Board Change • Jun 13
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Additional Independent Director Sunaina Singh was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Jun 11
Now 25% undervalued Over the last 90 days, the stock has risen 31% to ₹1,193. The fair value is estimated to be ₹1,601, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 16%. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,204, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 26x in the Machinery industry in India. Total returns to shareholders of 92% over the past three years. Reported Earnings • Jun 01
Full year 2026 earnings released: EPS: ₹57.42 (vs ₹52.71 in FY 2025) Full year 2026 results: EPS: ₹57.42 (up from ₹52.71 in FY 2025). Revenue: ₹1.67b (up 7.4% from FY 2025). Net income: ₹258.4m (up 8.9% from FY 2025). Profit margin: 16% (in line with FY 2025). Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 17% per year. Announcement • May 23
Veljan Denison Limited to Report Q4, 2026 Results on May 30, 2026 Veljan Denison Limited announced that they will report Q4, 2026 results at 9:15 AM, Indian Standard Time on May 30, 2026 Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹1,012, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 26x in the Machinery industry in India. Total returns to shareholders of 66% over the past three years. Announcement • Feb 05
Veljan Denison Limited to Report Q3, 2026 Results on Feb 11, 2026 Veljan Denison Limited announced that they will report Q3, 2026 results on Feb 11, 2026 Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: ₹14.79 (vs ₹13.44 in 2Q 2025) Second quarter 2026 results: EPS: ₹14.79 (up from ₹13.44 in 2Q 2025). Revenue: ₹393.8m (up 5.5% from 2Q 2025). Net income: ₹66.5m (up 10.0% from 2Q 2025). Profit margin: 17% (in line with 2Q 2025). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 31
Veljan Denison Limited to Report First Half, 2026 Results on Nov 07, 2025 Veljan Denison Limited announced that they will report first half, 2026 results on Nov 07, 2025 Upcoming Dividend • Aug 15
Upcoming dividend of ₹8.50 per share Eligible shareholders must have bought the stock before 22 August 2025. Payment date: 28 September 2025. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (0.9%). Announcement • Aug 04
Veljan Denison Limited, Annual General Meeting, Aug 29, 2025 Veljan Denison Limited, Annual General Meeting, Aug 29, 2025, at 15:00 Indian Standard Time. Location: a18, a19 a p/e, balanagar, hyderabad - 500037, hyderabad India Reported Earnings • Aug 03
First quarter 2026 earnings released: EPS: ₹16.30 (vs ₹11.31 in 1Q 2025) First quarter 2026 results: EPS: ₹16.30 (up from ₹11.31 in 1Q 2025). Revenue: ₹433.5m (up 18% from 1Q 2025). Net income: ₹73.3m (up 44% from 1Q 2025). Profit margin: 17% (up from 14% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 26
Veljan Denison Limited to Report Q1, 2026 Results on Aug 02, 2025 Veljan Denison Limited announced that they will report Q1, 2026 results at 9:15 AM, Indian Standard Time on Aug 02, 2025 Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,351, the stock trades at a trailing P/E ratio of 25.6x. Average trailing P/E is 34x in the Machinery industry in India. Total returns to shareholders of 151% over the past three years. Reported Earnings • May 31
Full year 2025 earnings released: EPS: ₹52.71 (vs ₹49.05 in FY 2024) Full year 2025 results: EPS: ₹52.71 (up from ₹49.05 in FY 2024). Revenue: ₹1.59b (up 15% from FY 2024). Net income: ₹237.2m (up 7.5% from FY 2024). Profit margin: 15% (down from 16% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 30
Veljan Denison Limited Proposes Final Dividend for the Financial Year Ended on March 31, 2025 Veljan Denison Limited Board of Directors in their meeting held on 30 May, 2025 had inter-alia: Recommended a dividend of INR 8.50/- per equity share (i.e. 85%) of INR 10/- each on the present issued capital of INR 4.50 crores for the financial year ended on March 31, 2025 subject to the approval of the members at the ensuing Annual General Meeting. Announcement • May 21
