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Veto Switchgears And Cables LimitedVETOCorporate

Electric Equipment Latest results: Mar 2026 14 quarters of data
Consolidated Standalone
₹133.27
MCap ₹255 Cr · P/E 10.4
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AI-assisted data: figures and text on this page are extracted from public quarterly filings with AI assistance, checked automatically and overseen by our editorial team (human in the loop). They may still contain errors or omissions. Verify critical numbers against official company / SEBI / NSE / BSE filings before making any decision. Educational information only, not financial advice.
₹139 Cr
Sales · Mar 2026
+55.7% YoY
₹13 Cr
Operating Profit · Mar 2026
+22.3% YoY
9.5%
OPM % · Mar 2026
-22.1% YoY
₹9 Cr
Net Profit · Mar 2026
+19.9% YoY
₹4.59
EPS · Mar 2026
+16.5% YoY

📝 Veto Switchgears And Cables Limited — results explained

Quarter ended March 2026 (Q4 FY26)

Veto Switchgears And Cables Limited reported revenue of ₹139 crore for the quarter ended March 2026 (Q4 FY26), up 55.7% from ₹89 crore in the same quarter last year, and up 47.4% sequentially over the December 2025 quarter.

Net profit rose 19.9% year-on-year to ₹9 crore, from ₹7 crore. Earnings per share (EPS) came in at ₹4.59.

Operating profit stood at ₹13 crore — an operating margin (OPM) of 9.5%, compared with 12.2% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, Veto Switchgears And Cables Limited posted revenue of ₹387 crore, a growth of 28.7% over FY25, with a net profit of ₹25 crore (up 12.6% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹387 crore with a net profit of ₹25 crore.

Valuation snapshot

At the current price of ₹133.27, VETO has a market capitalisation of ₹255 crore and a trailing P/E of about 10.4.

Within the Electric Equipment industry, it is the 25th-largest of the 41 companies we track by market value.

Shareholding pattern

As of Mar 2026, promoters held 45.06%, foreign institutional investors (FIIs) 0.01%, public shareholders 54.94% of Veto Switchgears And Cables Limited.

📈 Share price & events

📊 Quarterly trend

₹ crore · OPM % on right axis

🎯 Key metrics

price-linked ratios use the latest close
Valuation
Market Cap ?
₹255 Cr
Current Price ?
₹133.3
P/E ?
10.37below ind
Industry P/E ?
29.80
P/B ?
0.88
P/S ?
0.66
P/FCF ?
42.46
Enterprise Value ?
₹276 Cr
EV/EBITDA ?
7.31
PEG ?
1.48
Earnings Yield ?
12.1%
Dividend Yield ?
0.75%
Profitability & Returns
Sales (TTM) ?
₹387 Cr
OPM ?
9.8%
Profit after tax (TTM) ?
₹25 Cr
EPS (TTM) ?
₹12.86
ROCE ?
12.0%
ROE ?
8.5%
ROA ?
6.2%
Growth
Sales — latest qtr ?
₹139 Cr
PAT — latest qtr ?
₹9 Cr
YoY qtr sales growth ?
55.7%
YoY qtr profit growth ?
19.9%
Sales growth (3y) ?
10%
Sales growth (5y) ?
16%
Profit growth (3y) ?
7%
Profit growth (5y) ?
11%
Financial Health
Debt ?
₹21 Cr
Debt to Equity ?
0.07
Interest Coverage ?
16.8
Current Ratio ?
N/A
Ownership
Promoter holding ?
45.06%
Change in promoter holding ?
0.00%
Pledged percentage ?
N/A
Market
Return 3 months ?
2.2%
Return 6 months ?
23.9%

🗓️ Quarterly results (14 quarters · ₹ Cr)

