VTM share price

VTM Ltd's share price was ₹46.78 at the close on 14 August 2026. It has been falling for 11 weeks. That is 32.8% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹47 and ₹98, and at that close it was at the low of that range.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today VTM Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 18 weeks running.

Over the last 10 years the share price moved +328% while the NIFTY 500 moved +278%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 15 May 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

8 points on a year earlier.

1. Profit down on a year earlier for 5 quarters in a row

   In the June 2026 quarter profit was ₹2 crore, -58% on a year earlier.

2. Operating margin down 5.8 points on a year earlier

   5.9% in the June 2026 quarter, from 11.7%.

For April to June 2026 (the quarter ended 30 June 2026), VTM reported revenue of ₹98.4 crore, up 36.7% from ₹72.0 crore a year earlier, and a profit of ₹1.93 crore, down 58.0% from ₹4.60 crore.

VTM results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 8 June 2026, about January to March 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

VTM closed at ₹46.78 on 14 August 2026, down 44.7% from ₹84.60 a year earlier (14 August 2025) and up 199.9% over five years. Its highest weekly close since March 2016 was ₹118.58 on 18 July 2025.

VTM share price: then and now

Weekly closing prices. Each change is the move from that price to the 14 Aug 2026 close. A day's intraday high or low can go beyond these weekly closes.

548 weekly closes from 11 March 2016 to 14 August 2026.

14 Aug 2026: VTM closed at ₹46.78, down 23.0% on the week and down 34.2% on the month. Results for April to June 2026: Revenue up 36.7% and profit down 58.0% on a year earlier.

Earlier

• 8 Jun 2026: VTM held its results call for January to March 2026. Management guided: FY27 consolidated revenue growth 12.0-14.0% aiming for approximately ₹420 crore (from ₹372 crore base) - specific range, prepared remarks, consistent across Q&A.

The NSE corporate-actions record has no dividend for VTM since 1 April 2021, so this page cannot show amounts per share.

Yes. VTM Ltd paid out 67% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 7 November 2026.

On the call for January to March 2026, held on 8 June 2026, VTM's management guided: FY27 consolidated revenue growth 12.0-14.0% aiming for approximately ₹420 crore (from ₹372 crore base) - specific range, prepared remarks, consistent across Q&A.

“The 18.0% discount happened when our goods were being tariffed between 50.0% and 60.0%. To share that burden, we extended the 18.0% discount. Tariffs have come down to 10.0%, but our discount remains at 18.0%, and we are trying to negotiate that down”Management, on the call for January to March 2026

What management guided

• FY27 operating margin 10.0-11.0% versus FY26 7.5% - specific range, extracted under direct questioning; dependent on tariff discount reduction and new loom operating leverage.
• FY27 home textile volume growth 15.0-20.0% with Quinn's from 6 million orders in hand; product mix 50.0% commodity, 50.0% value-add - specific ranges, Q&A extracted.
• Peak cash revenue capacity ₹420 crore at current 80.0% utilization model - specific, represents ceiling under existing operations without major capital spending or optimization.
• Non-US made-up exports aiming for 40-50 crore over 2-3 years from baseline 16-17 crore (10.0% to 15.0%+ of made-up revenue) - range, multi-year, directional, extracted in Q&A.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for January to March 2026, 8 June 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

When VTM reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Tariff discount negotiation outcome with Quinn's: stuck at 18.0% despite current 10.0% tariff; management said negotiations are currently ongoing with no timeline; tracker metric is next quarter realized pricing level on made-up sales - any movement toward 10.0-12.0% discount range would signal progress.

VTM is not on any of our India lists this week.

VTM Ltd earned ₹1.9 Cr of net profit in the Jun 2026 quarter, −58.0% on the same quarter a year earlier. Full-year FY26 profit was ₹11.0 Cr. Over 10 years profit has grown 2.0% a year on average. That is 2.0% of the quarter's revenue. The same quarter a year earlier earned ₹4.6 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹11.0 Cr (−75.6% on the year before).

Why profit moved: revenue changed +36.7% on a year earlier and the margin moved −5.8 percentage points. Sales did the work while the margin got thinner.

On average over the last four quarters, profit changed −77.1% and revenue +14.4%. Profit is growing slower than sales: rising costs are taking part of the growth.

VTM Ltd reported ₹98.4 Cr of revenue in the Jun 2026 quarter, +36.7% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 10 years it has grown 9.2% a year on average. The last full year, FY26, came in at ₹372 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹398 Cr.

FY26 revenue was ₹372 Cr, +7.8% on the year before.

Recent pace: the last four quarters grew +14.4% on average, against 9.2% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +11.5%, against +34.2% a year over the last 8 quarters (rolling over); profit over the last 12 months grew −80.9%, against −31.9% a year (rolling over).

VTM Ltd's operating margin was 5.9% in the Jun 2026 quarter, 5.8 percentage points lower than the same quarter a year ago. Across 13 years it has been between 7.0% and 19.0%. The latest quarter is below every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −5.8 percentage points on the year while gross margin changed −10.5 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years VTM Ltd's operations used more cash than they brought in, so cash conversion was −66%, a gap worth watching. In FY26 it brought in ₹1.0 Cr of operating cash against ₹11.0 Cr of profit. After ₹26.0 Cr of spending on assets, free cash was −₹25.0 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why −66% of profit came in as cash: the cash cycle got 102 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: less of the profit turns into cash than it should, and the cash cycle is 102 days longer. The next section looks at where the cash is stuck.

VTM Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 230 days in FY26, up from 128 days in FY21. It spent ₹59.0 Cr on assets over the last 3 years. Customers take 50 days to pay, and stock sits for 237 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹372 Cr, each day of that cycle ties up about ₹1.0 Cr, so roughly ₹234 Cr is tied up in the business at any time.

FY26: customers took 50 days to pay and stock sat for 237 days, about 7.8 months of sales sitting as stock, for a full cycle of 230 days, longer than FY21's 128.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 237 days. Customers pay about 50 days after that. Suppliers are paid at 57 days. Together that makes the 230-day cycle.

Spending on assets: ₹59.0 Cr over the last 3 years, against ₹29.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹2.0 Cr (FY26): assets paid for that are not earning yet.

In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit.

VTM Ltd's P/E is 42.6×, near the high end of its own history: higher than 97% of past readings. Its usual P/E (the middle reading) is 13.2×, over 10 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹0.85.