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Veto Switchgears And Cables Limited (VETO)

Small Cap

Media stocks · Small cap · NSE

Veto Switchgears And Cables Limited operates in Telecom Services / Equipment, within the Media sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.

₹129.24
-10.30 · -7.38%
Market cap ₹261 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 12:17 pm IST
Details
Quote21 Oct, 12:17 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 01:44 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Media P/E 15.0 (n=57)
Technical timing lens

Trend score and candlestick chart

86Strong Bull

full bull SMA stack · SMA20 +8.9% / mo · MACD − · sector +14.4pp vs Nifty 500 (3M)

Stock trend: 77
Sector RS: 100
Sector 3M: +8.4% vs Nifty 500 -6.0%

Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence

Technical chart

VETOD candles · FIT view+17.0%TODAY · PROVISIONAL
Latest price ₹129.24 on 2026-10-21

Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.

Bar
-8.6%
RSI
44
MACD hist
-1.14
52W pos
64%
Visible chart range
Candle interval
2026-10-21O ₹141.40H ₹142.00L ₹128.37C ₹129.24Vol 31,808 shIntraday candle
₹99.34₹114.16₹128.97₹143.78₹158.5952H₹129.242026-032026-06VolRSIMACD2026-042026-062026-082026-092026-11
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context

Relative performance and chart statistics

Adjusted completed-session prices, rebased to 100

VETONifty MediaNifty 500
-10%+0%+10%+20%20 Jul1 Sept19 Oct19 Oct 2026VETO +9.3%Nifty Media +7.0%Nifty 500 -5.6%
VETO
+9.3%
Nifty 500
-5.6%
Nifty Media
+7.0%
Vs Nifty 500
+14.9 pp
Chart stats
19 Oct 2026
From 52W high
-10.5%
₹155.9
52W range position
78%
₹82.3 - ₹155.9
ATR (14)
4.8%
₹6.6
Volume vs 20D
0.84x
Latest completed session
Avg traded value
₹1.6 Cr
20-session average
20D price channel
₹130.6 - ₹155.9
44.1% annualized volatility
Research snapshot

What the evidence says now

Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend supports entry, and recent execution is consistent.

Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE
58

Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.

Latest result
Excellent
90

Revenue +37.8% · PAT +70.5% YoY

Technical
Strong Bull
86

Price trend and sector-relative-strength timing.

Valuation
Legacy model
+66.6%

Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.

Trust
Limited evidence
78

Financial-only signal; management claim evidence is not sufficient yet.

Financials

Fundamentals, quarterly history, margins, returns and balance-sheet evidence

Latest result

Quarter ended 30 Jun 2026

Excellent · 90/100

Rev +38% YoY · PAT +71% YoY · margin expansion · operating leverage

Filed 30 Jun 2026
Open results browser →
MetricThis quarterYoYQoQ
Revenue₹89.4 Cr+37.8%-35.6%
EBITDA₹9.4 Cr+49.8%-28.8%
Operating margin10.6%+85 bps+101 bps
PAT₹5.9 Cr+70.5%-33.5%
PAT margin6.5%+126 bps+21 bps

NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.

Fundamentals

Valuation

P/E
9.55
P/B
0.90
EV/EBITDA
6.27
Market Cap
261.00Cr

Profitability

ROE
8.84%
ROCE
11.60%
ROA
6.78%
Dividend Y
0.73%

Growth (CAGR)

Revenue 5Y
16.00%
EPS 5Y
11.00%
Revenue 3Y
10.00%
EPS 3Y
7.00%

Balance Sheet

Debt/Equity
0.07
Interest Coverage
20.50×
Altman Z
4.04
Book Value
152.00

Cash Flow

FCF Yield
2.30%
FCF Positive Y
8/5
OCF
10.00 Cr
EPS TTM
14.32

Shareholding

Promoter Hold
45.06%
Promoter Pledge
0.00%
Momentum 52W
72%

Financial History

Updated 19/10/2026

Revenue

₹ Cr
Latest: 387+29.0% vs prev
0387.0Mar 2017: 239Mar 2018: 253Mar 2019: 218Mar 2020: 150Mar 2021: 181Mar 2022: 267Mar 2023: 290Mar 2024: 300Mar 2025: 300Mar 2026: 387FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26

