Veto Switchgears

Why is Veto Switchgears & Cables Ltd falling/rising?

As of 01-Sep, Veto Switchgears & Cables Ltd's stock price is rising to 126.05, reflecting a 2.06% increase after a trend reversal. The stock has outperformed its sector and remains above key moving averages, indicating a positive long-term trend despite a recent drop in delivery volume.

As of 01-Sep, Veto Switchgears & Cables Ltd's stock price is rising, currently at 126.05, reflecting an increase of 2.55 (2.06%). This upward movement follows a trend reversal after two consecutive days of decline, indicating a potential recovery in investor sentiment. Additionally, the stock has outperformed its sector by 4.87% today, which suggests that it is gaining traction compared to its peers.<BR><BR>The stock reached an intraday high of Rs 127, marking a 2.83% increase, which further supports the positive momentum. Despite a recent decline in investor participation, as evidenced by a 41.69% drop in delivery volume compared to the 5-day average, the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive long-term trend.<BR><BR>Moreover, the stock has shown strong performance over the past month, with a 4.00% increase, and a year-to-date rise of 9.90%, contrasting with the negative performance of the Sensex during the same periods. This overall positive trend in the stock's performance contributes to its current rise in price.

Who are in the management team of Veto Switchgears?

The management team of Veto Switchgears includes Akshay Kumar Gurnani (Managing Director & CEO), Narain Das Gurnani (Whole Time Director & CFO), Jyoti Gurnani (Director), and Varsha Ranee Choudhary (Company Secretary & Compliance Officer), along with independent directors Govind Ram Thawani, Kanwarjeet Singh, Hari Krishan Motwani, and Sanjeev Kumar Dass. This team oversees the company's operations and governance.

The management team of Veto Switchgears includes the following key individuals:<BR><BR>1. **Akshay Kumar Gurnani** - Managing Director & CEO<BR>2. **Narain Das Gurnani** - Whole Time Director & CFO<BR>3. **Jyoti Gurnani** - Director<BR>4. **Varsha Ranee Choudhary** - Company Secretary & Compliance Officer<BR><BR>Additionally, the board features several independent directors:<BR>- **Govind Ram Thawani**<BR>- **Kanwarjeet Singh**<BR>- **Hari Krishan Motwani**<BR>- **Sanjeev Kumar Dass**<BR><BR>This team leads the company's operations and governance, ensuring effective management and compliance.

What does Veto Switchgears do?

Veto Switchgears & Cables Ltd is a micro-cap company in the electronics and appliances industry, specializing in switchgears and cables. As of June 2026, it reported net sales of 89 Cr and a net profit of 6 Cr, with a market cap of INR 235 Cr.

Overview:<BR>Veto Switchgears & Cables Ltd operates in the electronics and appliances industry, categorized as a micro-cap company.<BR><BR>History:<BR>The company was originally incorporated as a Partnership Firm in 2003 under the name "Veto Industries." It transitioned to "Veto Switchgears and Cables" in 2007 and was converted into a private company later that year. The name was changed to "Veto Switchgears and Cables Limited" in 2012. The most recent quarterly results reported net sales and net profit for June 2026.<BR><BR>Financial Snapshot:<BR>Net Sales: 89 Cr (Quarterly Results - Jun 2026) <BR>Net Profit: 6 Cr (Quarterly Results - Jun 2026) <BR>Market Cap: INR 235 Cr (Micro Cap)<BR><BR>Key Metrics:<BR>P/E: 9.00 <BR>Industry P/E: 48 <BR>Dividend Yield: 0.79% <BR>Debt-Equity: 0.07 <BR>Return on Equity: 8.67% <BR>Price to Book: 0.83 <BR><BR>Contact Details:<BR>Address: 506 5 Flr Plot B-9 New Link Rd, Landmark Building Andheri (W) Mumbai Maharashtra : 400058 <BR>Tel: 91-141-4100400 <BR>Email: cs.vandana@vetoswitchgears.com <BR>Website: http://www.vetoswitchgears.com

Who are the peers of the Veto Switchgears?

Veto Switchgears' peers include Forbes & Co, Sharp India, BPL, Maruti Interior, Inflame Appliances, Sonam, Macobs Technologies, Greenchef Appliances, and Arham Tech. Veto Switchgears has average management risk, excellent capital structure, and a 1-year return of 8.95%, while peers show varying levels of management risk, growth, and returns.

