VETO - VETO SWITCHGEARS AND CABLES LIMITED Share Price

Consumer Durables

₹123.16-2.04(-1.63%)

Market Closed as of Aug 8, 2025, 15:30 IST

Select time range

Valuation
Market Cap	239.87 Cr
Price/Earnings (Trailing)	11
Price/Sales (Trailing)	0.79
EV/EBITDA	7.64
Price/Free Cashflow	-50.38
MarketCap/EBT	8.12
Enterprise Value	261.6 Cr

Fundamentals
Revenue (TTM)	302.93 Cr
Rev. Growth (Yr)	8%
Earnings (TTM)	21.82 Cr
Earnings Growth (Yr)	229.4%

Profitability
Operating Margin	10%
EBT Margin	10%
Return on Equity	8.16%
Return on Assets	6.57%
Free Cashflow Yield	-1.98%

Price to Sales Ratio

Latest reported: 1

Revenue (Last 12 mths)

Latest reported: 303 Cr

Net Income (Last 12 mths)

Latest reported: 22 Cr

Growth & Returns
Price Change 1W	1.1%
Price Change 1M	-0.60%
Price Change 6M	-2.7%
Price Change 1Y	-20.2%
3Y Cumulative Return	9.9%
5Y Cumulative Return	22.2%
7Y Cumulative Return	-3.8%
10Y Cumulative Return	4.7%

Cash Flow & Liquidity
Cash Flow from Investing (TTM)	-18.49 Cr
Cash Flow from Operations (TTM)	14.99 Cr
Cash Flow from Financing (TTM)	-3 Cr
Cash & Equivalents	1.05 Cr
Free Cash Flow (TTM)	-4.76 Cr
Free Cash Flow/Share (TTM)	-2.49

Balance Sheet
Total Assets	332.23 Cr
Total Liabilities	64.81 Cr
Shareholder Equity	267.43 Cr
Current Assets	258.97 Cr
Current Liabilities	58.44 Cr
Net PPE	37.58 Cr
Inventory	94.85 Cr
Goodwill	11 K

Capital Structure & Leverage
Debt Ratio	0.07
Debt/Equity	0.09
Interest Coverage	17
Interest/Cashflow Ops	10.13

Dividend & Shareholder Returns
Dividend/Share (TTM)	2
Dividend Yield	1.93%
Shares Dilution (1Y)	0.00%
Shares Dilution (3Y)	0.00%

Risk & Volatility
Max Drawdown	-46.5%
Drawdown Prob. (30d, 5Y)	72.69%
Risk Level (5Y)	59.9%

Pros

Balance Sheet: Strong Balance Sheet.

Buy Backs: Company has bought back it's stock in the past which is a good thing.

Technicals: Bullish SharesGuru indicator.

Cons

Smart Money: Smart money is losing interest in the stock.

Size: It is a small market cap company and can be volatile.

Past Returns: In past three years, the stock has provided 9.9% return compared to 14.6% by NIFTY 50.

Growth: Poor revenue growth. Revenue grew at a disappointing -0.6% on a trailing 12-month basis.

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Investor Care
Dividend Yield	1.93%
Dividend/Share (TTM)	2
Shares Dilution (1Y)	0.00%
Earnings/Share (TTM)	11.41

Financial Health
Current Ratio	4.43
Debt/Equity	0.09

Technical Indicators
RSI (14d)	45.58
RSI (5d)	64.76
RSI (21d)	49.09
MACD Signal	Sell
Stochastic Oscillator Signal	Hold
Grufity Signal	Buy
RSI Signal	Hold
RSI5 Signal	Hold
RSI21 Signal	Hold
SMA 5 Signal	Buy
SMA 10 Signal	Buy
SMA 20 Signal	Sell
SMA 50 Signal	Buy
SMA 100 Signal	Buy

Summary of Latest Earnings Report from VETO SWITCHGEARS AND CABLES

Summary of VETO SWITCHGEARS AND CABLES's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Earnings Outlook

Last updated:

Q&A Session

Last updated:

Revenue Breakdown

Analysis of VETO SWITCHGEARS AND CABLES's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.

