VETO SWITCHGEARS AND CABLES LIMITED

BSE: VETO539331ISIN INE918N01018

Consumer Discretionary
Consumer Electronics

Share price

₹123.55+1.50 (+1.23%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹158.20
52W low: ₹83.00
Off 52W high: -21.90%
1M return: -9.95%
3M return: -0.24%
6M return: +10.21%
1Y return: +4.93%
20D avg volume: 2,969
50 DMA: ₹131.25
200 DMA: ₹117.61

Key ratios Consolidated

Market cap: ₹236.17 Cr
Current price: ₹123.55
52W high / low: ₹158.20 / ₹83.00
Face value: ₹10.00
P/E: 8.75
P/B: 0.82
EPS (TTM): ₹14.13
Book value / share: ₹151.55
ROE: —
ROCE: 11.90%
Operating margin: —
Net margin: —
Debt / equity: 0.07
Net debt: ₹19.52 Cr
Interest cover: 17.94
Dividend yield: 0.81%
Dividend / share (TTM): ₹1.00
Payout: 7.08%
Cash conversion cycle: 218.4 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24
Income statement
	89.36	138.86	94.22	88.77	64.87	89.18	75.71	74.28	61.21	—
	0.53	0.19	0.55	0.85	0.35	0.52	1.45	0.15	0.42	—
	89.89	139.05	94.77	89.62	65.22	89.70	77.16	74.43	61.63	—
	81.67	127.20	86.02	81.79	60.30	79.90	71.94	66.42	55.13	—
	29.69	57.00	22.47	32.18	23.87	27.33	25.39	32.38	28.07	—
	41.83	45.66	41.04	46.32	25.43	30.13	25.76	25.60	22.84	—
	6.59	7.11	6.18	5.90	5.04	4.87	4.80	4.66	4.53	—
	0.74	0.51	0.47	0.37	0.63	0.71	0.50	0.04	0.39	—
	1.01	1.09	1.13	1.02	1.09	0.84	0.93	0.66	0.63	—
	11.03	13.07	11.01	9.39	7.90	8.50	8.23	7.92	6.09	—
	8.22	11.85	8.76	7.83	4.93	9.81	5.22	8.01	6.50	—
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—
	8.22	11.85	8.76	7.83	4.93	9.81	5.22	8.01	6.50	—
	2.37	3.05	2.48	1.76	1.49	2.47	1.58	2.46	1.62	—
	5.85	8.80	6.27	6.08	3.43	7.34	3.63	5.97	4.88	—
	3.10	4.59	3.45	3.18	1.80	3.84	1.90	3.12	2.55	—
Key metrics
	9.97	13.45	10.36	9.22	6.65	11.36	6.65	8.71	7.52	—
	11.20%	9.70%	11.00%	10.40%	10.30%	12.70%	8.80%	11.70%	12.30%	—
	6.50%	6.30%	6.70%	6.80%	5.30%	8.20%	4.80%	8.00%	8.00%	—
	—	4.20%	—	2.90%	—	3.80%	—	—	—	—
	37.80%	55.70%	24.40%	19.50%	6.00%	—	—	—	—	—
	70.60%	19.90%	72.70%	1.80%	-29.70%	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	411.21	386.71	300.38	—
	2.12	1.95	2.55	—
	413.33	388.66	302.93	—
	376.68	355.30	273.40	—
	141.34	135.52	113.17	—
	174.85	158.45	104.33	—
	25.78	24.24	18.86	—
	2.09	1.97	1.64	—
	4.25	4.33	3.06	—
	44.50	41.37	30.74	—
	36.66	33.37	29.54	—
	0.00	0.00	0.00	—
	36.66	33.37	29.54	—
	9.66	8.78	7.73	—
	27.00	24.58	21.82	—
	14.32	13.15	11.41	—
Key metrics
	43.00	39.67	34.24	—
	10.46%	10.30%	11.40%	—
	6.57%	6.40%	7.30%	—
	—	11.90%	11.40%	—
	35.25%	28.70%	—	—
	32.55%	12.60%	—	—