Peers: The peers of Veto Switchgears are Forbes & Co, Sharp India, BPL, Maruti Interior, Inflame Applian., Sonam, Macobs Technolo., Greenchef Appli., and Arham Tech.<BR><BR>Quality Snapshot: Excellent management risk is observed at Forbes & Co and Inflame Applian., while Average management risk is found at Veto Switchgears, Maruti Interior, Sonam, and Arham Tech. Below Average management risk is present at BPL, Sharp India, Macobs Technolo., and Greenchef Appli. For growth, Good growth is seen at Inflame Applian. and Arham Tech, Average growth is noted at Sonam and Veto Switchgears, while Below Average growth is reported for Forbes & Co, BPL, Sharp India, Maruti Interior, Macobs Technolo., and Greenchef Appli. In terms of capital structure, Excellent capital structure is attributed to Veto Switchgears, Good capital structure is found at Forbes & Co, BPL, Maruti Interior, Sonam, and Macobs Technolo., while Below Average capital structure is noted at Inflame Applian. and Greenchef Appli.<BR><BR>Return Snapshot: Sharp India has the highest 1-year return at 108.56%, while Forbes & Co has the lowest at -38.06%. Veto Switchgears has a 1-year return of 8.95%, which is higher than Forbes & Co but lower than Sharp India. Additionally, the six-month returns for BPL, Maruti Interior, Inflame Applian., and Greenchef Appli. are negative.

How big is Veto Switchgears?

As of 31st August, Veto Switchgears & Cables Ltd has a market capitalization of 235.00 Cr, with recent net sales of 411.21 Cr and a net profit of 27.36 Cr.

As of 31st August, Veto Switchgears & Cables Ltd has a market capitalization of 235.00 Cr, categorized as a Micro Cap.<BR><BR>In the latest four quarters, Veto Switchgears reported Net Sales of 411.21 Cr and a Net Profit of 27.36 Cr.<BR><BR>The latest annual period for the balance sheet is March 2025, with Shareholder's Funds amounting to 266.45 Cr and Total Assets of 327.74 Cr.

Which are the latest news on Veto Switchgears?

Should I buy, sell or hold Veto Switchgears & Cables Ltd?

Are Veto Switchgears & Cables Ltd latest results good or bad?

Veto Switchgears & Cables Ltd's latest results show strong revenue growth of 55.71% year-on-year, with net sales of ₹138.86 crores and a net profit increase of 33.23%. However, declining operating and profit margins indicate challenges in cost management, suggesting mixed overall performance.

Veto Switchgears & Cables Ltd's latest results present a mixed picture. On the positive side, the company reported a significant revenue increase of 55.71% year-on-year for Q4 FY26, with net sales reaching ₹138.86 crores. This growth reflects strong demand and effective order execution, marking the highest quarterly revenue in the company's recent history.<BR><BR>Additionally, net profit for the quarter stood at ₹8.78 crores, which is a 33.23% increase compared to the previous quarter, indicating a positive trend in profitability. The stock has also shown positive momentum, with a gain of 1.72% on the day of the results announcement and a notable appreciation over the past week and month.<BR><BR>However, there are concerns regarding profitability. The operating margin has contracted to 9.55%, down from 12.16% in the same quarter last year, indicating challenges in managing costs amidst rising input prices. The profit after tax margin also declined from 8.23% to 6.34% year-on-year, which raises questions about the company's pricing power and overall cost management.<BR><BR>In summary, while Veto Switchgears has demonstrated strong revenue growth, the declining margins and profitability metrics suggest that the company is facing significant challenges that could impact its future performance. Investors should monitor these trends closely as they evaluate the company's potential.

When is the next results date for Veto Switchgears & Cables Ltd?

The next results date for Veto Switchgears & Cables Ltd is 28 May 2026.

The next results date for Veto Switchgears & Cables Ltd is scheduled for 28 May 2026.

Is Veto Switchgears overvalued or undervalued?

As of November 21, 2025, Veto Switchgears is considered very attractive with a PE ratio of 10.35, a price-to-book value of 0.79, and a PEG ratio of 0.54, indicating it is undervalued compared to peers like Polycab India and Havells India, despite a recent decline in stock performance.

As of 21 November 2025, Veto Switchgears has moved from an attractive to a very attractive valuation grade, indicating a significant positive shift in its perceived value. The company is currently undervalued, with a PE ratio of 10.35, a price-to-book value of 0.79, and an EV to EBITDA ratio of 7.55, which are all favorable compared to industry standards.<BR><BR>In comparison to its peers, Veto Switchgears stands out with a PEG ratio of 0.54, while Polycab India is classified as very expensive with a PE of 46.04, and Havells India is fair with a PE of 61.82. Additionally, Veto's return on capital employed (ROCE) is 9.24%, which is competitive within the sector. Despite a recent decline in stock performance relative to the Sensex, the company's valuation metrics suggest it is positioned well for future growth.

How has been the historical performance of Veto Switchgears?

Veto Switchgears has shown steady growth in net sales, reaching 300.38 Cr in March 2025, with profits also increasing, including a profit after tax of 21.82 Cr. Despite fluctuations in cash flow, the company maintains a solid financial position with total assets of 327.74 Cr.