Veljan Denison Limited to Report Q4, 2025 Results on May 30, 2025 Veljan Denison Limited announced that they will report Q4, 2025 results on May 30, 2025 Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: ₹14.57 (vs ₹12.52 in 3Q 2024) Third quarter 2025 results: EPS: ₹14.57 (up from ₹12.52 in 3Q 2024). Revenue: ₹400.0m (up 14% from 3Q 2024). Net income: ₹65.6m (up 16% from 3Q 2024). Profit margin: 16% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 13
Veljan Denison Limited Announces the Appointment of Ramyanka Yadav K as Company Secretary & Compliance Officer Veljan Denison Limited announced the appointment of Mrs. Ramyanka Yadav K (A45483- ICSI), a member of Institute of Company Secretaries of India (ICSI) as new Company Secretary & Compliance Officer and KMP of the Company w.e.f from the February 13, 2024 who was appointed at the Board Meeting held on February 13, 2025. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹959, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 35x in the Machinery industry in India. Total returns to shareholders of 63% over the past three years. Announcement • Feb 05
Veljan Denison Limited to Report Q3, 2025 Results on Feb 13, 2025 Veljan Denison Limited announced that they will report Q3, 2025 results on Feb 13, 2025 Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹1,408, the stock trades at a trailing P/E ratio of 28x. Average trailing P/E is 40x in the Machinery industry in India. Total returns to shareholders of 178% over the past three years. Reported Earnings • Nov 16
Second quarter 2025 earnings released: EPS: ₹13.44 (vs ₹10.43 in 2Q 2024) Second quarter 2025 results: EPS: ₹13.44 (up from ₹10.43 in 2Q 2024). Revenue: ₹380.0m (up 12% from 2Q 2024). Net income: ₹60.5m (up 29% from 2Q 2024). Profit margin: 16% (up from 14% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 09
Veljan Denison Limited to Report Q2, 2025 Results on Nov 14, 2024 Veljan Denison Limited announced that they will report Q2, 2025 results on Nov 14, 2024 New Risk • Sep 24
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 153% Dividend yield: 1.1% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (153% cash payout ratio). Market cap is less than US$100m (₹7.22b market cap, or US$86.4m). Announcement • Sep 12
Veljan Denison Limited, Annual General Meeting, Sep 30, 2024 Veljan Denison Limited, Annual General Meeting, Sep 30, 2024, at 11:30 Indian Standard Time. Location: plot no. a18 & 19, apie, balanagar, hyderabad 500037., hyderabad India Declared Dividend • Sep 09
Dividend of ₹17.00 announced Shareholders will receive a dividend of ₹17.00. Ex-date: 20th September 2024 Payment date: 30th October 2024 Dividend yield will be 1.1%, which is higher than the industry average of 0.6%. Sustainability & Growth Dividend is covered by both earnings (17% earnings payout ratio) and cash flows (77% cash payout ratio). The dividend has increased by an average of 8.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 4.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: ₹22.61 (vs ₹13.18 in 1Q 2024) First quarter 2025 results: EPS: ₹22.61. Revenue: ₹376.3m (up 17% from 1Q 2024). Net income: ₹50.9m (down 14% from 1Q 2024). Profit margin: 14% (down from 19% in 1Q 2024). The decrease in margin was driven by higher expenses. Announcement • Aug 08
Veljan Denison Limited to Report Q1, 2025 Results on Aug 14, 2024 Veljan Denison Limited announced that they will report Q1, 2025 results on Aug 14, 2024 New Risk • May 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 30% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Reported Earnings • May 24
Full year 2024 earnings released: EPS: ₹49.05 (vs ₹35.61 in FY 2023) Full year 2024 results: EPS: ₹49.05 (up from ₹35.61 in FY 2023). Revenue: ₹1.41b (up 17% from FY 2023). Net income: ₹220.7m (up 38% from FY 2023). Profit margin: 16% (up from 13% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 109% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 24
Veljan Denison Limited Proposes Dividend for the Financial Year Ended on March 31, 2024 Veljan Denison Limited at its board meeting held on 23rd day of May recommended a dividend of INR 17/- per equity share (i.e. 170%) of INR 10/- each on the present issued capital of INR 22.5 million for the financial year ended on March 31, 2024 subject to the approval of the members at the up coming Annual General Meeting. Announcement • May 09
