Recent Price Movement and Market Context
On 8 December 2025, Veritas (India) opened and traded at Rs.192.4, the lowest level recorded in the past year. This price point represents a decline of approximately 81.3% from its 52-week high of Rs.1,027.2. Over the last seven trading sessions, the stock has recorded a cumulative return of -10.99%, underperforming its sector by 1.6% on the day of the new low.
The broader market, represented by the Sensex, opened flat but moved into negative territory, trading at 85,506.93 points, down 0.24% from the previous close. The Sensex remains close to its 52-week high, just 0.76% below the peak of 86,159.02, and continues to trade above its 50-day moving average, signalling a generally positive market environment contrasting with Veritas (India)’s performance.
Veritas (India) is currently trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a persistent bearish trend in the stock’s price action.
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Financial Performance Overview
Veritas (India) operates within the Trading & Distributors sector and has exhibited subdued financial metrics over recent periods. The company’s return on equity (ROE) stands at 4.90%, reflecting limited profitability relative to shareholders’ funds. This figure is notably low compared to typical industry standards, indicating constrained efficiency in generating returns from equity capital.
Operating profit has shown a negative compound annual growth rate of -6.48% over the past five years, signalling a contraction in core earnings capacity. The company has reported negative results for five consecutive quarters, including the most recent quarter ending September 2024, which marked the sixth consecutive quarter of losses.
Operating cash flow on an annual basis has reached a low of Rs. -10.54 crores, underscoring cash generation difficulties. The profit after tax (PAT) for the latest quarter was 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 is at a low 2.72%, further highlighting challenges in generating returns from invested capital.
Shareholding and Valuation Metrics
Despite the company’s market capitalisation grade of 4, domestic mutual funds hold no stake in Veritas (India), which may reflect a cautious stance given the company’s recent financial trajectory. The company’s debt-to-equity ratio remains low at 0.05 times on average, indicating minimal leverage and a conservative capital structure.
Valuation metrics show a price-to-book value ratio of 0.2, suggesting that the stock is trading at a valuation considered attractive relative to its book value. However, this valuation is accompanied by a return on equity of 1.9%, which is modest and points to limited profitability. Over the past year, the stock’s returns have been negative at -80.06%, while profits have declined by 73.8% during the same period.
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Comparative Performance and Market Position
Over the last year, Veritas (India) has underperformed the Sensex, which recorded a positive return of 4.62% during the same period. The stock has also lagged behind the BSE500 index across multiple time frames, including the last three years, one year, and three months. This underperformance reflects the company’s challenges in maintaining competitive growth and profitability within its sector.
The stock’s current price level is significantly below its historical highs, and the sustained decline over recent months has placed it firmly in a downtrend. The absence of domestic mutual fund holdings and the continuous negative quarterly results contribute to the subdued market sentiment surrounding the stock.
Summary of Key Metrics
To summarise, Veritas (India) is trading at Rs.192.4, its lowest level in 52 weeks, after a seven-day losing streak. The company’s financial indicators reveal limited profitability, with a low ROE of 4.90%, negative operating profit growth over five years, and consecutive quarterly losses. Operating cash flow and PAT figures have also shown contraction, while valuation metrics suggest the stock is priced attractively relative to book value but with modest returns on equity.
The broader market context shows the Sensex maintaining strength near its 52-week high, contrasting with the stock’s performance. Veritas (India)’s position below all major moving averages further emphasises the current bearish momentum.
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