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Veto Switchgear Cable

Veto Switchgears & Cables Ltd

VETO NSE
₹123.77 +2.35 (+1.94%)
P/E
8.64
View as Markdown
MCP
Close 4 Nov 2026 ₹123.77 +7.47 +6.42% 1Y
Start ₹116.30

Key Fundamentals

MicrocapConsumer DurablesConsumer Discretionary

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
11.60%
Debt to Equity
0.07
EPS (TTM)
₹14.32
Book Value
₹151.55
Market Cap
—
P/E (TTM)
8.64
P/B
0.82
ROE
8.84%
Dividend Yield
0.82%
EBITDA
₹39.70 Cr
52W High
₹155.90
52W Low
₹82.32
Day Range
₹120.01 – ₹124.40
Volume
17,970

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

69 Strong

Data confidence 100/100

Category scores

Quality
63
Good
Returns, margins, earnings quality 22% weight
Valuation
71
Strong
Cheap vs sector & own history 24% weight
Growth
83
Strong
Sales & profit trajectory 9% weight
Financial Health
80
Strong
Solvency, leverage, coverage 9% weight
Momentum
77
Strong
Trend strength, vol-adjusted 12% weight
Ownership
56
Good
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

3
  • Company is almost debt free.
  • Stock is trading at 0.90 times its book value
  • Company is expected to give good quarter

Weaknesses

3
  • Company has a low return on equity of 8.35% over last 3 years.
  • Dividend payout has been low at 8.97% of profits over last 3 years
  • Company has high debtors of 155 days.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish856
OscillatorsNeutral252
Moving AveragesStrong Bearish604

Key readings

RSI (14)
43.75
Neutral
MACD (12,26,9)
−3.60
Bearish
SMA (50)
131.20
Bearish
SMA (200)
117.55
Bullish

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

Revenue growth by window
10Y+8.14%
5Y+16.41%
3Y+10.10%
1Y+29.00%
TTM+35.25%

Net profit

Net profit growth by window
10Y+6.76%
5Y+10.76%
3Y+7.72%
1Y+13.64%
TTM+32.55%

Operating cash flow

Operating cash flow growth by window
10Y−7.15%
5Y+7.39%
3Y−17.79%
1Y−33.33%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−4.87 pp
5Y−3.44 pp
3Y−1.56 pp
1Y−0.85 pp
TTM−0.22 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹239 Cr
Mar 2018₹253 Cr
Mar 2019₹218 Cr
Mar 2020₹150 Cr
Mar 2021₹181 Cr
Mar 2022₹267 Cr
Mar 2023₹290 Cr
Mar 2024₹300 Cr
Mar 2025₹300 Cr
Mar 2026₹387 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹18.00 Cr
Mar 2018₹29.00 Cr
Mar 2019₹12.00 Cr
Mar 2020₹9.00 Cr
Mar 2021₹15.00 Cr
Mar 2022₹20.00 Cr
Mar 2023₹20.00 Cr
Mar 2024₹18.00 Cr
Mar 2025₹22.00 Cr
Mar 2026₹25.00 Cr

Quarterly Results

₹ Cr
VETO quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
66.96
71.64
82.05
79.44
61.21
74.28
75.71
89.18
64.87
88.77
94.22
139
89.36
Expenses
59.13
61.63
73.33
75.12
54.11
65.72
70.52
78.34
58.57
80.4
84.41
126
79.92
Operating Profit
7.83
10.01
8.72
4.32
7.1
8.56
5.19
10.84
6.3
8.37
9.81
13.26
9.44
OPM %
11.69%
13.97%
10.63%
5.44%
11.6%
11.52%
6.86%
12.16%
9.71%
9.43%
10.41%
9.55%
10.56%
Other Income
0.41
0.34
0.39
3.59
0.42
0.15
1.45
0.52
0.35
0.85
0.55
0.19
0.53
Interest
0.97
1.57
0.87
0.73
0.39
0.04
0.5
0.71
0.63
0.37
0.47
0.51
0.74
Depreciation
0.76
0.7
0.79
0.48
0.63
0.66
0.93
0.84
1.09
1.02
1.13
1.09
1.01
PBT
6.51
8.08
7.45
6.7
6.5
8.01
5.22
9.81
4.93
7.83
8.76
11.85
8.22
Tax %
24.88%
25.12%
34.36%
66.87%
24.92%
25.47%
30.33%
25.18%
30.22%
22.48%
28.42%
25.74%
28.83%
Net Profit
4.9
6.05
4.89
2.23
4.88
5.97
3.63
7.34
3.43
6.08
6.27
8.8
5.85
EPS (₹)
2.54
3.13
2.5
1.11
2.54
3.09
1.96
3.94
1.93
3.18
3.45
4.59
3.1