	—	5.16	-4.76	—
	—	0.42	0.69	—
	—	0.07	0.09	—
	—	19.52	21.73	—
	—	218.4	259.7	—
Balance sheet
	—	397.85	332.23	—
	—	323.02	258.97	—
	—	1.91	1.05	—
	—	163.78	147.24	—
	—	102.84	94.85	—
	—	48.30	10.52	—
	—	36.17	37.58	—
	—	35.23	28.38	—
	—	101.19	58.44	—
	—	21.43	22.78	—
	—	19.38	20.26	—
	—	2.05	2.52	—
	—	290.12	267.43	—
Cash flow
	—	10.38	14.99	—
	—	-4.18	-18.49	—
	—	-5.34	-3.00	—
	—	5.22	19.75	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24
Income statement
	58.06	74.79	70.37	58.13	43.24	67.19	54.12	52.98	41.74	—
	2.18	1.77	1.85	2.25	1.58	1.67	2.35	1.35	1.25	—
	60.24	76.57	72.22	60.39	44.82	68.87	56.47	54.33	42.99	—
	52.15	65.85	63.54	53.06	39.91	59.12	51.33	47.10	37.27	—
	19.41	22.33	20.36	20.04	16.36	18.88	16.76	21.51	16.37	—
	26.85	31.07	24.85	30.09	16.91	23.78	19.66	21.48	17.51	—
	3.14	3.19	3.09	2.82	2.72	2.79	2.73	2.82	2.69	—
	0.46	0.35	0.35	0.28	0.46	0.60	0.33	0.06	0.26	—
	0.79	0.84	0.88	0.87	0.76	0.64	0.72	0.55	0.52	—
	6.84	7.61	7.11	6.11	5.41	7.80	5.43	4.53	4.05	—
	8.09	10.71	8.68	7.33	4.91	9.74	5.14	7.24	5.72	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—
	8.09	10.71	8.68	7.33	4.91	9.74	5.14	7.24	5.72	—
	2.12	2.71	2.26	1.64	1.19	1.79	1.30	1.81	1.41	—
	5.97	8.00	6.42	5.69	3.72	7.95	3.84	5.42	4.32	—
	3.12	4.19	3.36	2.98	1.95	4.16	2.01	2.84	2.26	—
Key metrics
	9.34	11.90	9.91	8.48	6.13	10.98	6.19	7.85	6.50	—
	16.10%	15.90%	14.10%	14.60%	14.20%	16.30%	11.40%	14.80%	15.60%	—
	10.30%	10.70%	9.10%	9.80%	8.60%	11.80%	7.10%	10.20%	10.30%	—
	—	3.90%	—	2.80%	—	3.90%	—	—	—	—
	34.30%	11.30%	30.00%	9.70%	3.60%	—	—	—	—	—
	60.50%	0.60%	67.20%	5.00%	-13.90%	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	261.35	246.54	216.04	—
	8.05	7.45	6.62	—
	269.42	253.99	222.66	—
	234.60	222.36	194.82	—
	82.14	79.09	73.52	—
	112.86	102.92	82.43	—
	12.24	11.83	11.04	—
	1.44	1.45	1.24	—
	3.38	3.36	2.43	—
	27.67	26.24	21.82	—
	34.81	31.63	27.84	—
	0.00	0.00	0.00	—
	34.81	31.63	27.84	—
	8.73	7.79	6.31	—
	26.08	23.83	21.52	—
	13.65	12.47	11.26	—
Key metrics
	39.63	36.44	31.51	—
	15.16%	14.80%	14.60%	—
	9.98%	9.70%	10.00%	—
	—	11.60%	11.00%	—
	20.14%	14.10%	—	—
	24.61%	10.70%	—	—
	—	22.67	7.10	—
	—	1.03	0.74	—
	—	0.04	0.06	—
	—	11.72	16.18	—
	—	222.1	258.1	—
Balance sheet
	—	360.56	301.01	—
	—	219.06	180.29	—
	—	0.33	0.30	—
	—	102.79	99.12	—
	—	69.34	70.23	—
	—	40.91	0.00	—
	—	16.92	18.35	—
	—	22.17	16.66	—
	—	74.36	36.21	—
	—	12.05	16.48	—
	—	10.40	14.32	—
	—	1.65	2.16	—
	—	280.73	258.79	—
Cash flow
	—	24.44	15.88	—
	—	-16.50	-23.27	—
	—	-7.90	0.61	—
	—	1.77	8.78	—

