Veto Switchgears

₹127.9 1.4 | 1.1%

WEBSITE BSE:539331 NSE : VETO 18 May, 12:50

Market Cap ₹244 Cr.

Stock P/E 13.9

P/B 1

Current Price ₹127.9

Book Value ₹ 130.4

Face Value 10

52W High ₹156.4

Dividend Yield 0.78%

52W Low ₹ 92

Edit Ratio

Veto Switchgears Research see more...

Overview Inc. Year: 2007Industry: Electric Equipment

Veto Switchgears And Cables Ltd is a reputable company specializing in the manufacturing and distribution of high-quality electrical switchgears and cables. With a strong presence in the market, Veto Switchgears And Cables has established itself as a trusted name in the industry. The company offers a wide range of products, including circuit breakers, distribution boards, control panels, wiring cables, and flexible wires, catering to diverse industrial, commercial, and residential applications. Veto Switchgears And Cables Ltd is committed to delivering products that adhere to strict quality standards, ensuring reliability and safety. Their state-of-the-art manufacturing facilities, equipped with advanced technology, enable them to produce innovative and durable electrical solutions. The company's dedicated team of professionals, including engineers and technicians, contribute their expertise to design, develop, and deliver products that meet the evolving needs of customers. Veto Switchgears And Cables Ltd has a robust distribution network, allowing them to serve customers across various regions efficiently. Their customer-centric approach, coupled with prompt after-sales support, has helped build long-term relationships with clients. As a socially responsible organization, Veto Switchgears And Cables also prioritizes sustainable practices and environmental consciousness in its operations.

Veto Switchgears Share Price

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Peer Comparison

Veto Switchgears Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	75	71	79	60	75	72	84	67	72	82
Other Income	0	0	2	0	0	2	2	0	0	0
Total Income	76	72	81	60	76	74	86	67	72	82
Total Expenditure	66	59	72	50	65	65	78	59	62	73
Operating Profit	10	12	10	10	11	8	8	8	10	9
Interest	1	1	1	1	1	1	1	1	2	1
Depreciation	1	1	1	1	1	1	1	1	1	1
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	8	11	7	8	10	7	6	7	8	7
Provision for Tax	4	3	3	2	3	2	4	2	2	3
Profit After Tax	5	8	5	6	7	5	2	5	6	5
Adjustments	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Profit After Adjustments	5	8	5	6	7	5	2	5	6	5
Adjusted Earnings Per Share	2.4	4.2	2.6	3.4	3.6	2.4	1	2.5	3.1	2.5

Veto Switchgears Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	74	94	97	177	239	253	218	150	181	267	291	305
Other Income	0	1	1	0	2	2	0	1	1	3	4	2
Total Income	74	95	98	177	241	255	219	151	183	270	296	307
Total Expenditure	63	84	82	151	214	212	197	131	158	233	257	272
Operating Profit	11	12	16	26	27	43	21	20	25	37	38	35
Interest	2	2	4	5	4	3	4	4	2	4	5	5
Depreciation	1	1	2	2	2	2	1	2	2	3	3	4
Exceptional Income / Expenses	0	0	0	-4	0	0	0	0	0	0	0	0
Profit Before Tax	8	8	10	15	21	39	16	14	21	30	30	28
Provision for Tax	2	2	3	2	3	10	4	5	7	10	10	11
Profit After Tax	6	6	7	13	18	29	12	9	15	20	20	18
Adjustments	0	0	0	0	0	0	0	0	-0	-0	-0	0
Profit After Adjustments	6	6	7	13	18	29	12	9	15	20	20	18
Adjusted Earnings Per Share	0	0	0	7.1	10	15.8	6.1	4.9	7.7	10.5	10.6	9.1

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	9%	25%	3%	15%
Operating Profit CAGR	3%	24%	-2%	13%
PAT CAGR	0%	30%	-7%	13%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	18%	-1%	13%	8%
ROE Average	9%	9%	8%	13%
ROCE Average	13%	13%	11%	15%

Veto Switchgears Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	59	66	73	81	101	148	167	178	194	213	233
Minority's Interest	0	0	0	0	0	0	0	0	1	1	1
Borrowings	1	6	6	6	5	3	1	0	0	4	10
Other Non-Current Liabilities	0	0	-0	-1	-2	-3	-2	-2	5	5	3
Total Current Liabilities	13	40	42	55	39	50	52	41	71	84	70
Total Liabilities	73	112	121	141	143	199	218	218	271	306	318
Fixed Assets	10	21	22	21	20	23	16	25	30	29	27
Other Non-Current Assets	4	16	19	22	14	9	17	19	18	19	23
Total Current Assets	59	74	80	99	110	167	185	173	223	258	268
Total Assets	73	112	121	141	143	199	218	218	271	306	318

Veto Switchgears Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	2	1	5	2	15	3	3	15	15	13	9
Cash Flow from Operating Activities	0	0	-2	21	20	-25	11	31	7	-8	18
Cash Flow from Investing Activities	-9	-26	3	-8	-11	4	-2	-13	-7	-0	-4
Cash Flow from Financing Activities	9	29	-5	-0	-21	21	3	-19	-3	4	-10
Net Cash Inflow / Outflow	-0	4	-4	14	-12	-0	12	-1	-4	-4	4
Closing Cash & Cash Equivalent	1	5	2	15	3	3	15	15	13	9	15

