Veritas (India) Ltd

Veritas (India) Ltd

₹ 1,169 -2.00%
12 Jul - 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
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]

  • Market Cap 3,134 Cr.
  • Current Price 1,169
  • High / Low 1,588 / 202
  • Stock P/E 16.8
  • Book Value 936
  • Dividend Yield 0.00 %
  • ROCE 8.47 %
  • ROE 7.76 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 33.5% CAGR over last 5 years
  • Debtor days have improved from 235 to 157 days.

Cons

  • Tax rate seems low
  • Company has a low return on equity of 5.80% over last 3 years.
  • Company has high debtors of 157 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

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
426 334 827 459 512 392 540 572 659 495 941 1,324 1,095
384 287 780 432 476 366 503 533 618 453 884 1,269 1,044
Operating Profit 42 46 47 27 36 26 37 39 41 42 57 55 51
OPM % 10% 14% 6% 6% 7% 7% 7% 7% 6% 8% 6% 4% 5%
2 1 0 2 -2 3 0 1 0 0 0 56 0
Interest 5 6 5 2 6 4 4 6 4 8 6 6 11
Depreciation 8 8 8 8 8 8 9 9 9 9 9 9 16
Profit before tax 30 34 34 18 19 17 24 25 29 25 42 96 24
Tax % 5% 0% 0% 3% 2% -0% 2% 1% 0% 0% 1% 1% 1%
29 34 34 18 19 17 24 25 29 25 42 96 24
EPS in Rs 10.68 12.54 12.79 6.64 7.09 6.31 8.88 9.33 10.84 9.38 15.52 35.73 9.06
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
914 1,202 1,503 1,456 1,648 1,679 1,876 2,037 1,876 2,131 2,163 3,855
888 1,166 1,446 1,388 1,567 1,601 1,765 1,899 1,714 1,975 2,021 3,650
Operating Profit 26 36 57 68 82 78 110 138 163 157 142 205
OPM % 3% 3% 4% 5% 5% 5% 6% 7% 9% 7% 7% 5%
0 3 0 -0 2 1 12 49 4 0 5 57
Interest 5 6 6 6 9 7 51 35 24 19 17 31
Depreciation 1 1 1 1 1 1 25 30 32 32 34 43
Profit before tax 21 33 50 61 73 71 46 122 111 106 96 188
Tax % 8% 5% 4% 2% 2% 5% 6% 0% 1% 1% 1% 1%
19 31 48 60 71 68 44 122 109 105 95 187
EPS in Rs 7.96 12.83 19.85 22.47 26.67 25.27 16.23 45.61 40.82 39.05 35.36 69.69
Dividend Payout % 1% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 12%
5 Years: 15%
3 Years: 27%
TTM: 78%
Compounded Profit Growth
10 Years: 20%
5 Years: 34%
3 Years: 20%
TTM: 97%
Stock Price CAGR
10 Years: 43%
5 Years: 84%
3 Years: 97%
1 Year: 468%
Return on Equity
10 Years: 6%
5 Years: 6%
3 Years: 6%
Last Year: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 2 2 2 3 3 3 3 3 3 3 3 3
Reserves 147 189 1,021 1,113 1,177 1,244 1,694 1,886 1,971 2,108 2,301 2,507
117 140 209 409 644 969 495 487 389 268 232 128
117 96 193 270 383 720 786 919 923 1,623 1,586 1,544
Total Liabilities 384 427 1,426 1,794 2,207 2,936 2,978 3,295 3,286 4,001 4,121 4,183
8 21 856 857 858 858 1,896 2,038 1,982 1,984 2,053 2,052
CWIP 0 0 84 386 730 1,316 331 334 339 342 344 349
Investments 0 1 1 1 1 1 1 1 1 1 9 10
375 405 485 550 618 761 751 922 964 1,674 1,715 1,772
Total Assets 384 427 1,426 1,794 2,207 2,936 2,978 3,295 3,286 4,001 4,121 4,183

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-79 -13 -25 156 80 279 225 145 144 121 81 56
4 -5 -85 -303 -346 -587 -77 -71 -10 27 -3 -32
73 17 113 219 228 317 -133 -87 -130 -148 -76 -13
Net Cash Flow -2 -1 3 72 -38 9 15 -12 4 -0 1 11

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 142 117 84 105 113 145 105 155 178 269 278 157
Inventory Days 1 1 6 0 8 3 25 0 0 15 8 4
Days Payable 47 29 46 27 31 58 84 103 70 197 156 15
Cash Conversion Cycle 96 89 44 78 90 90 46 52 108 88 130 146
Working Capital Days 98 90 69 90 95 83 17 39 82 70 100 128
ROCE % 12% 13% 7% 5% 5% 4% 4% 7% 6% 5% 5% 8%

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.

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

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