Veto Switchgears And Cables Limited (VETO) - Net Assets
Based on the latest financial reports, Veto Switchgears And Cables Limited (VETO) has net assets worth Rs2.77 Billion INR (≈ $29.95 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs3.52 Billion ≈ $38.03 Million USD) and total liabilities (Rs747.50 Million ≈ $8.08 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check VETO financial resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Rs2.77 Billion |
| % of Total Assets | 78.74% |
| Annual Growth Rate | 21.74% |
| 5-Year Change | 37.63% |
| 10-Year Change | 230.61% |
| Growth Volatility | 28.6 |
Veto Switchgears And Cables Limited - Net Assets Trend (2010–2025)
This chart illustrates how Veto Switchgears And Cables Limited's net assets have evolved over time, based on quarterly financial data. Also explore VETO total assets for the complete picture of this company's asset base.
Annual Net Assets for Veto Switchgears And Cables Limited (2010–2025)
The table below shows the annual net assets of Veto Switchgears And Cables Limited from 2010 to 2025. For live valuation and market cap data, see market value of Veto Switchgears And Cables Limited.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | Rs2.67 Billion ≈ $28.92 Million |
+8.16% |
| 2024-03-31 | Rs2.47 Billion ≈ $26.74 Million |
+5.77% |
| 2023-03-31 | Rs2.34 Billion ≈ $25.28 Million |
+9.59% |
| 2022-03-31 | Rs2.13 Billion ≈ $23.07 Million |
+9.78% |
| 2021-03-31 | Rs1.94 Billion ≈ $21.01 Million |
+9.30% |
| 2020-03-31 | Rs1.78 Billion ≈ $19.22 Million |
+6.25% |
| 2019-03-31 | Rs1.67 Billion ≈ $18.09 Million |
+12.71% |
| 2018-03-31 | Rs1.48 Billion ≈ $16.05 Million |
+47.06% |
| 2017-03-31 | Rs1.01 Billion ≈ $10.92 Million |
+24.79% |
| 2016-03-31 | Rs808.89 Million ≈ $8.75 Million |
+11.34% |
| 2015-03-31 | Rs726.53 Million ≈ $7.86 Million |
+10.86% |
| 2014-03-31 | Rs655.37 Million ≈ $7.09 Million |
+10.24% |
| 2013-03-31 | Rs594.49 Million ≈ $6.43 Million |
+119.31% |
| 2012-03-31 | Rs271.07 Million ≈ $2.93 Million |
+36.66% |
| 2011-03-31 | Rs198.35 Million ≈ $2.15 Million |
+41.89% |
| 2010-03-31 | Rs139.79 Million ≈ $1.51 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Veto Switchgears And Cables Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 2156.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Rs2.02 Billion | 75.93% |
| Common Stock | Rs191.15 Million | 7.17% |
| Other Comprehensive Income | Rs207.84 Million | 7.80% |
| Other Components | Rs242.43 Million | 9.10% |
| Total Equity | Rs2.66 Billion | 100.00% |
Veto Switchgears And Cables Limited Competitors by Market Cap
The table below lists competitors of Veto Switchgears And Cables Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Silver Touch Technologies Limited
NSE:SILVERTUC
|
$22.41 Million |
|
Tontek Design Technology Ltd
TWO:5487
|
$22.44 Million |
|
OneSavings Bank PLC
LSE:OSB
|
$22.44 Million |
|
Seoul Pharma Co. Ltd
KQ:018680
|
$22.44 Million |
|
NeuPath Health Inc
V:NPTH
|
$22.40 Million |
|
Comelf SA
RO:CMF
|
$22.40 Million |
|
M4B SA ZY 8
F:24D
|
$22.38 Million |
|
Barksdale Resources Corp
V:BRO
|
$22.38 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Veto Switchgears And Cables Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,462,530,000 to 2,664,489,000, a change of 201,959,000 (8.2%).
- Net income of 221,320,000 contributed positively to equity growth.
- Dividend payments of 19,116,000 reduced retained earnings.
