About Vardhman Polytex Limited

Vardhman Polytex Limited is a public listed company engaged in manufacturing yarn and garments, with a recent venture into the Real Estate business during FY 2024-25. Incorporated in 1984, it is listed on the National Stock Exchange of India (NSE) and BSE. The principal place of business is Vardhman Park, Chandigarh Road, Ludhiana. The company produces Cotton Yarns (Carded, Combed, Organic, BCI), Cotton Polyester Yarns, and Value Added Yarns (Grey and Dyed) in multiple counts using quality raw materials and modern technology, emphasizing innovation and market alignment.

As of March 31, 2025, Vardhman Polytex operated one production facility at Nalagarh, Himachal Pradesh. Operations at the Bathinda unit were closed during FY 2023-24 due to non-viability, and the Ludhiana unit was closed in March 2025 to pursue real estate monetization and streamline cash flows. The workforce comprised 639 employees, maintaining cordial industrial relations across units.

The company’s product range encompasses grey yarn, garments, and trading goods, alongside waste sales and job work income. Raw materials consumed in FY 2024-25 included cotton, cotton yarn, and synthetic fibre, all domestically sourced. The company had no subsidiaries as on March 31, 2025.

Key Milestones of Vardhman Polytex Limited

• Expansion into Real Estate business with regulatory approval to establish a residential colony at Bathinda and reclassification of Bathinda land for monetisation.
• Sub-division of equity shares from Rs 10 to Re 1 effective May 2, 2025.
• Issued 8.3 crore shares on rights basis raising Rs 49.83 crore, with funds deployed for debt repayment and corporate purposes.
• Conversion of convertible warrants into equity shares and additional issuance of warrants to promoter group entities.

Vardhman Polytex Limited Business Segment

Manages textile manufacturing including spinning and weaving of various cotton and cotton-polyester yarns, garment production, and real estate development activities.

Engaged in textile manufacturing and garments production, with a newly initiated real estate segment. Operations are based in India with facilities and projects primarily in Himachal Pradesh and Punjab.

Vardhman Polytex Limited Key Management

• Gagan N. Mittal – Chairman & Managing Director
• Nirmalkumar M. Mittal – Non‑Executive Director
• Ritesh K. Hada – Non‑Executive Director
• Sejalben S. Parmar – Independent Director
• Safalkumar Hasmukhbhai Patel – Independent Director
• Rashmi Kamlesh Otavani – Independent Director
• Mahesh S. Gupta – Chief Financial Officer
• Ms. Vidya Baghel – Company Secretary & Compliance Officer

Latest Updates on Vardhman Polytex Limited

• Commenced real estate business and reclassified Bathinda land to inventory for monetization in December 2024.
• Closed non-viable Bathinda and Ludhiana manufacturing units; Nalagarh remains operational.
• Executed stock split and capital raise including preferential allotment and warrants conversion, significantly augmenting capital base.
• Maintained zero imports of raw materials with domestic sourcing exclusively.