5
Veritas
VERITASINDIALTD NSE
Veritas
Commercial ServicesNSE: VERITASINDIALTD BSE: 512229 Trading & Distributors
Key Fundamentals
MicrocapTrading & DistributorsCommercial ServicesMarket Cap
₹445 Cr
Volatility
Moderate
P/E Ratio
-575.9
EBITDA
₹88.20 Cr
Return on Equity
0.69%
Debt to Equity
0.15
Book Value
₹1,068.34
EPS
₹78.25
52W High
₹373.5
52W Low
₹132.2
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Stock is trading at 0.15 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.
Growth Rate
Revenue Growth
-24.09% lower than
3Y
Net Income Growth
-82.66% lower than
3Y
Cash Flow Change
-663% lower than
3Y
ROE
-83.8% lower than
3Y
ROCE
-71.95% higher than
3Y
EBITDA Margin (Avg.)
-40.04% higher than
3Y
Quarterly Results
| 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 in Rs | 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
| 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 in Rs | 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
| 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
| 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/OP | -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
55 extracted metrics + investor summaries across FY10–FY26.
Documents
1
Non-Applicability Of Disclosure Of Large Entity/Large Corporate For The Financial Year Ended March 2026.
30 Apr - Veritas confirms it is not a SEBI-defined Large Corporate; disclosure framework not applicable. 30 Apr - Veritas confirms it is not a SEBI-defined Large Corporate; disclosure framework not applicable.
2
Non-Applicability Of Disclosure Of Large Entity/Large Corporate For The Financial Year Ended March 2026.
30 Apr - Veritas confirms it is not a SEBI-defined Large Corporate; disclosure framework not applicable. 30 Apr - Veritas confirms it is not a SEBI-defined Large Corporate; disclosure framework not applicable.
3
Announcement under Regulation 30 (LODR)-Change in Directorate
14 Apr - Shareholders approved Jayaramakrishnan Kannan as independent director for five years from February 5, 2026. 14 Apr - Shareholders approved Jayaramakrishnan Kannan as independent director for five years from February 5, 2026.
4
Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
13 Apr - Postal ballot approved appointment of Jayaramakrishnan Kannan as Non-Executive Independent Director on April 13, 2026. 13 Apr - Postal ballot approved appointment of Jayaramakrishnan Kannan as Non-Executive Independent Director on April 13, 2026.
5
Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot
13 Apr - Postal ballot approved appointment of Mr. Jayaramakrishnan Kannan as Independent Director on April 13, 2026. 13 Apr - Postal ballot approved appointment of Mr. Jayaramakrishnan Kannan as Independent Director on April 13, 2026.
Frequently Asked Questions about Veritas
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.[1]
Where is Veritas (India) Ltd (512229) listed?
Veritas (India) Ltd trades as VERITASINDIALTD on the NSE and 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 market capitalisation of Veritas (India) Ltd?
Veritas (India) Ltd has a market capitalisation of ₹445.02 Cr, which places it in the Small Cap band.
What is the PE ratio of Veritas (India) Ltd?
Veritas (India) Ltd trades at a PE ratio of -575.90, on earnings per share of ₹78.25, against a book value of ₹1,068.34 per share.
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 ₹373.5.
Does Veritas (India) Ltd pay dividends?
Veritas (India) Ltd has a dividend yield of 0.03%.
What is the Return on Equity (ROE) of Veritas (India) Ltd?
Veritas (India) Ltd reported a return on equity of 0.69%. 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.[1]
Website veritasindia.net
Face Value ₹ 1
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