Suchita Jain named Managing Director of Vardhman Textiles | FY26 Results, Dividend
Ludhiana textile conglomerate Vardhman Textiles elevates Suchita Jain to Vice-Chairperson & MD in generational leadership shift; Neeraj Jain named MD; board recommends ₹5/share dividend
North Desk Correspondent
Chandigarh, May 8
In a significant leadership transition at one of Punjab’s largest listed industrial houses, Vardhman Textiles Limited has elevated Suchita Jain as Vice-Chairperson and Managing Director of the company — making her the most senior executive at the Ludhiana-based textile conglomerate with revenue of nearly ₹10,000 crore.
The board of directors, meeting on May 7 approved her appointment for a five-year term from April 1, 2026 to March 31, 2031. She was previously Vice-Chairperson and Joint Managing Director.
Suchita Jain is the daughter-in-law of S.P. Oswal, the founder and Chairman & Managing Director of Vardhman, who signed the results filing. Her husband is Sachit Jain, also a director in the group.
Her elevation to the sole MD designation — in an industry and a city where top executive roles at major textile houses have traditionally been held by men — marks a notable moment in Ludhiana’s industrial history.
Who is Suchita Jain
Suchita Jain holds a Master’s degree in Commerce from Panjab University, Chandigarh, and has completed executive programmes at London Business School and INSEAD, Paris. The filing credits her with over 33 years of experience in the textile industry and describes her as having played an “instrumental role” in establishing the company’s fabric manufacturing operations, both grey and processed.
The board simultaneously appointed Neeraj Jain as Managing Director for the same five-year term. He was previously Joint Managing Director. A qualified Chartered Accountant and Harvard Business School alumnus with over 35 years of experience in finance and the yarn business within the group, Neeraj Jain is not related to any other director of the company.
Both appointments are subject to member approval.
Baddi and Budhni expansions go live
The leadership transition comes as Vardhman completes a major capital investment cycle. During the January-March 2026 quarter, the company capitalised a new technical textile unit in Baddi (Himachal Pradesh) and an additional processing line in Budhni (Madhya Pradesh), together worth ₹570 crore, following commencement of commercial production on March 1 and March 7, 2026 respectively. The Baddi unit is significant for North India’s textile manufacturing map and reflects Vardhman’s continued investment in its HP operations.
Profit dips, revenue holds
For the full financial year ended March 31, 2026, Vardhman Textiles reported a standalone profit after tax of ₹740 crore, down from ₹879 crore in the previous year — a decline of roughly 16%. Standalone revenue from operations stood at ₹9,652 crore, broadly flat against ₹9,587 crore in FY25.
On a consolidated basis — which includes subsidiaries Vardhman Acrylics and VTL Investments, and associates including Vardhman Special Steels — the group reported a net profit of ₹753 crore against revenue of ₹9,869 crore.
The profit decline was partly attributed to higher employee costs, including past service costs recognised under new Labour Codes notified by the central government in November 2025. Finance costs also rose, reflecting increased borrowings linked to the ongoing capital expansion. The auditors’ report from Deloitte Haskins & Sells LLP carried an unmodified (clean) opinion.
Earnings per share on a standalone basis stood at ₹25.58 for the full year, against ₹30.40 in FY25.
Also Read: Punjab Chemicals Crosses ₹1,000 Crore Revenue, Posts 54% Profit Jump in FY26
Dividend: ₹5 per share recommended
The board has recommended a final dividend of ₹5 per share on fully paid-up equity shares of face value ₹2 each for FY2025-26.
The dividend is subject to approval by shareholders at the Annual General Meeting (AGM). Once approved, it will be paid within five days of the AGM’s conclusion.
Vardhman Textiles has not yet announced the AGM date, record date, or ex-dividend date. These will be notified separately to the stock exchanges.
For context, in FY2024-25, the company had declared a dividend of ₹5 per share — so the payout quantum is unchanged year-on-year despite the profit decline.
North Desk covers business in a major way in North India.