Profit & Loss

₹ Cr
VETO profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
97
177
239
253
218
150
181
267
290
300
300
387
411
Expenses
82
151
214
212
197
131
158
233
257
269
269
349
370
Operating Profit
15
26
25
41
21
19
24
34
33
31
32
38
41
OPM %
16%
15%
11%
16%
10%
13%
13%
13%
11%
10%
11%
10%
10%
Other Income
1
−4
2
2
0
1
2
3
5
5
3
2
2
Interest
4
5
4
3
4
4
2
4
5
4
2
2
2
Depreciation
2
2
2
2
1
2
2
3
3
3
3
4
4
PBT
10
15
21
39
16
14
21
30
30
29
30
33
37
Tax %
27%
15%
14%
26%
27%
33%
31%
32%
33%
37%
26%
26%
—
Net Profit
7
13
18
29
12
9
15
20
20
18
22
25
27
EPS (₹)
3.9
7.14
10
15.81
6.05
4.85
7.74
10.47
10.59
9.39
11.58
13.15
14.32
Div. Payout %
0%
28%
20%
13%
0%
0%
13%
10%
9%
11%
9%
8%
—

Balance Sheet

₹ Cr
VETO balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
18
18
18
18
19
19
19
19
19
19
19
19
Reserves
54
63
83
130
148
159
175
194
214
227
247
271
Borrowings
35
42
31
38
40
26
35
47
43
23
23
21
Other Liabilities
14
19
13
16
13
16
45
49
45
37
69
87
Total Liabilities
121
142
145
202
220
220
274
309
321
306
358
398
Fixed Assets
22
21
20
23
30
40
44
43
40
41
51
49
CWIP
0
3
8
7
0
3
2
3
7
9
11
13
Investments
0
0
0
0
0
0
0
0
0
0
0
0
Other Assets
99
118
118
171
190
177
227
263
274
256
296
336
Total Assets
121
142
145
202
220
220
274
309
321
306
358
398

Cash Flow

₹ Cr
VETO cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−2
21
20
−25
11
31
7
−8
18
28
15
10
Investing
3
−8
−12
4
−2
−11
−7
0
−2
−8
−18
−4
Financing
−5
0
−21
21
3
−19
−3
4
−10
−27
−3
−5
Net Cash Flow
−4
14
−13
0
12
1
−4
−3
6
−8
−6
1
Free Cash Flow
−4
18
14
−29
9
18
4
−9
13
22
−5
6
CFO/OP
−1
93
88
−49
98
188
56
2
91
130
76
57

Ratios

VETO financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
125
86
86
154
102
145
183
162
171
162
179
155
Inventory Days
141
100
70
86
207
314
320
231
182
156
160
134
Days Payable
58
30
15
15
17
34
92
65
52
40
48
46
Cash Conversion Cycle
208
156
140
225
292
425
411
328
300
278
291
243
Working Capital Days
133
58
93
164
198
282
279
225
229
231
242
207
ROCE %
13%
21%
20%
26%
10%
9%
11%
14%
13%
12%
11%
12%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Veto Switchgear Cable insights

62 extracted metrics across FY12–FY27.

Shareholding Pattern

As of Sep 2026

  • Public 46.84%
  • Promoters 45.06%
  • Others 7.44%
  • FIIs 0.66%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

  • Q3 FY21 concall · Feb 2021
    PPT

Frequently Asked Questions about Veto Switchgear Cable

What does Veto Switchgears & Cables Ltd do?
Incorporated in 2007, Veto Switchgears & Cables Ltd manufactures wires & cables, electrical accessories & also deals in LED lighting, CFL & Fans
Where is Veto Switchgears & Cables Ltd (VETO) listed?
Veto Switchgears & Cables Ltd trades as VETO on the NSE and under code 539331 on the BSE.
Which sector does Veto Switchgears & Cables Ltd belong to?
Veto Switchgears & Cables Ltd is classified under the Consumer Goods sector, in the Electronics industry.
What is the PE ratio of Veto Switchgears & Cables Ltd?
Veto Switchgears & Cables Ltd trades at a PE ratio of 8.64 as of 4 Nov 2026, on earnings per share of ₹14.32, against a book value of ₹151.55 per share.
What is the 52-week high and low of Veto Switchgears & Cables Ltd?
Over the last 52 weeks Veto Switchgears & Cables Ltd has traded between ₹82.32 and ₹155.9 as of 4 Nov 2026.
Does Veto Switchgears & Cables Ltd pay dividends?
Veto Switchgears & Cables Ltd has a dividend yield of 0.82%.
What is the Return on Equity (ROE) of Veto Switchgears & Cables Ltd?
Veto Switchgears & Cables Ltd reported a return on equity of 8.84%. Its debt-to-equity ratio is 0.07.

Company Information

Incorporated in 2007, Veto Switchgears & Cables Ltd manufactures wires & cables, electrical accessories & also deals in LED lighting, CFL & Fans

Website vetoswitchgears.com
CEO Mr. Akshay Kumar Gurnani
Employees 336
Listed 29 Apr 2015
Face Value ₹10

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