525.32 Cr and satisfied charges of ₹542.22 Cr on record.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website vadilalgroup.com.

Company Details of Vadilal Industries Limited
CIN L91110GJ1982PLC005169
Registration Number 005169
Incorporation Date 28 April 1982
ROC Ahmedabad
Listing Status Listed (BSE: 519156, NSE: VADILALIND)
Company Status Active
Date of Last AGM 19 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
Key People
Nagarajan Sivaramakrishnan Director Devanshubhai Laxmanbhai Gandhi Director Shivakumar Pullaya Dega Director
Contact Details
  • Email
    *****@*****.com
  • Telephone
    +91-****-******
  • Website
    vadilalgroup.com
  • Social Media
  • Registered Address
    Vadilal House53 Shrimali Society Nr Navrangpura Police Station, Ahmedabad – , Gujarat, India – 380009
  • Industry
    Food and Beverages, Dairy Products & Milk Processing
Company report
Vadilal Industries Limited - full intelligence report
  • Historical Financials and ratios
  • Shareholding pattern and group structure
  • Charges with holder and property details
  • Litigation, compliance and MCA filings
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Financials, compliance, directors, charges, ownership and filings for Vadilal Industries Limited in one report.

10-year financials Directors & ownership Charges & compliance

Associated Brands with Vadilal Industries Limited

Vadilal Industries Limited operates one associated brand: Vadilal Group. These brands represent Vadilal Industries Limited's diversified market presence and brand portfolio.

Brand Description Website
Vadilal Group
Vadilal Group is engaged in manufacturing ice cream and food products. vadilalgroup.com

Competitors & Alternatives of Vadilal Industries Limited

Brands and companies operating in the same space as Vadilal Industries Limited include Hangyo, NOTO, Desi Farms and 6 more.

Competitor Description Location Founded
Hangyo Hangyo Ice cream products are manufactured and branded by Hangyo. Mangaluru, India, India 2002
NOTO NOTO Plant-based frozen desserts are offered via a dedicated platform. Mumbai, India, India 2019
Desi Farms Desi Farms Provider of direct-to-consumer, farm-to-table delivery of fresh dairy products, including milk, yogurt, and other preservative-free dairy products Pune, India, India 2016
Van Leeuwen Ice Cream Van Leeuwen Ice Cream Artisan ice cream is produced and supplied by Van Leeuwen. Brooklyn, United States, United States 2008
Salt & Straw Salt & Straw Brand of ice cream Portland, United States, United States 2011
Little Moons Little Moons Brand of ice creams London, United Kingdom, United Kingdom 2010
Dairy Day Dairy Day Processor & brand of ice creams Bengaluru, India, India 2002
Vinamilk Vinamilk Manufacturer and brand of dairy products Ho Chi Minh City, Vietnam, Vietnam 1976
Happy Nature Happy Nature Brand of organic milk Delhi, India, India 2018

Business Activity of Vadilal Industries Limited

Vadilal Industries Limited is engaged in the principal business activity of manufacturing, with detailed activities including food, beverages and tobacco products.

Main Activity Group Code Description of Main Activity Business Activity Code Description of Business Activity Turnover Percentage
C Manufacturing C1 Food, beverages and tobacco products *********

Auditor Details of Vadilal Industries Limited

Vadilal Industries Limited is audited by M/s Walker Chandiok & Co (ICAI peer reviewed, certificate valid till 2027-07-31) for the financial year 2026, as reported in its NSE exchange filings. The statutory auditor is responsible for expressing an independent opinion on whether the financial statements present a true and fair view in accordance with applicable accounting standards.

Name Financial year Audit opinion
M/s Walker Chandiok & Co (ICAI peer reviewed, certificate valid till 2027-07-31) FY 2026 Declaration of unmodified opinion

Board of Directors of Vadilal Industries Limited

Vadilal Industries Limited is currently managed by 12 directors, with 22 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.

Current Directors
Name Designation Appointment Date Tenure Status
Nagarajan Sivaramakrishnan
Also directs: Swaraj Engines Ltd, Maha Rashtra Apex Corporation Limited, Alt Basket Private Limited and 4 more
Director 13 May 2025 1 Years 1 Months Current
Devanshubhai Laxmanbhai Gandhi
Also directs: Vegizo Food Hub Llp, Asseteur Realty Llp, Workserve Business Consultancy Llp and 5 more
Director 29 Sep 2025 0 Years 9 Months Current
Shivakumar Pullaya Dega
Also directs: Yes Bank Limited, Id Fresh Food (India) Private Limited, Leapfrog Strategy Consulting Private Limited
Director 13 May 2025 1 Years 1 Months Current
Rajeshbhai Ramchandrabhai Gandhi
Also directs: Vegizo Food Hub Llp, Asseteur Realty Llp, Workserve Business Consultancy Llp and 5 more
Director 01 Apr 2009 17 Years 3 Months Current
Shalini Raghavan
Also directs: Vijay Tanks And Vessels Private Limited
Director 13 May 2025 1 Years 1 Months Current
Janmejay Virendrabhai Gandhi
Also directs: Vegizo Food Hub Llp, Vadilal International Private Limited, Rystic Trading Private Limited and 5 more
Director 29 Sep 2025 0 Years 9 Months Current
Showing 6 of 12 current directors. View all directors

Financials of Vadilal Industries Limited FY 2026 filings available

Vadilal Industries Limited reported revenue of ₹1,503.12 Cr (up 21.41% YoY) for FY 2026. Profit growth despite declining revenue indicates effective cost management and margin discipline.

