Veritas (India)
Commercial Services
512229 BSE
₹137.30
Close ·
- P/E
- Not meaningful: loss-making over the last twelve months
Close 4 Nov 2026 ₹137.30 −139.85 −50.5% 1Y
Start ₹277.15
Key Fundamentals
MicrocapCommercial ServicesServicesPrice-based figures at the close · EPS basis: Consolidated · TTM
- ROCE
- 1.52%
- Debt to Equity
- 0.15
- EPS (TTM)
- −₹0.29
- Book Value
- ₹1,068.34
- Market Cap
- —
- P/E (TTM)
- Not meaningful: loss-making over the last twelve months
- P/B
- 0.13
- ROE
- 0.71%
- Dividend Yield
- 0.04%
- EBITDA
- ₹88.20 Cr
- 52W High
- ₹285.00
- 52W Low
- ₹132.20
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
43 Weak
Data confidence 93/100
Category scores
- Quality
- 39
- Weak
- Returns, margins, earnings quality 22% weight
- Valuation
- 46
- Average
- Cheap vs sector & own history 24% weight
- Growth
- 34
- Poor
- Sales & profit trajectory 9% weight
- Financial Health
- 35
- Poor
- Solvency, leverage, coverage 9% weight
- Momentum
- 30
- Poor
- Trend strength, vol-adjusted 12% weight
- Ownership
- 54
- Average
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
1- Stock is trading at 0.14 times its book value
Weaknesses
6- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 10.6% over past five years.
- Company has a low return on equity of 4.13% over last 3 years.
- Contingent liabilities of Rs.481 Cr.
- Dividend payout has been low at 0.29% of profits over last 3 years
- Company has high debtors of 246 days.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 10 | 6 | 3 |
| Oscillators | Bullish | 0 | 6 | 3 |
| Moving Averages | Strong Bearish | 10 | 0 | 0 |
Oscillators
Bullish
Bearish
0
Neutral
6
Bullish
3
Overall
Strong Bearish
Bearish
10
Neutral
6
Bullish
3
Moving Averages
Strong Bearish
Bearish
10
Neutral
0
Bullish
0
Key readings
- RSI (14)
- 35.98
- Neutral
- MACD (12,26,9)
- −2.60
- Bullish
- SMA (50)
- 151.99
- Bearish
- SMA (200)
- 165.43
- Bearish
As of
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | +7.90% |
|---|---|
| 5Y | +10.66% |
| 3Y | +12.90% |
| 1Y | −24.04% |
| TTM | −12.87% |
Net profit
| 10Y | −10.40% |
|---|---|
| 5Y | −28.76% |
| 3Y | −40.51% |
| 1Y | −82.46% |
| TTM | Turned to loss |
Operating cash flow
| 10Y | Turned negative |
|---|---|
| 5Y | Turned negative |
| 3Y | Turned negative |
| 1Y | Turned negative |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | −1.94 pp |
|---|---|
| 5Y | −5.96 pp |
| 3Y | −3.83 pp |
| 1Y | −1.86 pp |
| TTM | −2.02 pp |
Revenue by year
| Mar 2017 | ₹1,648 Cr |
|---|---|
| Mar 2018 | ₹1,679 Cr |
| Mar 2019 | ₹1,876 Cr |
| Mar 2020 | ₹2,037 Cr |
| Mar 2021 | ₹1,876 Cr |
| Mar 2022 | ₹2,131 Cr |
| Mar 2023 | ₹2,163 Cr |
| Mar 2024 | ₹3,855 Cr |
| Mar 2025 | ₹4,098 Cr |
| Mar 2026 | ₹3,113 Cr |
Net profit by year
| Mar 2017 | ₹71.00 Cr |
|---|---|
| Mar 2018 | ₹68.00 Cr |
| Mar 2019 | ₹44.00 Cr |
| Mar 2020 | ₹122 Cr |
| Mar 2021 | ₹109 Cr |
| Mar 2022 | ₹105 Cr |
| Mar 2023 | ₹95.00 Cr |
| Mar 2024 | ₹187 Cr |
