Veto Switchgears & Cables Ltd

  • Market Cap: 85.06 Cr.
  • Current Price: 44.50
  • 52 weeks High / Low 82.60 / 33.20
  • Book Value: 76.66
  • Stock P/E: 13.07
  • Dividend Yield: 0.00 %
  • ROCE: 10.63 %
  • ROE: 7.45 %
  • Sales Growth (3Yrs): -0.95 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 10.00
Pros:
Company has reduced debt.
Stock is trading at 0.58 times its book value
Cons:
The company has delivered a poor growth of 2.89% over past five years.
Company has a low return on equity of 13.51% for last 3 years.
Company has high debtors of 153.47 days.
Promoter holding has decreased by -3.97% over last 3 years.

Peer Comparison Sector: Capital Goods - Electrical Equipment // Industry: Electric Equipment

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
24.47 33.15 22.10 27.47 30.30 43.26 24.12 25.08 29.03 30.69 25.62 29.09
22.05 28.68 17.37 19.23 24.11 34.38 18.76 24.04 27.00 27.00 22.05 25.71
Operating Profit 2.42 4.47 4.73 8.24 6.19 8.88 5.36 1.04 2.03 3.69 3.57 3.38
OPM % 9.89% 13.48% 21.40% 30.00% 20.43% 20.53% 22.22% 4.15% 6.99% 12.02% 13.93% 11.62%
Other Income 2.78 1.01 0.84 3.03 1.18 1.00 2.42 3.02 -0.06 1.25 1.15 1.72
Interest 1.08 0.89 0.78 0.36 0.67 0.93 0.85 0.94 0.94 1.15 1.04 1.05
Depreciation 0.42 0.43 0.37 0.39 0.36 0.37 0.29 0.30 0.30 0.41 0.37 0.36
Profit before tax 3.70 4.16 4.42 10.52 6.34 8.58 6.64 2.82 0.73 3.38 3.31 3.69
Tax % 15.41% 20.43% 19.91% 33.94% 34.54% 37.30% 22.59% 1.77% 95.89% 59.17% 29.31% 25.47%
Net Profit 3.13 3.30 3.55 6.95 4.16 5.39 5.15 2.77 0.04 1.38 2.34 2.75
EPS in Rs 1.72 1.80 1.94 3.80 2.27 2.88 2.71 1.46 0.02 0.73 1.23 1.44
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
24.97 38.97 47.00 53.21 68.60 74.14 94.48 97.30 112.09 120.34 123.13 108.93 114.43
21.94 34.72 41.29 46.12 57.52 63.05 83.66 82.12 92.22 104.67 95.08 96.82 101.76
Operating Profit 3.03 4.25 5.71 7.09 11.08 11.09 10.82 15.18 19.87 15.67 28.05 12.11 12.67
OPM % 12.13% 10.91% 12.15% 13.32% 16.15% 14.96% 11.45% 15.60% 17.73% 13.02% 22.78% 11.12% 11.07%
Other Income 0.01 0.04 0.08 0.04 0.10 0.04 0.87 0.54 -3.41 5.36 6.04 6.64 4.06
Interest 0.11 0.84 0.81 1.29 2.58 2.45 2.05 3.95 4.55 4.10 2.74 3.87 4.18
Depreciation 0.51 0.76 0.88 0.90 1.06 1.06 1.20 2.01 1.97 1.66 1.48 1.30 1.44
Profit before tax 2.42 2.69 4.10 4.94 7.54 7.62 8.44 9.76 9.94 15.27 29.87 13.58 11.11
Tax % 11.98% 7.43% -6.10% 1.42% 4.24% 22.83% 27.73% 26.74% 23.04% 19.52% 32.91% 31.30%
Net Profit 2.13 2.49 4.35 4.87 7.22 5.88 6.09 7.15 7.66 12.28 20.04 9.33 6.51
EPS in Rs 3.21 3.32 3.90 3.77 6.70 10.94 4.88 3.42
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 47.86% 29.85% 18.29% 0.00%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:10.83%
5 Years:2.89%
3 Years:-0.95%
TTM:-6.79%
Compounded Profit Growth
10 Years:14.12%
5 Years:8.94%
3 Years:-5.31%
TTM:-62.74%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:-32.81%
1 Year:-26.51%
Return on Equity
10 Years:14.48%
5 Years:13.18%
3 Years:13.51%
Last Year:7.45%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
2.54 2.69 5.00 5.33 5.38 16.66 18.33 18.33 18.33 18.33 18.33 19.11 19.12
Reserves 2.13 4.62 8.97 14.50 21.72 42.79 47.21 54.34 57.33 72.08 90.66 122.32 127.42
Borrowings 18.99 23.25 23.84 19.99 20.37 4.52 35.73 34.82 42.27 30.90 37.66 40.16 23.72
3.72 5.99 4.84 6.08 8.88 9.43 10.82 13.61 18.47 12.54 33.61 11.81 14.44
Total Liabilities 27.38 36.55 42.65 45.90 56.35 73.40 112.09 121.10 136.40 133.85 180.26 193.40 184.70
5.38 5.81 7.36 7.00 7.71 7.98 19.71 19.85 18.97 17.91 17.59 25.12 24.39
CWIP 0.00 0.98 0.00 0.02 0.00 0.00 0.00 0.01 2.10 5.03 7.32 0.26 0.52
Investments 0.00 0.00 0.10 0.10 0.11 0.11 1.04 0.60 2.22 1.93 1.93 1.92 1.92
22.00 29.76 35.19 38.78 48.53 65.31 91.34 100.64 113.11 108.98 153.42 166.10 157.87
Total Assets 27.38 36.55 42.65 45.90 56.35 73.40 112.09 121.10 136.40 133.85 180.26 193.40 184.70

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-12.06 -1.84 0.73 6.13 3.61 0.05 0.37 -2.24 18.58 21.85 -0.79 2.49
-5.99 -2.19 -3.44 -1.24 -1.71 -9.32 -25.68 3.37 -18.19 -1.29 -19.96 5.18
20.70 3.48 2.09 -4.29 -2.18 8.88 29.15 -4.79 -0.05 -20.68 20.94 2.59
Net Cash Flow 2.65 -0.55 -0.62 0.60 -0.28 -0.39 3.84 -3.66 0.34 -0.12 0.19 10.26

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 13.02% 14.36% 16.05% 23.14% 18.50% 12.68% 12.85% 16.57% 16.16% 24.31% 10.63%
Debtor Days 113.58 119.51 95.52 108.93 108.54 99.15 117.02 125.29 130.84 127.54 159.96 153.47
Inventory Turnover 4.04 3.70 3.91 4.28 3.51 3.77 3.83 3.82 3.57 3.20 2.14

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