The company has issued more shares over this period, which dilutes each existing shareholder’s stake.
Diluted shares outstanding: 23.5M (2022) → 51.0M (2026)
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, high fashion, and flat finish types. Additionally, the company provides other fabrics such as non-denim, poplin, suiting, and shirting materials, along with cotton yarns and fibers. Founded in 1988, the firm's main operations are situated in Ahmedabad, India. Currently operating as Aarvee Denims and Exports Ltd., the organization is scheduled to officially change its name to Varvee Global Limited in August 2025.
When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.
+211.7% YoY
YoY Growth Rate
Revenue accelerating
-263.3% YoY
YoY Growth Rate
Earnings declining
$0/ year
0.0% of revenue
Below sector average (4%)
Research and development spending
Cash flow positive
$168M cash & investments
Company generates more cash than it spends — no dilution risk from fundraising
Varvee Global grew revenue 212% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.
The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.
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Negative ROIC means the business is losing money on every dollar invested in it.
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Earnings per share down more than 10%. Either a bad year, or a real decline.
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FCF margin between 0% and 10%. Some cash from sales, but not a lot.
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Interest coverage below 1. Their profits don't cover the interest bill.
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P/E under 10. The price tag is small relative to last year's profit.
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