Veritas (India) Ltd

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

Veritas (India) Ltd

₹ 175 -1.88%
08 May - close price
veritasindia.net BSE: 512229
About

Incorporated in 1985, Veritas India Ltd is in the business of Trading, Distribution, Development, and Wind Power Generation, and Manufacturing
& Warehousing.[1]

Key Points

Business Overview:[1]
VIL (formerly Duroflex Engineering Ltd) is a diversified company engaged in international trade and distribution across polymers, paper and paper boards, rubber, heavy distillates, and chemicals. It is also involved in software development, agriculture, manufacturing, warehousing, and wind energy generation.

Website BSE
  • Market Cap ₹ 469 Cr.
  • Current Price ₹ 175
  • High / Low ₹ 417 / 132
  • Stock P/E 110
  • Book Value ₹ 73.2
  • Dividend Yield 0.03 %
  • ROCE 2.84 %
  • ROE 2.23 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.

Cons

  • The company has delivered a poor sales growth of -9.85% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 2.18% over last 3 years.
  • Contingent liabilities of Rs.570 Cr.
  • Earnings include an other income of Rs.2.36 Cr.
  • Promoter holding has decreased over last 3 years: -8.36%

* 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

Services Services Commercial Services & Supplies Trading & Distributors

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
57.39 75.30 60.99 91.89 77.05 15.39 61.78 142.43 108.74 10.20 0.00 6.88 12.30
57.10 75.93 58.32 91.51 75.89 14.37 61.23 140.94 107.18 9.13 1.70 7.01 8.04
Operating Profit 0.29 -0.63 2.67 0.38 1.16 1.02 0.55 1.49 1.56 1.07 -1.70 -0.13 4.26
OPM % 0.51% -0.84% 4.38% 0.41% 1.51% 6.63% 0.89% 1.05% 1.43% 10.49% -1.89% 34.63%
1.61 0.80 0.77 0.78 0.36 0.36 0.36 0.36 0.36 0.36 1.15 0.20 0.65
Interest 0.08 0.08 0.07 0.07 0.01 0.05 0.03 0.30 0.07 0.82 0.00 0.00 0.03
Depreciation 0.01 0.01 2.30 0.01 0.06 0.13 0.07 0.04 0.06 0.04 0.03 0.03 0.03
Profit before tax 1.81 0.08 1.07 1.08 1.45 1.20 0.81 1.51 1.79 0.57 -0.58 0.04 4.85
Tax % 16.02% 0.00% 7.48% 24.07% 35.17% 15.00% -28.40% 22.52% 20.67% -19.30% -8.62% 0.00% 15.67%
1.51 0.07 0.99 0.82 0.95 1.01 1.05 1.17 1.43 0.68 -0.54 0.04 4.08
EPS in Rs 0.56 0.03 0.37 0.31 0.35 0.38 0.39 0.44 0.53 0.25 -0.20 0.01 1.52
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
402.73 505.95 451.92 534.02 524.89 611.53 542.70 422.85 353.90 227.93 245.32 323.14 29.38
396.01 500.70 443.49 526.08 517.80 607.93 539.57 422.45 348.57 229.65 240.34 318.47 25.88
Operating Profit 6.72 5.25 8.43 7.94 7.09 3.60 3.13 0.40 5.33 -1.72 4.98 4.67 3.50
OPM % 1.67% 1.04% 1.87% 1.49% 1.35% 0.59% 0.58% 0.09% 1.51% -0.75% 2.03% 1.45% 11.91%
4.66 7.85 3.25 4.59 4.98 12.63 6.31 8.41 2.56 6.75 2.54 1.44 2.36
Interest 2.12 1.63 2.26 2.23 2.46 3.06 0.34 0.25 0.28 0.05 2.38 1.22 0.85
Depreciation 0.56 0.58 0.65 0.65 0.61 0.58 0.47 0.32 0.32 0.30 0.33 0.20 0.13
Profit before tax 8.70 10.89 8.77 9.65 9.00 12.59 8.63 8.24 7.29 4.68 4.81 4.69 4.88
Tax % 18.16% 19.47% 14.14% 18.34% 38.22% 23.27% 1.62% 17.72% 14.95% 15.17% 21.62% 7.46%
7.12 8.77 7.53 7.87 5.57 9.67 8.48 6.78 6.20 3.97 3.77 4.34 4.26
EPS in Rs 2.94 3.62 2.81 2.94 2.08 3.61 3.16 2.53 2.31 1.48 1.41 1.62 1.58
Dividend Payout % 1.70% 1.38% 1.78% 1.70% 2.41% 1.39% 1.58% 1.98% 2.16% 3.38% 3.55% 3.09%
Compounded Sales Growth
10 Years: -4%
5 Years: -10%
3 Years: -3%
TTM: -91%
Compounded Profit Growth
10 Years: 2%
5 Years: -13%
3 Years: -11%
TTM: -9%
Stock Price CAGR
10 Years: 5%
5 Years: 22%
3 Years: 7%
1 Year: -53%
Return on Equity
10 Years: 4%
5 Years: 3%
3 Years: 2%
Last Year: 2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 2.42 2.42 2.68 2.68 2.68 2.68 2.68 2.68 2.68 2.68 2.68 2.68 2.68
Reserves 101.16 109.81 142.94 147.83 153.27 162.80 170.33 176.28 182.22 186.10 189.71 194.07 193.44
21.03 19.76 25.71 17.18 11.14 0.00 0.00 0.00 0.00 0.00 12.41 14.17 11.42
13.52 51.38 21.70 51.43 106.36 227.01 354.15 374.97 364.13 306.21 298.21 280.35 283.53
Total Liabilities 138.13 183.37 193.03 219.12 273.45 392.49 527.16 553.93 549.03 494.99 503.01 491.27 491.07
7.15 6.70 7.74 7.48 7.20 6.63 3.60 3.30 3.00 2.89 1.82 1.25 1.20
CWIP 0.00 1.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 12.13 2.67 30.21 31.35 95.64 147.54 302.54 328.35 374.32 386.99 387.91 379.07 383.04
118.85 172.96 155.08 180.29 170.61 238.32 221.02 222.28 171.71 105.11 113.28 110.95 106.83
Total Assets 138.13 183.37 193.03 219.12 273.45 392.49 527.16 553.93 549.03 494.99 503.01 491.27 491.07