Veljan Denison Limited Approves Board Appointments Veljan Denison Limited at its EGM held on May 06, 2024, approved the following resolutions: appointment of Mr. Manish Mohan Motwani (DIN: 00394860) as an Independent Director of the Company; and appointment of Mr. Velamati Gangadhar Srinivas (DIN: 00181826), as a Non-Executive Director of the Company. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₹2,865, the stock trades at a trailing P/E ratio of 34.5x. Average trailing P/E is 32x in the Machinery industry in India. Total returns to shareholders of 297% over the past three years. Reported Earnings • Feb 09
Third quarter 2024 earnings released: EPS: ₹25.04 (vs ₹17.23 in 3Q 2023) Third quarter 2024 results: EPS: ₹25.04 (up from ₹17.23 in 3Q 2023). Revenue: ₹358.3m (up 18% from 3Q 2023). Net income: ₹56.3m (up 45% from 3Q 2023). Profit margin: 16% (up from 13% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 01
Veljan Denison Limited to Report Q3, 2024 Results on Feb 08, 2024 Veljan Denison Limited announced that they will report Q3, 2024 results on Feb 08, 2024 Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹2,293, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 35x in the Machinery industry in India. Total returns to shareholders of 171% over the past three years. Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: ₹20.86 (vs ₹23.02 in 2Q 2023) Second quarter 2024 results: EPS: ₹20.86 (down from ₹23.02 in 2Q 2023). Revenue: ₹345.3m (up 10.0% from 2Q 2023). Net income: ₹46.9m (down 9.4% from 2Q 2023). Profit margin: 14% (down from 17% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Oct 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (₹4.37b market cap, or US$52.5m). Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹2,108, the stock trades at a trailing P/E ratio of 27.2x. Average trailing P/E is 30x in the Machinery industry in India. Total returns to shareholders of 176% over the past three years. Upcoming Dividend • Sep 15
Upcoming dividend of ₹13.00 per share at 0.7% yield Eligible shareholders must have bought the stock before 22 September 2023. Payment date: 30 October 2023. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.3%). In line with average of industry peers (0.7%). Announcement • Aug 15
Veljan Denison Limited, Annual General Meeting, Sep 30, 2023 Veljan Denison Limited, Annual General Meeting, Sep 30, 2023, at 11:30 Indian Standard Time. Location: A 18 & 19, APIE, IDA, Balanagar Hyderabad India Reported Earnings • Aug 15
First quarter 2024 earnings released: EPS: ₹26.36 (vs ₹20.23 in 1Q 2023) First quarter 2024 results: EPS: ₹26.36 (up from ₹20.23 in 1Q 2023). Revenue: ₹326.6m (up 16% from 1Q 2023). Net income: ₹59.3m (up 30% from 1Q 2023). Profit margin: 18% (up from 16% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Aug 07
Veljan Denison Limited to Report Q1, 2024 Results on Aug 14, 2023 Veljan Denison Limited announced that they will report Q1, 2024 results on Aug 14, 2023 Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹1,685, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 30x in the Machinery industry in India. Total returns to shareholders of 93% over the past three years. Reported Earnings • Jun 02
Full year 2023 earnings released: EPS: ₹71.22 (vs ₹75.01 in FY 2022) Full year 2023 results: EPS: ₹71.22 (down from ₹75.01 in FY 2022). Revenue: ₹1.23b (up 25% from FY 2022). Net income: ₹160.2m (down 5.1% from FY 2022). Profit margin: 13% (down from 17% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 17
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: ₹307.4m (up 10% from 3Q 2022). Net income: ₹38.8m (down 25% from 3Q 2022). Profit margin: 13% (down from 19% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 17
Second quarter 2023 earnings released: EPS: ₹23.02 (vs ₹22.43 in 2Q 2022) Second quarter 2023 results: EPS: ₹23.02 (up from ₹22.43 in 2Q 2022). Revenue: ₹320.0m (up 24% from 2Q 2022). Net income: ₹51.8m (up 2.7% from 2Q 2022). Profit margin: 16% (down from 20% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 01
Veljan Denison Limited Declares Dividend for the Financial Year 2022 Veljan Denison Limited declared a dividend of INR 13.0 per equity share for the Financial Year 2021-22, at the 48th AGM held on September 30, 2022. Upcoming Dividend • Sep 15
