₹121.53

▲ +0.62 +0.51%

27 Oct 2026

NSE Listed

Veto Switchgears & Cables Ltd. (VETO)

Volume: 24,505Avg Vol 1W: 44,853.4Avg Vol 1M: 66,285.752W Range:₹82.32₹155.9

NSE BSE www.vetoswitchgears.com AI Report

Key Ratios

Checked 2h ago

Market Cap₹232 Cr

Current Price₹121.53

Previous Close₹120.91

High / Low (52w)₹155.9 / ₹82.32

Volume24,505

Avg Vol (1W)44,853.4

Avg Vol (1M)66,285.7

Stock P/E8.49

Book Value₹151.55

Dividend Yield83%

ROE8.67%

ROA6.79%

Revenue (TTM)₹389 Cr

Revenue Growth0.1%

Profit Margin6.65%

Total Debt₹3 Cr

Shares Outstanding2 Cr

Face Value₹10

EPS (TTM)₹14.31

P/B0.8

Debt / Equity0.08

50 DMA₹131.45

200 DMA₹117.68

Day change+0.51%

Price Chart

₹121.53▼ 0.76% · 1Y

2025-10-27

2026-10-27

20-day avg volume: 66K shares

Pros

Pays a dividend yield of 83.0%.
Company is almost debt-free.
Revenue grew 45% YoY.
Net profit is growing year over year.
Stock trades below its book value.

Quarterly Results

Metric	Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	₹74 Cr	₹76 Cr	₹89 Cr	₹65 Cr	₹89 Cr	₹94 Cr	₹139 Cr	₹89 Cr
EBITDA	₹8 Cr	₹6 Cr	₹11 Cr	₹6 Cr	₹8 Cr	₹9 Cr	₹12 Cr	₹9 Cr
Net Profit	₹6 Cr	₹4 Cr	₹8 Cr	₹4 Cr	₹6 Cr	₹7 Cr	₹9 Cr	₹6 Cr
EPS	—	—	—	—	—	—	—	—

Profit & Loss (Annual)

Metric	Mar 2025	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Mar 2026	Jun 2026
Revenue	₹303 Cr	₹67 Cr	₹43 Cr	₹58 Cr	₹70 Cr	₹75 Cr	₹389 Cr	₹58 Cr
EBITDA	₹31 Cr	₹10 Cr	₹5 Cr	₹8 Cr	₹9 Cr	₹11 Cr	₹35 Cr	₹9 Cr
Net Profit	₹22 Cr	₹8 Cr	₹4 Cr	₹6 Cr	₹6 Cr	₹8 Cr	₹25 Cr	₹6 Cr
EPS	11.59	—	—	—	—	—	13.15	—

Balance Sheet

Metric	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	₹220 Cr	₹220 Cr	₹274 Cr	₹309 Cr	₹321 Cr	₹306 Cr	₹358 Cr	₹398 Cr
Total Liabilities	₹53 Cr	₹42 Cr	₹79 Cr	₹95 Cr	₹87 Cr	₹59 Cr	₹91 Cr	₹108 Cr
Equity	₹167 Cr	₹178 Cr	₹194 Cr	₹213 Cr	₹234 Cr	₹247 Cr	₹267 Cr	₹290 Cr
Total Debt	—	—	—	—	—	—	—	—

Cash Flow

Metric	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating	₹21 Cr	₹35 Cr	₹13 Cr	₹1 Cr	₹30 Cr	₹40 Cr	₹24 Cr	₹22 Cr
Investing	₹-2 Cr	₹-13 Cr	₹-7 Cr	₹0 Cr	₹-4 Cr	₹-7 Cr	₹-18 Cr	₹-4 Cr
Financing	₹3 Cr	₹-19 Cr	₹-3 Cr	₹4 Cr	₹-10 Cr	₹-27 Cr	₹-3 Cr	₹-5 Cr
Free Cash Flow	₹21 Cr	₹35 Cr	₹13 Cr	₹1 Cr	₹30 Cr	₹40 Cr	₹24 Cr	₹22 Cr

