Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹97.65, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 24x in the Electrical industry in India. Total returns to shareholders of 17% over the past three years. Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: ₹3.45 (vs ₹1.90 in 3Q 2025) Third quarter 2026 results: EPS: ₹3.45 (up from ₹1.90 in 3Q 2025). Revenue: ₹947.7m (up 25% from 3Q 2025). Net income: ₹65.9m (up 81% from 3Q 2025). Profit margin: 7.0% (up from 4.8% in 3Q 2025). 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 and the company’s share price has also increased by 2% per year. Announcement • Feb 09
Veto Switchgears and Cables Limited to Report Q3, 2026 Results on Feb 13, 2026 Veto Switchgears and Cables Limited announced that they will report Q3, 2026 results on Feb 13, 2026 Reported Earnings • Nov 16
Second quarter 2026 earnings released: EPS: ₹3.18 (vs ₹3.12 in 2Q 2025) Second quarter 2026 results: EPS: ₹3.18 (up from ₹3.12 in 2Q 2025). Revenue: ₹896.2m (up 21% from 2Q 2025). Net income: ₹60.7m (up 2.6% from 2Q 2025). Profit margin: 6.8% (down from 8.0% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has remained flat. Announcement • Nov 11
Veto Switchgears and Cables Limited to Report Q2, 2026 Results on Nov 14, 2025 Veto Switchgears and Cables Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Board Change • Oct 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Non-Executive Independent Director Sanjeev Dass was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Sep 06
Dividend of ₹1.00 announced Dividend of ₹1.00 is the same as last year. Ex-date: 22nd September 2025 Payment date: 29th October 2025 Dividend yield will be 0.9%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is covered by earnings (9% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 05
Veto Switchgears and Cables Limited announces Annual dividend, payable on October 29, 2025 Veto Switchgears and Cables Limited announced Annual dividend of INR 1.0000 per share payable on October 29, 2025, ex-date on September 22, 2025 and record date on September 22, 2025. Announcement • Sep 01
Veto Switchgears and Cables Limited, Annual General Meeting, Sep 29, 2025 Veto Switchgears and Cables Limited, Annual General Meeting, Sep 29, 2025, at 15:00 Indian Standard Time. Reported Earnings • Aug 15
First quarter 2026 earnings released: EPS: ₹1.80 (vs ₹2.55 in 1Q 2025) First quarter 2026 results: EPS: ₹1.80 (down from ₹2.55 in 1Q 2025). Revenue: ₹652.2m (up 6.6% from 1Q 2025). Net income: ₹36.9m (down 24% from 1Q 2025). Profit margin: 5.7% (down from 7.9% in 1Q 2025). The decrease in margin was driven by higher expenses. 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 3% per year, which means it is well ahead of earnings. Announcement • Aug 06
Veto Switchgears and Cables Limited to Report Q1, 2026 Results on Aug 13, 2025 Veto Switchgears and Cables Limited announced that they will report Q1, 2026 results on Aug 13, 2025 Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹132, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 40x in the Electrical industry in India. Total returns to shareholders of 49% over the past three years. New Risk • May 29
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 6.6% 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.6% average weekly change). Market cap is less than US$100m (₹2.10b market cap, or US$24.5m). Reported Earnings • May 29
Full year 2025 earnings released: EPS: ₹11.41 (vs ₹9.39 in FY 2024) Full year 2025 results: EPS: ₹11.41 (up from ₹9.39 in FY 2024). Revenue: ₹3.03b (flat on FY 2024). Net income: ₹221.3m (up 23% from FY 2024). Profit margin: 7.3% (up from 6.0% in FY 2024). 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 23
Veto Switchgears and Cables Limited to Report Q4, 2025 Results on May 28, 2025 Veto Switchgears and Cables Limited announced that they will report Q4, 2025 results on May 28, 2025 Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: ₹1.90 (vs ₹2.56 in 3Q 2024) Third quarter 2025 results: EPS: ₹1.90 (down from ₹2.56 in 3Q 2024). Revenue: ₹771.6m (down 6.4% from 3Q 2024). Net income: ₹36.3m (down 24% from 3Q 2024). Profit margin: 4.7% (down from 5.8% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹103, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 39x in the Electrical industry in India. Negligible returns to shareholders over past three years. Announcement • Feb 06
Veto Switchgears and Cables Limited to Report Q3, 2025 Results on Feb 13, 2025 Veto Switchgears and Cables Limited announced that they will report Q3, 2025 results on Feb 13, 2025 Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹115, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 42x in the Electrical industry in India. Total returns to shareholders of 8.1% over the past three years. Reported Earnings • Nov 15
Second quarter 2025 earnings released: EPS: ₹3.12 (vs ₹3.16 in 2Q 2024) Second quarter 2025 results: EPS: ₹3.12 (down from ₹3.16 in 2Q 2024). Revenue: ₹744.3m (up 3.4% from 2Q 2024). Net income: ₹59.1m (down 1.1% from 2Q 2024). Profit margin: 7.9% (down from 8.3% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Declared Dividend • Sep 05