Compounded growth

Standalone

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +20.14%
Profit YoY (TTM): +24.61%

Consolidated

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +35.25%
Profit YoY (TTM): +32.55%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 45.06%

Quarter	September 2026	June 2026
Promoter %	45.06%	45.06%

Holder	Type	Holding	Previous	Change
VETO ELECTROPOWERS (INDIA) PRIVATE LIMITED	Promoter	32.28%	32.28%	0.00%
HARISH KUMAR GURNANI	Promoter Group	3.84%	3.84%	0.00%
AKSHAY KUMAR GURNANI	Promoter Group	3.60%	3.60%	0.00%
RISHABH PANT	Public	3.02%	2.67%	+0.35%
DHEERAJ KUMAR LOHIA	Public	1.55%	1.55%	0.00%
PUSHPA DEVI GURNANI	Promoter Group	1.49%	1.49%	0.00%
KANISHK KISHORE GURNANI	Promoter Group	1.24%	1.24%	0.00%
ROHIT GURNANI	Promoter Group	1.22%	1.22%	0.00%
MAHENDRA GIRDHARILAL WADHWANI	Public	1.18%	1.18%	0.00%
PRIYANKA KISHORE GURNANI	Promoter Group	0.92%	0.92%	0.00%
KISHORE KUMAR GURNANI	Promoter Group	0.29%	0.29%	0.00%
SITADEVI GURNANI	Promoter Group	0.08%	0.08%	0.00%
NARAIN DAS GURNANI	Promoter	0.07%	0.07%	0.00%
MUKESH GURNANI	Promoter Group	0.03%	0.03%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Dixon Technologies (India) Limited	75,057	12,270.10	42.96	33.80%	+20.82% TTM	+2.36% TTM	-19.56%
Havells India Limited	66,967	1,067.10	40.28	21.80%	+16.50% TTM	+13.80% TTM	-28.21%
PG Electroplast Limited	15,360	535.65	70.88	10.50%	+21.04% TTM	-14.85% TTM	-6.01%
IKIO Technologies Limited	1,341	173.55	26.70	9.60%	+34.54% TTM	+123.90% TTM	-16.58%
ONIDA ELECTRONICS LIMITED S	987	26.70	-8.61	-20.50%	+9.71% TTM	-523.64% TTM	-0.07%
CWD Limited	617	255.55	—	18.00%	—	—	-21.14%
UNIVERSUS PHOTO IMAGINGS LIMITED	534	488.25	-30.38	2.50%	-5.21% TTM	-121.46% TTM	+75.25%
WISCON INDUSTRIES LIMITED	407	203.85	—	—	—	—	—
SMAART TECH SERVICES LIMITED S	351	135.45	-14.18	7.30%	-100.00% TTM	-26.35% TTM	+160.48%
VETO SWITCHGEARS AND CABLES LIMITED	236	123.55	8.75	11.90%	+35.25% TTM	+32.55% TTM	+4.93%
BPL Ltd.	208	42.56	-10.51	-1.10%	+9.36% TTM	-33.90% TTM	-41.63%
NANTA TECH LIMITED	166	324.25	—	—	—	—	—
Calcom Vision Ltd.	117	83.43	130.66	8.90%	+26.74% TTM	-75.07% TTM	-20.81%
Khaitan (India) Ltd. S	69	146.00	7.72	20.00%	+51.37% TTM	+47.30% TTM	+22.69%
Comrade Appliances Limited S	31	39.73	-3.27	-30.60%	—	—	-54.85%
Samtel (India) Ltd. S	30	42.44	51.13	-20.90%	+700.00% TTM	+186.76% TTM	—
VXL Instruments Ltd. S	7	5.10	-16.45	18.00%	-100.00% TTM	+92.84% TTM	+63.99%

Some figures use IPO-document inputs. Growth periods are shown per value; FY means annual.