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-27.52 -9.83 -6.07 7.75 72.41 63.03 129.52 21.72 43.10 11.45 -10.14 -10.54
32.90 16.14 -24.97 1.37 -58.48 -45.90 -128.84 -21.43 -42.90 -11.01 1.32 9.05
-4.69 -3.00 29.58 -9.62 -8.25 -14.34 -0.48 -0.39 -0.42 -0.19 9.26 0.68
Net Cash Flow 0.69 3.31 -1.46 -0.50 5.68 2.79 0.21 -0.10 -0.21 0.25 0.44 -0.81
Free Cash Flow -27.52 -11.00 -6.72 9.12 72.09 63.02 131.45 21.70 43.08 11.25 -10.06 -10.17
CFO/OP -391% -166% -36% 125% 1,041% 1,844% 4,212% 5,638% 819% -754% -184% -203%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 92.64 74.95 65.00 69.54 75.54 35.23 122.55 166.61 79.78 69.31 19.70 1.19
Inventory Days 1.35 17.27 0.08 17.32 10.54 73.35 0.11 0.33 84.07 74.26 63.71 48.52
Days Payable 9.38 32.25 15.53 30.27 65.94 129.87 238.82 140.42 250.81 125.53 53.39 92.25
Cash Conversion Cycle 84.61 59.97 49.55 56.59 20.15 -21.28 -116.15 26.52 -86.96 18.03 30.02 -42.55
Working Capital Days 69.41 64.62 77.20 70.27 24.24 -0.99 -86.77 50.87 -71.65 38.22 38.85 -29.21
ROCE % 9.15% 4.56% 7.27% 7.29% 6.85% 9.62% 5.67% 4.82% 4.16% 2.53% 3.98% 2.84%

Insights

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Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Number of Storage Tanks
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Number of Vessels
Units
Storage Capacity
KL
Trading Volume
Million MT
Permanent Employee Count
Units

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
55.01% 55.01% 55.01% 55.01% 55.01% 55.01% 55.01% 55.01% 55.01% 55.01% 55.01% 55.01%
9.70% 9.91% 9.73% 9.71% 9.71% 9.70% 9.70% 9.70% 9.70% 9.70% 9.70% 9.70%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.14% 0.14% 0.14% 0.14% 0.12% 0.00%
35.30% 35.08% 35.25% 35.28% 35.28% 35.28% 35.15% 35.15% 35.15% 35.15% 35.17% 35.29%
No. of Shareholders 3,0153,0693,1423,2483,9484,6645,6666,4206,8296,5636,7246,683

* 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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