Veto Switchgears & Cables Ltd

Veto Switchgears & Cables Ltd

₹ 135 9.34%
18 Apr - close price
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

  • Market Cap 259 Cr.
  • Current Price 135
  • High / Low 156 / 84.0
  • Stock P/E 14.7
  • Book Value 128
  • Dividend Yield 0.74 %
  • ROCE 13.1 %
  • ROE 9.09 %
  • Face Value 10.0

Pros

  • Stock is trading at 1.06 times its book value

Cons

  • Promoter holding has decreased over last quarter: -2.09%
  • Company has a low return on equity of 8.99% over last 3 years.
  • Company has high debtors of 174 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
51.20 64.82 42.05 75.40 71.42 78.96 59.85 75.45 71.67 84.14 66.96 71.64 82.05
42.43 57.57 37.14 65.96 59.19 71.62 50.23 64.80 64.95 77.91 59.13 61.63 73.33
Operating Profit 8.77 7.25 4.91 9.44 12.23 7.34 9.62 10.65 6.72 6.23 7.83 10.01 8.72
OPM % 17.13% 11.18% 11.68% 12.52% 17.12% 9.30% 16.07% 14.12% 9.38% 7.40% 11.69% 13.97% 10.63%
0.24 0.86 0.25 0.31 0.25 2.35 0.35 0.31 1.93 1.81 0.41 0.34 0.39
Interest 0.31 0.68 0.89 0.92 1.02 1.13 1.08 0.72 1.17 1.41 0.97 1.57 0.87
Depreciation 0.48 0.55 0.73 0.75 0.76 1.11 0.82 0.65 0.70 0.66 0.76 0.70 0.79
Profit before tax 8.22 6.88 3.54 8.08 10.70 7.45 8.07 9.59 6.78 5.97 6.51 8.08 7.45
Tax % 27.37% 33.14% 27.68% 43.44% 24.02% 34.23% 19.58% 26.49% 30.53% 63.15% 24.88% 25.12% 34.36%
5.97 4.59 2.57 4.58 8.14 4.91 6.50 7.05 4.71 2.21 4.90 6.05 4.89
EPS in Rs 3.12 2.38 1.33 2.36 4.23 2.55 3.36 3.64 2.45 1.05 2.54 3.13 2.50
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
69 74 94 97 177 239 253 218 150 181 267 291 305
58 63 84 82 151 214 212 197 131 158 233 257 272
Operating Profit 11 11 11 15 26 25 41 21 19 24 34 34 33
OPM % 16% 15% 11% 16% 15% 11% 16% 10% 13% 13% 13% 12% 11%
0 0 1 1 -4 2 2 0 1 2 3 4 3
Interest 3 2 2 4 5 4 3 4 4 2 4 5 5
Depreciation 1 1 1 2 2 2 2 1 2 2 3 3 3
Profit before tax 8 8 8 10 15 21 39 16 14 21 30 30 28
Tax % 4% 23% 28% 27% 15% 14% 26% 27% 33% 31% 32% 33%
7 6 6 7 13 18 29 12 9 15 20 20 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 9.22
Dividend Payout % -0% -0% -0% -0% 28% 20% 13% -0% -0% 13% 10% 9%
Compounded Sales Growth
10 Years: 15%
5 Years: 3%
3 Years: 25%
TTM: 7%
Compounded Profit Growth
10 Years: 13%
5 Years: -7%
3 Years: 30%
TTM: -23%
Stock Price CAGR
10 Years: %
5 Years: 14%
3 Years: 2%
1 Year: 60%
Return on Equity
10 Years: 11%
5 Years: 8%
3 Years: 9%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 5 17 18 18 18 18 18 19 19 19 19 19 19
Reserves 22 43 47 54 63 83 111 148 159 175 194 214 225
20 5 36 35 42 31 38 40 26 35 47 43 48
9 9 11 14 19 13 35 13 16 45 49 45 48
Total Liabilities 56 73 112 121 142 145 202 220 220 274 309 321 340
10 10 21 22 21 20 23 30 40 44 43 40 39
CWIP -0 -0 -0 0 3 8 7 0 3 2 3 7 8
Investments -0 0 1 0 0 0 0 0 0 0 0 0 0
47 64 90 99 118 118 171 190 177 227 263 274 293
Total Assets 56 73 112 121 142 145 202 220 220 274 309 321 340

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
3 0 -2 21 20 -25 11 31 7 -8 18
-2 -26 3 -8 -12 4 -2 -11 -7 0 -2
-2 29 -5 -0 -21 21 3 -19 -3 4 -10
Net Cash Flow -0 4 -4 14 -13 0 12 1 -4 -3 6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 109 99 117 125 86 86 154 102 145 183 162 174
Inventory Days 137 174 138 141 100 70 86 207 314 320 231 182
Days Payable 42 53 38 58 30 15 15 17 34 92 65 45
Cash Conversion Cycle 204 220 216 208 156 140 225 292 425 411 328 310
Working Capital Days 165 200 191 240 128 129 210 260 340 349 283 270
ROCE % 23% 18% 13% 13% 21% 20% 28% 11% 9% 11% 14% 13%

Shareholding Pattern

Numbers in percentages

20 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
55.74% 55.74% 55.74% 55.74% 55.74% 55.74% 50.08% 50.08% 50.08% 47.15% 45.06% 45.06%
4.95% 2.28% 1.32% 1.32% 1.32% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01%
39.31% 41.98% 42.94% 42.94% 42.94% 44.25% 49.92% 49.93% 49.92% 52.86% 54.93% 54.94%
No. of Shareholders 10,18017,66716,77619,92319,67419,87519,97019,72420,50826,13125,80429,603

* 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.

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