Price
Financials
Consolidated, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 940.87 | 1,323.90 | 1,094.54 | 755.52 | 915.51 | 1,642.46 | 784.62 | 586.66 | 1,006.40 | 987.83 | 531.74 | 897.52 |
| Expenses | 884.01 | 1,268.82 | 1,043.93 | 691.20 | 867.38 | 1,592.18 | 759.81 | 550.80 | 990.77 | 963.00 | 522.65 | 877.44 |
| Operating Profit | 56.86 | 55.08 | 50.61 | 64.32 | 48.13 | 50.28 | 24.81 | 35.86 | 15.63 | 24.83 | 9.09 | 20.08 |
| OPM % | 6.04% | 4.16% | 4.62% | 8.51% | 5.26% | 3.06% | 3.16% | 6.11% | 1.55% | 2.51% | 1.71% | 2.24% |
| Other Income | 0.25 | 56.04 | 0.35 | 0.54 | 13.01 | 3.12 | -10.67 | 2.78 | -0.33 | 0.57 | -0.28 | 0.53 |
| Interest | 6.33 | 5.85 | 10.58 | 7.59 | 14.05 | 13.16 | 5.41 | 4.57 | 4.39 | 3.23 | 15.00 | 5.97 |
| Depreciation | 8.91 | 8.96 | 15.89 | 9.43 | 10.10 | 9.95 | 9.94 | 9.97 | 10.31 | 10.52 | 10.52 | 11.03 |
| Profit before tax | 41.87 | 96.31 | 24.49 | 47.84 | 36.99 | 30.29 | -1.21 | 24.10 | 0.60 | 11.65 | -16.71 | 3.61 |
| Tax % | 0.62% | 0.53% | 0.73% | -0.48% | 0.92% | 1.22% | -9.09% | -0.21% | 0.00% | 6.52% | -4.67% | -1.39% |
| Net Profit | 41.61 | 95.80 | 24.30 | 48.07 | 36.66 | 29.93 | -1.10 | 24.15 | 0.60 | 10.88 | -15.93 | 3.66 |
| EPS in Rs | 15.52 | 35.73 | 9.06 | 17.93 | 13.67 | 11.16 | -0.41 | 9.01 | 0.22 | 4.06 | -5.94 | 1.37 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,456 | 1,648 | 1,679 | 1,876 | 2,037 | 1,876 | 2,131 | 2,163 | 3,855 | 4,098 | 3,113 | 3,423 |
| Expenses | 1,388 | 1,567 | 1,601 | 1,765 | 1,899 | 1,714 | 1,975 | 2,021 | 3,651 | 3,911 | 3,027 | 3,354 |
| Operating Profit | 68 | 82 | 78 | 110 | 138 | 163 | 157 | 142 | 204 | 188 | 85 | 70 |
| OPM % | 4.7% | 5.0% | 4.7% | 6% | 7% | 9% | 7% | 7% | 5% | 4.6% | 2.7% | 2.0% |
| Other Income | -0 | 2 | 1 | 12 | 49 | 4 | 0 | 5 | 58 | 6 | 3 | 0 |
| Interest | 6 | 9 | 7 | 51 | 35 | 24 | 19 | 17 | 31 | 40 | 27 | 29 |
| Depreciation | 1 | 1 | 1 | 25 | 30 | 32 | 32 | 34 | 43 | 39 | 41 | 42 |
| Profit before tax | 61 | 73 | 71 | 46 | 122 | 111 | 106 | 96 | 188 | 114 | 20 | -1 |
| Tax % | 2% | 2% | 5% | 6% | 0% | 1% | 1% | 1% | 1% | 0% | -0% | |
| Net Profit | 60 | 71 | 68 | 44 | 122 | 109 | 105 | 95 | 187 | 114 | 20 | -1 |
| EPS in Rs | 22.47 | 26.67 | 25.27 | 16.23 | 45.61 | 40.82 | 39.05 | 35.36 | 69.69 | 42.36 | 7.35 | -0.29 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 1% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 8% | 11% | 13% | -13% | ||
| Compounded Profit Growth | -11% | -29% | -41% | -101% | ||
| Stock Price CAGR | 2% | -2% | -13% | -58% | ||
| Return on Equity | 5% | 4% | 4% | 1% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves | 1,021 | 1,113 | 1,177 | 1,244 | 1,694 | 1,886 | 1,971 | 2,108 | 2,301 | 2,507 | 2,663 | 2,862 |