Revenue

Last Updated: Mar 31, 2025

Description	Share	Value
Lighting and fittings	36.6%	29 Cr
Wires and cables	35.9%	28.5 Cr
Accessories and others	27.5%	21.7 Cr
Total		79.2 Cr

Share Holdings

Understand VETO SWITCHGEARS AND CABLES ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

Shareholder Name	Holding %
VETO ELECTROPOWERS (INDIA) PRIVATE LIMITED	32.28%
HARISH KUMAR GURNANI	3.84%
AKSHAY KUMAR GURNANI	3.6%
KANISHK KISHORE GURNANI .	2.16%
PUSHPA DEVI GURNANI	1.49%
ROHIT GURNANI .	1.22%
KISHORE KUMAR GURNANI	0.29%
SITADEVI GURNANI	0.08%
NARAIN DAS GURNANI	0.07%
MUKESH GURNANI	0.03%
PRIYANKA KISHORE GURNANI	0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Is VETO SWITCHGEARS AND CABLES Better than it's peers?

Detailed comparison of VETO SWITCHGEARS AND CABLES against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
		-	-	-	-	-	-	-	-

Sector Comparison: VETO vs Consumer Durables

Comprehensive comparison against sector averages

Comparative Metrics

VETO metrics compared to Consumer

Category	VETO	Consumer
PE	11.00	70.25
PS	0.79	3.00
Growth	-0.6 %	57.5 %

Performance Comparison

VETO vs Consumer (2021 - 2025)

Key Insights

1. VETO is among the Top 10 Consumer Electronics companies but not in Top 5.
2. The company holds a market share of 0.4% in Consumer Electronics.
3. In last one year, the company has had a below average growth that other Consumer Electronics companies.

Income Statement for VETO SWITCHGEARS AND CABLES

Consolidated figures (in Rs. Crores) / View Standalone Data

AnnualQuarterly

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Revenue From Operations	0%	300	300	291	268	181	150
Other Income	-58.4%	2.55	4.73	4.4	3.14	1.49	0.68
Total Income	-0.7%	303	305	296	271	183	151
Cost of Materials	-1.8%	113	115	113	113	75	50
Purchases of stock-in-trade	5.1%	104	99	87	88	58	48
Employee Expense	5.9%	19	18	19	16	12	11
Finance costs	-79.6%	1.64	4.14	4.78	3.95	1.86	3.73
Depreciation and Amortization	19.1%	3.06	2.73	2.82	3.33	2	1.9
Other expenses	15.4%	31	27	24	24	17	16
Total Expenses	-1.1%	273	276	265	241	161	137
Profit Before exceptional items and Tax	3.6%	30	29	30	30	21	14
Total profit before tax	3.6%	30	29	30	30	21	14
Current tax	-32.1%	7.79	11	9.13	9.65	6.59	4.84
Deferred tax	10.1%	-0.07	-0.19	0.83	-0.04	-0.04	-0.2
Total tax	-32.8%	7.72	11	9.96	9.61	6.55	4.64
Total profit (loss) for period	23.5%	22	18	20	20	15	9.28
Other comp. income net of taxes	61.6%	0.02	-1.55	1.91	0.73	0.09	1.18
Total Comprehensive Income	31.2%	22	17	22	21	15	10
Earnings Per Share, Basic	23.2%	11.41	9.45	10.7	10.56	7.76	4.88
Earnings Per Share, Diluted	23.2%	11.41	9.45	10.7	10.56	7.76	4.88

Description	(%) Q/Q	Mar-2025	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023
Revenue From Operations	17.3%	89	76	74	61	79	82
Other Income	-206.7%	0.52	1.45	0.15	0.42	3.59	0.39
Total Income	17.1%	90	77	74	62	83	82
Cost of Materials	8.3%	27	25	32	28	29	29
Purchases of stock-in-trade	16%	30	26	26	23	25	26
Employee Expense	1.8%	4.87	4.8	4.66	4.53	4.8	4.51
Finance costs	42%	0.71	0.5	0.04	0.39	0.73	0.87
Depreciation and Amortization	-128.6%	0.84	0.93	0.66	0.63	0.48	0.79
Other expenses	3.7%	8.5	8.23	7.92	6.09	6.69	7.72
Total Expenses	11.3%	80	72	66	55	76	75
Profit Before exceptional items and Tax	108.8%	9.81	5.22	8.01	6.5	6.71	7.45
Total profit before tax	108.8%	9.81	5.22	8.01	6.5	6.71	7.45
Current tax	170.9%	2.49	1.55	2.04	1.72	5.17	2.03
Deferred tax	-5.2%	-0.02	0.03	0.42	-0.09	-0.69	0.53
Total tax	153.4%	2.47	1.58	2.46	1.62	4.48	2.56
Total profit (loss) for period	141.1%	7.34	3.63	5.97	4.88	2.23	4.89
Other comp. income net of taxes	4.1%	0.06	0.02	0.01	0.01	-2.2	0.06
Total Comprehensive Income	140.6%	7.4	3.66	5.98	4.89	0.03	4.95
Earnings Per Share, Basic	215.6%	3.84	1.9	3.12	2.55	1.17	2.56
Earnings Per Share, Diluted	215.6%	3.84	1.9	3.12	2.55	1.17	2.56