Answer:<BR>The historical performance of Veto Switchgears shows a steady growth in net sales and profit over the years, with the latest figures indicating a net sales of 300.38 Cr for the year ending March 2025.<BR><BR>Breakdown:<BR>Veto Switchgears has demonstrated a consistent upward trend in net sales, increasing from 150.22 Cr in March 2020 to 300.38 Cr in March 2025, with a slight rise from 300.09 Cr in March 2024. The total operating income mirrors this growth, reaching 300.38 Cr in March 2025. The company's operating profit (PBDIT) has fluctuated but remains strong, reported at 34.24 Cr in March 2025, down from 38.02 Cr in March 2023. Profit before tax also showed resilience, at 29.54 Cr in March 2025, while profit after tax reached 21.82 Cr, reflecting a positive trend from 14.70 Cr in March 2021. The earnings per share have improved significantly, reaching 11.57 in March 2025 compared to 4.85 in March 2020. On the balance sheet, total assets increased to 327.74 Cr in March 2025, with total liabilities at 22.77 Cr, indicating a solid financial position. Cash flow from operating activities, however, decreased to 14.00 Cr in March 2025 from 27.00 Cr in March 2024, contributing to a net cash outflow of 6.00 Cr. Overall, Veto Switchgears has shown robust growth in sales and profitability, alongside a stable asset base, despite some fluctuations in cash flow.

What is the technical trend for Veto Switchgears?

As of June 2, 2025, Veto Switchgears shows a mildly bearish technical trend, influenced by daily moving averages and a monthly MACD, despite some mildly bullish signals from the weekly MACD and Bollinger Bands.

As of 2 June 2025, the technical trend for Veto Switchgears has changed from mildly bullish to mildly bearish. The weekly MACD indicates a mildly bullish stance, but the monthly MACD shows a mildly bearish trend, suggesting a divergence in time frames. The daily moving averages are mildly bearish, reinforcing the current negative sentiment. Bollinger Bands are mildly bullish on both weekly and monthly charts, which adds some support but is overshadowed by the bearish signals. The KST is mildly bullish weekly but bearish monthly, indicating mixed signals. Overall, the current technical stance is mildly bearish, driven primarily by the daily moving averages and the monthly MACD.

Who are the top shareholders of the Veto Switchgears?

The top shareholders of Veto Switchgears include Veto Electropowers (India) Private Limited with a 32.28% stake, individual investors with 46.37%, and four foreign institutional investors holding 0.42%. There are no mutual funds invested, and no pledged promoter holdings.

The top shareholders of Veto Switchgears include Veto Electropowers (India) Private Limited, which holds the highest promoter stake at 32.28%. Additionally, individual investors collectively own 46.37% of the company. There are also 4 foreign institutional investors (FIIs) that hold a total of 0.42%. Notably, there are no mutual funds currently invested in the company, and there are no pledged promoter holdings.

What is the bonus history of the Veto Switchgears?

Veto Switchgears issued a 1:10 bonus on September 6, 2013, with a record date of September 10, 2013, meaning shareholders received one additional share for every ten shares held.

Veto Switchgears has a bonus history that includes a 1:10 bonus issue announced on September 6, 2013. The record date for this bonus was September 10, 2013. This means that for every 10 shares held, shareholders received an additional share as a bonus.

Has Veto Switchgears declared dividend?

Yes, Veto Switchgears & Cables Ltd has declared a 10% dividend, amounting to 1 per share, with an ex-date of September 20, 2024. The company has shown significant long-term growth, with a total return of 282.94% over the last five years.

Veto Switchgears & Cables Ltd has declared a 10% dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 10%<BR>- Amount per share: 1 per share<BR>- Ex-date: 20 Sep 24<BR><BR>Dividend Yield: 0.77%.<BR><BR>Total Returns by Period:<BR>In the last 6 months, the price return was -5.37%, with a dividend return of 0%, resulting in a total return of -5.37%.<BR><BR>Over the past year, the price return was 10.11%, the dividend return was 0.81%, leading to a total return of 10.92%.<BR><BR>In the 2-year period, the price return was 28.42%, with a dividend return of 1.98%, culminating in a total return of 30.4%.<BR><BR>For the 3-year period, the price return was 42.35%, the dividend return was 3.79%, resulting in a total return of 46.14%.<BR><BR>In the 4-year period, the price return was 3.18%, with a dividend return of 3.06%, leading to a total return of 6.24%.<BR><BR>Over the last 5 years, the price return was 274.47%, with a dividend return of 8.47%, resulting in a total return of 282.94%.<BR><BR>Overall, Veto Switchgears has declared a dividend, and while the recent returns show some volatility, the long-term performance indicates significant growth, particularly in price returns over the last five years.