Revenue · FY 2026
₹1,503.12 Cr ▲ 21.41%
Profit · FY 2026
₹155.11 Cr ▲ 3.18%
EBITDA · FY 2026
₹270.51 Cr ▲ 5.85%
Revenue₹ Cr · Consolidated01,0002,000FY 2020: ₹599 Cr599FY 2020FY 2021: ₹464 Cr · -22.6% YoY464-22.6%FY 2021FY 2022: ₹698 Cr · +50.4% YoY698+50.4%FY 2022FY 2023: ₹1,058 Cr · +51.6% YoY1,058+51.6%FY 2023FY 2024: ₹1,125 Cr · +6.4% YoY1,125+6.4%FY 2024FY 2025: ₹1,238 Cr · +10% YoY1,238+10%FY 2025FY 2026: ₹1,503 Cr · +21.4% YoY1,503+21.4%FY 2026
Net Profit₹ Cr · Consolidated0100200FY 2020: ₹41 Cr41.4FY 2020FY 2021: ₹5 Cr · -88.8% YoY4.6-88.8%FY 2021FY 2022: ₹45 Cr · +866% YoY44.7+866%FY 2022FY 2023: ₹96 Cr · +115.4% YoY96.3+115.4%FY 2023FY 2024: ₹146 Cr · +51.5% YoY146+51.5%FY 2024FY 2025: ₹150 Cr · +3% YoY150+3%FY 2025FY 2026: ₹155 Cr · +3.2% YoY155+3.2%FY 2026
Quarterly Revenue₹ Cr · vs same quarter last year0200400600Q1'25: ₹464 Cr · +13% YoY464+13%Q1'25Q2'25: ₹296 Cr · +2.4% YoY296+2.4%Q2'25Q3'25: ₹204 Cr · +17% YoY204+17%Q3'25Q4'25: ₹274 Cr · +9.2% YoY274+9.2%Q4'25Q1'26: ₹506 Cr · +9% YoY506+9%Q1'26Q2'26: ₹341 Cr · +15.5% YoY341+15.5%Q2'26Q3'26: ₹238 Cr · +16.8% YoY238+16.8%Q3'26Q4'26: ₹416 Cr · +51.5% YoY416+51.5%Q4'26
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020
Revenue from Operations ₹1,503.12 Cr ₹1,238.08 Cr ₹1,125.3 Cr ₹1,057.86 Cr ₹697.72 Cr ₹463.79 Cr ₹599.27 Cr
Other Income ₹21.72 Cr ₹17.32 Cr ₹12.5 Cr ₹13.77 Cr ₹8.31 Cr ₹16.53 Cr ₹9.62 Cr
Total Income ₹1,524.84 Cr ₹1,255.4 Cr ₹1,137.8 Cr ₹1,071.63 Cr ₹706.03 Cr ₹480.33 Cr ₹608.89 Cr
Cost of Materials Consumed ₹648.55 Cr ₹589.03 Cr ₹498.14 Cr ₹529.06 Cr ₹334.07 Cr ₹214.08 Cr ₹290.34 Cr
Purchases of Stock-in-Trade ₹147.88 Cr ₹81.42 Cr ₹62.91 Cr ₹48.94 Cr ₹37.04 Cr ₹30.39 Cr ₹27.55 Cr
Changes in Inventories -₹46.08 Cr -₹65.42 Cr ₹12.11 Cr -₹17.49 Cr -₹15.43 Cr ₹17.72 Lakh -₹2.25 Cr
Employee Benefit Expense ₹168.56 Cr ₹134.47 Cr ₹111.52 Cr ₹94.04 Cr ₹68.82 Cr ₹54.72 Cr ₹62.41 Cr
Finance Costs ₹16.38 Cr ₹13.68 Cr ₹17.9 Cr ₹15.85 Cr ₹19.38 Cr ₹21.44 Cr ₹16.72 Cr
Depreciation & Amortisation ₹48.82 Cr ₹42.2 Cr ₹34.91 Cr ₹29.88 Cr ₹23.97 Cr ₹22.85 Cr ₹23.69 Cr
Other Expenses ₹335.42 Cr ₹260.33 Cr ₹220.38 Cr ₹240.79 Cr ₹174.34 Cr ₹128.99 Cr ₹142.5 Cr
Total Expenses ₹1,319.53 Cr ₹1,055.71 Cr ₹957.87 Cr ₹941.07 Cr ₹642.2 Cr ₹472.64 Cr ₹560.95 Cr
Profit Before Exceptional Items & Tax ₹205.31 Cr ₹199.69 Cr ₹179.93 Cr ₹130.56 Cr ₹63.83 Cr ₹7.68 Cr ₹47.94 Cr
Exceptional Items ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Profit Before Tax ₹205.31 Cr ₹199.69 Cr ₹179.93 Cr ₹130.56 Cr ₹63.83 Cr ₹7.68 Cr ₹47.94 Cr
Total Tax Expense ₹50.2 Cr ₹49.36 Cr ₹34.01 Cr ₹34.26 Cr ₹19.13 Cr ₹3.06 Cr ₹6.56 Cr
Net Profit ₹155.11 Cr ₹150.33 Cr ₹145.92 Cr ₹96.3 Cr ₹44.7 Cr ₹4.63 Cr ₹41.38 Cr
  attributable to Owners ₹170.1 Cr ₹154.07 Cr - ₹96.3 Cr ₹44.7 Cr ₹4.63 Cr -₹47,000
  attributable to NCI ₹0 ₹0 - -₹7,000 -₹7,000 -₹49,000 ₹41.38 Cr
Other Comprehensive Income ₹14.99 Cr ₹3.74 Cr ₹18 Lakh ₹4.53 Cr ₹1.57 Cr -₹60.9 Lakh -₹60.6 Lakh
Total Comprehensive Income ₹170.1 Cr ₹154.07 Cr ₹146.1 Cr ₹100.83 Cr ₹46.27 Cr ₹4.02 Cr ₹40.77 Cr