Standalone figures (in Rs. Crores) / View Consolidated Data

AnnualQuarterly

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Revenue From Operations	2.9%	216	210	196	174	153	121
Other Income	-71.9%	6.62	21	13	10	2.71	5.65
Total Income	-3.1%	223	230	209	184	155	126
Cost of Materials	-12%	74	84	75	69	62	44
Purchases of stock-in-trade	9.5%	82	75	68	56	48	39
Employee Expense	0%	11	11	11	11	11	10
Finance costs	-84.9%	1.24	2.59	3.81	3.23	1.75	3.72
Depreciation and Amortization	26.5%	2.43	2.13	2.33	2.58	1.8	1.75
Other expenses	10.5%	22	20	18	18	15	13
Total Expenses	2.6%	195	190	178	153	133	111
Profit Before exceptional items and Tax	-30.8%	28	40	31	31	22	16
Total profit before tax	-30.8%	28	40	31	31	22	16
Current tax	-35.1%	6.84	10	7.58	8.29	6.35	4.84
Deferred tax	-19.5%	-0.53	-0.28	0.65	-0.15	-0.12	-0.19
Total tax	-39.4%	6.31	9.76	8.23	8.14	6.23	4.65
Total profit (loss) for period	-27.6%	22	30	23	23	16	11
Other comp. income net of taxes	-3.2%	0.02	0.05	0.05	0.08	0.14	0.07
Total Comprehensive Income	-30%	22	31	23	23	16	11
Earnings Per Share, Basic	-31.3%	11.26	15.94	11.95	11.83	8.48	5.82
Earnings Per Share, Diluted	-31.3%	11.26	15.94	11.95	11.83	8.48	5.82

Description	(%) Q/Q	Mar-2025	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023
Revenue From Operations	24.5%	67	54	53	42	62	55
Other Income	-50.4%	1.67	2.35	1.35	1.25	18	0.88
Total Income	23.6%	69	56	54	43	79	56
Cost of Materials	12.5%	19	17	22	16	20	22
Purchases of stock-in-trade	21.1%	24	20	21	18	19	20
Employee Expense	3.5%	2.79	2.73	2.82	2.69	3.03	2.63
Finance costs	40.3%	0.6	0.33	0.06	0.26	0.49	0.44
Depreciation and Amortization	-28.6%	0.64	0.72	0.55	0.52	0.33	0.64
Other expenses	53.5%	7.8	5.43	4.53	4.05	6.59	5.22
Total Expenses	16%	59	51	47	37	58	49
Profit Before exceptional items and Tax	111.1%	9.74	5.14	7.24	5.72	22	6.48
Total profit before tax	111.1%	9.74	5.14	7.24	5.72	22	6.48
Current tax	320.7%	2.22	1.29	1.81	1.51	5.17	1.75
Deferred tax	-44.4%	-0.43	0.01	0	-0.1	-0.7	0.53
Total tax	163.3%	1.79	1.3	1.82	1.41	4.47	2.28
Total profit (loss) for period	144.7%	7.95	3.84	5.42	4.31	17	4.2
Other comp. income net of taxes	5.1%	0.06	0.01	0.01	0.01	0.01	0.01
Total Comprehensive Income	146%	8.01	3.85	5.44	4.33	17	4.22
Earnings Per Share, Basic	212.9%	4.16	2.01	2.84	2.26	9.06	2.2
Earnings Per Share, Diluted	212.9%	4.16	2.01	2.84	2.26	9.06	2.2

