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Varvee Global
(VGL)
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Rating:55Neutral
Price Target:
₹69.00
▼(-55.12% Downside)
Action:Reiterated
Date:09/12/26
The score is primarily held back by financial quality concerns—especially weak cash conversion and negative free cash flow alongside historically volatile profitability—despite a strong FY2026 revenue rebound and improved leverage. Technicals are moderately supportive with price above key moving averages, but mixed momentum indicators and a negative P/E keep valuation confidence low.
Positive Factors
Revenue rebound
The sharp FY2026 revenue rebound indicates renewed demand and improved commercial traction after weaker periods. If sustained, stronger sales can expand the operating base, support reinvestment, and improve the company’s ability to absorb fixed costs over the next several quarters.
Negative Factors
Weak cash conversion
Negative free cash flow and modest operating cash flow relative to reported profit indicate that earnings are not currently converting efficiently into cash. This can constrain internally funded growth, reduce financial flexibility, and make the durability of reported profitability more uncertain.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound
The sharp FY2026 revenue rebound indicates renewed demand and improved commercial traction after weaker periods. If sustained, stronger sales can expand the operating base, support reinvestment, and improve the company’s ability to absorb fixed costs over the next several quarters.
Read all positive factors
Varvee Global (VGL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.32B
Dividend Yield1.34%
Average Volume (3M)14.87K
Price to Earnings (P/E)―
Beta (1Y)0.29
Revenue Growth152.41%
EPS Growth-208.11%
CountryIN
Employees85
SectorGeneral
Sector StrengthN/A
IndustryManufacturing - Textiles
Share Statistics
EPS (TTM)-4.59
Shares Outstanding51,528,680
10 Day Avg. Volume25,944
30 Day Avg. Volume14,872
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 | 33.65M | 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
Neutral
153.75
Price Trends
60.86
Positive
63.38
Negative
64.07
Negative
Market Momentum
1.59
Positive
50.04
Neutral
11.24
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:VGL, the sentiment is Neutral. The current price of 153.75 is above the 20-day moving average (MA) of 62.87, above the 50-day MA of 60.86, and above the 200-day MA of 64.07, indicating a neutral trend. The MACD of 1.59 indicates Positive momentum. The RSI at 50.04 is Neutral, neither overbought nor oversold. The STOCH value of 11.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | ₹2.16B | 23.26 | ― | 0.37% | -0.02% | -26.96% | |
62 Neutral | ₹3.28B | 17.85 | ― | 0.82% | 22.45% | 2.37% | |
58 Neutral | ₹2.42B | 8.53 | ― | ― | 23.44% | -27.95% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹3.32B | -13.75 | ― | 1.34% | 152.41% | -208.11% | |
52 Neutral | ₹4.38B | 29.81 | ― | ― | ― | ― | |
46 Neutral | ₹5.90B | 46.07 | ― | 3.71% | 71.20% | ― |
* General Sector Average
IN:VGL
Varvee Global
63.06
-21.34
-25.28%
IN:ABCOTS
AB Cotspin India Ltd.
191.45
-259.30
-57.53%
IN:GLOSTERLTD
Gloster Ltd.
538.80
-95.13
-15.01%
IN:SHIVATEX
Shiva Texyarn Limited
166.30
-20.24
-10.85%
IN:BELLACASA
Bella Casa Fashion & Retail Ltd.
242.85
-190.85
-44.01%
IN:RNBDENIMS
R&B Denims Ltd
9.00
-32.28
-78.20%
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.