EBITDA (computed) ₹270.51 Cr ₹255.57 Cr ₹232.74 Cr ₹176.3 Cr ₹107.19 Cr ₹51.97 Cr ₹88.35 Cr
Basic EPS ₹215.78 ₹209.15 ₹203.05 ₹133.97 ₹62.19 ₹6.44 ₹57.57
Diluted EPS ₹215.78 ₹209.15 ₹203.05 ₹133.97 ₹62.19 ₹6.44 ₹57.57
Metrics FY 2026 FY 2025 FY 2024 FY 2023
Total Assets ₹1,273.33 Cr ₹1,096.06 Cr ₹916.88 Cr ₹837.9 Cr
Non-current Assets ₹638.72 Cr ₹565.64 Cr ₹483.65 Cr ₹440.46 Cr
Current Assets ₹634.61 Cr ₹530.42 Cr ₹433.23 Cr ₹397.44 Cr
Property, Plant & Equipment ₹390.62 Cr ₹341.68 Cr ₹334.2 Cr ₹309.29 Cr
Inventories ₹336.05 Cr ₹310.84 Cr ₹229.16 Cr ₹255.7 Cr
Trade Receivables ₹177.46 Cr ₹123.04 Cr ₹96.78 Cr ₹77.45 Cr
Cash & Equivalents ₹37.29 Cr ₹36.22 Cr ₹43.92 Cr ₹31.77 Cr
Equity (Net Worth) ₹850.63 Cr ₹695.62 Cr ₹542.63 Cr ₹397.58 Cr
Equity Share Capital ₹7.19 Cr ₹7.19 Cr ₹7.19 Cr ₹7.19 Cr
Borrowings (Non-current) ₹53.4 Cr ₹46.15 Cr ₹37.63 Cr ₹59.68 Cr
Borrowings (Current) ₹37.95 Cr ₹36.22 Cr ₹80.22 Cr ₹144.84 Cr
Total Debt (computed) ₹91.35 Cr ₹82.37 Cr ₹117.85 Cr ₹204.52 Cr
Current Liabilities ₹211.46 Cr ₹207.6 Cr ₹214.14 Cr ₹275.4 Cr
Total Liabilities ₹422.7 Cr ₹400.44 Cr ₹374.25 Cr ₹440.32 Cr
The balance sheet became part of the exchange results-filing format in FY2023 - earlier years were not filed and are hidden.
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022
Operating Cash Flow ₹143.07 Cr ₹130.02 Cr ₹192.01 Cr ₹39.48 Cr ₹32.03 Cr
Investing Cash Flow -₹107.55 Cr -₹77.04 Cr -₹65.99 Cr -₹61.88 Cr -₹19.93 Cr
Financing Cash Flow -₹37.68 Cr -₹60.68 Cr -₹113.87 Cr ₹9.02 Cr ₹7.84 Cr
Capital Expenditure -₹77 Lakh -₹2.36 Cr -₹50 Lakh ₹58.39 Cr ₹21.39 Cr
Free Cash Flow (computed) ₹142.3 Cr ₹127.66 Cr ₹191.51 Cr -₹18.92 Cr ₹10.65 Cr
Dividends Paid ₹15.09 Cr ₹1.08 Cr ₹1.08 Cr ₹89.85 Lakh ₹0
Net Change in Cash -₹2.16 Cr -₹7.7 Cr ₹12.15 Cr -₹13.39 Cr ₹19.94 Cr
The cash-flow statement became part of the exchange results-filing format in FY2022 - earlier years were not filed and are hidden.
Metrics Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY26 Q4 FY25 Q3 FY25 Q2 FY25 Q1 FY25 Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY24
Revenue from Operations ₹415.83 Cr ₹238.02 Cr ₹341.3 Cr ₹505.91 Cr ₹274.47 Cr ₹203.85 Cr ₹295.51 Cr ₹464.25 Cr ₹251.45 Cr ₹174.26 Cr ₹288.71 Cr ₹410.91 Cr
Other Income ₹6.91 Cr ₹5.03 Cr ₹7.32 Cr ₹4.52 Cr ₹3.27 Cr ₹4.49 Cr ₹5.41 Cr ₹6.95 Cr ₹2.69 Cr ₹3.84 Cr ₹4.37 Cr ₹1.65 Cr
Total Income ₹422.74 Cr ₹243.05 Cr ₹348.62 Cr ₹510.43 Cr ₹277.74 Cr ₹208.34 Cr ₹300.92 Cr ₹471.2 Cr ₹254.14 Cr ₹178.1 Cr ₹293.08 Cr ₹412.56 Cr
Cost of Materials Consumed ₹192.82 Cr ₹78.75 Cr ₹143.32 Cr ₹238.2 Cr ₹161.99 Cr ₹77.57 Cr ₹123.65 Cr ₹225.82 Cr ₹118.35 Cr ₹63.87 Cr ₹124.41 Cr ₹191.5 Cr
Purchases of Stock-in-Trade ₹30.26 Cr ₹48.09 Cr ₹43.51 Cr ₹26.02 Cr ₹20.13 Cr ₹16.88 Cr ₹25.14 Cr ₹19.27 Cr ₹13.55 Cr ₹19.31 Cr ₹18.89 Cr ₹11.17 Cr
Changes in Inventories -₹30.84 Cr -₹18.94 Cr -₹12.8 Cr ₹11.96 Cr -₹50.89 Cr ₹1.62 Cr -₹8.19 Cr -₹7.96 Cr -₹11.8 Cr ₹7.86 Cr ₹80 Lakh ₹15.25 Cr
