Veto Switchgears & Cables Ltd

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

Veto Switchgears & Cables Ltd

₹ 134 -1.47%
12 Dec 3:59 p.m.
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 - BE
  • Market Cap ₹ 257 Cr.
  • Current Price ₹ 134
  • High / Low ₹ 196 / 106
  • Stock P/E 14.6
  • Book Value ₹ 134
  • Dividend Yield 0.75 %
  • ROCE 12.0 %
  • ROE 7.49 %
  • Face Value ₹ 10.0
Edit ratios

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 1.01 times its book value

Cons

  • Company has a low return on equity of 8.74% over last 3 years.
  • Dividend payout has been low at 9.88% of profits over last 3 years
  • Company has high debtors of 162 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

Sector: Capital Goods - Electrical Equipment Industry: Electric Equipment

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
75.40 71.42 78.96 59.85 75.45 71.67 84.14 66.96 71.64 82.05 79.44 61.21 74.28
65.96 59.19 71.62 50.23 64.80 64.95 77.91 59.13 61.63 73.33 75.12 54.11 65.72
Operating Profit 9.44 12.23 7.34 9.62 10.65 6.72 6.23 7.83 10.01 8.72 4.32 7.10 8.56
OPM % 12.52% 17.12% 9.30% 16.07% 14.12% 9.38% 7.40% 11.69% 13.97% 10.63% 5.44% 11.60% 11.52%
0.31 0.25 2.35 0.35 0.31 1.93 1.81 0.41 0.34 0.39 3.59 0.42 0.15
Interest 0.92 1.02 1.13 1.08 0.72 1.17 1.41 0.97 1.57 0.87 0.73 0.39 0.04
Depreciation 0.75 0.76 1.11 0.82 0.65 0.70 0.66 0.76 0.70 0.79 0.48 0.63 0.66
Profit before tax 8.08 10.70 7.45 8.07 9.59 6.78 5.97 6.51 8.08 7.45 6.70 6.50 8.01
Tax % 43.44% 24.02% 34.23% 19.58% 26.49% 30.53% 63.15% 24.88% 25.12% 34.36% 66.87% 24.92% 25.47%
4.58 8.14 4.91 6.50 7.05 4.71 2.21 4.90 6.05 4.89 2.23 4.88 5.97
EPS in Rs 2.36 4.23 2.55 3.36 3.64 2.45 1.05 2.54 3.13 2.50 1.11 2.54 3.09
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
74 94 97 177 239 253 218 150 181 267 290 300 297
63 84 82 151 214 212 197 131 158 233 257 269 268
Operating Profit 11 11 15 26 25 41 21 19 24 34 33 31 29
OPM % 15% 11% 16% 15% 11% 16% 10% 13% 13% 13% 11% 10% 10%
0 1 1 -4 2 2 0 1 2 3 5 5 5
Interest 2 2 4 5 4 3 4 4 2 4 5 4 2
Depreciation 1 1 2 2 2 2 1 2 2 3 3 3 3
Profit before tax 8 8 10 15 21 39 16 14 21 30 30 29 29
Tax % 23% 28% 27% 15% 14% 26% 27% 33% 31% 32% 33% 37%
6 6 7 13 18 29 12 9 15 20 20 18 18
EPS in Rs 3.21 3.32 3.90 7.14 10.00 15.81 6.05 4.85 7.74 10.47 10.59 9.39 9.24
Dividend Payout % 0% 0% 0% 28% 20% 13% 0% 0% 13% 10% 9% 11%
Compounded Sales Growth
10 Years: 12%
5 Years: 7%
3 Years: 18%
TTM: 1%
Compounded Profit Growth
10 Years: 11%
5 Years: 9%
3 Years: 7%
TTM: 1%
Stock Price CAGR
10 Years: %
5 Years: 30%
3 Years: 8%
1 Year: 14%
Return on Equity
10 Years: 11%
5 Years: 8%
3 Years: 9%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 17 18 18 18 18 18 19 19 19 19 19 19 19
Reserves 43 47 54 63 83 130 148 159 175 194 214 227 238
5 36 35 42 31 38 40 26 35 47 43 23 11
9 11 14 19 13 16 13 16 45 49 45 37 48
Total Liabilities 73 112 121 142 145 202 220 220 274 309 321 306 316
10 21 22 21 20 23 30 40 44 43 40 41 41
CWIP 0 0 0 3 8 7 0 3 2 3 7 9 17
Investments 0 1 0 0 0 0 0 0 0 0 0 0 0
64 90 99 118 118 171 190 177 227 263 274 256 258
Total Assets 73 112 121 142 145 202 220 220 274 309 321 306 316

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
0 -2 21 20 -25 11 31 7 -8 18 27
-26 3 -8 -12 4 -2 -11 -7 0 -2 -7
29 -5 -0 -21 21 3 -19 -3 4 -10 -27
Net Cash Flow 4 -4 14 -13 0 12 1 -4 -3 6 -8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 99 117 125 86 86 154 102 145 183 162 171 162
Inventory Days 174 138 141 100 70 86 207 314 320 231 182 156
Days Payable 53 38 58 30 15 15 17 34 92 65 52 40
Cash Conversion Cycle 220 216 208 156 140 225 292 425 411 328 300 278
Working Capital Days 200 191 240 128 129 210 260 340 349 283 270 258
ROCE % 18% 13% 13% 21% 20% 26% 10% 9% 11% 14% 13% 12%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
55.74% 55.74% 55.74% 55.74% 50.08% 50.08% 50.08% 47.15% 45.06% 45.06% 45.06% 45.06%
1.32% 1.32% 1.32% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.00% 0.09%
42.94% 42.94% 42.94% 44.25% 49.92% 49.93% 49.92% 52.86% 54.93% 54.94% 54.94% 54.86%
No. of Shareholders 16,77619,92319,67419,87519,97019,72420,50826,13125,80429,60328,57226,872

* 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

Annual reports

DRHP

Credit ratings

Concalls

  • Feb 2021
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