Veto Switchgears And Cables Limited

NSE: VETO · Unclassified

₹126.67-1.13%06 Nov 2026

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Instant answers about Veto Switchgears And Cables Limited — computed from its filings, no language model

Market cap₹242 cr

Current price₹126.67

High / Low₹150 / ₹84

P/E11.6

P/B0.80

Book value₹159.0

ROE6.9%

ROCE13.0%

Debt / equity0.07

Dividend yield0.79%

EPS (TTM)₹10.94

Face value₹10

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 9 periods

	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	253.6	218.3	150.2	181.2	267.8	291.1	300.1	300.4	386.7
EBITDA	41.3	20.9	18.9	23.6	33.9	33.6	30.9	31.7	37.7
Operating margin	16.3%	9.6%	12.6%	13.0%	12.7%	11.5%	10.3%	10.5%	9.8%
Interest	2.8	3.9	3.7	1.9	4.0	4.8	4.1	1.6	2.0
Depreciation	1.6	1.5	1.9	2.0	3.3	2.8	2.7	3.1	4.3
Profit before tax	38.9	16.0	13.9	21.2	29.8	30.4	28.8	29.5	33.4
Tax	9.9	4.4	4.6	6.5	9.6	10.0	10.7	7.7	8.8
Net profit	29.0	11.6	9.3	14.8	20.2	20.2	17.9	0.0	0.0
EPS ₹	15.81	6.09	4.88	7.76	10.56	10.70	9.45	11.41	13.15
Operating cash flow	—	—	—	—	-8.4	18.0	26.9	15.0	10.4
Capex	—	—	—	—	1.3	5.1	-5.8	19.8	5.2
Dividend paid	—	—	—	—	1.9	1.9	-1.9	1.9	1.9
Total assets	—	—	—	—	—	321.3	306.2	332.2	397.9
Equity	—	—	—	—	—	232.9	246.2	266.4	289.7

Quarterly performance

last 34 quarters · ₹ crore

showing latest 8 of 34 periods

	MAR '18	SEP '18	DEC '18	MAR '19	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	70.4	57.7	56.3	46.9	35.6	37.0	38.7	38.9	23.1	42.2	51.2	64.8	42.0	75.4	71.4	79.0	59.9	75.5	71.7	84.1	67.0	71.6	82.0	79.4	61.2	74.3	75.7	89.2	64.9	88.8	94.2	138.9	89.4	118.2
Operating profit	10.9	3.9	3.3	4.6	4.1	4.5	6.2	4.0	4.0	3.6	8.8	7.2	4.9	9.4	12.2	7.3	9.6	10.7	6.5	6.2	7.8	10.0	8.7	4.3	7.1	8.6	5.2	10.8	6.3	8.4	9.8	13.3	9.4	12.2
Operating margin	15.5%	6.8%	5.8%	9.9%	11.4%	12.1%	15.9%	10.2%	17.4%	8.6%	17.1%	11.2%	11.7%	12.5%	17.1%	9.3%	16.1%	14.1%	9.1%	7.4%	11.7%	14.0%	10.6%	5.5%	11.6%	11.5%	6.9%	12.2%	9.7%	9.4%	10.4%	9.5%	10.6%	10.3%
Other income	0.8	0.2	0.1	0.1	0.0	0.3	0.2	0.2	0.3	0.2	0.2	0.7	0.2	0.3	0.2	2.4	0.3	0.3	1.9	1.8	0.4	0.3	0.4	3.6	0.4	0.1	1.4	0.5	0.3	0.8	0.6	0.2	0.5	0.6
Interest	0.9	0.9	0.9	1.1	1.0	1.1	0.9	0.7	0.5	0.4	0.3	0.7	0.9	0.9	1.0	1.1	1.1	0.7	0.9	1.4	1.0	1.6	0.9	0.7	0.4	0.0	0.5	0.7	0.6	0.4	0.5	0.5	0.7	0.4
Depreciation	0.4	0.3	0.3	0.5	0.4	0.4	0.4	0.5	0.6	0.4	0.5	0.6	0.7	0.8	0.8	1.1	0.8	0.7	0.7	0.7	0.8	0.7	0.8	0.5	0.6	0.7	0.9	0.8	1.1	1.0	1.1	1.1	1.0	1.2
Profit before tax	10.3	2.8	2.0	3.1	2.6	3.3	5.1	2.9	3.2	3.1	8.2	6.7	3.5	8.1	10.7	7.5	8.1	9.6	6.8	6.0	6.5	8.1	7.5	6.7	6.5	8.0	5.2	9.8	4.9	7.8	8.8	11.8	8.2	11.2
Tax	3.2	0.1	0.7	2.0	1.0	1.0	1.5	1.2	1.0	1.1	2.2	2.3	1.0	3.5	2.6	2.5	1.6	2.5	2.1	3.8	1.6	2.0	2.6	4.5	1.6	2.5	1.6	2.5	1.5	1.8	2.5	3.0	2.4	3.1
Net profit	7.1	2.7	1.3	1.1	1.6	2.3	3.6	1.7	2.3	2.0	6.0	4.5	2.5	4.5	8.1	5.0	6.4	7.0	4.7	2.0	4.8	6.0	4.8	2.1	4.8	5.9	3.7	0.0	0.0	6.1	6.6	0.0	5.9	8.4
EPS ₹	3.88	1.42	0.70	0.58	0.86	1.21	1.89	0.90	1.18	1.05	3.12	2.40	1.34	2.39	4.26	2.57	3.40	3.69	2.46	1.15	2.56	3.16	2.56	1.17	2.55	3.12	1.90	3.84	1.80	3.18	3.45	4.59	3.10	4.39
Revenue YoY	—	—	—	-33.4%	—	-35.9%	-31.2%	-17.2%	-35.3%	13.9%	32.3%	66.8%	82.4%	78.8%	39.5%	21.8%	42.3%	0.1%	0.4%	6.6%	11.9%	-5.0%	14.5%	-5.6%	-8.6%	3.7%	-7.7%	12.3%	6.0%	19.5%	24.4%	55.7%	37.8%	33.1%
Profit YoY	—	—	—	-84.4%	—	-14.1%	171.4%	55.9%	37.8%	-12.6%	65.4%	163.0%	12.8%	123.3%	35.3%	11.0%	152.2%	54.3%	-42.1%	-60.4%	-24.6%	-14.1%	2.1%	6.0%	0.0%	-1.2%	-21.8%	-100.0%	-100.0%	2.7%	76.2%	—	—	38.4%