Employee Benefit Expense ₹45.69 Cr ₹49.73 Cr ₹36.18 Cr ₹36.96 Cr ₹36.57 Cr ₹30.06 Cr ₹31.33 Cr ₹36.51 Cr ₹32.35 Cr ₹22.53 Cr ₹27.05 Cr ₹29.59 Cr
Finance Costs ₹4.72 Cr ₹3.97 Cr ₹3.86 Cr ₹3.83 Cr ₹3.9 Cr ₹3.08 Cr ₹3.15 Cr ₹3.55 Cr ₹4.25 Cr ₹3.77 Cr ₹4.32 Cr ₹5.56 Cr
Depreciation & Amortisation ₹13.78 Cr ₹11.76 Cr ₹11.56 Cr ₹11.72 Cr ₹10.84 Cr ₹9.54 Cr ₹10.93 Cr ₹10.89 Cr ₹9.23 Cr ₹8.38 Cr ₹8.78 Cr ₹8.52 Cr
Other Expenses ₹92.84 Cr ₹69.75 Cr ₹79.82 Cr ₹93.01 Cr ₹67.9 Cr ₹52.18 Cr ₹63.03 Cr ₹80.02 Cr ₹53.23 Cr ₹49.4 Cr ₹58.61 Cr ₹59.19 Cr
Total Expenses ₹349.27 Cr ₹243.11 Cr ₹305.45 Cr ₹421.7 Cr ₹250.44 Cr ₹190.93 Cr ₹249.04 Cr ₹368.1 Cr ₹219.16 Cr ₹175.12 Cr ₹242.86 Cr ₹320.78 Cr
Profit Before Exceptional Items & Tax ₹73.47 Cr -₹6 Lakh ₹43.17 Cr ₹88.73 Cr ₹27.3 Cr ₹17.41 Cr ₹51.88 Cr ₹103.1 Cr ₹34.98 Cr ₹2.98 Cr ₹50.22 Cr ₹91.78 Cr
Exceptional Items ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Profit Before Tax ₹73.47 Cr -₹6 Lakh ₹43.17 Cr ₹88.73 Cr ₹27.3 Cr ₹17.41 Cr ₹51.88 Cr ₹103.1 Cr ₹34.98 Cr ₹2.98 Cr ₹50.22 Cr ₹91.78 Cr
Total Tax Expense ₹18.61 Cr ₹9 Lakh ₹9.75 Cr ₹21.75 Cr ₹5.3 Cr ₹5.48 Cr ₹12.9 Cr ₹25.68 Cr ₹7.34 Cr -₹6.26 Cr ₹12.17 Cr ₹20.76 Cr
Net Profit ₹54.86 Cr -₹15 Lakh ₹33.42 Cr ₹66.98 Cr ₹22 Cr ₹11.93 Cr ₹38.98 Cr ₹77.42 Cr ₹27.64 Cr ₹9.24 Cr ₹38.05 Cr ₹71.01 Cr
  attributable to Owners ₹62.76 Cr ₹2.49 Cr ₹38.05 Cr - ₹24.54 Cr ₹11.93 Cr ₹39.27 Cr ₹77.42 Cr - ₹9.24 Cr ₹39.42 Cr ₹71.01 Cr
  attributable to NCI ₹0 - ₹0 - ₹0 - - ₹0 - ₹0 ₹0 ₹25,000
Other Comprehensive Income ₹7.9 Cr ₹2.64 Cr ₹4.63 Cr -₹18 Lakh -₹46 Lakh ₹4.02 Cr ₹29 Lakh -₹11 Lakh -₹10 Lakh -₹43 Lakh ₹1.37 Cr -₹66.93 Lakh
Total Comprehensive Income ₹62.76 Cr ₹2.49 Cr ₹38.05 Cr ₹66.8 Cr ₹21.54 Cr ₹15.95 Cr ₹39.27 Cr ₹77.31 Cr ₹27.54 Cr ₹8.81 Cr ₹39.42 Cr ₹70.35 Cr
EBITDA (computed) ₹91.97 Cr ₹15.67 Cr ₹58.59 Cr ₹104.28 Cr ₹42.04 Cr ₹30.03 Cr ₹65.96 Cr ₹117.54 Cr ₹48.46 Cr ₹15.13 Cr ₹63.32 Cr ₹105.85 Cr
Basic EPS ₹76.32 ₹-0.22 ₹46.50 ₹93.19 ₹30.61 ₹16.60 ₹54.23 ₹107.71 ₹38.45 ₹12.86 ₹52.94 ₹98.79
Diluted EPS ₹76.32 ₹-0.22 ₹46.50 ₹93.19 ₹30.61 ₹16.60 ₹54.23 ₹107.71 ₹38.45 ₹12.86 ₹52.94 ₹98.79
Latest 12 quarters shown of 25 on record.
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020
Revenue from Operations ₹1,109.54 Cr ₹1,011.33 Cr ₹912.57 Cr ₹896.71 Cr ₹544.12 Cr ₹356.54 Cr ₹516.63 Cr
Other Income ₹24.62 Cr ₹17.26 Cr ₹13.21 Cr ₹12.24 Cr ₹8.79 Cr ₹12.02 Cr ₹8.42 Cr
Total Income ₹1,134.16 Cr ₹1,028.59 Cr ₹925.78 Cr ₹908.95 Cr ₹552.91 Cr ₹368.56 Cr ₹525.05 Cr
Cost of Materials Consumed ₹644.04 Cr ₹584.44 Cr ₹495.4 Cr ₹526.14 Cr ₹331.68 Cr ₹213.53 Cr ₹290.34 Cr
Purchases of Stock-in-Trade ₹18.16 Cr ₹12.53 Cr ₹11.95 Cr ₹7.14 Cr ₹5.12 Cr ₹4.15 Cr ₹8.61 Cr
Changes in Inventories -₹5.49 Cr -₹30.23 Cr ₹18.14 Cr -₹6.61 Cr -₹9.1 Cr ₹5.52 Cr -₹2.02 Cr
Employee Benefit Expense ₹80.37 Cr ₹74.41 Cr ₹63.62 Cr ₹58.73 Cr ₹41.3 Cr ₹34.27 Cr ₹43.86 Cr
Finance Costs ₹8.67 Cr ₹8.3 Cr ₹13.97 Cr ₹12.88 Cr ₹17.88 Cr ₹20.09 Cr ₹14.73 Cr
Depreciation & Amortisation ₹28.9 Cr ₹25.59 Cr ₹23.15 Cr ₹20.23 Cr ₹19.24 Cr ₹18.29 Cr ₹18.88 Cr