Upcoming dividend of ₹13.00 per share Eligible shareholders must have bought the stock before 22 September 2022. Payment date: 30 October 2022. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.6%). Reported Earnings • Aug 16
First quarter 2023 earnings released: EPS: ₹20.23 (vs ₹7.38 in 1Q 2022) First quarter 2023 results: EPS: ₹20.23 (up from ₹7.38 in 1Q 2022). Revenue: ₹282.2m (up 67% from 1Q 2022). Net income: ₹45.5m (up 174% from 1Q 2022). Profit margin: 16% (up from 9.8% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 07
Veljan Denison Limited to Report Q1, 2023 Results on Aug 12, 2022 Veljan Denison Limited announced that they will report Q1, 2023 results at 12:15 PM, Indian Standard Time on Aug 12, 2022 Announcement • Aug 05
Veljan Denison Limited (BSE:505232) completed the acquisition of Adan Corporate Services Limited. Veljan Denison Limited (BSE:505232) signed an share purchase agreement to acquire Adan Corporate Services Limited for €1.40 million on July 6, 2022. The 100% consideration for this acquisition will be payable in cash. Veljan Denison complete the 100% acquisition of shares by August 2022. This acquisition does not fall under related party transactions and the promoter, promoter group, group companies, Directors have no personal interest in the entity being acquired.
Veljan Denison Limited (BSE:505232) completed the acquisition of Adan Corporate Services Limited on August 3, 2022. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improved over the past week After last week's 15% share price gain to ₹1,156, the stock trades at a trailing P/E ratio of 15.4x. Average trailing P/E is 24x in the Machinery industry in India. Total returns to shareholders of 61% over the past three years. Reported Earnings • Jun 03
Full year 2022 earnings released: EPS: ₹75.01 (vs ₹30.47 in FY 2021) Full year 2022 results: EPS: ₹75.01 (up from ₹30.47 in FY 2021). Revenue: ₹1.00b (up 36% from FY 2021). Net income: ₹168.8m (up 146% from FY 2021). Profit margin: 17% (up from 9.3% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • May 31
Veljan Denison Limited Recommends Dividend for the Financial Year Ended March 31, 2022 Veljan Denison Limited recommended dividend of INR 13.00 per equity share (130%) of INR 10.00 each for the financial year ended on March 31, 2022 subject to the approval of the members at the upcoming annual general meeting. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹946, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 24x in the Machinery industry in India. Total returns to shareholders of 27% over the past three years. Announcement • Feb 16
Veljan Denison Limited Approves the Change of Designation of U. Sri Krishna from Executive Director to Executive Director & Chief Executive Officer Veljan Denison Limited announced that the Board of Directors in their meeting held on February 14, 2022, approved the change of designation of Mr. U. Sri Krishna from Executive Director to Executive Director & Chief Executive Officer for the remaining period of his tenure as Executive Director i.e. up to September 14, 2023 and also approve the change in remuneration of Mr. U. Sri Krishna. Reported Earnings • Feb 15
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹22.97 (up from ₹7.67 in 3Q 2021). Revenue: ₹281.9m (up 33% from 3Q 2021). Net income: ₹51.7m (up 200% from 3Q 2021). Profit margin: 18% (up from 8.2% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 03
Investor sentiment improved over the past week After last week's 30% share price gain to ₹1,298, the stock trades at a trailing P/E ratio of 24.1x. Average trailing P/E is 24x in the Machinery industry in India. Total returns to shareholders of 68% over the past three years. Board Change • Sep 15
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Additional Non-Executive Independent Director Narayana Garapaty was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 14
Upcoming dividend of ₹10.00 per share Eligible shareholders must have bought the stock before 21 September 2021. Payment date: 30 October 2021. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.7%). Board Change • Sep 10
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Additional Non-Executive Independent Director Narayana Garapaty was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 08
