Veritas (India) Ltd

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

Veritas (India) Ltd

₹ 369 0.78%
18 Sep 1:22 p.m.
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 ₹ 989 Cr.
  • Current Price ₹ 369
  • High / Low ₹ 1,190 / 354
  • Stock P/E 11.0
  • Book Value ₹ 994
  • Dividend Yield 0.01 %
  • ROCE 5.35 %
  • ROE 4.39 %
  • Face Value ₹ 1.00
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Pros

  • Stock is trading at 0.40 times its book value
  • Debtor days have improved from 183 to 114 days.
  • Company's working capital requirements have reduced from 88.1 days to 41.5 days

Cons

  • Tax rate seems low
  • Company has a low return on equity of 5.49% over last 3 years.
  • Contingent liabilities of Rs.570 Cr.
  • Dividend payout has been low at 0.11% of profits over last 3 years
  • Promoter holding has decreased over last 3 years: -8.35%

* 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

Part of BSE SmallCap BSE Allcap BSE Services

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025
392 540 572 659 495 941 1,324 1,095 756 916 1,642 786 587
366 503 533 618 453 884 1,269 1,044 691 867 1,592 759 551
Operating Profit 26 37 39 41 42 57 55 51 64 48 50 26 36
OPM % 7% 7% 7% 6% 8% 6% 4% 5% 9% 5% 3% 3% 6%
3 0 1 0 0 0 56 0 1 13 3 -12 3
Interest 4 4 6 4 8 6 6 11 8 14 13 6 5
Depreciation 8 9 9 9 9 9 9 16 9 10 10 10 10
Profit before tax 17 24 25 29 25 42 96 24 48 37 30 -1 24
Tax % -0% 2% 1% 0% 0% 1% 1% 1% -0% 1% 1% -9% -0%
17 24 25 29 25 42 96 24 48 37 30 -1 24
EPS in Rs 6.31 8.88 9.33 10.84 9.38 15.52 35.73 9.06 17.93 13.67 11.16 -0.41 9.01
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
1,202 1,503 1,456 1,648 1,679 1,876 2,037 1,876 2,131 2,163 3,855 4,099 3,930
1,166 1,446 1,388 1,567 1,601 1,765 1,899 1,714 1,975 2,021 3,651 3,910 3,770
Operating Profit 36 57 68 82 78 110 138 163 157 142 204 189 161
OPM % 3% 4% 5% 5% 5% 6% 7% 9% 7% 7% 5% 5% 4%
3 0 -0 2 1 12 49 4 0 5 58 5 7
Interest 6 6 6 9 7 51 35 24 19 17 31 41 38
Depreciation 1 1 1 1 1 25 30 32 32 34 43 39 40
Profit before tax 33 50 61 73 71 46 122 111 106 96 188 114 90
Tax % 5% 4% 2% 2% 5% 6% 0% 1% 1% 1% 1% 0%
31 48 60 71 68 44 122 109 105 95 187 114 90
EPS in Rs 12.83 19.85 22.47 26.67 25.27 16.23 45.61 40.82 39.05 35.36 69.69 42.36 33.43
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 11%
5 Years: 15%
3 Years: 24%
TTM: -4%
Compounded Profit Growth
10 Years: 9%
5 Years: -2%
3 Years: 3%
TTM: -57%
Stock Price CAGR
10 Years: 14%
5 Years: 60%
3 Years: 48%
1 Year: -61%
Return on Equity
10 Years: 5%
5 Years: 5%
3 Years: 5%
Last Year: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 2 2 3 3 3 3 3 3 3 3 3 3
Reserves 189 1,021 1,113 1,177 1,244 1,694 1,886 1,971 2,108 2,301 2,507 2,663
140 209 409 644 969 495 487 389 268 232 327 272
96 193 270 383 720 786 919 923 1,623 1,586 1,346 898
Total Liabilities 427 1,426 1,794 2,207 2,936 2,978 3,295 3,286 4,001 4,121 4,183 3,836
21 856 857 858 858 1,896 2,038 1,982 1,984 2,053 2,052 2,033
CWIP 0 84 386 730 1,316 331 334 339 342 344 349 349
Investments 1 1 1 1 1 1 1 1 1 9 10 2
405 485 550 618 761 751 922 964 1,674 1,715 1,772 1,453
Total Assets 427 1,426 1,794 2,207 2,936 2,978 3,295 3,286 4,001 4,121 4,183 3,836

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-13 -25 156 80 279 225 145 144 121 81 56 29
-5 -85 -303 -346 -587 -77 -71 -10 27 -3 -32 19
17 113 219 228 317 -133 -87 -130 -148 -76 -13 -27
Net Cash Flow -1 3 72 -38 9 15 -12 4 -0 1 11 21

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 117 84 105 113 145 105 155 178 269 278 157 114
Inventory Days 1 6 0 8 3 25 0 0 15 8 4 4
Days Payable 29 46 27 31 58 84 103 70 197 156 15 66
Cash Conversion Cycle 89 44 78 90 90 46 52 108 88 130 146 53
Working Capital Days 49 35 52 61 -26 17 39 82 70 100 123 42
ROCE % 13% 7% 5% 5% 4% 4% 7% 6% 5% 5% 8% 5%

Shareholding Pattern

Numbers in percentages

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025
56.79% 22.83% 63.37% 55.01% 55.01% 55.01% 55.01% 55.01% 55.01% 55.01% 55.01% 55.01%
9.70% 9.70% 0.00% 9.70% 9.91% 9.73% 9.71% 9.71% 9.70% 9.70% 9.70% 9.70%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.14% 0.14% 0.14%
33.51% 67.47% 36.64% 35.30% 35.08% 35.25% 35.28% 35.28% 35.28% 35.15% 35.15% 35.15%
No. of Shareholders 3,0842,7462,8783,0153,0693,1423,2483,9484,6645,6666,4206,829

* 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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