Earlier results (standalone, Jun '15 – Dec '17)

₹ crore · from BSE, before the NSE XBRL filings begin

Veto Switchgears And Cables Limited reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

	FY16†	FY17†
Revenue	112.1	120.3
Operating profit	19.9	16.7
Operating margin	17.7%	13.9%
Other income	0.8	4.4
Interest	4.5	4.1
Depreciation	2.0	1.7
Profit before tax	9.9	15.3
Tax	2.3	3.2
Net profit	7.7	12.2

Quarters

showing latest 8 of 11 periods

	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†
Revenue	20.8	28.2	29.1	34.0	31.6	31.1	24.5	33.1	22.6	27.5	30.3
Operating profit	3.2	4.8	4.7	7.2	4.8	4.5	2.7	4.6	4.0	8.2	6.2
Operating margin	15.2%	17.2%	16.2%	21.1%	15.3%	14.4%	11.2%	13.9%	17.4%	30.0%	20.4%
Other income	0.1	0.0	0.1	0.6	0.5	0.7	2.6	0.8	0.8	3.0	1.2
Interest	1.1	1.1	1.0	1.3	1.1	1.0	1.1	0.9	—	0.4	0.7
Depreciation	0.5	0.5	0.5	0.5	0.4	0.4	0.4	0.4	0.4	0.4	0.4
Profit before tax	1.7	3.3	-1.0	6.0	3.8	3.7	3.8	4.0	4.4	10.5	6.3
Tax	0.5	0.9	-0.1	1.0	0.8	0.8	0.6	0.9	0.9	3.6	2.2
Net profit	1.1	2.4	-0.9	5.0	3.0	2.9	3.2	3.1	3.5	7.0	4.2
EPS ₹	0.61	1.32	-0.47	2.72	1.62	1.59	1.73	1.71	1.94	3.80	2.25
Revenue YoY	—	—	—	—	51.9%	10.3%	-15.9%	-2.4%	-28.4%	-11.6%	23.8%
Profit YoY	—	—	—	—	164.3%	21.2%	—	-36.9%	19.9%	138.0%	31.2%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 30 periods

	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	—	—	—	—	—	—	—	—	—	—	—	—	—	11.7%	10.2%	8.6%	7.9%	7.2%	7.2%	7.2%	7.2%	6.9%	6.5%	5.4%	3.6%	3.6%	4.6%	4.4%	6.4%	6.9%
ROCE	—	—	—	—	—	—	—	—	—	—	—	—	—	14.3%	12.8%	12.5%	11.9%	11.1%	11.3%	12.3%	12.0%	11.5%	10.5%	10.8%	10.3%	10.3%	11.5%	11.4%	12.5%	13.0%
Net margin	3.4%	3.6%	5.5%	6.2%	7.2%	6.7%	7.7%	8.2%	7.5%	7.5%	7.8%	7.5%	8.4%	9.3%	8.1%	6.9%	6.2%	5.9%	5.8%	5.9%	6.0%	5.9%	5.7%	4.8%	3.2%	3.1%	3.8%	3.3%	4.5%	4.7%
EBITDA margin	8.1%	9.3%	12.2%	12.4%	13.5%	12.4%	13.1%	13.0%	12.3%	13.0%	13.3%	12.7%	13.5%	13.9%	11.9%	11.3%	10.5%	10.4%	10.8%	10.3%	10.3%	9.7%	8.7%	10.6%	10.2%	9.6%	10.5%	9.8%	9.9%	10.1%
Debt / equity	—	—	—	—	—	—	—	—	—	—	—	—	—	0.23	0.23	0.18	0.18	0.19	0.19	0.09	0.09	0.04	0.04	0.09	0.09	0.06	0.06	0.07	0.07	0.07
Interest coverage	3.61	3.65	4.44	4.78	5.64	6.80	10.17	12.36	10.51	10.50	9.28	8.53	9.27	10.07	9.24	8.33	8.14	6.59	6.81	7.94	9.07	15.12	16.93	19.01	15.88	13.57	15.37	17.85	18.54	20.14
Asset turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	0.87	0.87	0.91	0.93	0.87	0.90	0.98	0.96	0.94	0.92	0.90	0.92	0.91	0.96	0.97	1.03	1.02