Dividend of ₹1.00 announced Dividend of ₹1.00 is the same as last year. Ex-date: 20th September 2024 Payment date: 28th October 2024 Dividend yield will be 0.6%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is well covered by both earnings (11% earnings payout ratio) and cash flows (9% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 27% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Aug 30
Now 22% undervalued Over the last 90 days, the stock has risen 43% to ₹174. The fair value is estimated to be ₹224, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years, while earnings per share has been flat. Announcement • Aug 29
Veto Switchgears and Cables Limited, Annual General Meeting, Sep 28, 2024 Veto Switchgears and Cables Limited, Annual General Meeting, Sep 28, 2024, at 15:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹188, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 53x in the Electrical industry in India. Total returns to shareholders of 78% over the past three years. Reported Earnings • Aug 14
First quarter 2025 earnings released: EPS: ₹2.55 (vs ₹2.56 in 1Q 2024) First quarter 2025 results: EPS: ₹2.55. Revenue: ₹616.3m (down 8.5% from 1Q 2024). Net income: ₹48.5m (flat on 1Q 2024). Profit margin: 7.9% (up from 7.2% in 1Q 2024). The increase in margin was driven by lower expenses. Announcement • Aug 06
Veto Switchgears and Cables Limited to Report Q1, 2025 Results on Aug 13, 2024 Veto Switchgears and Cables Limited announced that they will report Q1, 2025 results on Aug 13, 2024 Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹161, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 54x in the Electrical industry in India. Total returns to shareholders of 18% over the past three years. Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: ₹9.45 (vs ₹10.59 in FY 2023) Full year 2024 results: EPS: ₹9.45 (down from ₹10.59 in FY 2023). Revenue: ₹3.05b (up 3.9% from FY 2023). Net income: ₹179.5m (down 11% from FY 2023). Profit margin: 5.9% (down from 6.9% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jun 04
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to ₹112. The fair value is estimated to be ₹147, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 9.7%. Announcement • May 24
Veto Switchgears and Cables Limited to Report Q4, 2024 Results on May 29, 2024 Veto Switchgears and Cables Limited announced that they will report Q4, 2024 results on May 29, 2024 Buy Or Sell Opportunity • Apr 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.0% to ₹123. The fair value is estimated to be ₹153, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 9.7%. Buy Or Sell Opportunity • Mar 27
Now 20% undervalued Over the last 90 days, the stock has risen 5.3% to ₹122. The fair value is estimated to be ₹153, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 9.7%. Buy Or Sell Opportunity • Mar 12
Now 23% undervalued Over the last 90 days, the stock has risen 1.0% to ₹121. The fair value is estimated to be ₹156, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 9.7%. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹147, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 40x in the Electrical industry in India. Total returns to shareholders of 18% over the past three years. Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: ₹2.56 (vs ₹2.46 in 3Q 2023) Third quarter 2024 results: EPS: ₹2.56 (up from ₹2.46 in 3Q 2023). Revenue: ₹824.3m (up 12% from 3Q 2023). Net income: ₹47.8m (up 2.2% from 3Q 2023). Profit margin: 5.8% (down from 6.4% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Jan 31
Veto Switchgears and Cables Limited Announces Management Changes Veto Switchgears and Cables Limited announced at the board meeting held on January 31, 2024, approved Mrs. Varsha Ranee Choudhary, as tendered her resignation from her current position as Company Secretary cum Compliance Officer (Key Managerial Personnel) of the Company, to explore opportunities outside the organization. The Board has accepted her resignation, and she will be relieved from her duties effective from end of business hours of January 31,2024. Mrs. Kritika Todwal, (M. No.: A60917) has appointed as a Company Secretary cum Compliance Officer (Key Managerial Personnel) of the Company with effect from February 01, 2Q24. Mrs. Kritika Todwal IS an Associate Member of the Institute of Company Secretaries of India (ICSI) and also completed masters of law. She has worked in different domains and with various companies. She has rich experience of 4 years in the field of secretarial and legal matters, listing compliances, corporate governance, and Corporate Social Responsibilities. Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: ₹3.16 (vs ₹3.69 in 2Q 2023) Second quarter 2024 results: EPS: ₹3.16 (down from ₹3.69 in 2Q 2023). Revenue: ₹719.9m (down 5.0% from 2Q 2023). Net income: ₹59.8m (down 14% from 2Q 2023). Profit margin: 8.3% (down from 9.2% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 15