Other Expenses ₹227.38 Cr ₹200.56 Cr ₹170.98 Cr ₹193.96 Cr ₹132.63 Cr ₹104.43 Cr ₹116.27 Cr
Total Expenses ₹1,002.03 Cr ₹875.6 Cr ₹797.21 Cr ₹812.47 Cr ₹538.76 Cr ₹400.27 Cr ₹490.66 Cr
Profit Before Exceptional Items & Tax ₹132.13 Cr ₹152.99 Cr ₹128.57 Cr ₹96.49 Cr ₹14.15 Cr -₹31.71 Cr ₹34.39 Cr
Exceptional Items ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Profit Before Tax ₹132.13 Cr ₹152.99 Cr ₹128.57 Cr ₹96.49 Cr ₹14.15 Cr -₹31.71 Cr ₹34.39 Cr
Total Tax Expense ₹34.12 Cr ₹39.11 Cr ₹32.73 Cr ₹24.55 Cr ₹3.81 Cr -₹7.61 Cr ₹2.24 Cr
Net Profit ₹98.01 Cr ₹113.88 Cr ₹95.84 Cr ₹71.94 Cr ₹10.34 Cr -₹24.1 Cr ₹32.15 Cr
Other Comprehensive Income ₹1.09 Cr -₹44 Lakh -₹1.37 Cr -₹1.27 Cr -₹69.31 Lakh ₹2.45 Lakh -₹38.12 Lakh
Total Comprehensive Income ₹99.1 Cr ₹113.44 Cr ₹94.47 Cr ₹70.67 Cr ₹9.65 Cr -₹24.07 Cr ₹31.77 Cr
EBITDA (computed) ₹169.7 Cr ₹186.88 Cr ₹165.69 Cr ₹129.6 Cr ₹51.27 Cr ₹6.66 Cr ₹67.99 Cr
Basic EPS ₹136.36 ₹158.43 ₹0.00 ₹100.09 ₹14.39 ₹-33.53 ₹44.73
Diluted EPS ₹136.36 ₹158.43 ₹0.00 ₹100.09 ₹14.39 ₹-33.53 ₹44.73
Metrics FY 2026 FY 2025 FY 2024 FY 2023
Total Assets ₹824.44 Cr ₹757.46 Cr ₹645.24 Cr ₹627.35 Cr
Non-current Assets ₹415.15 Cr ₹378.24 Cr ₹363.8 Cr ₹335.99 Cr
Current Assets ₹409.29 Cr ₹379.22 Cr ₹281.44 Cr ₹291.36 Cr
Property, Plant & Equipment ₹305.23 Cr ₹318.65 Cr ₹311.51 Cr ₹287.12 Cr
Inventories ₹217.55 Cr ₹235.27 Cr ₹189.93 Cr ₹222.54 Cr
Trade Receivables ₹122.33 Cr ₹112.44 Cr ₹57.7 Cr ₹37.52 Cr
Cash & Equivalents ₹9.19 Cr ₹1.83 Cr ₹61 Lakh ₹5.72 Cr
Equity (Net Worth) ₹578.97 Cr ₹494.96 Cr ₹382.6 Cr ₹289.21 Cr
Equity Share Capital ₹7.19 Cr ₹7.19 Cr ₹7.19 Cr ₹7.19 Cr
Borrowings (Non-current) ₹46.28 Cr ₹42.91 Cr ₹33.1 Cr ₹53.82 Cr
Borrowings (Current) ₹15.91 Cr ₹34.76 Cr ₹78.88 Cr ₹143.26 Cr
Total Debt (computed) ₹62.19 Cr ₹77.67 Cr ₹111.98 Cr ₹197.08 Cr
Current Liabilities ₹149.96 Cr ₹177.89 Cr ₹186.53 Cr ₹254.33 Cr
Total Liabilities ₹245.47 Cr ₹262.5 Cr ₹262.64 Cr ₹338.14 Cr
The balance sheet became part of the exchange results-filing format in FY2023 - earlier years were not filed and are hidden.
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022
Operating Cash Flow ₹128.35 Cr ₹77.7 Cr ₹137.85 Cr ₹33.14 Cr -₹4.91 Cr
Investing Cash Flow -₹78.89 Cr -₹29.41 Cr -₹40.77 Cr -₹42 Cr -₹10.07 Cr
Financing Cash Flow -₹42.1 Cr -₹47.07 Cr -₹102.19 Cr ₹11.71 Cr ₹9.38 Cr
Capital Expenditure ₹0 ₹0 ₹0 ₹0 ₹0
Free Cash Flow (computed) ₹128.35 Cr ₹77.7 Cr ₹137.85 Cr ₹33.14 Cr -₹4.91 Cr
Dividends Paid ₹15.09 Cr ₹1.08 Cr ₹1.08 Cr ₹89.85 Lakh ₹0
Net Change in Cash ₹7.36 Cr ₹1.22 Cr -₹5.11 Cr ₹2.85 Cr -₹5.6 Cr
The cash-flow statement became part of the exchange results-filing format in FY2022 - earlier years were not filed and are hidden.
Metrics Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY26 Q4 FY25 Q3 FY25 Q2 FY25 Q1 FY25 Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY24
Revenue from Operations ₹295.49 Cr ₹140.38 Cr ₹246.85 Cr ₹424.76 Cr ₹231.64 Cr ₹145.18 Cr ₹232.74 Cr ₹401.77 Cr ₹199.43 Cr ₹129.11 Cr ₹228.72 Cr ₹355.32 Cr