Filings & corporate actions

Recent announcements

Veto Switchgears And Cables Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 06/11/2026 ,inter alia, to consider and approve In compliance of ....3 Nov 2026 · Board Meeting / Board Meeting
Certificate under Regulation 74(5) of SEBI(DP) Regulation, 2018 for the quarter ended 30th September, 2026.14 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Submission of Voting Results along with Scrutinizer''s Report for the 19th AGM held on Monday, 28th September, 2026.30 Sep 2026 · AGM/EGM / AGM
Pursuant to the SEBI(Prohibition of Insider Trading) Regulations, 2015 and in term of the provisions of the " Code of Conduct" for the trading in Listing Securities of Veto Switchgears ....29 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Proceedings of 19th Annual General Meeting dated 28.09.202628 Sep 2026 · AGM/EGM / AGM
In terms of Regulation 47 of the SEBI (LODR) Regulations, 2015 read with the applicable circulars and notifications issued thereunder, we hereby enclose the Newspaper Clippings published ....7 Sep 2026 · Company Update / Newspaper Publication
In terms of Regulation 47 of the SEBI(LODR) Regulation, 2015 read with corresponding circulars and notifications issued thereunder, we are enclosing herewith the Newspaper Clippings from ....6 Sep 2026 · Company Update / Newspaper Publication
We are pleased to inform you that pursuant to the regulation 44 of SEBI (LODR) Regulation 2015 & section 108 of the companies act 2013 read with the Rule 20 of the companies (Management ....4 Sep 2026 · Company Update / General
Pursuant to regulation 42 of the SEBI (LODR) Regulations, 2105 we hereby inform the record date i.e. 21st September 2026 for determining the entitlement of Members for payment of dividend, ....4 Sep 2026 · Corp. Action / Record Date
Intimation of book closure from 22nd September 2026 to 28th September 2026.4 Sep 2026 · Corp. Action / Book Closure
In terms of regulation 34 of securities and exchange board of India (LODR) Regulation, 2015, we enclose herewith copy of 19th Annual Report of Veto Switchgears and Cables Limited for the ....4 Sep 2026 · Others / Reg. 34 (1) Annual Report
With reference to subject captioned above, please find enclosed herewith the Notice convening 19th AGM of the company schedule to be held on Monday, 28th September 2026, through video conferencing/ ....4 Sep 2026 · AGM/EGM / AGM
Outcome of board meeting held on 4th September 2026 for approval of annual report, board report, notice of 19th AGM, Revision in remuneration of MD, WTD, Non-executive director.4 Sep 2026 · Others / Outcome without intimation
In terms of Regulation 47 of the SEBI(LODR) Regulation, 2015 read with corresponding circulars and notifications issued thereunder, we are enclosing herewith the Newspaper Clippings from ....2 Sep 2026 · Company Update / Newspaper Publication
In compliance with the provisions of Regulation 47 SEBI (Listing Obligations and Disclosure Requirements) Regulation ,2015, read with corresponding circulars and notifications issued thereunder, ....13 Aug 2026 · Company Update / Newspaper Publication
Pursuant to the provisions of Regulation 30 and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with corresponding circulars and notifications ....12 Aug 2026 · Board Meeting / Outcome of Board Meeting
Veto Switchgears And Cables Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 12/08/2026 ,inter alia, to consider and approve In compliance of ....8 Aug 2026 · Board Meeting / Board Meeting
Certificate under Regulation 74(5) of SEBI (DP) Regulation, 2018 for the Quarter ended 30th June, 202610 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Pursuant to the SEBI(PIT) Regulation, 2015 and in terms of the provisions of the " Code of Conduct" for trading in Listed Securities of Veto Switchgears and Cables Limited, the " Trading ....29 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Format of the Annual Disclosure to be made by an entity identified as a Large Corporate. <table border=''1px''> <tr> <td>Sr. No.</td> <td>Particulars</td> ....20 Jun 2026 · Others / Format of the Annual Disclosure to be made by an entity identified as a LC : Annexure B2
