Veto Switchgears And Cables Limited

: VETO · Consumer Electronics

52W Range₹82 ₹154

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Snapshot

Unlock Veto Switchgears And Cables Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Veto Switchgears & Cables Ltd is an Indian manufacturer specialising in wires, cables, and electrical accessories. The company also distributes LED lighting, CFL products, and fans under the Veto and Vimal Power brand names.

Business Model

The company generates revenue through the manufacturing and sale of electrical infrastructure products and consumer lighting solutions. It leverages its position as an ISO 9001:2008 certified entity to market ISI-marked products to the domestic Indian market.

  • Incorporation Year:2007

Growth Outlook

Growth is expected to be driven by the expansion of the company's electrical accessory portfolio and the continued demand for branded housing wires and LED lighting solutions in India.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the prices of copper, aluminium, and plastic polymers can significantly impact manufacturing margins.
  • Intense Market Competition. The electrical goods sector in India is highly fragmented with significant competition from both organised and unorganised players.
  • Regulatory Compliance. Changes in safety standards or ISI certification requirements could necessitate costly adjustments to manufacturing processes.
  • Economic Cyclicality. Demand for electrical products is closely tied to the performance of the real estate and construction sectors.

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Key Metrics

REVENUE

₹387 Cr

TTM · consolidated

+28.7%YoY

NET PROFIT

₹25 Cr

TTM · consolidated

+12.6%YoY

EPS

₹13.02

TTM · consolidated

+14.1%YoY

RETURN ON EQUITY

9.0%

TTM · consolidated

+0.3 ppYoY

RETURN ON CAPITAL EMPLOYED

12.6%

TTM · consolidated

+0.6 ppYoY

P/E

9.9x

Q4 FY26 · consolidated

9.9 vs 11.6x5Y avg

EV/EBITDA

5.0x

Q4 FY26 · consolidated

5.0 vs 5.6x5Y avg

EBITDA MARGIN

10.3%

TTM · consolidated

-1.1 ppYoY

NET PROFIT MARGIN

6.3%

Q4 FY26 · consolidated

-1.9 ppYoY

DEBT TO EQUITY

0.1x

Q4 FY26 · consolidated

-0.02xYoY

Peers · Consumer Electronics

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Veto Switchgears And Cables LimitedVETO
₹241 Cr9.686.5728.7%10.3%9.0%12.6%+11.5%
IKIO Technologies LimitedIKIO
₹1,652 Cr33.7615.9334.5%16.3%8.6%12.0%+3.4%
Onida Electronics LimitedMIRCELECTR
₹1,337 Cr-17.06-36.63-11.6%-5.8%-41.1%-26.9%+30.4%
CWD LimitedCWD
₹773 Cr18.0%
Universus Photo Imagings LimitedUNIVPHOTO
₹499 Cr-28.4027.12-5.2%95.4%-2.1%2.1%+75.6%
Focus Lighting and Fixtures LimitedFOCUS
₹455 Cr78.4821.9114.9%10.9%4.0%6.8%-28.9%

As of Q4 FY26

Financials