Price Movement and Market Context
On 24 Dec 2025, Veritas (India) recorded its lowest price in the last 52 weeks at Rs.170. Despite this, the stock outperformed its sector by 0.92% on the day, showing a modest gain after two consecutive days of decline. However, the stock remains below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a sustained bearish trend.
In contrast, the broader market displayed resilience. The Sensex opened flat but moved into positive territory, trading at 85,629.62 points, a 0.12% increase, and remains just 0.62% shy of its 52-week high of 86,159.02. The Sensex is supported by bullish moving averages, with the 50-day moving average positioned above the 200-day moving average. Additionally, the BSE Small Cap index gained 0.33%, leading market segments on the day.
Long-Term Price Performance
Veritas (India) has experienced a pronounced decline over the past year, with its stock price falling by 81.94%. This contrasts sharply with the Sensex’s 9.10% gain over the same period. The stock’s 52-week high of Rs.997.75 stands in stark contrast to the current price, highlighting the extent of the downward movement.
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Financial Metrics Reflecting Company Performance
Veritas (India) has shown subdued financial results over recent periods. The company’s Return on Equity (ROE) averaged 4.90%, indicating limited profitability relative to shareholders’ funds. This figure is considered low within the Trading & Distributors sector, where efficient capital utilisation is critical.
Operating profit has recorded a negative compound annual growth rate of 6.48% over the last five years, signalling contraction in core earnings. The company has reported negative results for five consecutive quarters, including the most recent quarter ending September 2024. This sequence of results points to persistent earnings pressure.
Operating cash flow for the year reached a low of Rs. -10.54 crores, reflecting cash outflows from business activities. The Profit After Tax (PAT) for the latest quarter stood at Rs.0.60 crore, representing a decline of 97.3% compared to the average of the previous four quarters. Return on Capital Employed (ROCE) for the half-year period was recorded at 2.72%, one of the lowest levels observed.
Debt and Valuation Considerations
Despite the challenges in profitability, Veritas (India) maintains a low average Debt to Equity ratio of 0.05 times, suggesting limited reliance on borrowed funds. This conservative capital structure may provide some financial flexibility amid earnings pressures.
The stock’s valuation metrics indicate a Price to Book Value ratio of 0.2, which is considered very attractive relative to peers. The company’s ROE of 1.9% at the current valuation level suggests that the market is pricing in subdued expectations for future profitability. Over the past year, profits have declined by 73.8%, aligning with the stock’s price movement.
Shareholding and Market Position
The majority ownership of Veritas (India) rests with promoters, which may influence strategic decisions and company direction. The company operates within the Trading & Distributors sector, which has seen mixed performance across its constituents.
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Summary of Recent Trends
Veritas (India) has experienced a sustained downtrend over the past year, with the stock price declining by nearly 82%. The company’s financial indicators reveal subdued profitability and shrinking operating earnings. Despite a low debt burden and an attractive valuation on a Price to Book basis, the stock remains below all major moving averages, reflecting continued market caution.
While the broader market indices, including the Sensex and BSE Small Cap, have shown positive momentum recently, Veritas (India) has yet to reflect similar recovery signals. The stock’s recent performance, including the new 52-week low of Rs.170, highlights the challenges faced by the company within its sector and the wider market environment.
Market Outlook and Positioning
Veritas (India) continues to trade at levels significantly below its historical highs, with the current price representing a fraction of its peak value. The company’s financial results over recent quarters have been subdued, with negative earnings reported consecutively. The low operating cash flow and diminished profitability metrics contribute to the cautious stance observed in the stock’s price action.
In comparison, the Sensex is trading near its 52-week high, supported by positive market breadth and leadership from small-cap stocks. This divergence underscores the varied performance dynamics within the Indian equity market, where individual stock fundamentals remain a key driver of price movements.
Conclusion
Veritas (India) has reached a significant price milestone by touching its 52-week low of Rs.170, reflecting a prolonged period of price contraction and subdued financial performance. The company’s low profitability ratios, negative earnings trend, and valuation metrics provide a comprehensive picture of its current market standing. While the broader market exhibits positive trends, Veritas (India) remains in a challenging position within the Trading & Distributors sector.
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