| Mar 2025 | ₹114 Cr |
| Mar 2026 | ₹20.00 Cr |
Quarterly Results
₹ Cr| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 495 | 941 | 1,324 | 1,095 | 756 | 916 | 1,642 | 785 | 587 | 1,006 | 988 | 532 | 898 |
| Expenses | 453 | 884 | 1,269 | 1,044 | 691 | 867 | 1,592 | 760 | 551 | 991 | 963 | 523 | 877 |
| Operating Profit | 42.11 | 56.86 | 55.08 | 50.61 | 64.32 | 48.13 | 50.28 | 24.81 | 35.86 | 15.63 | 24.83 | 9.09 | 20.08 |
| OPM % | 8.5% | 6.04% | 4.16% | 4.62% | 8.51% | 5.26% | 3.06% | 3.16% | 6.11% | 1.55% | 2.51% | 1.71% | 2.24% |
| Other Income | 0.25 | 0.25 | 56.04 | 0.35 | 0.54 | 13.01 | 3.12 | −10.67 | 2.78 | −0.33 | 0.57 | −0.28 | 0.53 |
| Interest | 8.36 | 6.33 | 5.85 | 10.58 | 7.59 | 14.05 | 13.16 | 5.41 | 4.57 | 4.39 | 3.23 | 15 | 5.97 |
| Depreciation | 8.78 | 8.91 | 8.96 | 15.89 | 9.43 | 10.1 | 9.95 | 9.94 | 9.97 | 10.31 | 10.52 | 10.52 | 11.03 |
| PBT | 25.22 | 41.87 | 96.31 | 24.49 | 47.84 | 36.99 | 30.29 | −1.21 | 24.1 | 0.6 | 11.65 | −16.71 | 3.61 |
| Tax % | 0.32% | 0.62% | 0.53% | 0.73% | −0.48% | 0.92% | 1.22% | −9.09% | −0.21% | 0% | 6.52% | −4.67% | −1.39% |
| Net Profit | 25.14 | 41.61 | 95.8 | 24.3 | 48.07 | 36.66 | 29.93 | −1.1 | 24.15 | 0.6 | 10.88 | −15.93 | 3.66 |
| EPS (₹) | 9.38 | 15.52 | 35.73 | 9.06 | 17.93 | 13.67 | 11.16 | −0.41 | 9.01 | 0.22 | 4.06 | −5.94 | 1.37 |
Profit & Loss
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,503 | 1,456 | 1,648 | 1,679 | 1,876 | 2,037 | 1,876 | 2,131 | 2,163 | 3,855 | 4,098 | 3,113 | 3,423 |
| Expenses | 1,446 | 1,388 | 1,567 | 1,601 | 1,765 | 1,899 | 1,714 | 1,975 | 2,021 | 3,651 | 3,911 | 3,027 | 3,354 |
| Operating Profit | 57 | 68 | 82 | 78 | 110 | 138 | 163 | 157 | 142 | 204 | 188 | 85 | 70 |
| OPM % | 3.8% | 4.7% | 5% | 4.7% | 6% | 7% | 9% | 7% | 7% | 5% | 4.6% | 2.7% | 2% |
| Other Income | 0 | 0 | 2 | 1 | 12 | 49 | 4 | 0 | 5 | 58 | 6 | 3 | 0 |
| Interest | 6 | 6 | 9 | 7 | 51 | 35 | 24 | 19 | 17 | 31 | 40 | 27 | 29 |
| Depreciation | 1 | 1 | 1 | 1 | 25 | 30 | 32 | 32 | 34 | 43 | 39 | 41 | 42 |
| PBT | 50 | 61 | 73 | 71 | 46 | 122 | 111 | 106 | 96 | 188 | 114 | 20 | −1 |
| Tax % | 4% | 2% | 2% | 5% | 6% | 0% | 1% | 1% | 1% | 1% | 0% | 0% | — |
| Net Profit | 48 | 60 | 71 | 68 | 44 | 122 | 109 | 105 | 95 | 187 | 114 | 20 | −1 |
| EPS (₹) | 19.85 | 22.47 | 26.67 | 25.27 | 16.23 | 45.61 | 40.82 | 39.05 | 35.36 | 69.69 | 42.36 | 7.35 | −0.29 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 1% | — |
Balance Sheet
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves | 1,021 | 1,113 | 1,177 | 1,244 | 1,694 | 1,886 | 1,971 | 2,108 | 2,301 | 2,507 | 2,663 | 2,862 |
| Borrowings | 209 | 409 | 644 | 969 | 495 | 487 | 389 | 268 | 232 | 327 | 198 | 438 |
| Other Liabilities | 193 | 270 | 383 | 720 | 786 | 919 | 923 | 1,623 | 1,586 | 1,346 | 973 | 1,413 |
| Total Liabilities | 1,426 | 1,794 | 2,207 | 2,936 | 2,978 | 3,295 | 3,286 | 4,001 | 4,121 | 4,183 | 3,837 | 4,716 |