Balance Sheet for VETO SWITCHGEARS AND CABLES

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Mar-2025	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022
Cash and cash equivalents	-93.8%	1.05	1.8	7.54	28	15	20
Total current financial assets	14.2%	154	135	145	162	154	142
Inventories	-11.3%	95	107	94	113	105	126
Total current assets	2.8%	259	252	250	286	268	279
Property, plant and equipment	37%	38	28	27	26	27	27
Capital work-in-progress	-37.5%	11	17	9.44	7.93	6.52	4.11
Investment property	0%	13	13	13	13	13	14
Non-current investments	0%	0.01	0.01	0.01	0.01	0.01	0.01
Total non-current financial assets	15.6%	1.52	1.45	1.62	2.66	2.7	2.46
Total non-current assets	14.3%	73	64	57	54	53	51
Total assets	5.1%	332	316	306	340	321	330
Borrowings, non-current	32.2%	2.52	2.15	2.1	10	10	10
Total non-current financial liabilities	13.8%	6.36	5.71	6.15	15	15	15
Provisions, non-current	-156.2%	0	2.78	2.56	2.37	2.05	1.86
Total non-current liabilities	-28.4%	6.36	8.49	8.94	17	17	17
Borrowings, current	143.3%	20	8.81	20	37	32	41
Total current financial liabilities	12.8%	54	48	47	70	62	76
Provisions, current	7%	0.2	0.14	0.17	0.15	0.16	0.03
Current tax liabilities	51.7%	0.58	0.13	0.62	-0.4	1.36	3.41
Total current liabilities	16.3%	58	50	50	78	70	85
Total liabilities	12.3%	65	58	59	95	87	102
Equity share capital	0%	19	19	19	19	19	19
Non controlling interest	-133.3%	0.98	1.06	1	0.96	0.89	0.84
Total equity	3.5%	267	258	247	245	234	228
Total equity and liabilities	5.1%	332	316	306	340	321	330

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2025	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022
Cash and cash equivalents	-89.2%	0.3	0.63	7.07	11	3.82	9.06
Total current financial assets	17%	104	89	104	93	92	82
Inventories	-10.4%	70	78	70	78	67	76
Current tax assets	-	5.64	0	0	0.4	0	0
Total current assets	4.1%	180	173	179	179	166	165
Property, plant and equipment	70%	18	11	11	9.68	10	9.99
Capital work-in-progress	-118.5%	0	6.4	0	0	0	0
Investment property	0%	13	13	13	13	13	14
Non-current investments	0%	27	27	27	39	39	39
Loans, non-current	14.6%	56	49	36	27	26	39
Total non-current financial assets	9.2%	84	77	64	68	68	80
Total non-current assets	7.1%	121	113	94	95	96	108
Total assets	5.3%	301	286	274	275	262	273
Borrowings, non-current	31.8%	2.16	1.88	2.03	10	10	10
Total non-current financial liabilities	13.3%	6.01	5.42	6.26	15	15	14
Provisions, non-current	-112.8%	0	0.53	0.53	0.41	0.41	0.29
Total non-current liabilities	1.4%	6.01	5.94	6.79	15	15	15
Borrowings, current	106.3%	14	7.3	11	18	17	40
Total current financial liabilities	6.9%	32	30	24	38	33	56
Provisions, current	7%	0.2	0.14	0.17	0.15	0.16	0.03
Current tax liabilities	35.6%	0.44	0.13	0.62	0	1.23	2.19
Total current liabilities	12.9%	36	32	28	40	36	60
Total liabilities	10.8%	42	38	34	55	51	75
Equity share capital	0%	19	19	19	19	19	19
Total equity	4%	259	249	239	220	211	198
Total equity and liabilities	5.3%	301	286	274	275	262	273

Cash Flow for VETO SWITCHGEARS AND CABLES

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Finance costs	-79.6%	1.64	4.14	4.78	3.95	-	-
Change in inventories	-114.8%	-0.48	11	17	-10.14	-	-
Depreciation	19.1%	3.06	2.73	2.82	3.33	-	-
Impairment loss / reversal	-	-0.03	0	0.07	0.1	-	-
Dividend income	-	0.94	0	0	0	-	-
Adjustments for interest income	47.5%	0.15	-0.62	0.03	0.03	-	-
Net Cashflows from Operations	-39.5%	24	39	31	1.05	-	-
Income taxes paid (refund)	-109.1%	0	12	12	8.48	-	-
Other inflows (outflows) of cash	-	-9.07	0	-0.9	-1	-	-
Net Cashflows From Operating Activities	-46.2%	15	27	18	-8.43	-	-
Proceeds from sales of PPE	-	0	0	0	0.15	-	-
Purchase of property, plant and equipment	258.5%	20	6.3	5.08	1.27	-	-
Dividends received	-	0.94	0	0	0	-	-
Interest received	-	0	0	0.03	0.03	-	-
Other inflows (outflows) of cash	-83.8%	0.32	0.63	0.91	0.9	-	-
Net Cashflows From Investing Activities	-192.2%	-18.49	-5.67	-4.15	-0.19	-	-
Proceeds from borrowings	-	0	0	7.31	11	-	-
Repayments of borrowings	-	-0.69	0	0.41	0	-	-
Payments of lease liabilities	-	0.33	0	0.47	0	-	-
Dividends paid	-	1.91	0	1.91	1.91	-	-
Interest paid	-	1.45	0	4.73	3.95	-	-
Other inflows (outflows) of cash	96.5%	0	-27.31	-9.68	0	-	-
Net Cashflows from Financing Activities	85.9%	-3	-27.31	-9.89	4.82	-	-
Effect of exchange rate on cash eq.	-	0	0	1.86	0.66	-	-
Net change in cash and cash eq.	-6.5%	-6.5	-6.04	5.8	-3.14	-	-

