Virtuoso Optoelectronics Ltd
Incorporated in 2015, Virtuoso Optoelectronics Ltd is a manufacturer of White Goods and also offers Electronics Manufacturing Services[1]
- Market Cap ₹ 1,371 Cr.
- Current Price ₹ 443
- High / Low ₹ 690 / 400
- Stock P/E 155
- Book Value ₹ 115
- 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 3.84 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: -1.56%
- 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 | |
|---|---|---|---|---|---|---|---|
| 55 | 68 | 115 | 200 | 337 | 531 | 697 | |
| 52 | 60 | 103 | 180 | 304 | 480 | 641 | |
| Operating Profit | 3 | 8 | 12 | 20 | 34 | 51 | 56 |
| OPM % | 5% | 12% | 11% | 10% | 10% | 10% | 8% |
| 0 | 0 | 0 | 0 | 1 | 1 | 5 | |
| Interest | 2 | 5 | 7 | 9 | 14 | 20 | 25 |
| Depreciation | 0 | 1 | 2 | 5 | 9 | 18 | 10 |
| Profit before tax | 1 | 2 | 3 | 6 | 11 | 14 | 25 |
| Tax % | 39% | 27% | 28% | 31% | 31% | 29% | 44% |
| 1 | 1 | 2 | 4 | 8 | 10 | 14 | |
| EPS in Rs | 3.60 | 8.47 | 12.50 | 2.63 | 3.40 | 3.85 | 4.79 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 59% |
| 3 Years: | 52% |
| TTM: | 15% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 59% |
| 3 Years: | 53% |
| TTM: | -38% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 46% |
| 1 Year: | -1% |
| 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% |
Documents
Announcements
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Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot
24 Nov - Shareholders approved migration to BSE Main Board/NSE, ESOP amendments, increase in authorised capital to Rs75 crore.
-
Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
24 Nov - Postal ballot Nov 23 passed: migrate to BSE Main/NSE; ESOP amendment; authorised capital increased to Rs.75 crore.
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
20 Nov - Earning call transcript for Q2 & H1 FY 26
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
18 Nov - Investor call recording link for Q2/H1 results ended Sept 30, 2025 (call Nov 18, 2025).
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Announcement under Regulation 30 (LODR)-Investor Presentation
18 Nov - Investors presentation for the quarter and half year ended September 2025
Annual reports
Concalls
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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.