Virtuoso Optoelectronics Ltd
Incorporated in 2015, Virtuoso Optoelectronics Ltd is a manufacturer of White Goods and also offers Electronics Manufacturing Services[1]
- Market Cap ₹ 1,074 Cr.
- Current Price ₹ 337
- High / Low ₹ 623 / 312
- Stock P/E 84.0
- Book Value ₹ 113
- Dividend Yield 0.00 %
- ROCE 12.6 %
- ROE 5.75 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 58.6% CAGR over last 5 years
- Company's working capital requirements have reduced from 26.3 days to 20.0 days
Cons
- Stock is trading at 2.98 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -2.39%
- Company has a low return on equity of 7.04% over last 3 years.
* 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 55 | 68 | 115 | 200 | 337 | 531 | 697 | 743 | |
| 52 | 60 | 103 | 180 | 304 | 480 | 641 | 672 | |
| Operating Profit | 3 | 8 | 12 | 20 | 34 | 51 | 56 | 72 |
| OPM % | 5% | 12% | 11% | 10% | 10% | 10% | 8% | 10% |
| 0 | 0 | 0 | 0 | 1 | 1 | 5 | 3 | |
| Interest | 2 | 5 | 7 | 9 | 14 | 20 | 25 | 31 |
| Depreciation | 0 | 1 | 2 | 5 | 9 | 18 | 10 | 17 |
| Profit before tax | 1 | 2 | 3 | 6 | 11 | 14 | 25 | 26 |
| Tax % | 39% | 27% | 28% | 31% | 31% | 29% | 44% | |
| 1 | 1 | 2 | 4 | 8 | 10 | 14 | 13 | |
| EPS in Rs | 3.60 | 8.47 | 12.50 | 2.63 | 3.40 | 3.85 | 4.79 | 4.25 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 59% |
| 3 Years: | 52% |
| TTM: | 31% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 59% |
| 3 Years: | 53% |
| TTM: | 39% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 25% |
| 1 Year: | -42% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 8% |
| 3 Years: | 7% |
| Last Year: | 6% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 15 | 23 | 26 | 29 | 30 |
| Reserves | 3 | 10 | 15 | 6 | 71 | 183 | 252 | 320 |
| 17 | 39 | 51 | 68 | 88 | 135 | 171 | 202 | |
| 5 | 7 | 12 | 36 | 95 | 111 | 157 | 137 | |
| Total Liabilities | 26 | 57 | 80 | 126 | 276 | 455 | 611 | 689 |
| 5 | 11 | 18 | 50 | 88 | 130 | 201 | 279 | |
| CWIP | 0 | 8 | 9 | 0 | 6 | 7 | 48 | 46 |
| Investments | 0 | 0 | 0 | 1 | 10 | 100 | 42 | 26 |
| 21 | 38 | 53 | 74 | 172 | 218 | 319 | 338 | |
| Total Assets | 26 | 57 | 80 | 126 | 276 | 455 | 611 | 689 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 2 | -6 | 1 | 22 | -10 | 14 | 32 | |
| -5 | -16 | -10 | -30 | -63 | -150 | -92 | |
| 3 | 21 | 8 | 9 | 72 | 136 | 63 | |
| Net Cash Flow | 1 | -1 | -0 | 1 | -0 | -0 | 2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 75 | 106 | 34 | 16 | 28 | 15 | 16 |
| Inventory Days | 53 | 94 | 137 | 134 | 182 | 138 | 135 |
| Days Payable | 34 | 43 | 37 | 64 | 114 | 82 | 83 |
| Cash Conversion Cycle | 95 | 157 | 134 | 86 | 96 | 70 | 67 |
| Working Capital Days | 33 | 34 | 37 | -2 | 35 | 24 | 20 |
| ROCE % | 19% | 18% | 19% | 18% | 13% | 13% |
Insights
In beta| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Mar 2027 | |
|---|---|---|---|---|---|---|---|---|
| Air Conditioners (IDU & ODU Sets) Installed Capacity Units per Annum |
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| EMS Category (LED, PCBA, Controller) Capacity Units per Annum |
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| Number of Manufacturing Facilities Count |
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| Water Dispenser Installed Capacity Units per Annum |
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| Compressors Installed Capacity Units per Annum |
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| Deep Freezers Installed Capacity Units per Annum |
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| EMS Category (LED, PCBA, Controller) Capacity cph |
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| Revenue Share from AC Segment % |
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| Washing Machine Installed Capacity Units per Annum |
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| Compressor Capacity Utilization % |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
6 Mar - Virtual one-on-one meeting with PMS Fund on March 10, 2026 at 03:00 PM.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
25 Feb - The management of the Company will be participating in the Arihant Capital (Broking) Virtual Conference
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
12 Feb - Management of the Company will be interacting with analysts / investors in the form of One-on-One meeting with Everflow Partners
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
12 Feb - Feb 18, 2026 physical group investor conference in Mumbai with Dolat Capital.
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
12 Feb - Monitoring report: Rs140 crore preferential warrants to Malabar India Fund; Rs85 crore received/used as of Dec 31, 2025.
Annual reports
Concalls
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT REC
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Jun 2025Transcript PPT
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Nov 2024Transcript PPT
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Jun 2024Transcript PPT
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Nov 2023Transcript PPT
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Jun 2023Transcript PPT
Business Overview:[1][2]
VOEPL, promoted by the Bharti family, is an OEM/ODM specializing in white goods and electronic items. The company manufactures, sells, and markets consumer electronics like air conditioners, water heaters, and lighting while also offering electronics manufacturing services (EMS) and related products.