Veto Switchgears Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	0	0	0	7.14	10	15.81	6.05	4.85	7.74	10.47	10.59
CEPS(Rs)	3.79	3.98	5	8.22	10.91	16.67	6.82	5.85	8.81	12.31	12.18
DPS(Rs)	0	0	0	2	2	2	0	0	1	1	1
Book NAV/Share(Rs)	0	0	0	44.14	52.89	67.77	87.53	93	101.38	111.24	121.83
Core EBITDA Margin(%)	14.64	11.44	15.6	14.64	10.65	16.27	9.59	12.56	13.03	12.7	11.55
EBIT Margin(%)	13.58	11.09	14.09	11.28	10.64	16.43	9.09	11.75	12.83	12.63	12.09
Pre Tax Margin(%)	10.27	8.93	10.02	8.7	8.91	15.35	7.31	9.26	11.8	11.15	10.45
PAT Margin (%)	7.92	6.44	7.34	7.41	7.66	11.42	5.3	6.18	8.19	7.55	7.03
Cash Profit Margin (%)	9.36	7.72	9.41	8.53	8.36	12.05	5.97	7.44	9.29	8.8	8
ROA(%)	9.06	6.57	6.13	9.98	12.87	16.94	5.55	4.26	6.07	7	6.56
ROE(%)	13.58	9.74	10.34	17.05	20.61	26.2	7.94	5.38	7.99	9.94	9.18
ROCE(%)	18.07	12.69	13.13	17.28	19.91	26.18	10.09	8.6	10.77	13.86	13.18
Receivable days	99.79	97.42	119.44	77.62	74.65	116.97	140.05	146.34	151.15	143.1	161.45
Inventory Days	103.92	96.91	95.32	62.09	56.66	60.25	119.33	228.67	203.61	160	142.37
Payable days	46.32	39.15	49.53	29.86	18.56	15.67	16.74	31.01	59.54	62.65	52.15
PER(x)	0	0	0	12.79	15.11	11.52	11.57	5.84	14.97	8.69	7.14
Price/Book(x)	1.55	1.51	1.77	2.07	2.86	2.69	0.8	0.3	1.14	0.82	0.62
Dividend Yield(%)	0	0	0	2.19	1.32	1.1	0	0	0.86	1.1	1.32
EV/Net Sales(x)	1.07	1.29	1.65	1.1	1.25	1.45	0.73	0.42	1.35	0.79	0.59
EV/Core EBITDA(x)	7.11	10.43	10.24	7.44	11	8.51	7.46	3.26	9.72	5.67	4.53
Net Sales Growth(%)	8.07	27.43	2.99	81.64	35.27	5.85	-13.74	-31.19	20.65	47.46	8.93
EBIT Growth(%)	-0.37	4.11	30.75	45.4	27.64	63.85	-52.37	-11.09	31.75	45.14	4.3
PAT Growth(%)	-18.56	3.62	17.34	83.27	39.96	58.1	-60.05	-19.81	59.87	36.09	1.31
EPS Growth(%)	0	0	0	0	39.96	58.1	-61.7	-19.81	59.42	35.3	1.15
Debt/Equity(x)	0.08	0.55	0.48	0.52	0.32	0.3	0.24	0.14	0.18	0.21	0.18
Current Ratio(x)	4.52	1.85	1.91	1.79	2.83	3.34	3.55	4.19	3.11	3.08	3.81
Quick Ratio(x)	2.66	1.23	1.31	1.16	1.82	2.45	1.67	2.01	1.55	1.62	2.32
Interest Cover(x)	4.11	5.12	3.47	4.38	6.17	15.12	5.1	4.73	12.48	8.54	7.36
Total Debt/Mcap(x)	0.05	0.36	0.27	0.25	0.11	0.11	0.3	0.46	0.16	0.26	0.3

Veto Switchgears Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	55.74	55.74	55.74	55.74	50.08	50.08	50.08	47.15	45.06	45.06
FII	1.32	1.32	1.32	0	0	0	0	0	0	0.01
DII	0	0	0	0	0	0	0	0	0	0
Public	42.94	42.94	42.94	44.26	49.92	49.92	49.92	52.85	54.94	54.93
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	1.07	1.07	1.07	1.07	0.96	0.96	0.96	0.9	0.86	0.86
FII	0.03	0.03	0.03	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	0.82	0.82	0.82	0.85	0.95	0.95	0.95	1.01	1.05	1.05
Others	0	0	0	0	0	0	0	0	0	0
Total	1.91	1.91	1.91	1.91	1.91	1.91	1.91	1.91	1.91	1.91

Pros

Debtor days have improved from 62.65 to 52.15days.
Company is almost debt free.

Cons

Promoter holding is low: 45.06%.
Company has a low return on equity of 9% over the last 3 years.
The company has delivered a poor profit growth of -7% over past five years.

* 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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Veto Switchgears Research see more...

Overview Inc. Year: 2007Industry: Electric Equipment

Veto Switchgears Share Price

Alert Data

Quarterly Price

Peer Comparison

Veto Switchgears Quarterly Results

Veto Switchgears Profit & Loss

Growth Rates

Veto Switchgears Balance Sheet

Veto Switchgears Cash Flow

Veto Switchgears Ratios

Veto Switchgears Shareholding Pattern

Veto Switchgears News

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