| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 0/6 |
| Past Performance | 2/6 |
| Financial Health | 5/6 |
| Dividends | 2/6 |
VETO Stock Overview
Veto Switchgears and Cables Limited, together with its subsidiaries, manufactures and sells wires and cables, and electrical accessories in India and internationally.
Veto Switchgears and Cables Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | ₹82.10 |
| 52 Week High | ₹172.00 |
| 52 Week Low | ₹77.00 |
| Beta | 1.27 |
| 1 Month Change | -10.86% |
| 3 Month Change | -11.67% |
| 1 Year Change | -36.21% |
| 3 Year Change | 30.63% |
| 5 Year Change | -53.95% |
| Change since IPO | 5.19% |
Recent News & Updates
Veto Switchgears and Cables (NSE:VETO) Has A Pretty Healthy Balance Sheet
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Here's Why I Think Veto Switchgears and Cables (NSE:VETO) Might Deserve Your Attention Today
Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of falling...
Shareholder Returns
| VETO | IN Electrical | IN Market | |
|---|---|---|---|
| 7D | 0.06% | 3.8% | 2.3% |
| 1Y | -36.2% | 12.1% | -0.9% |
Return vs Industry: VETO underperformed the Indian Electrical industry which returned 11.4% over the past year.
Return vs Market: VETO underperformed the Indian Market which returned -1.7% over the past year.
Price Volatility
| VETO volatility | |
|---|---|
| VETO Average Weekly Movement | 6.1% |
| Electrical Industry Average Movement | 6.6% |
| Market Average Movement | 6.9% |
| 10% most volatile stocks in IN Market | 9.9% |
| 10% least volatile stocks in IN Market | 4.5% |
Stable Share Price: VETO is not significantly more volatile than the rest of Indian stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: VETO's weekly volatility (6%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1967 | 403 | Akshay Gurnani | https://www.vetoswitchgears.com |
Veto Switchgears and Cables Limited, together with its subsidiaries, manufactures and sells wires and cables, and electrical accessories in India and internationally. The company operates through Wire and Cables, Lighting & Fittings, and Accessories & Others segments. It provides electrical accessories, including vyoma, carino, and power modular switches, as well as PUF and ZAC switches; and MCBs/isolators/distribution boxes, and bells and extension cords.
Veto Switchgears and Cables Fundamentals Summary
| VETO fundamental statistics | |
|---|---|
| Market Cap | ₹1.57b |
| Earnings (TTM) | ₹201.90m |
| Revenue (TTM) | ₹2.68b |
7.8x
P/E Ratio0.6x
P/S RatioIs VETO overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| VETO income statement (TTM) | |
|---|---|
| Revenue | ₹2.68b |
| Cost of Revenue | ₹1.93b |
| Gross Profit | ₹745.82m |
| Other Expenses | ₹543.92m |
| Earnings | ₹201.90m |
Last Reported Earnings
Mar 31, 2022
Next Earnings Date
n/a
| Earnings per share (EPS) | 10.56 |
| Gross Margin | 27.85% |
| Net Profit Margin | 7.54% |
| Debt/Equity Ratio | 19.8% |
How did VETO perform over the long term?
See historical performance and comparisonDividends
1.2%
Current Dividend Yield9%
Payout RatioValuation
Is VETO undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
2/6Valuation Score 2/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio
Key Valuation Metric
Which metric is best to use when looking at relative valuation for VETO?
Other financial metrics that can be useful for relative valuation.
| What is VETO's n/a Ratio? | |
|---|---|
| n/a Ratio | 0x |
| n/a | n/a |
| Market Cap | ₹1.57b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 0.7x |
| Enterprise Value/EBITDA | 6.7x |
| PEG Ratio | n/a |
Price to Earnings Ratio vs Peers
How does VETO's PE Ratio compare to its peers?
| VETO PE Ratio vs Peers |
|---|
| Company | PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 10.4x |
Price-To-Earnings vs Peers: VETO is good value based on its Price-To-Earnings Ratio (7.8x) compared to the peer average (10.4x).
Price to Earnings Ratio vs Industry
How does VETO's PE Ratio compare vs other companies in the Indian Electrical Industry?
Price-To-Earnings vs Industry: VETO is good value based on its Price-To-Earnings Ratio (7.8x) compared to the Indian Electrical industry average (19.1x)
Price to Earnings Ratio vs Fair Ratio
What is VETO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 7.8x |
| Fair PE Ratio | n/a |
Price-To-Earnings vs Fair Ratio: Insufficient data to calculate VETO's Price-To-Earnings Fair Ratio for valuation analysis.