- Other comprehensive income decreased equity by 245,001.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Rs221.32 Million | +8.31% |
| Dividends Paid | Rs19.12 Million | -0.72% |
| Other Comprehensive Income | Rs-245.00K | -0.01% |
| Other Changes | Rs1.00 | +0.0% |
| Total Change | Rs- | 8.20% |
Book Value vs Market Value Analysis
This analysis compares Veto Switchgears And Cables Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.80x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 3.16x to 0.80x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2010-03-31 | Rs34.29 | Rs108.37 | x |
| 2011-03-31 | Rs36.04 | Rs108.37 | x |
| 2012-03-31 | Rs22.06 | Rs108.37 | x |
| 2013-03-31 | Rs36.10 | Rs108.37 | x |
| 2014-03-31 | Rs35.75 | Rs108.37 | x |
| 2015-03-31 | Rs39.64 | Rs108.37 | x |
| 2016-03-31 | Rs44.14 | Rs108.37 | x |
| 2017-03-31 | Rs53.84 | Rs108.37 | x |
| 2018-03-31 | Rs78.41 | Rs108.37 | x |
| 2019-03-31 | Rs88.05 | Rs108.37 | x |
| 2020-03-31 | Rs93.55 | Rs108.37 | x |
| 2021-03-31 | Rs101.38 | Rs108.37 | x |
| 2022-03-31 | Rs111.24 | Rs108.37 | x |
| 2023-03-31 | Rs121.83 | Rs108.37 | x |
| 2024-03-31 | Rs128.83 | Rs108.37 | x |
| 2025-03-31 | Rs135.19 | Rs108.37 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Veto Switchgears And Cables Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 8.31%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.37%
- • Asset Turnover: 0.90x
- • Equity Multiplier: 1.25x
- Recent ROE (8.31%) is below the historical average (13.66%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2010 | 31.12% | 9.25% | 1.10x | 3.05x | Rs29.50 Million |
| 2011 | 24.54% | 9.15% | 1.16x | 2.32x | Rs28.82 Million |
| 2012 | 26.63% | 10.52% | 1.22x | 2.08x | Rs45.07 Million |
| 2013 | 9.88% | 7.92% | 1.01x | 1.23x | Rs-684.50K |
| 2014 | 9.29% | 6.44% | 0.84x | 1.71x | Rs-4.64 Million |
| 2015 | 9.83% | 7.34% | 0.80x | 1.67x | Rs-1.21 Million |
| 2016 | 16.19% | 7.41% | 1.24x | 1.76x | Rs50.04 Million |
| 2017 | 18.06% | 7.63% | 1.65x | 1.44x | Rs81.36 Million |
| 2018 | 19.52% | 11.45% | 1.25x | 1.36x | Rs141.26 Million |
| 2019 | 6.92% | 5.32% | 0.99x | 1.32x | Rs-51.58 Million |
| 2020 | 5.22% | 6.20% | 0.68x | 1.24x | Rs-84.97 Million |
| 2021 | 7.63% | 8.14% | 0.66x | 1.41x | Rs-45.85 Million |
| 2022 | 9.41% | 7.48% | 0.87x | 1.45x | Rs-12.46 Million |
| 2023 | 8.69% | 6.96% | 0.91x | 1.38x | Rs-30.41 Million |
| 2024 | 7.29% | 5.98% | 0.98x | 1.24x | Rs-66.73 Million |
| 2025 | 8.31% | 7.37% | 0.90x | 1.25x | Rs-45.13 Million |
Industry Comparison
This section compares Veto Switchgears And Cables Limited's net assets metrics with peer companies in the Electrical Equipment & Parts industry.
Industry Context
- Industry: Electrical Equipment & Parts
- Average net assets among peers: $7,679,177,378
- Average return on equity (ROE) among peers: 8.08%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Veto Switchgears And Cables Limited (VETO) | Rs2.77 Billion | 31.12% | 0.27x | $22.40 Million |
| Apar Industries Limited (APARINDS) | $2.88 Billion | -1.23% | 5.59x | $5.36 Billion |
| Amara Raja Batteries Limited (ARE&M) | $13.63 Billion | 26.96% | 0.46x | $1.73 Billion |
| Bharat Bijlee Limited (BBL) | $6.91 Billion | 8.82% | 0.61x | $378.55 Million |
| CG Power and Industrial Solutions Limited (CGPOWER) | $41.11 Billion | -11.94% | 1.48x | $13.85 Billion |
| Cords Cable Industries Limited (CORDSCABLE) | $1.46 Billion | 2.99% | 1.02x | $25.10 Million |
| De Nora India Limited (DENORA) | $392.64 Million | 10.83% | 0.24x | $49.12 Million |
| Dynamic Cables Limited (DYCL) | $270.46 Million | 25.13% | 4.97x | $194.13 Million |
| Elin Electronics Limited (ELIN) | $1.99 Billion | 14.61% | 1.00x | $65.09 Million |
| Eveready Industries India Limited (EVEREADY) | $5.93 Billion | 2.29% | 0.87x | $263.38 Million |
| Exicom Tele-Systems Limited (EXICOM) | $2.22 Billion | 2.32% | 1.72x | $173.57 Million |
About Veto Switchgears And Cables Limited
Veto Switchgears and Cables Limited, together with its subsidiaries, engages in the manufacture and sale of wires and cables, and electrical accessories in India and internationally. It operates through Wire and Cables, Lighting & Fittings, and Accessories & Others segments. The company offers modular switches; LED lightning, including slim LED panel, concealed light, deep light, spotlight, flood… Read more