Shareholding

Promoter 45.06% Institutions 0.66% Public 54.28%

Efficiency & Working Capital

ROCE11.3%

Interest Coverage17.9

Dividend Payout—

Debtor Days155 d

Inventory Days97 d

Payable Days33 d

Cash Conversion Cycle218 d

Working Capital Days252 d

Shareholding Details

As of 2026-09-30

Promoter45.1%

FII0.7%

DII0%

Institutions0.7%

Public54.3%

Promoter Pledge0%

No. of Shareholders22,871

Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

Period	Dec 2023	Mar 2024	Jun 2024	Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026	Sept 2026
Promoters	45.1%	45.1%	45.1%	45.1%	45.1%	45.1%	45.1%	45.1%	45.1%	45.1%	45.1%	45.1%
FIIs	0%	0%	0%	0.1%	0%	0.4%	0.5%	0%	0%	0%	0.4%	0.7%
DIIs	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Public	54.9%	54.9%	54.9%	54.9%	54.9%	54.5%	54.4%	54.9%	54.9%	54.9%	54.5%	54.3%
Promoter Pledge	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
No. of Shareholders	25,804	29,603	28,572	26,872	26,144	25,578	26,567	26,299	25,776	25,172	23,721	22,871

Returns History (ROE / ROCE / ROA)

Period	ROE	ROCE	ROA	P/E
202603	—	—	—	—

Major Shareholders (>1%)

Name	Category	Stake	Shares
Veto Electropowers (india) Private Limited	Shareholding of Promoter and Promoter Group	32.3%	61,70,704
Harish Kumar Gurnani	Shareholding of Promoter and Promoter Group	3.8%	7,33,333
Akshay Kumar Gurnani	Shareholding of Promoter and Promoter Group	3.6%	6,88,722
Rishabh Pant	Public Shareholding	3%	5,77,776
Dheeraj Kumar Lohia	Public Shareholding	1.6%	2,97,007
Pushpa Devi Gurnani	Shareholding of Promoter and Promoter Group	1.5%	2,84,744
Kanishk Kishore Gurnani	Shareholding of Promoter and Promoter Group	1.2%	2,36,985
Rohit Gurnani	Shareholding of Promoter and Promoter Group	1.2%	2,32,985
Mahendra Girdharilal Wadhwani	Public Shareholding	1.2%	2,26,434
Priyanka Kishore Gurnani	Shareholding of Promoter and Promoter Group	0.9%	1,75,000
Kishore Kumar Gurnani	Shareholding of Promoter and Promoter Group	0.3%	55,000
Sitadevi Gurnani	Shareholding of Promoter and Promoter Group	0.1%	15,000
Narain Das Gurnani	Shareholding of Promoter and Promoter Group	0.1%	13,200
Mukesh Gurnani	Shareholding of Promoter and Promoter Group	0%	6,600

Board of Directors

Name	Designation	Year
Akshay Kumar Gurnani	ED / MD / CEO / Promoter	2025
Narain Das Gurnani	ED / WTD / CFO / Promoter	2025
Jyoti Gurnani	Non-Exec & Non-Independent Dir	2025
Kanwarjeet Singh	Independent Non Exe. Director	2025
Hari Krishan Motwani	Independent Non Exe. Director	2025
Sanjeev Kumar Dass	Independent Non Exe. Director	2025
Kritika Todwal	Company Sec. & Compli. Officer	2025

Segments — Product

Segment	Revenue	Share
Wire & Cables	₹80 Cr	32.6%
Lighting & Fittings	₹86 Cr	34.9%
Accessories & Others	₹80 Cr	32.5%

Capital Structure (₹ Cr)

Year	Face Value	Authorised	Issued	Paid-up
2026	₹10	25	19	19

Corporate Actions

Type	Date	Value	Remark
forthcoming	2026-09-21	Dividend	—
dividend	2026-09-21	₹1 (10%)	Final
forthcoming	2026-08-12	Board Meetings	—
dividend	2025-09-22	₹1 (10%)	Final

Related-Party Transactions (₹ Cr)

Year	Subsidiaries	KMP	Others	Total
2025	52	1	2	55
2025	47	0	0	47
2025	0	1	0	1

Insider / Designated-Person Trades

4 recent disclosure(s)

KANISHK KISHORE GURNANIDisposal · 1,75,000

PRIYANKA KISHORE GURNANIAcquisition · 1,75,000

KANISHK KISHORE GURNANIDisposal · 1,75,000

Substantial Acquisitions (SAST)

2 disclosure(s)

Market01/12/2023 · 3,00,000

Market28/11/2023 · 1,00,000

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