Share Price vs Fair Value
What is the Fair Price of VETO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: VETO (₹82.1) is trading above our estimate of fair value (₹10.41)
Significantly Below Fair Value: VETO is trading above our estimate of fair value.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate VETO's PEG Ratio to determine if it is good value.
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Future Growth
How is Veto Switchgears and Cables forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Future Growth Score
0/6Future Growth Score 0/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
16.7%
Forecasted Capital Goods industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Veto Switchgears and Cables has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
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- Examine Veto Switchgears and Cables's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
- Veto Switchgears and Cables competitive advantages and company strategy can generally be found in its financial reports archived here.
Past Performance
How has Veto Switchgears and Cables performed over the past 5 years?
Past Performance Score
2/6Past Performance Score 2/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
-11.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: VETO has high quality earnings.
Growing Profit Margin: VETO's current net profit margins (7.5%) are lower than last year (8.2%).
Past Earnings Growth Analysis
Earnings Trend: VETO's earnings have declined by 11.7% per year over the past 5 years.
Accelerating Growth: VETO's earnings growth over the past year (36.5%) exceeds its 5-year average (-11.7% per year).
Earnings vs Industry: VETO earnings growth over the past year (36.5%) underperformed the Electrical industry 47.6%.
Return on Equity
High ROE: VETO's Return on Equity (9.5%) is considered low.
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Financial Health
How is Veto Switchgears and Cables's financial position?
Financial Health Score
5/6Financial Health Score 5/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage
Financial Position Analysis
Short Term Liabilities: VETO's short term assets (₹2.6B) exceed its short term liabilities (₹836.7M).
Long Term Liabilities: VETO's short term assets (₹2.6B) exceed its long term liabilities (₹116.3M).
Debt to Equity History and Analysis
Debt Level: VETO's net debt to equity ratio (15.3%) is considered satisfactory.
Reducing Debt: VETO's debt to equity ratio has reduced from 30.1% to 19.8% over the past 5 years.
Debt Coverage: VETO's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: VETO earns more interest than it pays, so coverage of interest payments is not a concern.
Balance Sheet
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Dividend
What is Veto Switchgears and Cables's current dividend yield, its reliability and sustainability?
Dividend Score
2/6Dividend Score 2/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage
1.22%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: VETO's dividend (1.22%) is higher than the bottom 25% of dividend payers in the Indian market (0.44%).
High Dividend: VETO's dividend (1.22%) is low compared to the top 25% of dividend payers in the Indian market (1.9%).
Stability and Growth of Payments
Stable Dividend: VETO has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: VETO has only been paying a dividend for 6 years, and since then payments have fallen.
Earnings Payout to Shareholders
Earnings Coverage: With its low payout ratio (9.5%), VETO's dividend payments are thoroughly covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: VETO is paying a dividend but the company has no free cash flows.
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Management
How experienced are the management team and are they aligned to shareholders interests?
6.1yrs
Average management tenure
CEO
Akshay Gurnani (28 yo)
7.83yrs
Tenure
₹2,400,000
Compensation
Mr. Akshay Kumar Gurnani serves as the Chairman and Chief Executive Officer of Veto Switchgears and Cables Limited and has been its Managing Director since August 27, 2014. He also serves as the Director o...
Leadership Team
Experienced Management: VETO's management team is seasoned and experienced (6.1 years average tenure).
Board Members
Experienced Board: VETO's board of directors are considered experienced (6.8 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Veto Switchgears and Cables Limited's employee growth, exchange listings and data sources
Key Information
- Name: Veto Switchgears and Cables Limited
- Ticker: VETO
- Exchange: NSEI
- Founded: 1967
- Industry: Electrical Components and Equipment
- Sector: Capital Goods
- Implied Market Cap: ₹1.569b
- Shares outstanding: 19.11m
- Website: https://www.vetoswitchgears.com
Number of Employees
Location
- Veto Switchgears and Cables Limited
- Plot No. 10, Days Hotel
- 4th Floor, Airport Plaza Scheme
- Jaipur
- Rajasthan
- 302018
- India
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/06/24 00:00 |
| End of Day Share Price | 2022/06/24 00:00 |
| Earnings | 2022/03/31 |
| Annual Earnings | 2022/03/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.