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Prices as of 8 Oct 2026 close · Not investment advice

Veto Switchgears And Cables Limited

NSE: VETOConsumer Electronics

Share price

₹131.63

-2.95% close of 9 Oct 2026

Market cap ₹259 CrP/E 9.2 (as of 8 Oct 2026)

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

68

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹259 Cr

P/E ratio

9.2

P/B ratio

0.9

ROCE

11.6%

ROE

8.8%

Dividend yield

0.7%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 9 Oct 2026 close52-week high ₹150.3252-week low ₹84.40

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 35.2% over the past year, and 7.0% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales slipped from 13.8% to 10.0% over the last four years.

Whether it grew faster than its sector

It grew 7.0% a year against a sector median of 11.3% — 4.3 percentage points slower.

Room to re-rate, or risk of de-rating

At 9.2× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 46.5×, across 4 companies. It is against its own five-year median of 10.3×, the 33rd percentile of its own range.

Whether growth justifies the valuation

Priced at 1.3 times its growth rate, on earnings growth of 7%.

Profit growthPrice per ₹1 profitPer 1% growth
Veto Switchgears And Cables Limited — this one7%/yr9.2×₹1.3
PG Electroplast Limited36%/yr71.9×₹2.0
IKIO Technologies Limited-6%/yr30.3×—
Onida Electronics Limited-8%/yr——
Focus Lighting and Fixtures Limited-39%/yr61.8×—
SONAM LIMITED22%/yr31.1×₹1.4

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Consumer Electronics), it ranks 5 of 11 on returns, 7 of 10 on growth, 3 of 11 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 11.6% on capital, ahead of 55% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹63 crore of cash from the business, spent ₹36 crore on plant and equipment, and returned ₹41 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 61 arrived as cash. Its cash comes back faster than it used to: it went from being waiting 225 days for its cash to waiting 207 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

8 of 9 checks clear · 89%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Announced 13 Aug 2026 · Consolidated · Unaudited

Revenue

₹89 Cr

Revenue vs last year

+37.7%

Revenue vs last quarter

-35.7%

Net profit

₹6 Cr

Profit vs last year

+70.6%

Profit vs last quarter

-33.5%

Net margin

6.5%

EPS

₹3.10

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹259 Cr
Prev close
₹131.63
52w High
₹156
52w Low
₹82.3
Enterprise value
₹277 Cr
Beta
1.1
Price CAGR 1y
19.0%
Price CAGR 3y
4.0%
Price CAGR 5y
3.0%
Price CAGR 10y
-1.0%

Ratios

Return on assets
6.3%
PEG ratio
1.4
P/E ratio
9.2
P/B ratio
0.9
EV / EBITDA
6.8
Industry P/E
38.5
ROCE
11.6%
ROCE 5y average
12.4%
ROE
8.8%
Debt / Equity
0.1
Interest coverage
17.5
Dividend yield
0.7%
ROE 3y average
8.0%
ROE last year
9.0%

Annual P&L

Annual revenue
₹387 Cr
Annual profit
₹25 Cr
Operating margin
10.0%
Net profit margin
6.5%
EBITDA margin
9.8%
Sales growth 3y
10.1%
Sales growth 5y
16.4%
Profit growth 3y
7.0%
Profit growth 5y
11.0%
EPS
₹13.2
Sales growth TTM
35.0%
Profit growth TTM
31.0%
Dividend payout
8.0%

Quarter P&L

Sales latest quarter
₹89 Cr
Profit latest quarter
₹6 Cr
YoY quarterly sales growth
37.8%
YoY quarterly profit growth
70.6%
OPM latest quarter
10.6%

Balance Sheet

Book Value
₹153
Face Value
₹10.0
Total debt
₹21 Cr
Total cash
₹2 Cr
Borrowings
₹21 Cr
Reserves / Equity
14.3

Cash Flow

Operating cash flow
₹10 Cr
Free cash flow
₹6 Cr
FCF yield
1.5%
Net cash flow
₹1 Cr

Shareholding

Promoter holding
45.1%
FII holding
0.4%
DII holding
—
Public holding
54.5%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Dixon Technolog.12,697.5041.377,6710.08717.8194.915,547.721.129.2
Havells India1,028.9538.764,5730.94289.7-16.56,518.219.524.9
PG Electroplast515.0071.814,7680.0576.213.82,034.035.310.3
IKIO Tech184.2530.61,4240.0011.1409.0169.340.99.5
Onida Electronics29.501,0900.00-14.2-13.5182.429.5-17.0
CWD280.0057.76530.006.356.1105.7293.618.3
Cellecor Gadgets29.0016.36450.0020.123.3650.38.322.7
Veto Switchgears136.859.62620.745.960.489.437.811.6
Median184.2533.84120.006.056.172.932.411.6