same fiscal quarter as Mar bestweakest per row · for costs (interest, NPAs) low is best
Metric Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026 YoY % QoQ %
Sales 72846772827961747689658994139 +55.7% +47.4%
Operating Profit 668109479511681013 +22.3% +35.2%
Other Income 22000400110110 -63.5% -65.6%
Interest 11121100011001 -28.2% +7.8%
Depreciation 11111011111111 +29.8% -3.6%
Profit Before Tax 7678777851058912 +20.8% +35.3%
Net Profit 52565256473669 +19.9% +40.3%
EPS 2.461.152.563.132.561.112.553.091.963.941.933.183.454.59 +16.5% +33.0%
OPM % 9.0% 7.4% 11.7% 14.0% 10.6% 5.4% 11.6% 11.5% 6.9% 12.2% 9.7% 9.4% 10.4% 9.5% -22.1% -8.7%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric FY25 FY26 TTM YoY %
Sales ₹300 Cr ₹387 Cr ₹387 Cr +28.7%
Operating Profit ₹32 Cr ₹38 Cr ₹38 Cr +19.1%
OPM % 10.55% 9.76% 9.76% -7.5%
NPM % 7.26% 6.36% 6.36% -12.4%
Other Income ₹3 Cr ₹2 Cr ₹2 Cr -23.5%
Depreciation ₹3 Cr ₹4 Cr ₹4 Cr +41.5%
Interest ₹2 Cr ₹2 Cr ₹2 Cr +20.9%
EBIT ₹29 Cr ₹33 Cr ₹33 Cr +16.7%
PBT ₹30 Cr ₹33 Cr ₹33 Cr +13.0%
Tax — ₹3 Cr ₹3 Cr —
Net Profit ₹22 Cr ₹25 Cr ₹25 Cr +12.6%
EPS ₹11.54 ₹13.15 ₹13.15 +14.0%
Material Cost — ₹64 Cr ₹64 Cr —
Employee Cost — ₹6 Cr ₹6 Cr —
Extraordinary Items ₹0 Cr — — —

🏛️ Balance Sheet (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Equity Capital 19191919 +0.0%
Reserves 214227247271 +9.7%
Borrowings 43232321 -8.7%
Other Liabilities 45374387 +102.3%
Total Liabilities 321306332398 +19.9%
Fixed Assets 40415149 -3.9%
CWIP 791113 +18.2%
Investments 0000 —
Other Assets 274256270336 +24.4%
Total Assets 321306332398 +19.9%

💧 Cash Flow (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Cash from Operating Activity 18281510 -33.3%
Cash from Investing Activity -2-8-18-4 +77.8%
Cash from Financing Activity -10-27-3-5 -66.7%
Net Cash Flow 6-8-61 +116.7%
Free Cash Flow 1322-56 +220.0%
CFO/OP 91%130%76%57% -25.0%

➗ Ratios (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Debtor Days 171162179155 -13.4%
Inventory Days 182156160132 -17.5%
Days Payable 52404845 -6.2%
Cash Conversion Cycle 300278291242 -16.8%
Working Capital Days 229231242207 -14.5%
ROCE % 13%12%11%12% +9.1%

👥 Shareholding (latest 4 periods)

Metric Jun 2025Sep 2025Dec 2025Mar 2026 % Chg
Promoters 45.06%45.06%45.06%45.06% +0.0%
FIIs 0.53%0.00%0.01%0.01% +0.0%
Public 54.42%54.95%54.93%54.94% +0.0%
No. of Shareholders 26,56726,29925,77625,172 -2.3%

