Veritas (India) Ltd

Veritas (India) Ltd

₹ 1,070 2.00%
28 Mar - close price
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[1]
VIL, Aspen, and Sanman are the group companies of Group Veritas (GV). The company primarily trades in Petrochemicals, Polymers, Paper & Paper Boards, Rubber, Heavy Distillates, Metals, Agri-Products, etc.

  • Market Cap 2,869 Cr.
  • Current Price 1,070
  • High / Low 1,070 / 133
  • Stock P/E 15.0
  • Book Value 889
  • Dividend Yield 0.00 %
  • ROCE 4.59 %
  • ROE 4.30 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter

Cons

  • The company has delivered a poor sales growth of 5.19% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 5.00% over last 3 years.
  • Dividend payout has been low at 0.13% of profits over last 3 years
  • Company has high debtors of 278 days.
  • 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

Consolidated Figures in Rs. Crores / View Standalone

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
421 426 334 827 459 512 392 540 572 659 495 941 1,324
379 384 287 780 432 476 366 503 533 618 453 884 1,269
Operating Profit 42 42 46 47 27 36 26 37 39 41 42 57 55
OPM % 10% 10% 14% 6% 6% 7% 7% 7% 7% 6% 8% 6% 4%
1 2 1 0 2 -2 3 0 1 0 0 0 56
Interest 6 5 6 5 2 6 4 4 6 4 8 6 6
Depreciation 8 8 8 8 8 8 8 9 9 9 9 9 9
Profit before tax 29 30 34 34 18 19 17 24 25 29 25 42 96
Tax % -2% 5% 0% 0% 3% 2% -0% 2% 1% 0% 0% 1% 1%
29 29 34 34 18 19 17 24 25 29 25 42 96
EPS in Rs 10.99 10.68 12.54 12.79 6.64 7.09 6.31 8.88 9.33 10.85 9.38 15.52 35.73
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
790 914 1,202 1,503 1,456 1,648 1,679 1,876 2,037 1,876 2,131 2,163 3,419
774 888 1,166 1,446 1,388 1,567 1,601 1,765 1,899 1,714 1,975 2,021 3,224
Operating Profit 16 26 36 57 68 82 78 110 138 163 157 142 195
OPM % 2% 3% 3% 4% 5% 5% 5% 6% 7% 9% 7% 7% 6%
3 0 3 0 -0 2 1 12 49 4 0 5 57
Interest 3 5 6 6 6 9 7 51 35 24 19 17 24
Depreciation 1 1 1 1 1 1 1 25 30 32 32 34 35
Profit before tax 16 21 33 50 61 73 71 46 122 111 106 96 192
Tax % 14% 8% 5% 4% 2% 2% 5% 6% 0% 1% 1% 1%
14 19 31 48 60 71 68 44 122 109 105 95 192
EPS in Rs 5.58 7.96 12.83 19.85 22.47 26.67 25.27 16.23 45.61 40.82 39.05 35.36 71.48
Dividend Payout % 0% 1% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 9%
5 Years: 5%
3 Years: 2%
TTM: 70%
Compounded Profit Growth
10 Years: 17%
5 Years: 7%
3 Years: -8%
TTM: 126%
Stock Price CAGR
10 Years: 45%
5 Years: 82%
3 Years: 151%
1 Year: 663%
Return on Equity
10 Years: 6%
5 Years: 5%
3 Years: 5%
Last Year: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 123 147 189 1,021 1,113 1,177 1,244 1,694 1,886 1,971 2,108 2,301 2,381
39 117 140 209 409 644 969 495 487 389 268 232 36
77 117 96 193 270 383 720 786 919 923 1,623 1,586 1,827
Total Liabilities 242 384 427 1,426 1,794 2,207 2,936 2,978 3,295 3,286 4,001 4,121 4,248
8 8 21 856 857 858 858 1,896 2,038 1,982 1,984 2,053 2,047
CWIP 0 0 0 84 386 730 1,316 331 334 339 342 344 345
Investments 0 0 1 1 1 1 1 1 1 1 1 9 10
234 375 405 485 550 618 761 751 922 964 1,674 1,715 1,846
Total Assets 242 384 427 1,426 1,794 2,207 2,936 2,978 3,295 3,286 4,001 4,121 4,248

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-48 -79 -13 -25 156 80 279 225 145 144 121 81
27 4 -5 -85 -303 -346 -587 -77 -71 -10 27 -3
19 73 17 113 219 228 317 -133 -87 -130 -148 -76
Net Cash Flow -2 -2 -1 3 72 -38 9 15 -12 4 -0 1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 98 142 117 84 105 113 145 105 155 178 269 278
Inventory Days 2 1 1 6 0 8 3 25 0 0 15 8
Days Payable 36 47 29 46 27 31 58 84 103 70 197 156
Cash Conversion Cycle 64 96 89 44 78 90 90 46 52 108 88 130
Working Capital Days 66 98 90 69 90 95 83 17 39 82 70 100
ROCE % 13% 12% 13% 7% 5% 5% 4% 4% 7% 6% 5% 5%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
65.23% 65.23% 65.23% 65.23% 63.36% 63.36% 56.79% 22.83% 63.37% 55.01% 55.01% 55.01%
9.70% 9.70% 9.70% 9.70% 9.70% 9.70% 9.70% 9.70% 0.00% 9.70% 9.91% 9.73%
25.08% 25.08% 25.08% 25.08% 26.94% 26.94% 33.51% 67.47% 36.64% 35.30% 35.08% 35.25%
No. of Shareholders 8681,1491,6042,5233,2363,1223,0842,7462,8783,0153,0693,142

* 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.

Click on the line-items to see the names of individual entities.

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