| Borrowings | 209 | 409 | 644 | 969 | 495 | 487 | 389 | 268 | 232 | 327 | 198 | 438 |
| Other Liabilities | 193 | 270 | 383 | 720 | 786 | 919 | 923 | 1,623 | 1,586 | 1,346 | 973 | 1,413 |
| Total Liabilities | 1,426 | 1,794 | 2,207 | 2,936 | 2,978 | 3,295 | 3,286 | 4,001 | 4,121 | 4,183 | 3,837 | 4,716 |
| Fixed Assets | 856 | 857 | 858 | 858 | 1,896 | 2,038 | 1,982 | 1,984 | 2,053 | 2,052 | 2,033 | 2,114 |
| CWIP | 84 | 386 | 730 | 1,316 | 331 | 334 | 339 | 342 | 344 | 349 | 349 | 349 |
| Investments | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 9 | 10 | 2 | 1 |
| Other Assets | 485 | 550 | 618 | 761 | 751 | 922 | 964 | 1,674 | 1,715 | 1,772 | 1,454 | 2,251 |
| Total Assets | 1,426 | 1,794 | 2,207 | 2,936 | 2,978 | 3,295 | 3,286 | 4,001 | 4,121 | 4,183 | 3,837 | 4,716 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -25 | 156 | 80 | 279 | 225 | 145 | 144 | 121 | 81 | 56 | 41 | -233 |
| Cash from Investing Activity | -85 | -303 | -346 | -587 | -77 | -71 | -10 | 27 | -3 | -32 | 19 | -1 |
| Cash from Financing Activity | 113 | 219 | 228 | 317 | -133 | -87 | -130 | -148 | -76 | -13 | -39 | 210 |
| Net Cash Flow | 3 | 72 | -38 | 9 | 15 | -12 | 4 | -0 | 1 | 11 | 21 | -23 |
| Free Cash Flow | -25 | -147 | -266 | -309 | 148 | 57 | 134 | 119 | 84 | 25 | 53 | -233 |
| CFO/OP | -42% | 233% | 101% | 359% | 208% | 107% | 89% | 78% | 58% | 28% | 23% | -271% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 84 | 105 | 113 | 145 | 105 | 155 | 178 | 269 | 278 | 157 | 114 | 246 |
| Inventory Days | 6 | 0 | 8 | 3 | 25 | 0 | 0 | 15 | 8 | 4 | 4 | 5 |
| Days Payable | 46 | 27 | 31 | 58 | 84 | 103 | 70 | 197 | 156 | 15 | 66 | 141 |
| Cash Conversion Cycle | 44 | 78 | 90 | 90 | 46 | 52 | 108 | 88 | 130 | 146 | 53 | 110 |
| Working Capital Days | 35 | 52 | 61 | -26 | 17 | 39 | 82 | 70 | 100 | 123 | 42 | 77 |
| ROCE % | 7% | 5% | 5% | 4% | 4% | 7% | 6% | 5% | 5% | 8% | 5% | 2% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 55.01% | 55.01% | 55.01% | 55.01% | 55.01% | 55.01% | 55.01% | 55.01% | 55.01% | 55.01% | 55.01% | 55.01% |
| FIIs | 9.91% | 9.73% | 9.71% | 9.71% | 9.70% | 9.70% | 9.70% | 9.70% | 9.70% | 9.70% | 9.70% | 9.70% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.14% | 0.14% | 0.14% | 0.14% | 0.12% | 0.00% | 0.00% |
| Public | 35.08% | 35.25% | 35.28% | 35.28% | 35.28% | 35.15% | 35.15% | 35.15% | 35.15% | 35.17% | 35.29% | 35.30% |
| No. of Shareholders | 3,069 | 3,142 | 3,248 | 3,948 | 4,664 | 5,666 | 6,420 | 6,829 | 6,563 | 6,724 | 6,683 | 6,631 |
Fundamentals
Market Cap₹ 397 Cr.
Current Price₹ 148
Book Value₹ 1,068
ROCE1.52 %
ROE0.71 %
Dividend Yield0.03 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)-13%
Compounded Profit Growth (TTM)-101%
Consolidated figures.