Upcoming dividend of ₹1.00 per share at 0.8% yield Eligible shareholders must have bought the stock before 22 September 2023. Payment date: 29 October 2023. Payout ratio is a comfortable 9.4% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.3%). Higher than average of industry peers (0.4%). Recent Insider Transactions • Aug 27
Vice President of Marketing recently sold ₹14m worth of stock On the 24th of August, Vasudev Lalwani sold around 98k shares on-market at roughly ₹140 per share. This transaction amounted to 94% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹149m more than they bought in the last 12 months. Announcement • Aug 26
Veto Switchgears and Cables Limited, Annual General Meeting, Sep 29, 2023 Veto Switchgears and Cables Limited, Annual General Meeting, Sep 29, 2023, at 15:00 Indian Standard Time. Reported Earnings • Aug 15
First quarter 2024 earnings released: EPS: ₹2.56 (vs ₹3.40 in 1Q 2023) First quarter 2024 results: EPS: ₹2.56 (down from ₹3.40 in 1Q 2023). Revenue: ₹673.8m (up 12% from 1Q 2023). Net income: ₹48.5m (down 25% from 1Q 2023). Profit margin: 7.2% (down from 11% in 1Q 2023). 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 increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Aug 11
Now 20% undervalued Over the last 90 days, the stock is up 19%. The fair value is estimated to be ₹152, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 32%. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹124, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 32x in the Electrical industry in India. Total returns to shareholders of 185% over the past three years. Buying Opportunity • Jun 13
Now 20% undervalued Over the last 90 days, the stock is up 17%. The fair value is estimated to be ₹126, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 32%. Reported Earnings • Jun 02
Full year 2023 earnings released: EPS: ₹10.70 (vs ₹10.47 in FY 2022) Full year 2023 results: EPS: ₹10.70 (up from ₹10.47 in FY 2022). Revenue: ₹2.96b (up 9.5% from FY 2022). Net income: ₹202.5m (up 1.1% from FY 2022). Profit margin: 6.9% (down from 7.4% 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 32% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 23
Veto Switchgears and Cables Limited to Report Q4, 2023 Results on May 30, 2023 Veto Switchgears and Cables Limited announced that they will report Q4, 2023 results on May 30, 2023 Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹85.25, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 20x in the Electrical industry in India. Total returns to shareholders of 200% over the past three years. Reported Earnings • Feb 15
Third quarter 2023 earnings released: EPS: ₹2.46 (vs ₹4.26 in 3Q 2022) Third quarter 2023 results: EPS: ₹2.46 (down from ₹4.26 in 3Q 2022). Revenue: ₹736.0m (up 3.1% from 3Q 2022). Net income: ₹46.8m (down 42% from 3Q 2022). Profit margin: 6.4% (down from 11% 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 38% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Feb 07
Veto Switchgears and Cables Limited to Report Q3, 2023 Results on Feb 14, 2023 Veto Switchgears and Cables Limited announced that they will report Q3, 2023 results on Feb 14, 2023 Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹98.05, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 22x in the Electrical industry in India. Total returns to shareholders of 172% over the past three years. Recent Insider Transactions • Dec 11
Insider recently sold ₹124m worth of stock On the 8th of December, Pushpa Gurnani sold around 992k shares on-market at roughly ₹125 per share. This transaction amounted to 78% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹135m more than they bought in the last 12 months. Reported Earnings • Nov 19
Second quarter 2023 earnings released: EPS: ₹3.69 (vs ₹2.39 in 2Q 2022) Second quarter 2023 results: EPS: ₹3.69 (up from ₹2.39 in 2Q 2022). Revenue: ₹754.5m (flat on 2Q 2022). Net income: ₹69.6m (up 54% from 2Q 2022). Profit margin: 9.2% (up from 6.0% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Announcement • Nov 17
Veto Switchgears and Cables Limited Announces Executive Changes Veto Switchgears and Cables Limited announced that at the board meeting held on November 14, 2022, the company approved the appointment of Mr. Govind Jaiswal as the Secretarial Auditor of the Company to carry out the Secretarial Audit of the Company for the financial year 2022-23 due to resignation of Mrs. Nisha Agarwal, Practising Company Secretary . Announcement • Nov 09
Veto Switchgears and Cables Limited to Report Q2, 2023 Results on Nov 14, 2022 Veto Switchgears and Cables Limited announced that they will report Q2, 2023 results on Nov 14, 2022 Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improved over the past week After last week's 19% share price gain to ₹127, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 24x in the Electrical industry in India. Total returns to shareholders of 174% over the past three years. Board Change • Oct 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Additional Independent Director Sanjeev Dass was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 01