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 9 periods

	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	19.1	19.1	19.1	19.1	19.1	19.1	19.1	19.1	19.1
Other equity / reserves	208.1	213.8	225.2	227.1	237.9	247.3	257.1	270.6	284.9
Total equity	227.2	232.9	244.3	246.2	257.1	266.4	276.2	289.7	304.0
Borrowings	51.6	42.9	47.2	22.1	11.0	22.8	16.0	21.4	20.3
Current liabilities	85.0	70.4	77.6	50.0	49.8	58.4	68.2	101.2	117.1
Non-current liabilities	16.6	17.1	17.2	8.9	8.5	6.4	6.5	6.5	9.4
Total assets	329.7	321.3	340.1	306.2	316.4	332.2	351.7	397.9	430.4
Property, plant & equipment	26.5	26.6	25.9	27.5	27.5	37.6	37.5	36.2	49.8
Capital work-in-progress	4.1	6.5	7.9	9.4	17.1	11.5	12.0	13.1	0.0
Investments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Inventories	125.9	104.9	113.2	94.4	107.3	94.8	110.2	102.8	117.9
Receivables	121.7	138.6	133.5	133.0	127.1	147.2	146.1	163.8	163.8
Cash & equivalents	20.2	15.2	28.2	7.5	1.8	1.1	1.6	1.9	3.5

Cash flow

annual · ₹ crore · line = free cash flow

	FY22	FY23	FY24	FY25	FY26
Cash from operations	-8.4	18.0	26.9	15.0	10.4
Cash from investing	-0.2	-4.2	3.9	-18.5	-4.2
Cash from financing	4.8	-9.9	-23.5	-3.0	-5.3
Capex	1.3	5.1	-5.8	19.8	5.2
Free cash flow	-9.7	12.9	32.8	-4.8	5.2
Dividends paid	1.9	1.9	-1.9	1.9	1.9

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹49.8 cr12%

Investments

₹0.0 cr0%

Inventories

₹117.9 cr27%

Receivables

₹163.8 cr38%

Cash & equivalents

₹3.5 cr1%

Other assets

₹95.5 cr22%

Peer comparison

largest in Unclassified · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Avantel Limited	36,86,04,549	138.69	—	1059360.68	0.0%
Ducol Organics And Colours Limited	19,55,275	120.00	—	20089.13	0.0%
Jio Platforms Limited	12,57,181	1,406.40	—	3.57	—
SBI Funds Management Limited	1,01,750	499.55	—	—	—
Tamilnadu Telecommunication Limited	91,314	9.93	—	—	—
Manipal Health Enterprises Limited	76,294	646.70	—	—	—
INDO-MIM Limited	59,042	1,219.50	—	—	—
AvenuesAI Limited	45,138	129.25	153.6	9.51	6.2%
Dhoot Transmission Limited	32,761	1,601.60	—	8.11	—
3M India Limited	31,071	27,570.00	53.8	17.57	32.7%
Veto Switchgears And Cables Limited	242	126.67	11.6	0.80	6.9%

StoxGud checklist: Bullish setup · 7/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-8.5%

6 months+8.2%

1 year+3.3%

3Y CAGR+2.9%

5Y CAGR+1.6%

10Y CAGR-2.7%

50-day avg₹131.10

200-day avg₹117.81

RSI (14)42

FAQs

What is the share price of Veto Switchgears And Cables Limited?

Veto Switchgears And Cables Limited (VETO) closed at ₹126.67 on NSE on 06 Nov 2026.

What is the market cap of Veto Switchgears And Cables Limited?

₹242 crore at the latest close.

What is the P/E ratio of Veto Switchgears And Cables Limited?

11.6, on trailing-twelve-month earnings from its filings.

How fast is Veto Switchgears And Cables Limited growing?

Veto Switchgears And Cables Limited: revenue has compounded at 9.9% a year over three years. Latest-quarter revenue is up 33.1% year on year, profit up 38.4%.

How profitable is Veto Switchgears And Cables Limited?

On a trailing-twelve-month basis return on equity is 6.9%, return on capital employed 13.0%, operating margin 10.1%, net margin 4.7%.

How much debt does Veto Switchgears And Cables Limited have?

Veto Switchgears And Cables Limited is lightly geared: debt to equity is 0.07 with borrowings of ₹20 cr against cash of ₹3 cr (balance sheet of 2026-09-30). Operating profit covers interest 20.1 times.

Financials parsed from Veto Switchgears And Cables Limited's own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from MAR '18, annual from FY18, balance sheet from Sep '22. * = derived (full year or half year minus earlier quarters). Information only, not investment advice.