Other Income ₹8.54 Cr ₹5.98 Cr ₹7.77 Cr ₹4.39 Cr ₹3.77 Cr ₹5.04 Cr ₹4.33 Cr ₹4.12 Cr ₹3 Cr ₹3.81 Cr ₹4.33 Cr ₹2.07 Cr
Total Income ₹304.03 Cr ₹146.36 Cr ₹254.62 Cr ₹429.15 Cr ₹235.41 Cr ₹150.22 Cr ₹237.07 Cr ₹405.89 Cr ₹202.43 Cr ₹132.92 Cr ₹233.05 Cr ₹357.38 Cr
Cost of Materials Consumed ₹192.07 Cr ₹78.68 Cr ₹140.02 Cr ₹237.81 Cr ₹160 Cr ₹77.18 Cr ₹122.18 Cr ₹225.08 Cr ₹117.87 Cr ₹63.18 Cr ₹123.82 Cr ₹190.52 Cr
Purchases of Stock-in-Trade ₹3.77 Cr ₹4.82 Cr ₹5.04 Cr ₹4.53 Cr ₹3.91 Cr ₹2.32 Cr ₹3.45 Cr ₹2.85 Cr ₹2.29 Cr ₹3.12 Cr ₹3.87 Cr ₹2.66 Cr
Changes in Inventories -₹41.31 Cr ₹2.69 Cr ₹12.51 Cr ₹16.08 Cr -₹35 Cr -₹1.43 Cr ₹5.54 Cr ₹66 Lakh -₹14.96 Cr ₹17.37 Cr ₹4.67 Cr ₹11.06 Cr
Employee Benefit Expense ₹17.94 Cr ₹27.24 Cr ₹16.07 Cr ₹19.12 Cr ₹18.09 Cr ₹16.15 Cr ₹17.11 Cr ₹23.06 Cr ₹16.65 Cr ₹11.67 Cr ₹15.33 Cr ₹19.96 Cr
Finance Costs ₹2.22 Cr ₹2.26 Cr ₹2.1 Cr ₹2.09 Cr ₹2.21 Cr ₹1.74 Cr ₹1.88 Cr ₹2.47 Cr ₹3.17 Cr ₹2.83 Cr ₹3.33 Cr ₹4.64 Cr
Depreciation & Amortisation ₹7.8 Cr ₹6.78 Cr ₹7 Cr ₹7.32 Cr ₹6.55 Cr ₹6.08 Cr ₹6.31 Cr ₹6.65 Cr ₹6.05 Cr ₹5.53 Cr ₹5.86 Cr ₹5.7 Cr
Other Expenses ₹60.03 Cr ₹42.75 Cr ₹53.93 Cr ₹70.67 Cr ₹53.92 Cr ₹38.03 Cr ₹47.87 Cr ₹60.74 Cr ₹41.81 Cr ₹35.19 Cr ₹45.92 Cr ₹48.06 Cr
Total Expenses ₹242.52 Cr ₹165.22 Cr ₹236.67 Cr ₹357.62 Cr ₹209.68 Cr ₹140.07 Cr ₹204.34 Cr ₹321.51 Cr ₹172.88 Cr ₹138.89 Cr ₹202.8 Cr ₹282.6 Cr
Profit Before Exceptional Items & Tax ₹61.51 Cr -₹18.86 Cr ₹17.95 Cr ₹71.53 Cr ₹25.73 Cr ₹10.15 Cr ₹32.73 Cr ₹84.38 Cr ₹29.55 Cr -₹5.97 Cr ₹30.25 Cr ₹74.78 Cr
Exceptional Items ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Profit Before Tax ₹61.51 Cr -₹18.86 Cr ₹17.95 Cr ₹71.53 Cr ₹25.73 Cr ₹10.15 Cr ₹32.73 Cr ₹84.38 Cr ₹29.55 Cr -₹5.97 Cr ₹30.25 Cr ₹74.78 Cr
Total Tax Expense ₹15.83 Cr -₹4.58 Cr ₹4.7 Cr ₹18.17 Cr ₹6.67 Cr ₹2.68 Cr ₹8.44 Cr ₹21.32 Cr ₹7.76 Cr -₹1.5 Cr ₹7.64 Cr ₹18.83 Cr
Net Profit ₹45.68 Cr -₹14.28 Cr ₹13.25 Cr ₹53.36 Cr ₹19.06 Cr ₹7.47 Cr ₹24.29 Cr ₹63.06 Cr ₹21.79 Cr -₹4.47 Cr ₹22.61 Cr ₹55.96 Cr
Other Comprehensive Income ₹10 Lakh ₹1.16 Cr -₹7 Lakh -₹10 Lakh -₹35 Lakh ₹7.49 Cr -₹12 Lakh ₹1 Lakh -₹64 Lakh -₹15 Lakh ₹32 Lakh -₹91.07 Lakh
Total Comprehensive Income ₹45.78 Cr -₹13.12 Cr ₹13.18 Cr ₹53.26 Cr ₹18.71 Cr ₹14.96 Cr ₹24.17 Cr ₹63.07 Cr ₹21.15 Cr -₹4.62 Cr ₹22.93 Cr ₹55.05 Cr
EBITDA (computed) ₹71.53 Cr -₹9.82 Cr ₹27.05 Cr ₹80.94 Cr ₹34.49 Cr ₹17.97 Cr ₹40.92 Cr ₹93.5 Cr ₹38.77 Cr ₹2.39 Cr ₹39.44 Cr ₹85.12 Cr
Basic EPS ₹63.55 ₹-19.87 ₹18.43 ₹74.24 ₹26.52 ₹10.39 ₹33.79 ₹87.73 ₹0.00 ₹-6.22 ₹31.46 ₹77.85
Diluted EPS ₹63.55 ₹-19.87 ₹18.43 ₹74.24 ₹26.52 ₹10.39 ₹33.79 ₹87.73 ₹0.00 ₹-6.22 ₹31.46 ₹77.85
Latest 12 quarters shown of 25 on record.
Want more history and ratios?
You're viewing the latest exchange-filed financials for Vadilal Industries Limited. The full report adds 10+ years of line-item history, 20+ ratios, peer benchmarks and a downloadable PDF.
10+ years of history 20+ ratios & benchmarks Downloadable PDF