Veto Switchgears and Cables Limited Announces the Retirement of Mr. Govind Ram Thawani as an Independent Director of the Company Veto Switchgears and Cables Limited announced that at the AGM was held on September 28, 2022, the company approved the retirement of Mr. Govind Ram Thawani as an Independent Director of the Company, with effect from September 28, 2022. Announcement • Sep 30
Veto Switchgears and Cables Limited Approves Final Dividend for the Financial Year Ended on March 31, 2022 Veto Switchgears and Cables Limited announced that at the AGM was held on September 28, 2022, the company approved the final dividend of INR 1/- per equity share having face value of INR 10/- each aggregating to 10% of F.V., for the financial year ended on March 31, 2022. Upcoming Dividend • Sep 13
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 20 September 2022. Payment date: 28 October 2022. Payout ratio is a comfortable 7.9% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.6%). Announcement • Aug 26
Veto Switchgears and Cables Limited, Annual General Meeting, Sep 28, 2022 Veto Switchgears and Cables Limited, Annual General Meeting, Sep 28, 2022, at 15:00 Indian Standard Time. Reported Earnings • Aug 12
First quarter 2023 earnings released First quarter 2023 results: Revenue: ₹602.0m (up 43% from 1Q 2022). Net income: ₹64.9m (up 155% from 1Q 2022). Profit margin: 11% (up from 6.1% in 1Q 2022). The increase in margin was driven by higher revenue. Announcement • Aug 03
Veto Switchgears and Cables Limited to Report Q1, 2023 Results on Aug 10, 2022 Veto Switchgears and Cables Limited announced that they will report Q1, 2023 results at 4:00 AM, Indian Standard Time on Aug 10, 2022 Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improved over the past week After last week's 20% share price gain to ₹97.55, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 20x in the Electrical industry in India. Total returns to shareholders of 45% over the past three years. Reported Earnings • May 30
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₹10.56 (up from ₹7.79 in FY 2021). Revenue: ₹2.71b (up 50% from FY 2021). Net income: ₹201.9m (up 37% from FY 2021). Profit margin: 7.5% (down from 8.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 67%. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • May 27
Veto Switchgears and Cables Limited Recommends Final Dividend for the Financial Year Ended 31 March 2022 Veto Switchgears and Cables Limited at the Board of Directors of the Company at its meeting held on 26 May, 2022, the Board of Directors decided to recommend a final dividend of INR 1 (i.e. 10% of face value of INR 10) per Equity share to the members of the Company for the Financial Year ended 31st March 2022 subject to approval of members at the 15th Annual General meeting. Announcement • May 20
Veto Switchgears and Cables Limited to Report Q4, 2022 Results on May 26, 2022 Veto Switchgears and Cables Limited announced that they will report Q4, 2022 results on May 26, 2022 Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improved over the past week After last week's 20% share price gain to ₹108, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 19x in the Electrical industry in India. Total returns to shareholders of 59% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 22% share price decline to ₹81.20, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 18x in the Electrical industry in India. Total returns to shareholders of 9.6% over the past three years. Reported Earnings • Feb 13
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: ₹4.26 (up from ₹3.12 in 3Q 2021). Revenue: ₹716.6m (up 40% from 3Q 2021). Net income: ₹80.8m (up 35% from 3Q 2021). Profit margin: 11% (in line with 3Q 2021). Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 67%. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 24% per year. Announcement • Feb 03
Veto Switchgears and Cables Limited to Report Q3, 2022 Results on Feb 11, 2022 Veto Switchgears and Cables Limited announced that they will report Q3, 2022 results on Feb 11, 2022 Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 15% share price gain to ₹110, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 25x in the Electrical industry in India. Total loss to shareholders of 32% over the past three years. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹107, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 20x in the Electrical industry in India. Total loss to shareholders of 36% over the past three years. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improved over the past week After last week's 19% share price gain to ₹155, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 26x in the Electrical industry in India. Total loss to shareholders of 10% over the past three years. Reported Earnings • Jul 02
