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 1.81%
22 Nov - 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 - BE
  • Market Cap ₹ 245 Cr.
  • Current Price ₹ 128
  • High / Low ₹ 196 / 106
  • Stock P/E 7.83
  • Book Value ₹ 130
  • Dividend Yield 0.78 %
  • ROCE 17.5 %
  • ROE 13.6 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.98 times its book value
  • Company has delivered good profit growth of 26.7% CAGR over last 5 years

Cons

  • Company has a low return on equity of 12.6% over last 3 years.
  • Earnings include an other income of Rs.21.2 Cr.
  • Company has high debtors of 161 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

Standalone Figures in Rs. Crores / View Consolidated

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
49.71 46.48 54.06 36.61 52.09 47.51 59.85 41.63 51.31 54.96 61.66 41.74 52.98
43.38 37.29 47.02 32.36 44.87 40.50 54.41 36.31 43.79 48.27 56.83 36.49 46.48
Operating Profit 6.33 9.19 7.04 4.25 7.22 7.01 5.44 5.32 7.52 6.69 4.83 5.25 6.50
OPM % 12.73% 19.77% 13.02% 11.61% 13.86% 14.75% 9.09% 12.78% 14.66% 12.17% 7.83% 12.58% 12.27%
8.00 0.70 0.89 1.34 1.02 1.06 9.47 0.84 1.11 0.88 17.77 1.25 1.35
Interest 0.77 0.78 0.81 0.70 0.65 0.96 1.09 0.69 0.97 0.44 0.49 0.26 0.06
Depreciation 0.58 0.59 0.84 0.66 0.54 0.58 0.55 0.61 0.55 0.64 0.33 0.52 0.55
Profit before tax 12.98 8.52 6.28 4.23 7.05 6.53 13.27 4.86 7.11 6.49 21.78 5.72 7.24
Tax % 24.65% 24.53% 33.60% 25.06% 24.82% 28.02% 26.98% 24.49% 25.60% 35.13% 20.48% 24.65% 25.14%
9.79 6.43 4.18 3.18 5.29 4.69 9.68 3.66 5.29 4.20 17.32 4.31 5.42
EPS in Rs 5.12 3.36 2.19 1.66 2.77 2.45 5.06 1.91 2.77 2.20 9.06 2.25 2.84
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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 97 112 120 123 109 121 153 174 196 210 211
63 84 82 92 105 95 97 105 129 147 172 185 188
Operating Profit 11 11 15 20 16 28 12 16 23 26 24 24 23
OPM % 15% 11% 16% 18% 13% 23% 11% 13% 15% 15% 12% 12% 11%
0 1 1 -3 5 6 6 6 3 10 13 21 21
Interest 2 2 4 5 4 3 4 4 2 3 4 3 1
Depreciation 1 1 2 2 2 1 1 2 2 3 2 2 2
Profit before tax 8 8 10 10 15 30 14 16 22 31 31 40 41
Tax % 23% 28% 27% 23% 20% 33% 31% 30% 28% 26% 27% 24%
6 6 7 8 12 20 9 11 16 23 23 30 31
EPS in Rs 3.21 3.32 3.90 4.18 6.70 10.93 4.88 5.79 8.43 11.83 11.95 15.95 16.35
Dividend Payout % 0% 0% 0% 48% 30% 18% 0% 0% 12% 8% 8% 6%
Compounded Sales Growth
10 Years: 8%
5 Years: 14%
3 Years: 11%
TTM: 6%
Compounded Profit Growth
10 Years: 17%
5 Years: 27%
3 Years: 24%
TTM: 34%
Stock Price CAGR
10 Years: %
5 Years: 23%
3 Years: 3%
1 Year: 9%
Return on Equity
10 Years: 12%
5 Years: 11%
3 Years: 13%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 57 72 91 122 133 150 170 191 220 230
5 36 35 42 31 38 40 26 34 38 28 13 9
9 11 14 18 13 34 12 15 22 23 23 21 28
Total Liabilities 73 112 121 136 134 180 193 194 224 251 261 274 286
8 20 20 19 18 18 25 26 27 26 24 25 25
CWIP 0 0 0 2 5 7 0 2 0 0 0 0 6
Investments 0 1 1 2 2 2 2 13 39 39 39 27 27
65 91 101 113 109 153 166 153 158 186 198 222 228
Total Assets 73 112 121 136 134 180 193 194 224 251 261 274 286

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

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 0 -2 19 22 -1 2 11 3 1 5 5
-9 -26 3 -18 -1 -20 5 2 -14 0 12 18
9 29 -5 -0 -21 21 3 -19 7 -3 -16 -19
Net Cash Flow -0 4 -4 0 -0 0 10 -6 -4 -1 1 3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 99 117 125 131 128 160 155 148 149 156 159 161
Inventory Days 174 138 141 175 149 206 288 265 230 214 176 169
Days Payable 53 38 58 53 36 34 38 42 45 30 33 30
Cash Conversion Cycle 220 216 208 253 241 331 405 372 334 340 302 300
Working Capital Days 200 191 240 178 196 263 317 292 279 281 267 270
ROCE % 18% 13% 13% 17% 16% 24% 11% 11% 13% 16% 15% 17%

Shareholding Pattern

Numbers in percentages

16 Recently
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
    Transcript
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