Shareholding Pattern of Vadilal Industries Limited

As per the shareholding pattern filed with NSE for the quarter ended Mar 2026, promoters hold 64.73%, foreign institutional investors hold 0.58%, domestic institutional investors hold 0.42%, retail and other public shareholders hold 34.27% of Vadilal Industries Limited. The company had 22,133 shareholders on record.

Promoters: 64.73%DII (Domestic Institutional): 0.42%FII (Foreign Institutional): 0.58%Retail & Others: 34.27%
Mar 2026
QUARTER
64.73% Promoters
0.42% DII (Domestic Institutional)
0.58% FII (Foreign Institutional)
34.27% Retail & Others
Promoter holding - history
Now 64.73% · Mar 2026High 65.17% · Dec 2015Low 64.72% · Mar 2018
63%64%65%66%67%Dec 2015Jun 2018Dec 2020Jun 2023Dec 2025Dec 2015: 65.17%Mar 2016: 65.17%Jun 2016: 65.17%Sep 2016: 65.17%Dec 2016: 65.16%Mar 2017: 65.16%Jun 2017: 65.16%Sep 2017: 64.84%Dec 2017: 64.86%Mar 2018: 64.72%Jun 2018: 64.72%Sep 2018: 64.73%Dec 2018: 64.73%Mar 2019: 64.73%Jun 2019: 64.73%Sep 2019: 64.73%Dec 2019: 64.73%Mar 2020: 64.72%Jun 2020: 64.72%Sep 2020: 64.72%Dec 2020: 64.72%Mar 2021: 64.72%Jun 2021: 64.72%Sep 2021: 64.72%Dec 2021: 64.72%Mar 2022: 64.72%Jun 2022: 64.73%Sep 2022: 64.73%Dec 2022: 64.73%Mar 2023: 64.73%Jun 2023: 64.73%Sep 2023: 64.73%Dec 2023: 64.73%Mar 2024: 64.73%Jun 2024: 64.73%Sep 2024: 64.73%Dec 2024: 64.73%Mar 2025: 64.73%Jun 2025: 64.73%Sep 2025: 64.73%Dec 2025: 64.72%Mar 2026: 64.73%65.17%64.72%64.73%
Shareholding trend - last 6 quarters
Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Promoters64.73%64.72%64.73%64.73%64.73%64.73%
Public35.27%35.28%35.27%35.27%35.27%35.27%
Shareholding history - year on year (as at 31 March)
Mar 2026Mar 2025Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016
Promoters64.73%64.73%64.73%64.73%64.72%64.72%64.72%64.73%64.72%65.16%65.17%
Public35.27%35.27%35.27%35.27%35.28%35.28%35.28%35.27%35.28%34.84%34.83%
Promoter change (YoY, %pts)+0.00+0.00+0.00+0.01+0.00+0.00-0.01+0.01-0.44-0.01-

Board & Governance of Vadilal Industries Limited

As per the corporate governance filing with NSE for the quarter ended 31-MAR-2026, the board of Vadilal Industries Limited has 7 directors - 3 independent and 0 executive.

DirectorPositionOn board sinceListed boards
RAJESH R. GANDHI Non-Executive - Non Independent Director 2009-04-01 2
DEVANSHU L. GANDHI Non-Executive - Non Independent Director 2008-04-01 3
JANMAJAY V GANDHI Non-Executive - Non Independent Director 2025-05-13 2
GAURAV MARATHE Non-Executive - Non Independent Director 2025-05-13 1
SHALINI RAGHAVAN Non-Executive - Independent Director 2025-05-13 1
SHIVAKUMAR DEGA Non-Executive - Independent Director 2025-05-13 2
NAGARAJAN SIVARAMKRISHNAN Non-Executive - Independent Director 2025-05-13 3
Board Committees
CommitteeMembers
Audit Committee NAGARAJAN SIVARAMKRISHNAN (Chairperson), SHIVAKUMAR DEGA, SHALINI RAGHAVAN, JANMAJAY V GANDHI, RAJESH R. GANDHI
Nomination and remuneration committee NAGARAJAN SIVARAMKRISHNAN (Chairperson), SHIVAKUMAR DEGA, SHALINI RAGHAVAN, RAJESH R. GANDHI
Stakeholders Relationship Committee SHIVAKUMAR DEGA, DEVANSHU L. GANDHI, SHALINI RAGHAVAN (Chairperson), GAURAV MARATHE, JANMAJAY V GANDHI
Risk Management Committee SHIVAKUMAR DEGA, NAGARAJAN SIVARAMKRISHNAN (Chairperson), RAJESH R. GANDHI, DEVANSHU L. GANDHI, JANMAJAY V GANDHI, GAURAV MARATHE
Corporate Social Responsibility Committee SHALINI RAGHAVAN (Chairperson), RAJESH R. GANDHI, DEVANSHU L. GANDHI, JANMAJAY V GANDHI, GAURAV MARATHE

Group Structure of Vadilal Industries Limited

Vadilal Industries Limited has 2 subsidiary companies. This group structure data is as of FY 2023. The corporate group structure reflects Vadilal Industries Limited's business expansion strategy and organizational complexity.

2
Subsidiary companies
Key Subsidiaries
Company Name CIN Shares Held
Vadilal Delights Limited U15100GJ2020PLC112444 -
Varood Industries Limited U15201GJ2020PLC112826 -

Showing major subsidiaries. Total: 2.

