Vdeal System Ltd
Incorporated in 2009, Vdeal System Ltd manufactures and trades electrical control panel boards[1]
- Market Cap ₹ 73.4 Cr.
- Current Price ₹ 150
- High / Low ₹ 260 / 100
- Stock P/E 18.2
- Book Value ₹ 55.0
- Dividend Yield 0.00 %
- ROCE 25.6 %
- ROE 25.0 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 34.6%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has high debtors of 177 days.
- Working capital days have increased from 123 days to 256 days
* 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
Industrials Capital Goods Electrical Equipment Other Electrical Equipment
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 16.57 | 19.00 | 24.38 | 26.22 | 33.58 | 41.11 | |
| 15.23 | 17.51 | 21.91 | 20.69 | 26.66 | 34.55 | |
| Operating Profit | 1.34 | 1.49 | 2.47 | 5.53 | 6.92 | 6.56 |
| OPM % | 8.09% | 7.84% | 10.13% | 21.09% | 20.61% | 15.96% |
| 0.05 | 0.05 | 0.03 | 0.03 | 0.02 | 0.15 | |
| Interest | 0.72 | 0.75 | 0.83 | 1.10 | 1.31 | 1.09 |
| Depreciation | 0.36 | 0.48 | 0.19 | 0.20 | 0.30 | 0.29 |
| Profit before tax | 0.31 | 0.31 | 1.48 | 4.26 | 5.33 | 5.33 |
| Tax % | 29.03% | 25.81% | 25.68% | 27.00% | 25.14% | |
| 0.23 | 0.23 | 1.10 | 3.11 | 3.99 | 4.02 | |
| EPS in Rs | 77.18 | 77.18 | 369.13 | 9.49 | 8.16 | 8.22 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 21% |
| TTM: | 49% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 159% |
| TTM: | 21% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 41% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 31% |
| 3 Years: | 35% |
| Last Year: | 25% |
Balance Sheet
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.30 | 0.30 | 0.30 | 3.28 | 4.89 | 4.89 |
| Reserves | 1.79 | 2.02 | 3.12 | 3.01 | 20.75 | 22.03 |
| 6.28 | 6.42 | 6.23 | 9.41 | 10.64 | 10.29 | |
| 3.21 | 2.68 | 5.80 | 11.58 | 12.64 | 12.05 | |
| Total Liabilities | 11.58 | 11.42 | 15.45 | 27.28 | 48.92 | 49.26 |
| 3.03 | 2.72 | 2.83 | 2.77 | 3.75 | 3.69 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 8.55 | 8.70 | 12.62 | 24.51 | 45.17 | 45.57 | |
| Total Assets | 11.58 | 11.42 | 15.45 | 27.28 | 48.92 | 49.26 |
Cash Flows
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 1.37 | -0.12 | 1.12 | 1.35 | -13.73 | |
| -1.06 | -0.11 | -0.08 | -3.63 | -1.31 | |
| -0.13 | -0.53 | -0.94 | 2.24 | 15.28 | |
| Net Cash Flow | 0.18 | -0.76 | 0.09 | -0.04 | 0.24 |
Ratios
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 79.74 | 64.74 | 89.53 | 221.06 | 177.39 |
| Inventory Days | 107.96 | 138.75 | 137.98 | 173.60 | 410.46 |
| Days Payable | 104.87 | 75.22 | 122.46 | 201.81 | 180.15 |
| Cash Conversion Cycle | 82.83 | 128.27 | 105.04 | 192.85 | 407.70 |
| Working Capital Days | -8.15 | 24.78 | 17.67 | 94.66 | 255.98 |
| ROCE % | 12.39% | 25.12% | 42.29% | 25.55% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2025 | |
|---|---|---|---|---|
| Actual Production Value - Automation Panels INR Crores |
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| Actual Production Value - LV Electrical Control Panels INR Crores |
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| Installed Capacity - Automation Panels INR Crores |
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| Installed Capacity - LV Electrical Control Panels INR Crores |
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| Manufacturing Sales Concentration Percentage |
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| Top 10 Customers Revenue Contribution Percentage |
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| Target Domestic Market Share (by 2028) Percentage |
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| Total Factory Area Sq. ft. |
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| Total Headcount Number |
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Documents
Announcements
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Bagging/Receiving of orders/contracts
11 March 2026 - New Hindalco order for power distribution system ₹1,799,500; delivery by 30-Apr-2026.
-
Bagging/Receiving of orders/contracts
3 March 2026 - Order from NALCO for power distribution system worth ₹872,610; delivery 02-Mar-2026 to 15-Jun-2026.
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Bagging/Receiving of orders/contracts
26 February 2026 - Awarded domestic order worth ₹3,000,000 by EVOS for power distribution system; delivery by 31-Mar-2026.
-
Appointment
10 February 2026 - EGM approved BAPS Associates as statutory auditor till ensuing AGM; Ullas Pradhan regularized as independent director from Nov 12, 2025.
-
Shareholders meeting
10 February 2026 - 10 Feb 2026 EGM: appointment of B A P S & Associates auditor; regularized Ullas Pradhan as independent director.
Business Overview:[1]
VDSL is an ISO 9001:2008 Certified company, registered under NSIC, DIC, and MSME. It is a solution provider in the field of Electrical Panels, Industrial Automation, Process Instrumentation & Industrial IoT (I-4). The company is also a Premium System Integrator