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Finance costs	-84.9%	1.24	2.59	3.81	3.23	-	-
Change in inventories	59.2%	-0.38	-2.38	2.21	-4.56	-	-
Depreciation	26.5%	2.43	2.13	2.33	2.58	-	-
Impairment loss / reversal	-	-0.02	0	0.07	0.1	-	-
Dividend income	-	0.94	0	0	0	-	-
Adjustments for interest income	71.6%	4.33	2.94	3.11	2.01	-	-
Net Cashflows from Operations	-54.2%	23	49	24	16	-	-
Interest received	93.6%	0	-14.51	0	0	-	-
Income taxes paid (refund)	-38.2%	7.18	11	9.85	7.02	-	-
Other inflows (outflows) of cash	94.9%	0	-18.5	-0.9	-1.01	-	-
Net Cashflows From Operating Activities	293.7%	16	4.81	13	8.24	-	-
Cashflows used in obtaining control of subsidiaries	-	0.31	0	0	0	-	-
Purchase of property, plant and equipment	280.1%	8.78	-3.32	1.01	0.45	-	-
Proceeds from sales of investment property	-96.1%	0	0.49	0	0	-	-
Purchase of investment property	-162.1%	0	2.61	0	0	-	-
Proceeds from sales of long-term assets	-	0	0	0	0.15	-	-
Dividends received	-	0.94	0	0	0	-	-
Interest received	-107.1%	0	15	0.9	0.9	-	-
Other inflows (outflows) of cash	-246.6%	-15.13	12	3.11	2.01	-	-
Net Cashflows From Investing Activities	-242.8%	-23.27	18	4	-6.97	-	-
Proceeds from borrowings	94.5%	0	-17.24	7.31	3.03	-	-
Repayments of borrowings	-	-3.86	0	0.33	0	-	-
Payments of lease liabilities	-	0.28	0	0.38	0	-	-
Dividends paid	0%	1.91	1.91	1.91	1.91	-	-
Interest paid	-	1.05	0	3.77	3.23	-	-
Other inflows (outflows) of cash	24.8%	0	-0.33	-16.73	0	-	-
Net Cashflows from Financing Activities	98.1%	0.61	-19.49	-15.83	-2.11	-	-
Net change in cash and cash eq.	-436.8%	-6.78	3.31	1.55	-0.84	-	-

What does VETO SWITCHGEARS AND CABLES LIMITED do?

Consumer Electronics•Consumer Durables•Small Cap

Veto Switchgears and Cables Limited, together with its subsidiaries, engages in the manufacture and sale of wires and cables, and electrical accessories in India and internationally. It operates through Wire and Cables, Accessories & Others, and Lighting and Fittings, and segments. The company offers electrical accessories, including vyoma and power modular switches; and MCBs, circuit breakers, distribution panel, isolator, AC box, and bells and extension cords. It also provides wires and cables, such as multi strand and flexible wires; ceiling, wall, pedesital and table fans; and slim LED panels, concealed light, deep light, spot light, flood light, street light, strip light, rope light, LED bulb and tube light, wall and track light, and surface panels. In addition, the company offers other electrical accessories, such as switch socket, MCB, bell, and all other electrical accessories. The company markets its products under the VETO and VIMAL POWER brand names through a network of dealers and distributors. Veto Switchgears and Cables Limited was founded in 1967 and is based in Jaipur, India.

Industry Group:Consumer Durables

Employees:331

Website:www.vetoswitchgears.com

VETO - VETO SWITCHGEARS AND CABLES LIMITED Share Price

Valuation

Fundamentals

Profitability

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)

Growth & Returns

Cash Flow & Liquidity

Balance Sheet

Capital Structure & Leverage

Dividend & Shareholder Returns

Risk & Volatility

Investor Care

Financial Health

Technical Indicators

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

What does VETO SWITCHGEARS AND CABLES LIMITED do?