Veto Switchgears & Cables Ltd

Veto Switchgears Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Veto Switchgears & Cables Ltd

₹ 128 0.84%
04 Jul - close price
vetoswitchgears.com BSE: 539331 NSE: VETO
About

Incorporated in 2007, Veto Switchgears
& Cables Ltd manufactures wires & cables, electrical accessories & also deals in LED
lighting, CFL & Fans[1]

Key Points

Business Overview:[1]
VSCL is a flagship company of Gurnani Group. It is ISO 9001:2008 Certified, the first company to produce ISI-mark electrical accessories in India, and manufactures all types of cables and housing wires. It sells products under the brand name of Veto and Vimal Power

Website BSE NSE
  • Market Cap ₹ 245 Cr.
  • Current Price ₹ 128
  • High / Low ₹ 196 / 92.5
  • Stock P/E 11.4
  • Book Value ₹ 135
  • Dividend Yield 0.78 %
  • ROCE 11.0 %
  • ROE 8.64 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Stock is trading at 0.95 times its book value

Cons

  • Company has a low return on equity of 11.1% over last 3 years.
  • Dividend payout has been low at 7.84% of profits over last 3 years
  • Company has high debtors of 167 days.
  • Promoter holding has decreased over last 3 years: -10.7%

* 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

Consumer Discretionary Consumer Durables Consumer Durables Consumer Electronics

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
54.06 36.61 52.09 47.51 59.85 41.63 51.31 54.96 61.66 41.74 52.98 54.12 67.19
47.02 32.36 44.87 40.50 54.41 36.31 43.79 48.27 56.83 36.49 46.48 50.28 57.88
Operating Profit 7.04 4.25 7.22 7.01 5.44 5.32 7.52 6.69 4.83 5.25 6.50 3.84 9.31
OPM % 13.02% 11.61% 13.86% 14.75% 9.09% 12.78% 14.66% 12.17% 7.83% 12.58% 12.27% 7.10% 13.86%
0.89 1.34 1.02 1.06 9.47 0.84 1.11 0.88 17.77 1.25 1.35 2.35 1.67
Interest 0.81 0.70 0.65 0.96 1.09 0.69 0.97 0.44 0.49 0.26 0.06 0.33 0.60
Depreciation 0.84 0.66 0.54 0.58 0.55 0.61 0.55 0.64 0.33 0.52 0.55 0.72 0.64
Profit before tax 6.28 4.23 7.05 6.53 13.27 4.86 7.11 6.49 21.78 5.72 7.24 5.14 9.74
Tax % 33.60% 25.06% 24.82% 28.02% 26.98% 24.49% 25.60% 35.13% 20.48% 24.65% 25.14% 25.29% 18.48%
4.18 3.18 5.29 4.69 9.68 3.66 5.29 4.20 17.32 4.31 5.42 3.84 7.95
EPS in Rs 2.19 1.66 2.77 2.45 5.06 1.91 2.77 2.20 9.06 2.25 2.84 2.01 4.16
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
94 97 112 120 123 109 121 153 174 196 210 216
84 82 92 105 95 97 105 129 147 172 185 191
Operating Profit 11 15 20 16 28 12 16 23 26 24 24 25
OPM % 11% 16% 18% 13% 23% 11% 13% 15% 15% 12% 12% 12%
1 1 -3 5 6 6 6 3 10 13 21 7
Interest 2 4 5 4 3 4 4 2 3 4 3 1
Depreciation 1 2 2 2 1 1 2 2 3 2 2 2
Profit before tax 8 10 10 15 30 14 16 22 31 31 40 28
Tax % 28% 27% 23% 20% 33% 31% 30% 28% 26% 27% 24% 23%
6 7 8 12 20 9 11 16 23 23 30 22
EPS in Rs 3.32 3.90 4.18 6.70 10.93 4.88 5.79 8.43 11.83 11.95 15.95 11.26
Dividend Payout % 0% 0% 48% 30% 18% 0% 0% 12% 8% 8% 6% 9%
Compounded Sales Growth
10 Years: 8%
5 Years: 12%
3 Years: 8%
TTM: 3%
Compounded Profit Growth
10 Years: 12%
5 Years: 14%
3 Years: -2%
TTM: -29%
Stock Price CAGR
10 Years: 4%
5 Years: 21%
3 Years: 16%
1 Year: -8%
Return on Equity
10 Years: 11%
5 Years: 11%
3 Years: 11%
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 18 18 18 18 18 19 19 19 19 19 19 19
Reserves 47 54 57 72 110 122 133 150 170 191 220 240
36 35 42 31 38 40 26 34 38 28 13 17
11 14 18 13 14 12 15 22 23 23 21 26
Total Liabilities 112 121 136 134 180 193 194 224 251 261 274 301
20 20 19 18 18 25 26 27 26 24 25 19
CWIP 0 0 2 5 7 0 2 0 0 0 0 13
Investments 1 1 2 2 2 2 13 39 39 39 27 27
91 101 113 109 153 166 153 158 186 198 222 242
Total Assets 112 121 136 134 180 193 194 224 251 261 274 301

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
0 -2 19 22 -1 2 11 3 1 5 5 16
-26 3 -18 -1 -20 5 2 -14 0 12 18 -23
29 -5 -0 -21 21 3 -19 7 -3 -16 -19 1
Net Cash Flow 4 -4 0 -0 0 10 -6 -4 -1 1 3 -7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 117 125 131 128 160 155 148 149 156 159 161 167
Inventory Days 138 141 175 149 206 288 265 230 214 176 169 162
Days Payable 38 58 53 36 34 38 42 45 30 33 30 38
Cash Conversion Cycle 216 208 253 241 331 405 372 334 340 302 300 291
Working Capital Days 191 240 178 196 263 317 292 279 281 267 270 267
ROCE % 13% 13% 17% 16% 23% 10% 11% 13% 16% 15% 17% 11%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
55.74% 55.74% 50.08% 50.08% 50.08% 47.15% 45.06% 45.06% 45.06% 45.06% 45.06% 45.06%
1.32% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.00% 0.09% 0.01% 0.42%
42.94% 44.25% 49.92% 49.93% 49.92% 52.86% 54.93% 54.94% 54.94% 54.86% 54.94% 54.53%
No. of Shareholders 19,67419,87519,97019,72420,50826,13125,80429,60328,57226,87226,14425,578

* 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.

Documents

Announcements

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DRHP

Credit ratings

Concalls

  • Feb 2021
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