Net Profit

₹ Cr
Latest: 25.0+13.6% vs prev
029.0Mar 2017: 18.0Mar 2018: 29.0Mar 2019: 12.0Mar 2020: 9.0Mar 2021: 15.0Mar 2022: 20.0Mar 2023: 20.0Mar 2024: 18.0Mar 2025: 22.0Mar 2026: 25.0FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26

Return on Equity

%
Latest: 8.6+4.2% vs prev
019.6Mar 2017: 17.8%Mar 2018: 19.6%Mar 2019: 7.2%Mar 2020: 5.1%Mar 2021: 7.7%Mar 2022: 9.4%Mar 2023: 8.6%Mar 2024: 7.3%Mar 2025: 8.3%Mar 2026: 8.6%FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26

Technicals

Trend interpretation, Stage 2, relative strength, volume and indicator evidence

Daily technical trend read

Mixed signals

Signals are conflicting — long-term uptrend intact. RSI 44. Wait for confirmation.

  • Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
  • SMA20 rising (~7.1% over last month) — short-term momentum positive.
  • RSI(14) at 44 — falling, no extreme reading.
  • MACD below signal but histogram contracting — bearish momentum easing.
  • 17% off 52W high · 57% above 52W low.

Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.

Nifty 500 leadership

Relative Strength & Trend Stage

79
RS percentile
Stage 2 UptrendEstablished S2
1M return
+0.3%
3M return
+9.3%
6M return
+30.0%
1Y return
+15.6%
RS 1D
+6
RS 20D
+2
Sector rank
#15
Industry rank
#49
Stage evidence
  • Price is 14.9% above the 30-week proxy.
  • The 50-DMA is above the 30-week proxy and its slope is rising +4.4%.
  • Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
11 Jun 2026
S2 age
91 trading sessions
Sector
lagging
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 123.96+5.79%
7892105119133Sept 25Feb 26Jun 26Oct 26124
RS vs Nifty 500124

Valuation & peers

U-Score 58 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies

58U-SCORE
Deep Value

Fundamental score breakdown

U band · FAIR VALUE
Valuation26/30
Growth11/25
Quality2/20
Balance Sheet11/15
Cash Flow6/10
Piotroski
8/9 (+5)
Penalties
-3
Raw sum
58

Why this score?

Top U-Score contributors and drags from the latest stored fundamentals.

58/100 · legacy band FAIR VALUE

Positive drivers

  • Piotroski is strong at 8/9.
  • Fair-value margin of safety is positive at 66.6%.
  • Valuation contributes 26/30 to the score.

Main drags

  • Penalty bucket subtracts 3 points.
  • Quality is weaker at 2/20; verify the latest quarterly trend.
  • Growth is weaker at 11/25; verify the latest quarterly trend.
Sector valuation model

Telecom valuation: EV/EBITDA against ARPU, debt, and capex

Telecom needs enterprise-value and cash-flow framing because leverage is structurally important.

Telecom EV/EBITDA
Primary lens
EV/EBITDA and debt-adjusted cash generation.
Secondary checks
ARPU growth, subscriber quality, spectrum liabilities, capex intensity.
Main risk check
High EBITDA can still be weak equity value if debt and capex absorb cash.
PE
9.6
PB
0.9
EV/EBITDA
6.3
ROE
8.8%
ROCE
11.6%
FCF Yield
2.3%
Debt/Equity
0.1
MoS
+66.6%
Score movement

Stored run vs live recompute

This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.

Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
58
Previous: 57 (+1)
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+66.6%
Previous: +63.9%

Score history

12 stored score snapshots. Latest stored move: +0 points.

21 Oct 2026
v4.3-runtime-valuation
58
58
58
57
57
58
58
57
57
57
57
57

Factor attribution

Valuation
26+1
was 25

Modelled fair value

Graham Number
₹221.3
+41.6% MoS
Growth-justified P/E
27.0
Growth-justified Value
₹386.64
+66.6% MoS
PEG
1.02

Comparable companies

Peers

Business-comparable peers in Media — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.

Compare all ↗
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
RADIOCITY
Small
Music Broadcast Limited
Telecom
match 98
38
4.3
139.0%
-62%
WATCHLIST
SHEMAROO
Small
Shemaroo Entertainment Limited
Telecom
match 96
14
—
-58.8%
—
OVERVALUED
PLAZACABLE
Small
Plaza Wires Limited
Telecom
match 95
30
23.3
5.7%
+16%
OVERVALUED
SAMBHAAV
Small
Sambhaav Media Limited
Telecom
match 94
30
—
0.3%
—
OVERVALUED
TOUCHWOOD
Small
Touchwood Entertainment Limited
Telecom
match 93
35
20.4
9.7%
+10%
WATCHLIST

Business, management & trust

Growth engines, risks, management commitments and evidence-backed delivery

Business and thesis

Issuer presentation review pending

Veto Switchgears And Cables Limited operates in Telecom Services / Equipment, within the Media sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.

Trust Score
78Limited evidence · low confidenceTrust Lite

Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.

Limited evidence: Claim history is still being built. It ranks around the 86th percentile of the scored universe and 97th percentile within Media. No major sub-score weakness stands out.

This is a financial-behaviour screen, not a claim-tested management reliability verdict.

Computed 05 Sept 2026
management-trust-v1
6 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence

Financial behaviour is scored, but management claims do not yet have enough outcome checks.

Relative rank
86th percentile

overall median 67 · Media: 97th pctile, median 63 · Small: 89th pctile, median 66

Evidence depth
Financial-only

6 documents have extracted text, but claim history is not strong enough yet.

Claim delivery
Outcome history still building

0 claims extracted · No contradicted claim yet

How to read this Trust Score

Limited evidence · low confidence
What it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.

Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.

Forensic breakdown

Read low sub-scores as due-diligence warnings, not automatic sell signals.

Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
82
strong · quarterly consistency

Trust positives

  • ▸Promoter pledge is zero.
  • ▸FCF yield is positive at 2.5%.
  • ▸8 years of positive FCF.
  • ▸Debt/equity is 0.07.

Trust risks

  • ▸2 older quarters in the 8-quarter window had PAT decline worse than 25% YoY.

Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.

Important announcements & filings

Latest exchange and company disclosures found within the past two years.

7 shown
Announcement

Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Sep - As per Regulation 47 of the SEBI (LODR) Regulations, 2015 read with the applicable circulars and notifications issued thereunder, we hereby enclose the Newspaper Clippings …

Source: Bse

Open source ↗
Announcement

Announcement under Regulation 30 (LODR)-Newspaper Publication 6 Sep - As per Regulation 47 of the SEBI(LODR) Regulation, 2015 read with corresponding circulars and notifications issued thereunder, we are enclosing herewith the Newspaper Clippings from …

Source: Bse

Open source ↗
Announcement

Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Aug - In compliance with the provisions of Regulation 47 SEBI (LODR) Regulation ,2015, read with corresponding circulars and notifications issued thereunder, ....

Source: Bse

Open source ↗
Announcement

Announcement under Regulation 30 (LODR)-Newspaper Publication 30 May - In compliance with the provisions of Regulation 47 of SEBI (LODR) Regulation 2015, read with corresponding circulars and notifications issued thereunder, we are pleased to …

Source: Bse

Open source ↗
Verify on:NSE India ↗
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.