| Fixed Assets | 856 | 857 | 858 | 858 | 1,896 | 2,038 | 1,982 | 1,984 | 2,053 | 2,052 | 2,033 | 2,114 |
| CWIP | 84 | 386 | 730 | 1,316 | 331 | 334 | 339 | 342 | 344 | 349 | 349 | 349 |
| Investments | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 9 | 10 | 2 | 1 |
| Other Assets | 485 | 550 | 618 | 761 | 751 | 922 | 964 | 1,674 | 1,715 | 1,772 | 1,454 | 2,251 |
| Total Assets | 1,426 | 1,794 | 2,207 | 2,936 | 2,978 | 3,295 | 3,286 | 4,001 | 4,121 | 4,183 | 3,837 | 4,716 |
Cash Flow
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | −25 | 156 | 80 | 279 | 225 | 145 | 144 | 121 | 81 | 56 | 41 | −233 |
| Investing | −85 | −303 | −346 | −587 | −77 | −71 | −10 | 27 | −3 | −32 | 19 | −1 |
| Financing | 113 | 219 | 228 | 317 | −133 | −87 | −130 | −148 | −76 | −13 | −39 | 210 |
| Net Cash Flow | 3 | 72 | −38 | 9 | 15 | −12 | 4 | 0 | 1 | 11 | 21 | −23 |
| Free Cash Flow | −25 | −147 | −266 | −309 | 148 | 57 | 134 | 119 | 84 | 25 | 53 | −233 |
| CFO/EBITDA | −42 | 233 | 101 | 359 | 208 | 107 | 89 | 78 | 58 | 28 | 23 | −271 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 84 | 105 | 113 | 145 | 105 | 155 | 178 | 269 | 278 | 157 | 114 | 246 |
| Inventory Days | 6 | 0 | 8 | 3 | 25 | 0 | 0 | 15 | 8 | 4 | 4 | 5 |
| Days Payable | 46 | 27 | 31 | 58 | 84 | 103 | 70 | 197 | 156 | 15 | 66 | 141 |
| Cash Conversion Cycle | 44 | 78 | 90 | 90 | 46 | 52 | 108 | 88 | 130 | 146 | 53 | 110 |
| Working Capital Days | 35 | 52 | 61 | −26 | 17 | 39 | 82 | 70 | 100 | 123 | 42 | 77 |
| ROCE % | 7% | 5% | 5% | 4% | 4% | 7% | 6% | 5% | 5% | 8% | 5% | 2% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Veritas insights
56 extracted metrics across FY10–FY27.
Documents
- 12 Aug 2026
- 28 May 2026
- 23 Oct 2024
- 27 Jul 2023
- 2 May 2023
- 1 Feb 2023
- 16 Nov 2022
- General announcements 7 Oct 2026
Frequently Asked Questions about Veritas (India)
What does Veritas (India) Ltd do?
Incorporated in 1985, Veritas India Ltd is in the business of Trading, Distribution, Development, and Wind Power Generation, and Manufacturing & Warehousing.
Where is Veritas (India) Ltd (VERITAS) listed?
Veritas (India) Ltd trades under code 512229 on the BSE.
Which sector does Veritas (India) Ltd belong to?
Veritas (India) Ltd is classified under the Commercial Services sector, in the Trading & Distributors industry.
What is the 52-week high and low of Veritas (India) Ltd?
Over the last 52 weeks Veritas (India) Ltd has traded between ₹132.2 and ₹285 as of 4 Nov 2026.
Does Veritas (India) Ltd pay dividends?
Veritas (India) Ltd has a dividend yield of 0.04%.
What is the Return on Equity (ROE) of Veritas (India) Ltd?
Veritas (India) Ltd reported a return on equity of 0.71%. Its debt-to-equity ratio is 0.15.
Company Information
Incorporated in 1985, Veritas India Ltd is in the business of Trading, Distribution, Development, and Wind Power Generation, and Manufacturing & Warehousing.
Website veritasindia.net
Face Value ₹1
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