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Varvee Global
(VGL)
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Rating:57Neutral
Price Target:
₹60.00
▼(-60.98% Downside)
Action:Reiterated
Date:06/19/26
The score is held back primarily by weak cash conversion and negative free cash flow despite improved FY2026 profitability, along with a history of volatility. Technicals are moderately supportive (positive momentum but mixed trend vs key moving averages), while valuation looks fair at ~18.6x earnings without a dividend cushion.
Positive Factors
Revenue rebound
The sharp FY2026 revenue rebound indicates renewed demand or improved execution and expands the base from which Varvee Global can scale. If sustained, higher sales can support better fixed-cost absorption and strengthen its competitive position in textiles.
Negative Factors
Weak cash conversion
Negative free cash flow despite reported profitability indicates that earnings are not currently converting into cash. Persistent working-capital needs, reinvestment, or other cash demands could constrain self-funded growth and increase reliance on external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound
The sharp FY2026 revenue rebound indicates renewed demand or improved execution and expands the base from which Varvee Global can scale. If sustained, higher sales can support better fixed-cost absorption and strengthen its competitive position in textiles.
Read all positive factors
Varvee Global (VGL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.84B
Dividend Yield1.34%
Average Volume (3M)2.69K
Price to Earnings (P/E)―
Beta (1Y)0.47
Revenue Growth152.41%
EPS Growth-291.17%
CountryIN
Employees228
SectorGeneral
Sector StrengthN/A
IndustryManufacturing - Textiles
Share Statistics
EPS (TTM)-4.59
Shares Outstanding51,528,680
10 Day Avg. Volume2,581
30 Day Avg. Volume2,685
Financial Highlights & Ratios
PEG Ratio-0.28
Price to Book (P/B)3.08
Price to Sales (P/S)3.78
P/FCF Ratio-269.67
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Varvee Global Business Overview & Revenue Model
Company Description
Varvee Global Limited specializes in the production and global distribution of textiles, serving both Indian and international markets. Their product line features a wide array of denim fabrics, including ring, shirting, printed, stretch, satin, h...
Varvee Global Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
74
Positive
Cash Flow
41
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 716.08M | 628.00M | 424.53M | 844.14M | 2.59B | 4.10B |
| Gross Profit | 375.64M | 312.29M | -438.63M | 31.91M | 654.36M | 1.26B |
| EBITDA | 125.63M | 251.39M | 500.05M | -246.05M | -254.90M | -82.00M |
| Net Income | -195.89M | 124.49M | 185.44M | -446.16M | -650.49M | -414.23M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 1.84B | 2.04B | 4.38B | 5.28B | 6.29B |
| Cash, Cash Equivalents and Short-Term Investments | 36.63M | 36.63M | 154.08M | 22.21M | 1.60M | 98.65M |
| Total Debt | 0.00 | 28.77M | 942.59M | 2.78B | 3.97B | 4.13B |
| Total Liabilities | -770.11M | 1.07B | 1.69B | 4.21B | 4.66B | 5.02B |
| Stockholders Equity | 770.11M | 770.11M | 357.42M | 171.98M | 614.02M | 1.26B |
Cash Flow | ||||||
| Free Cash Flow | 42.65M | -8.79M | 274.72M | 1.10B | 396.46M | 103.82M |
| Operating Cash Flow | 44.48M | 37.51M | 274.72M | 1.10B | 396.46M | 125.21M |
| Investing Cash Flow | 190.68M | 280.80M | 1.82B | 456.63M | 129.28M | 467.12M |
| Financing Cash Flow | -365.49M | -418.97M | -1.96B | -1.56B | -622.79M | -627.96M |
Varvee Global Technical Analysis
Negative
153.75
Price Trends
60.62
Negative
62.85
Negative
65.12
Negative
Market Momentum
-1.59
Positive
35.57
Neutral
17.75
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:VGL, the sentiment is Negative. The current price of 153.75 is above the 20-day moving average (MA) of 57.64, above the 50-day MA of 60.62, and above the 200-day MA of 65.12, indicating a bearish trend. The MACD of -1.59 indicates Positive momentum. The RSI at 35.57 is Neutral, neither overbought nor oversold. The STOCH value of 17.75 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:VGL.
Varvee Global Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | ₹2.37B | 24.64 | ― | 0.34% | -0.02% | -26.96% | |
63 Neutral | ₹3.22B | 17.98 | ― | 0.82% | 22.45% | 2.37% | |
57 Neutral | ₹2.84B | -11.61 | ― | 1.34% | 152.41% | -291.17% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹2.92B | 9.70 | ― | ― | 23.44% | -27.95% | |
48 Neutral | ₹4.64B | 32.68 | ― | ― | ― | ― | |
46 Neutral | ₹6.41B | 50.94 | ― | 3.35% | 71.20% | ― |
* General Sector Average
IN:VGL
Varvee Global
53.49
-32.46
-37.77%
IN:ABCOTS
AB Cotspin India Ltd.
210.00
-230.40
-52.32%
IN:GLOSTERLTD
Gloster Ltd.
596.50
-40.45
-6.35%
IN:SHIVATEX
Shiva Texyarn Limited
183.25
3.29
1.83%
IN:BELLACASA
Bella Casa Fashion & Retail Ltd.
244.60
-151.30
-38.22%
IN:RNBDENIMS
R&B Denims Ltd
10.28
-23.88
-69.91%
Varvee Global Corporate Events
Varvee Global Forms Wholly Owned Renewable Energy Subsidiary
Jul 7, 2026
Varvee Global Limited has incorporated a new wholly owned subsidiary, Varvee Energy Private Limited, in India following approval from the Registrar of Companies. The subsidiary will operate in the renewable energy space, covering activities such a...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.