Charges & Borrowings of Vadilal Industries Limited

Open charges
₹525.32 Cr
Satisfied charges
₹542.22 Cr
Breakdown by lending institutions
Others₹344.66 Cr
Hdfc Bank Limited₹150.66 Cr
Idbi Bank Limited₹30.00 Cr
Latest charge details
DateLenderAmountStatus
05 Nov 2025 Hdfc Bank Limited ₹150 Cr Open
31 Jul 2025 Others ₹89 Cr Open
29 Jul 2025 Others ₹98.33 Cr Open
03 Mar 2025 Idbi Bank Limited ₹30 Cr Open
16 Dec 2024 Others ₹39 Cr Open

Total charge records: 57 View all charges

Employees and EPFO Compliance at Vadilal Industries Limited

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2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026

Employee Count & EPFO Data of Vadilal Industries Limited

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Monthly employee headcount & PF contributions
EPFO establishment details & ECR filing status
Year-wise workforce analytics & attrition trends
PF exemption, coverage & compliance verification

GST Compliance of Vadilal Industries Limited

XX%
Compliant
GSTR-1
GSTR-3B
GSTR-9
MH
KA
UP
TN
TS

GSTIN & GST Filing Data of Vadilal Industries Limited

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GSTIN registrations & state-wise presence
Filing compliance - GSTR-1, GSTR-3B, GSTR-9
HSN/SAC codes with goods & services details
Taxpayer type, jurisdiction & business constitution

Credit Ratings, Litigation & Regulatory Alerts for Vadilal Industries Limited

Credit rating
AAA
AA+
AA
AA-
! !
2015 2017 2019 2021 2023
Litigation
District Court 35
High Court 45
Supreme Court 0
NCLT / NCLAT 0
Pending
Disposed
Regulatory alerts
GSTIN Cancelled
Andhra Pradesh
GSTIN Cancelled
Telangana (on application)
EPFO Delay
12 months delay - Haryana
Violations via Directors
20 MCA + 19 Bank defaults

Credit Ratings, Legal Cases & Regulatory Alerts of Vadilal Industries Limited

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Credit rating history across CARE, ICRA, Brickwork & India Ratings
Instrument-wise ratings, outlook & action timeline
Court-wise litigation (District, High Court, Supreme Court, NCLT)
Group company & common directorship litigation
Statutory compliance alerts (GSTIN, EPFO, ROC)
Director & company violations (MCA, SEBI, Banks, BSE/NSE)

MSME Payment Delays by Vadilal Industries Limited

MSME Payment Delays by Vadilal Industries Limited

Track payments outstanding to micro and small enterprise vendors, as disclosed in half-yearly MSME-1 returns filed with the MCA.

Amounts outstanding to MSME suppliers
Delay periods & reasons for delayed payments
Half-yearly MSME-1 filing history
Vendor-payment behaviour as a counterparty risk signal

Subsidiaries & Group Companies of Vadilal Industries Limited

Subsidiaries & Group Companies of Vadilal Industries Limited

See the full corporate group - holding company, subsidiaries, associates and joint ventures of Vadilal Industries Limited with ownership details.

Holding & parent company details
Subsidiaries & step-down subsidiaries with % holding
Associates & joint ventures with partner details
Investments in other entities year-on-year

MCA Filings & Documents of Vadilal Industries Limited

MCA Filings & Documents of Vadilal Industries Limited

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Incorporation documents, MoA & AoA
Annual returns (MGT-7) & financial statements (AOC-4)
Charge filings (CHG-1, CHG-4) & resolutions
Complete document index with filing dates

Recent Activity on Vadilal Industries Limited

Charges
05 Nov 2025
A charge with Hdfc Bank Limited amounted to Rs. 150.00 Cr with Charge ID 101187678 was registered on 05 Nov 2025.
Directors
07 Oct 2025
Himanshu Kanwar was appointed as a Ceo on 07 Oct 2025 & has been associated with this company since 9 months 1 day.
Directors
29 Sep 2025
Devanshubhai Laxmanbhai Gandhi was appointed as a Director on 29 Sep 2025 & has been associated with this company since 9 months 9 days.
Directors
29 Sep 2025
Janmejay Virendrabhai Gandhi was appointed as a Director on 29 Sep 2025 & has been associated with this company since 9 months 9 days.
Activity
19 Sep 2025
Vadilal Industries Limited last Annual general meeting of members was held on 19 Sep 2025 as per latest MCA records.
Charges
04 Sep 2025
A charge registered on 16 Jun 2021 via Charge ID 100451646 with The Kalupur Commercial Co-Operative Bank Limited was fully satisfied on 04 Sep 2025.

Recent News on Vadilal Industries Limited

Stocks that will see action today: January 31
31 Jan 2025 · Thehindubusinessline
Vadilal Enterprises gets revision in credit ratings
27 Aug 2019 · Business Standard

Frequently Asked Questions about Vadilal Industries Limited

Vadilal Industries Limited is an active public limited company in the food and beverages sector based in Ahmedabad-, Gujarat, India. It was incorporated on 28 April 1982 (44+ years old) and is registered under CIN L91110GJ1982PLC005169. Listed on BSE: 519156 and NSE: VADILALIND.

Vadilal Industries Limited reported revenue of ₹1,255.4 Cr for FY 2025 (up 10.00% YoY).

The current directors of Vadilal Industries Limited are:

The primary industry of Vadilal Industries Limited is food and beverages. The company specifically operates in dairy products and milk processing. The company is currently active in this sector.

Yes. Vadilal Industries Limited is listed on both BSE (code: 519156) and NSE (symbol: VADILALIND).

Vadilal Industries Limited can be reached at the registered office: Vadilal House53 Shrimali Society Nr Navrangpura Police Station, Ahmedabad – , Gujarat, India – 380009, or through the website vadilalgroup.com.

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Financials, directors, compliance, charges and shareholding - sourced from MCA, SEBI and RBI filings.

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