Veritas (India) Ltd

Veritas (India) Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Veritas (India) Ltd

₹ 1,528 2.00%
26 Apr - close price
veritasindia.net BSE: 512229
About

Formerly known as Duroflex Engineering, Veritas (India) Limited (VIL) was established in 1985 and is based in Mumbai. The company is focused on Trading & Distribution of Chemicals, Logistics, Development of Software and Power Generation (Wind Energy). The company has established overseas subsidiaries and offices.

Key Points

Business Overview
The company is engaged in the business of International Trade & Distribution of Polymers, Paper & Paper Boards, Rubber, Heavy Distillates, Chemicals, Development of Software, etc. The Company is also engaged In generation of Wind Energy. [1]

Website BSE
  • Market Cap ₹ 4,097 Cr.
  • Current Price ₹ 1,528
  • High / Low ₹ 1,528 / 139
  • Stock P/E 1,448
  • Book Value ₹ 71.0
  • Dividend Yield 0.00 %
  • ROCE 2.53 %
  • ROE 2.12 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Debtor days have improved from 105 to 69.3 days.

Cons

  • Stock is trading at 21.5 times its book value
  • The company has delivered a poor sales growth of -15.4% over past five years.
  • Company has a low return on equity of 3.11% over last 3 years.
  • Earnings include an other income of Rs.2.71 Cr.
  • Promoter holding has decreased over last 3 years: -10.2%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Trading Industry: Trading

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
74.38 45.34 2.12 17.28 69.74 264.76 16.46 78.79 57.39 75.30 60.99 91.89 77.05
75.00 47.89 2.95 18.07 65.85 261.71 19.54 77.07 57.10 75.93 58.32 91.51 75.89
Operating Profit -0.62 -2.55 -0.83 -0.79 3.89 3.05 -3.08 1.72 0.29 -0.63 2.67 0.38 1.16
OPM % -0.83% -5.62% -39.15% -4.57% 5.58% 1.15% -18.71% 2.18% 0.51% -0.84% 4.38% 0.41% 1.51%
1.30 4.29 1.17 1.02 2.00 -1.62 3.56 0.78 1.61 0.80 0.77 0.78 0.36
Interest 0.03 0.06 0.07 0.09 0.08 0.08 0.07 0.08 0.08 0.08 0.07 0.07 0.01
Depreciation 0.12 0.08 0.09 0.05 0.07 0.08 0.01 0.01 0.01 0.01 2.30 0.01 0.06
Profit before tax 0.53 1.60 0.18 0.09 5.74 1.27 0.40 2.41 1.81 0.08 1.07 1.08 1.45
Tax % -101.89% 98.75% 11.11% 55.56% 10.98% 31.50% -10.00% 18.26% 16.02% 0.00% 7.48% 24.07% 35.17%
1.06 0.02 0.16 0.04 5.12 0.88 0.43 1.96 1.51 0.07 0.99 0.82 0.95
EPS in Rs 0.40 0.01 0.06 0.01 1.91 0.33 0.16 0.73 0.56 0.03 0.37 0.31 0.35
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
307 339 403 506 452 534 525 612 543 423 354 228 305
306 336 396 501 443 526 518 608 540 422 349 230 302
Operating Profit 1 3 7 5 8 8 7 4 3 0 5 -2 4
OPM % 0% 1% 2% 1% 2% 1% 1% 1% 1% 0% 2% -1% 1%
9 8 5 8 3 5 5 13 6 8 3 7 3
Interest 2 2 2 2 2 2 2 3 0 0 0 0 0
Depreciation 1 1 1 1 1 1 1 1 0 0 0 0 2
Profit before tax 7 8 9 11 9 10 9 13 9 8 7 5 4
Tax % 29% 19% 18% 19% 14% 18% 38% 23% 2% 18% 15% 15%
5 7 7 9 8 8 6 10 8 7 6 4 3
EPS in Rs 2.17 2.80 2.94 3.62 2.81 2.94 2.08 3.61 3.16 2.53 2.31 1.48 1.06
Dividend Payout % 0% 2% 2% 1% 2% 2% 2% 1% 2% 2% 2% 3%
Compounded Sales Growth
10 Years: -4%
5 Years: -15%
3 Years: -25%
TTM: -27%
Compounded Profit Growth
10 Years: -5%
5 Years: -7%
3 Years: -24%
TTM: -41%
Stock Price CAGR
10 Years: 50%
5 Years: 97%
3 Years: 182%
1 Year: 955%
Return on Equity
10 Years: 4%
5 Years: 4%
3 Years: 3%
Last Year: 2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 2 2 2 2 3 3 3 3 3 3 3 3 3
Reserves 79 86 101 110 143 148 153 163 170 176 182 186 188
15 23 21 20 26 17 11 0 0 0 0 0 0
11 4 14 51 22 51 106 227 354 375 364 306 332
Total Liabilities 108 116 138 183 193 219 273 392 527 554 549 495 523
8 8 7 7 8 7 7 7 4 3 3 3 3
CWIP 0 0 0 1 0 0 0 0 0 0 0 0 0
Investments 10 11 12 3 30 31 96 148 303 328 374 387 387
90 97 119 173 155 180 171 238 221 222 172 105 133
Total Assets 108 116 138 183 193 219 273 392 527 554 549 495 523

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-20 -14 -28 -10 -6 8 72 63 130 22 43 11
18 6 33 16 -25 1 -58 -46 -129 -21 -43 -11
1 6 -5 -3 30 -10 -8 -14 -0 -0 -0 -0
Net Cash Flow -1 -2 1 3 -1 -0 6 3 0 -0 -0 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 55 62 93 75 65 70 76 35 123 167 80 69
Inventory Days 5 3 1 17 0 17 11 73 0 0 84 74
Days Payable 9 1 9 32 16 30 66 130 239 140 251 126
Cash Conversion Cycle 51 64 85 60 50 57 20 -21 -116 27 -87 18
Working Capital Days 54 65 86 77 97 82 32 -1 -87 51 -72 38
ROCE % 10% 10% 9% 5% 7% 7% 7% 10% 6% 5% 4% 3%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
65.23% 65.23% 65.23% 63.36% 63.36% 56.79% 22.83% 63.37% 55.01% 55.01% 55.01% 55.01%
9.70% 9.70% 9.70% 9.70% 9.70% 9.70% 9.70% 0.00% 9.70% 9.91% 9.73% 9.71%
25.08% 25.08% 25.08% 26.94% 26.94% 33.51% 67.47% 36.64% 35.30% 35.08% 35.25% 35.28%
No. of Shareholders 1,1491,6042,5233,2363,1223,0842,7462,8783,0153,0693,1423,248

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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