Competes with: Dixon Technologies (India) Limited, Havells India, IKIO Technologies Limited, MIRC Electronics Limited, Onida Electronics Limited, PG Electroplast Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales677282796174768965899413989
Expenses596273755466717859808412680
Material Cost272432225730
Change in Inventories7.51-3.66-133.712.76-9.23
Purchases of Stock-in-Trade302546414642
Employee Cost4.875.045.906.187.116.59
Other Expenses8.507.909.39111311
Operating Profit7.83108.724.327.108.565.19116.308.379.81139.44
OPM %1214115.4412126.86129.719.43109.5511
Other Income0.410.340.393.590.420.151.450.520.350.850.550.190.53
Exceptional items (within Other Income)000000
Interest0.971.570.870.730.390.040.500.710.630.370.470.510.74
Depreciation0.760.700.790.480.630.660.930.841.091.021.131.091.01
Profit before tax6.518.087.456.706.508.015.219.814.937.838.76128.22
Tax %25253467252530253022282629
Net Profit4.906.054.892.234.885.973.637.343.436.086.278.805.85
EPS in Rs2.543.132.501.112.543.091.963.941.933.183.454.593.10
Diluted EPS in Rs3.841.803.183.454.593.10

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales97177239253218150181267290300300387411
Expenses82151214212197131158233257269269349370
Material Cost113136
Change in Inventories1.59-11
Purchases of Stock-in-Trade104158
Employee Cost1924
Other Expenses3141
Operating Profit15262541211924343331323841
OPM %16151116101313131110111010
Other Income1-422012355322
Exceptional items (within Other Income)00
Interest45434424541.6422
Depreciation2222122332.733.0644
Profit before tax10152139161421303029303337
Tax %271514262733313233372626
Net Profit713182912915202018222527
EPS in Rs3.907.1410166.054.857.7410119.39121314
Diluted EPS in Rs1113
Dividend Payout %028201300131091198

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
8%
5 years
16%
3 years
10%
TTM
35%

Compounded profit growth

10 years
4%
5 years
11%
3 years
7%
TTM
31%

Stock price CAGR

10 years
-1%
5 years
3%
3 years
4%
1 year
19%

Return on equity

10 years
10%
5 years
9%
3 years
8%
Last year
9%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital181818181919191919191919
Reserves546383130148159175194214227247271
Borrowings354231384026354743232321
Other Liabilities141913161316454945376987
Minority Interest0.980.44
Total Liabilities121142145202220220274309321306358398
Fixed Assets222120233040444340415149
CWIP03870323791113
Investments000000000000
Other Assets99118118171190177227263274256296336
Total Assets121142145202220220274309321306358398

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-22120-2511317-818281510
Cash from Investing Activity3-8-124-2-11-70-2-8-18-4
Cash from Financing Activity-5-0-21213-19-34-10-27-3-5
Net Cash Flow-414-130121-4-36-8-61
Free Cash Flow-41814-299184-91322-4.666

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1258686154102145183162171162179155
Inventory Days1411007086207314320231182156160134
Days Payable583015151734926552404846
Cash Conversion Cycle208156140225292425411328300278291243
Working Capital Days1335893164198282279225229231242207
ROCE %13212026109111413121112

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters474545454545454545454545
FIIs000.0100.090.010.420.5300.010.010.41
Public535555555555555455555555
No. of Shareholders26,13125,80429,60328,57226,87226,14425,57826,56726,29925,77625,17223,721

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year +14.2% (₹115.23 → ₹131.63)Brick size ₹6.27 (fixed)Bricks 20
₹100₹120₹140₹132Dec '25Apr '26Jul '26
Price moved up one brickPrice moved down one brickLast close ₹131.63 on 9 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

19.00inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

News

News and filings about Veto Switchgears And Cables Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • PVC resin
  • aluminium
  • copper
  • high-speed diesel for DG sets

Depends on the price of

  • aluminium
  • copper

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Consumer Durables
Industry
Consumer Electronics
Classification
Consumer Durables › Consumer Electronics
ISIN
INE918N01018

Business segments

  • Lighting and fittings · 43%
  • Accessories and others · 33%
  • Wires and cables · 24%

Plants

  • Veto Electricals Pvt Ltd plant, Mahindra SEZ Jaipur
  • Veto Switchgears Haridwar plant
  • Veto Switchgears Vasai plant, Mumbai

News impact

Big market events that reach Veto Switchgears And Cables Limited, and how the effect spreads.

No recent market events reach this company.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

21 Sep 2026unspecified₹1
22 Sep 2025unspecified₹1
20 Sep 2024unspecified₹1
22 Sep 2023unspecified₹1
20 Sep 2022unspecified₹1
21 Sep 2021unspecified₹1
25 Sep 2018unspecified₹2
25 Sep 2017unspecified₹1

Splits, bonuses & buybacks

  • daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.