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Additional Non-Executive Independent Director Narayana Garapaty was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 01
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Additional Non-Executive Independent Director Narayana Garapaty was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Executive Departure • Sep 01
Independent Non-Executive Director Vangala Pattabhi has left the company On the 24th of August, Vangala Pattabhi's tenure as Independent Non-Executive Director ended after 18.1 years in the role. We don't have any record of a personal shareholding under Vangala's name. Vangala is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.42 years. Reported Earnings • Aug 18
First quarter 2022 earnings released: EPS ₹7.38 (vs ₹3.06 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹174.6m (up 76% from 1Q 2021). Net income: ₹16.6m (up ₹23.5m from 1Q 2021). Profit margin: 9.5% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improved over the past week After last week's 17% share price gain to ₹1,137, the stock trades at a trailing P/E ratio of 37.3x. Average trailing P/E is 27x in the Machinery industry in India. Total returns to shareholders of 6.8% over the past three years. Reported Earnings • Jul 03
Full year 2021 earnings released: EPS ₹30.47 (vs ₹59.72 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹753.8m (down 9.0% from FY 2020). Net income: ₹68.6m (down 49% from FY 2020). Profit margin: 9.1% (down from 16% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improved over the past week After last week's 16% share price gain to ₹961, the stock trades at a trailing P/E ratio of 28.9x. Average trailing P/E is 23x in the Machinery industry in India. Total loss to shareholders of 15% over the past three years. Is New 90 Day High Low • Mar 07
New 90-day low: ₹737 The company is down 8.0% from its price of ₹805 on 07 December 2020. The Indian market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 25% over the same period. Reported Earnings • Feb 13
Third quarter 2021 earnings released: EPS ₹7.67 (vs ₹16.84 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹216.6m (down 6.6% from 3Q 2020). Net income: ₹17.3m (down 55% from 3Q 2020). Profit margin: 8.0% (down from 16% in 3Q 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 16% share price gain to ₹903, the stock is trading at a trailing P/E ratio of 21.3x, up from the previous P/E ratio of 18.4x. This compares to an average P/E of 24x in the Machinery industry in India. Total return to shareholders over the past three years is a loss of 13%. Is New 90 Day High Low • Dec 15
New 90-day high: ₹903 The company is up 11% from its price of ₹814 on 16 September 2020. The Indian market is up 16% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Machinery industry, which is also up 11% over the same period. Announcement • Dec 11
Veljan Denison Limited, Annual General Meeting, Dec 31, 2020 Veljan Denison Limited, Annual General Meeting, Dec 31, 2020, at 11:30 Indian Standard Time. Location: Plot No. A 18 & 19, APIE, Balanagar Hyderabad India Reported Earnings • Nov 15
Second quarter 2021 earnings released: EPS ₹9.53 The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₹177.5m (down 14% from 2Q 2020). Net income: ₹21.4m (down 33% from 2Q 2020). Profit margin: 12% (down from 16% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 11% per year. Announcement • Nov 05
Veljan Denison Limited to Report Q2, 2021 Results on Nov 13, 2020 Veljan Denison Limited announced that they will report Q2, 2021 results on Nov 13, 2020 Is New 90 Day High Low • Nov 02
New 90-day low: ₹735 The company is down 10.0% from its price of ₹814 on 04 August 2020. The Indian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 12% over the same period. Is New 90 Day High Low • Oct 14
New 90-day low: ₹760 The company is down 3.0% from its price of ₹783 on 16 July 2020. The Indian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 10.0% over the same period. Announcement • Sep 08
Veljan Denison Limited to Report Q1, 2021 Results on Sep 15, 2020 Veljan Denison Limited announced that they will report Q1, 2021 results on Sep 15, 2020 Announcement • Jul 25
Veljan Denison Limited to Report Fiscal Year 2020 Results on Jul 31, 2020 Veljan Denison Limited announced that they will report fiscal year 2020 results on Jul 31, 2020 