⚖️ Peer comparison

Industry: Electric Equipment · top 25 of 41 companies · full page →
# Company CMP MCap (Cr) P/E Sales TTM NP TTM OPM% NPM% Sales YoY% NP YoY% Qtr Rev Δ% Qtr NP Δ%
1 VOLTAMP Voltamp Transformers ₹11,006.00 11,135 35.1 2,274 317 16.0% 14.0% 11.3% -6.1% 28.3% 14.0%
2 TARIL Transformers And Rectifiers ₹291.30 8,744 28.5 2,831 313 16.4% 11.1% 24.2% 25.6% 60.7% 119.9%
3 SPECTRUM Spectrum Electrical ₹3,729.90 6,373 102.0 682 57 15.3% 8.4% 29.9% 77.2% 76.5% 131.9%
4 MARINE Marine Electricals ₹377.45 5,282 82.1 968 66 11.0% 6.8% 14.2% 55.6% 55.2% 45.9%
5 INDOTECH Indo Tech ₹3,323.80 3,530 35.5 846 99 15.1% 11.7% 28.0% 45.3% 39.0% 34.1%
6 WEBELSOLAR Websol Energy ₹75.52 3,279 10.3 1,203 313 37.4% 26.0% 82.1% 94.5% 70.1% 16.1%
7 RELTD Ravindra Energy ₹139.32 2,766 33.7 543 82 24.2% 15.0% 116.6% 265.6% -16.4% 0.0%
8 UEL Ujaas Energy ₹200.99 2,681 n/m 18 4 -19.3% 21.8% -34.7% -64.3% 14.5% 30.8%
9 RISHABH Rishabh Instruments ₹684.55 2,649 32.6 783 82 16.7% 10.5% 7.6% 289.8% 4.4% -3.2%
10 BBL Bharat Bijlee ₹2,246.80 2,540 22.7 2,355 112 6.5% 4.7% 19.5% -10.4% 17.7% -29.9%
11 EXICOM Exicom Tele-Systems ₹162.72 2,263 — 1,278 -265 -6.8% -20.7% 17.7% -584.4% 61.5% 11.4%
12 ALPEXSOLAR Alpex Solar ₹838.95 2,143 10.7 2,346 200 14.1% 8.5% 185.0% 143.4% 32.5% -5.1%
13 HONDAPOWER Honda India ₹1,930.30 1,958 29.7 900 66 9.7% 7.3% 9.1% -20.0% 22.1% 23.3%
14 HPL HPL Electric ₹284.15 1,827 20.0 1,944 92 14.8% 4.7% 6.6% -2.7% 34.5% 1.2%
15 IKIO IKIO Technologies ₹211.58 1,635 34.0 644 51 13.6% 7.9% 22.4% 28.8% 41.1% 452.3%
16 SERVOTECH Servotech Renewable ₹68.95 1,557 39.7 751 35 10.3% 4.7% -0.3% -3.3% 57.8% 77.0%
17 MODISONLTD MODISON ₹445.00 1,444 12.8 980 113 17.5% 11.5% 44.8% 193.8% 92.2% 99.8%
18 IGARASHI Igarashi Motors ₹425.45 1,339 81.7 912 16 9.6% 1.8% 3.3% -49.8% 22.5% 169.6%
19 ICEMAKE Ice Make ₹692.00 1,092 89.6 668 12 6.7% 1.8% 39.4% -47.6% 41.9% -14.3%
20 APS Australian Prem ₹520.15 1,049 18.6 689 56 13.4% 8.1% — — 43.7% 7.7%
21 WEL Wonder Electricals ₹72.50 972 80.6 734 12 4.4% 1.6% -26.8% -52.0% 51.0% 264.7%
22 SWELECTES Swelect Energy ₹608.40 945 22.1 610 44 22.6% 7.2% 5.7% 325.4% -26.2% -63.8%
23 SALZERELEC Salzer Electronics ₹501.30 886 20.3 1,815 44 7.5% 2.4% 24.0% -22.2% 12.9% -51.7%
24 SAHAJSOLAR Sahaj Solar ₹395.90 870 29.4 419 29 12.4% 7.0% — — 32.8% 6.3%
25 VETO Veto Switchgears ₹127.00 243 9.7 387 25 9.8% 6.4% 28.7% 12.6% 55.7% 19.9%
❓ Frequently asked questions
What was Veto Switchgears And Cables Limited's revenue in Q4 FY26?
Veto Switchgears And Cables Limited reported revenue of ₹139 crore for the quarter ended March 2026 (Q4 FY26), up 55.7% from ₹89 crore in the same quarter last year, and up 47.4% sequentially over the December 2025 quarter.
What was Veto Switchgears And Cables Limited's net profit in Q4 FY26?
Net profit rose 19.9% year-on-year to ₹9 crore, from ₹7 crore. Earnings per share (EPS) came in at ₹4.59.
What is VETO's market capitalisation and P/E ratio?
At the current price of ₹133.27, VETO has a market capitalisation of ₹255 crore and a trailing P/E of about 10.4.
Who owns Veto Switchgears And Cables Limited? (shareholding pattern)
As of Mar 2026, promoters held 45.06%, foreign institutional investors (FIIs) 0.01%, public shareholders 54.94% of Veto Switchgears And Cables Limited.
TTM ends 2026-03-31. Amounts are ₹ crore unless stated otherwise. Figures are extracted by AI from public quarterly filings; gaps are filled from public market data. Live price refreshed about twice a day from exchange data. Educational information only — not financial advice.
⚠️ How this site is made: Market data pages are computed automatically from NSE/BSE publications and company filings; news articles and announcement analyses are written with AI assistance, with a human in the loop: our editors review what the AI produces. Both can contain errors. Verify with the original sources before any investment decision. Not investment advice; Flash Finance is not SEBI-registered. How we use AI