Format of Initial Disclosure to be made by an entity identified as a Large Corporate. <table border=''1px''><tr> <td>Sr. No.</td> <td>Particulars</td> <td>Details</td> ....20 Jun 2026 · Others / Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
Pursuant to Regulation 30 of the SEBI (LODR) Regulations,2015, we herby inform you that Mr. Kanishk Kishore Gurnani (Promoter/Shareholder) has transferred 175000 equity shares of Veto Switchgears ....3 Jun 2026 · Company Update / General
In compliance with the provisions of Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, read with corresponding circulars and notifications issued ....30 May 2026 · Company Update / Newspaper Publication
Pursuant to the Regulation 30 of SEBI (LODR) Regulations, 2015, the Board of directors of the company in their meeting held today i.e. on 28th may 2026 has considered and approved the reaapointment ....28 May 2026 · Company Update / Change in Management
Audited Financial results (Standalone and consolidated) for the financial year ended 31 march, 2026 alongwith auditors report thereon.28 May 2026 · Result / Financial Results
Audited Financial results (Standalone and consolidated) for the financial year ended 31 march, 2026 alongwith auditors report thereon.28 May 2026 · Result / Financial Results
Pursuant to the Regulation 30 and 33 of SEBI (LODR) Reg 2015, the Board consider and approve audited financial statement ( standalone & consolidated) for the year ended 31 march 2026, recommended ....28 May 2026 · Board Meeting / Outcome of Board Meeting
Veto Switchgears And Cables Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 28/05/2026 ,inter alia, to consider and approve 1. Audited Financial ....25 May 2026 · Board Meeting / Board Meeting
Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulation, 2018 for the quarter ended 31st March, 2026.7 Apr 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Pursuant to the Securities and Exchange Board of India(Prohibition of Insider Trading ) Regulations,2015 and in terms of the provisions of the "Code Of Conduct" for trading in Listed Securities ....31 Mar 2026 · Insider Trading / SAST / Closure of Trading Window
In compliance with the provisions of Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulation,2015 , read with corresponding circulars and notifications issued ....14 Feb 2026 · Company Update / Newspaper Publication
Outcome of Borad Meeting - 13.02.202613 Feb 2026 · Board Meeting / Outcome of Board Meeting
Pursuant to the provisions of regulations 30 and regulation 33 of SEBI (LODR) Regulations,2015 read with corresponding circulars and notifications issued thereunder,we enclose herewith ....13 Feb 2026 · Result / Financial Results
Veto Switchgears And Cables Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/02/2026 ,inter alia, to consider and approve Standalone and ....9 Feb 2026 · Board Meeting / Board Meeting
Certificate under Regulation 74(5) of the SEBI (Depositories and Participants ) Regulations, 2018 for the Quarter ended 31st December, 2025.9 Jan 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Pursuant to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations,2015 and in terms of the provisions of the "Code of Conduct" for trading in Listed Securities ....30 Dec 2025 · Insider Trading / SAST / Closure of Trading Window
In compliance with the provisions of Regulation 47 of SEBI (LODR) Regulations,2015, read with corresponding circulars and notifications issued thereunder, we are pleased to enclose copies ....15 Nov 2025 · Company Update / Newspaper Publication
Outcome of Board Meeting14 Nov 2025 · Board Meeting / Outcome of Board Meeting
Pursuant to the provisions of Regulation 30 and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with corresponding circulars and notifications ....14 Nov 2025 · Result / Financial Results
Veto Switchgears And Cables Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 14/11/2025 ,inter alia, to consider and approve In compliance of ....11 Nov 2025 · Board Meeting / Board Meeting

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 1.0000	21 Sep 2026	21 Sep 2026	—
Final Dividend - Rs. - 1.0000	22 Sep 2025	22 Sep 2025	—
Final Dividend - Rs. - 1.0000	20 Sep 2024	—	—

Board meetings

6 Nov 2026 Board Meeting - Financial Results
12 Aug 2026 Board Meeting - Financial Results