Virtuoso Optoelectronics Ltd
Incorporated in 2015, Virtuoso Optoelectronics Limited manufactures consumer durable goods, assembles a wide array of products, and provides end-to-end product solutions. Over the last few years, VOEPL has established itself as a strong OEM/ODM in the manufacturing industry for white goods & electronic items, especially air conditioners. [1]
- Market Cap ₹ 577 Cr.
- Current Price ₹ 253
- High / Low ₹ 339 / 170
- Stock P/E 74.3
- Book Value ₹ 42.6
- Dividend Yield 0.00 %
- ROCE 18.4 %
- ROE 13.5 %
- Face Value ₹ 10.0
Pros
Cons
- 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: -8.72%
* 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: Consumer Durables Industry: Domestic Appliances
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| 55 | 68 | 115 | 200 | 337 | |
| 52 | 60 | 103 | 180 | 304 | |
| Operating Profit | 3 | 8 | 12 | 20 | 34 |
| OPM % | 5% | 12% | 11% | 10% | 10% |
| 0 | 0 | 0 | 0 | 1 | |
| Interest | 2 | 5 | 7 | 9 | 14 |
| Depreciation | 0 | 1 | 2 | 5 | 9 |
| Profit before tax | 1 | 2 | 3 | 6 | 11 |
| Tax % | 39% | 27% | 28% | 31% | 31% |
| 1 | 1 | 2 | 4 | 8 | |
| EPS in Rs | 3.60 | 8.47 | 12.50 | 2.63 | 3.40 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 70% |
| TTM: | 68% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 77% |
| TTM: | 97% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 14% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 15% |
| Last Year: | 14% |
Balance Sheet
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 15 | 23 | 23 |
| Reserves | 3 | 10 | 15 | 6 | 71 | 74 |
| 17 | 39 | 51 | 68 | 88 | 112 | |
| 5 | 7 | 12 | 36 | 95 | 101 | |
| Total Liabilities | 26 | 57 | 80 | 126 | 276 | 310 |
| 5 | 11 | 18 | 50 | 88 | 85 | |
| CWIP | 0 | 8 | 9 | 0 | 6 | 31 |
| Investments | 0 | 0 | 0 | 1 | 10 | 8 |
| 21 | 38 | 53 | 74 | 172 | 187 | |
| Total Assets | 26 | 57 | 80 | 126 | 276 | 310 |
Cash Flows
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| 2 | -6 | 1 | 22 | -10 | |
| -5 | -16 | -10 | -30 | -63 | |
| 3 | 21 | 8 | 9 | 72 | |
| Net Cash Flow | 1 | -1 | -0 | 1 | -0 |
Ratios
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| Debtor Days | 75 | 106 | 34 | 16 | 28 |
| Inventory Days | 53 | 94 | 137 | 134 | 172 |
| Days Payable | 34 | 43 | 37 | 64 | 108 |
| Cash Conversion Cycle | 95 | 157 | 134 | 86 | 93 |
| Working Capital Days | 100 | 151 | 130 | 70 | 86 |
| ROCE % | 19% | 18% | 19% | 18% |
Documents
Announcements
- Certificate Under Regulation 40 (9) Of SEBI (LODR) Regulations, 2015 For The Year Ended March 31, 2024. 19 Apr
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 8 Apr
- Shareholder Meeting / Postal Ballot-Outcome of AGM 8 Apr
- Non-Applicability Of Disclosure Of Related Party Transactions As Per Regulation 23 (9) Of SEBI (LODR) Regulations, 2015. 4 Apr
- Compliances-Reg.24(A)-Annual Secretarial Compliance 4 Apr
Concalls
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Nov 2023Transcript PPT
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Jun 2023Transcript PPT
Business Models[1] Virtuoso Optoelectronics Limited serves under both original equipment manufacturer ("OEM") and original design manufacturer ("ODM") business models.
Under the OEM model, the company manufactures and supplies products basis designs developed by its customers.
Under the ODM model, the company conceptualizes and designs the products.
The Air Conditioner Manufacturing (~80% revenue share) includes both Indoor Unit(IDU) and Outdoor Unit (ODU) while LED Lighting (~20% revenue share) comprises of LED Lamps, LED Street Lights and LED Down Lights and Panels