How has been the historical performance of Veritas (India)?

Answer:The historical performance of Veritas (India) shows a significant increase in net sales and profit over the years, with net sales reaching 4,099.05 Cr in March 2025, up from 3,854.53 Cr in March 2024 and 2,163.22 Cr in March 2023. The total operating income followed a similar trend, rising to 4,099.05 Cr in March 2025 from 3,854.53 Cr in March 2024. However, the operating profit (PBDIT) decreased to 193.98 Cr in March 2025 from 261.54 Cr in March 2024, reflecting a decline in operating profit margin from 5.31% to 4.61%. Profit before tax also saw a decrease to 113.91 Cr in March 2025 from 187.89 Cr in March 2024, resulting in a profit after tax of 113.56 Cr, down from 186.85 Cr. The company's total assets decreased to 3,835.41 Cr in March 2025 from 4,182.76 Cr in March 2024, while total liabilities also fell to 3,835.41 Cr from 4,182.76 Cr. Cash flow from operating activities declined to 28.00 Cr in March 2025 from 55.00 Cr in March 2024, although the net cash inflow increased to 21.00 Cr from 11.00 Cr.

Breakdown:
Veritas (India) has demonstrated a robust growth trajectory in net sales, which increased significantly from 1,875.70 Cr in March 2019 to 4,099.05 Cr in March 2025. This growth in revenue has not translated into consistent profit margins, as operating profit margins have declined from 8.67% in March 2021 to 4.61% in March 2025. The profit before tax peaked at 187.89 Cr in March 2024 but fell to 113.91 Cr in March 2025, indicating challenges in maintaining profitability despite higher sales. The company's total assets and liabilities both decreased in March 2025, reflecting a tightening of financial conditions. Cash flow from operating activities has also decreased, although the net cash inflow improved, suggesting better cash management despite lower operational cash generation. Overall, while Veritas (India) has shown impressive sales growth, it faces challenges in profitability and asset management in recent periods.