Valuation
Market capRs 397 Cr
Enterprise valueRs 807 Cr
Price to book0.14x
Price to sales0.12x
EV / EBITDA11.51x
EV / EBIT29.10x
EV / sales0.24x
Earnings yield-0.20%
Dividend yield0.03%
P/E, 3-year average15.36x
P/B, 3-year average1.14x
P/E, 5-year average7.44x
P/B, 5-year average0.48x
Profitability
Operating margin (excl. other income)2.74%
Operating margin (incl. other income)2.83%
EBITDA margin2.05%
Pre-tax margin-0.02%
Net profit margin-0.02%
Net margin, latest quarter0.41%
ROE0.71%
ROCE1.52%
ROA0.46%
ROE, 3-year average4.29%
ROCE, 3-year average5.03%
ROA, 3-year average2.60%
ROE, 5-year average4.46%
ROCE, 5-year average4.99%
ROA, 5-year average2.60%
ROIC (approx.)0.85%
Tax rate-0.36%
Other income / net worth0.10%
Growth
Sales growth (latest year)-24.05%
Profit growth (latest year)-82.65%
Sales CAGR, 3 years12.90%
Sales CAGR, 5 years10.65%
Profit CAGR, 3 years-40.77%
Profit CAGR, 5 years-29.03%
Sales growth QoQ68.79%
Sales growth YoY (latest quarter)52.99%
Profit growth YoY (latest quarter)-84.84%
Per share
EPS (TTM)Rs -0.29
EPS (latest quarter)Rs 1.37
EPS, 3-year averageRs 69.69
EPS, 5-year averageRs 48.04
Book value per shareRs 1,068.32
Sales per shareRs 1,276.93
Cash flow per shareRs -86.79
Free cash flow per shareRs -86.91
Dividend per share, 3-year averageRs 0.05
Dividend per share, 5-year averageRs 0.05
Dividends
Dividend payout0.66%
Dividend payout, 3-year average0.28%
Dividend payout, 5-year average0.22%
Efficiency
Asset turnover0.66x
Fixed asset turnover1.47x
Inventory turnover71.37x
Inventory days5 days
Debtor days246 days
Debtors turnover1.49x
Creditor days141 days
Cash conversion cycle110 days
Working capital days77 days
Leverage
Total debtRs 438 Cr
Cash and bankRs 28 Cr
Net debtRs 410 Cr
Debt to equity0.15x
Net debt / EBITDA5.85x
Interest coverage0.97x
Owners' fund to total sources60.74%
Debt to assets9.29%
Cash flow
Cash from Operating Activity (latest year)Rs -233 Cr
Cash from Investing Activity (latest year)Rs -1 Cr
Cash from Financing Activity (latest year)Rs 210 Cr
Net Cash Flow (latest year)Rs -23 Cr
Free cash flow (latest year)Rs -233 Cr
FCFE (approx.: FCF + change in debt)Rs 7 Cr
Cash from ops / profit, 5 years0.13x
Statement figures
Net sales (TTM)Rs 3,423 Cr
Net sales (latest year)Rs 3,113 Cr
Sales (latest quarter)Rs 898 Cr
Operating profit excl. other income (latest year)Rs 85 Cr
Operating profit (latest quarter)Rs 20 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 70 Cr
PBDT (TTM)Rs 42 Cr
Profit before tax (TTM)Rs -1 Cr
Tax (latest year)Rs -0 Cr
Net profit (TTM)Rs -1 Cr
Net profit (latest year)Rs 20 Cr
Net profit (latest quarter)Rs 4 Cr
Depreciation (TTM)Rs 42 Cr
Depreciation (latest quarter)Rs 11 Cr
Interest (TTM)Rs 29 Cr
Cost of goods sold (latest year)Rs 2,978 Cr
Total expenditure (latest year)Rs 3,027 Cr
Total income (latest year)Rs 3,115 Cr
Share capitalRs 3 Cr
ReservesRs 2,862 Cr
Shareholders' fundsRs 2,864 Cr
Total assetsRs 4,716 Cr
Net blockRs 2,114 Cr
Capital work in progressRs 349 Cr
InvestmentsRs 1 Cr
ReceivablesRs 2,096 Cr
InventoryRs 42 Cr
Other liabilitiesRs 1,413 Cr
Shares outstanding (crore)2.68
Ownership
Promoter holding55.01% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/B 0.14 is at the 26th percentile (median 0.18).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | 512229 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -4.7% | -2.8% | -1.9 pts |
| 1 month | -11.7% | -6.8% | -4.9 pts |
| 3 months | -13.5% | -7.6% | -5.9 pts |
| 3 years | -33.8% | +14.2% | -48.0 pts |
| 5 years | -7.3% | +27.9% | -35.2 pts |
Red flags
F-score 2 of 8| explain | Weak cash conversion Cash from operations was -42% of net profit over the last 3 years |
| explain | Receivables outrunning sales Receivables grew 63% vs sales -24% in 2026 |
| explain | Debt up, profit down Borrowings up 121% while net profit fell in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹898 Cr +53.0% vs Jun 2025.
Net profit ₹4 Cr -84.8%.
Activity
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| CHD Chemicals Ltd | 6 | -0.42 % | |
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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Veritas (India) Ltd?
Veritas (India) Ltd (512229) has a market capitalisation of Rs 397 Cr. at the 2026-10-01 close.
What were Veritas (India) Ltd's latest quarterly results?
In the Jun 2026 quarter, Veritas (India) Ltd sales was Rs 898 Cr (+53.0% vs Jun 2025) and net profit was Rs 4 Cr.