Full year 2021 earnings released: EPS ₹7.76 (vs ₹4.88 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹1.83b (up 22% from FY 2020). Net income: ₹147.9m (up 59% from FY 2020). Profit margin: 8.1% (up from 6.2% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 15% share price gain to ₹133, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 20x in the Electrical industry in India. Total loss to shareholders of 31% over the past three years. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹125, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 20x in the Electrical industry in India. Total loss to shareholders of 32% over the past three years. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improved over the past week After last week's 16% share price gain to ₹148, the stock is trading at a trailing P/E ratio of 22.4x, up from the previous P/E ratio of 19.3x. This compares to an average P/E of 21x in the Electrical industry in India. Total return to shareholders over the past three years is a loss of 30%. Is New 90 Day High Low • Feb 25
New 90-day high: ₹141 The company is up 107% from its price of ₹67.80 on 27 November 2020. The Indian market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 36% over the same period. Reported Earnings • Feb 15
Third quarter 2021 earnings released: EPS ₹3.12 (vs ₹1.89 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹514.4m (up 32% from 3Q 2020). Net income: ₹59.7m (up 65% from 3Q 2020). Profit margin: 12% (up from 9.3% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improved over the past week After last week's 20% share price gain to ₹109, the stock is trading at a trailing P/E ratio of 19.6x, up from the previous P/E ratio of 16.4x. This compares to an average P/E of 22x in the Electrical industry in India. Total return to shareholders over the past three years is a loss of 51%. Is New 90 Day High Low • Feb 05
New 90-day high: ₹98.55 The company is up 131% from its price of ₹42.70 on 06 November 2020. The Indian market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 43% over the same period. Announcement • Feb 04
Veto Switchgears and Cables Limited to Report Q3, 2021 Results on Feb 12, 2021 Veto Switchgears and Cables Limited announced that they will report Q3, 2021 results on Feb 12, 2021 Is New 90 Day High Low • Jan 20
New 90-day high: ₹97.75 The company is up 111% from its price of ₹46.35 on 22 October 2020. The Indian market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 44% over the same period. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improved over the past week After last week's 20% share price gain to ₹94.70, the stock is trading at a trailing P/E ratio of 16.9x, up from the previous P/E ratio of 14.1x. This compares to an average P/E of 23x in the Electrical industry in India. Total return to shareholders over the past three years is a loss of 62%. Is New 90 Day High Low • Jan 04
New 90-day high: ₹87.10 The company is up 101% from its price of ₹43.35 on 06 October 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 33% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: ₹82.90 The company is up 90% from its price of ₹43.60 on 10 September 2020. The Indian market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 24% over the same period. Valuation Update With 7 Day Price Move • Dec 03
Market bids up stock over the past week After last week's 16% share price gain to ₹79.30, the stock is trading at a trailing P/E ratio of 14.7x, up from the previous P/E ratio of 12.7x. This compares to an average P/E of 20x in the Electrical industry in India. Total return to shareholders over the past three years is a loss of 63%. Recent Insider Transactions • Nov 22
Insider recently bought ₹4.3m worth of stock On the 19th of November, Kishore Gurnani bought around 81k shares on-market at roughly ₹53.61 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Valuation Update With 7 Day Price Move • Nov 20
Market bids up stock over the past week After last week's 54% share price gain to ₹71.40, the stock is trading at a trailing P/E ratio of 11.5x, up from the previous P/E ratio of 7.5x. This compares to an average P/E of 22x in the Electrical industry in India. Total return to shareholders over the past three years is a loss of 66%. Announcement • Nov 19
Veto Switchgears and Cables Limited (NSEI:VETO) acquired 46% stake in Vankon modular Private Limited for INR 20.9 million. Veto Switchgears and Cables Limited (NSEI:VETO) acquired 46% stake in Vankon modular Private Limited for INR 20.9 million on November 18, 2020. Veto Switchgears acquired 652000 Equity Share at INR 32 per share. For the Financial Year 2019-2020, turnover of the Vankon modular is approximately INR 700 million.
Veto Switchgears and Cables Limited (NSEI:VETO) completed the acquisition of 46% stake in Vankon modular Private Limited on November 18, 2020. Is New 90 Day High Low • Nov 19
New 90-day high: ₹49.60 The company is up 3.0% from its price of ₹47.95 on 21 August 2020. The Indian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 9.0% over the same period. Announcement • Nov 07
Veto Switchgears and Cables Limited to Report Q2, 2021 Results on Nov 13, 2020 Veto Switchgears and Cables Limited announced that they will report Q2, 2021 results on Nov 13, 2020 Is New 90 Day High Low • Oct 17
New 90-day low: ₹41.40 The company is down 1.0% from its price of ₹41.85 on 17 July 2020. The Indian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 1.0% over the same period.