Veto Switchgears And Cables Limited (VETO) - Net Assets

Latest as of March 2026: Rs2.90 Billion INR ≈ $31.38 Million USD

Based on the latest financial reports, Veto Switchgears And Cables Limited (VETO) has net assets worth Rs2.90 Billion INR (≈ $31.38 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs3.98 Billion ≈ $43.03 Million USD) and total liabilities (Rs1.08 Billion ≈ $11.65 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 goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs2.90 Billion
% of Total Assets	72.92%
Annual Growth Rate	20.87%
5-Year Change	36.01%
10-Year Change	187.43%
Growth Volatility	27.95

Veto Switchgears And Cables Limited - Net Assets Trend (2010–2026)

This chart illustrates how Veto Switchgears And Cables Limited's net assets have evolved over time, based on quarterly financial data. See VETO defensive interval ratio to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Veto Switchgears And Cables Limited (2010–2026)

The table below shows the annual net assets of Veto Switchgears And Cables Limited from 2010 to 2026. For live valuation and market cap data, see market value of Veto Switchgears And Cables Limited.

Year	Net Assets	Change
2026-03-31	Rs2.90 Billion ≈ $31.38 Million	+8.49%
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 decreased by 100.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (March 2026)

Component	Amount	Percentage
Common Stock	Rs191.15 Million	6.60%
Other Components	Rs2.71 Billion	93.40%
Total Equity	Rs2.90 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
JT Corporation KQ:089790	$28.68 Million
Seni Jaya Corporation Bhd KLSE:9431	$28.68 Million
PLS Plantations Bhd KLSE:9695	$28.70 Million
Podium Minerals Ltd AU:POD	$28.71 Million
UMediC Group Berhad KLSE:0256	$28.63 Million
RMG Acquisition Corp. III NASDAQ:RMGCF	$28.63 Million
Moonbae Steel KO:008420	$28.63 Million
SHH Resources Holdings Bhd KLSE:7412	$28.62 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 2025 to 2026, total equity changed from 2,664,489,000 to 2,896,865,000, a change of 232,376,000 (8.7%).
Net income of 251,270,000 contributed positively to equity growth.
Dividend payments of 19,115,000 reduced retained earnings.
Other comprehensive income decreased equity by 207,844,999.
Other factors increased equity by 208,065,999.

Equity Change Factors (2025 to 2026)

Factor	Impact	Contribution
Net Income	Rs251.27 Million	+8.67%
Dividends Paid	Rs19.11 Million	-0.66%
Other Comprehensive Income	Rs-207.84 Million	-7.17%
Other Changes	Rs208.07 Million	+7.18%
Total Change	Rs-	8.72%

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: 0.91x
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 4.04x to 0.91x 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	Rs138.67	x
2011-03-31	Rs36.04	Rs138.67	x
2012-03-31	Rs22.06	Rs138.67	x
2013-03-31	Rs36.10	Rs138.67	x
2014-03-31	Rs35.75	Rs138.67	x
2015-03-31	Rs39.64	Rs138.67	x
2016-03-31	Rs44.14	Rs138.67	x
2017-03-31	Rs53.84	Rs138.67	x
2018-03-31	Rs78.41	Rs138.67	x
2019-03-31	Rs88.05	Rs138.67	x
2020-03-31	Rs93.55	Rs138.67	x
2021-03-31	Rs101.38	Rs138.67	x
2022-03-31	Rs111.24	Rs138.67	x
2023-03-31	Rs121.83	Rs138.67	x
2024-03-31	Rs128.83	Rs138.67	x
2025-03-31	Rs135.19	Rs138.67	x
2026-03-31	Rs151.60	Rs138.67	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): 8.67%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 6.50%
• Asset Turnover: 0.97x
• Equity Multiplier: 1.37x
Recent ROE (8.67%) is below the historical average (13.37%), 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
2026	8.67%	6.50%	0.97x	1.37x	Rs-38.42 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: $11,295,986,261
Average return on equity (ROE) among peers: 7.68%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Veto Switchgears And Cables Limited (VETO)	Rs2.90 Billion	31.12%	0.37x	$28.67 Million
Apar Industries Limited (APARINDS)	$5.24 Billion	13.93%	4.40x	$6.87 Billion
Amara Raja Batteries Limited (ARE&M)	$45.52 Billion	11.26%	0.40x	$1.69 Billion
Bharat Bijlee Limited (BBL)	$9.72 Billion	2.68%	0.52x	$341.18 Million
CG Power and Industrial Solutions Limited (CGPOWER)	$36.27 Billion	10.30%	1.42x	$16.26 Billion
Cords Cable Industries Limited (CORDSCABLE)	$919.43 Million	5.84%	2.04x	$31.10 Million
De Nora India Limited (DENORA)	$251.86 Million	20.04%	0.48x	$47.87 Million
Dynamic Cables Limited (DYCL)	$202.49 Million	12.53%	5.58x	$192.09 Million
Elin Electronics Limited (ELIN)	$4.93 Billion	5.44%	0.49x	$57.09 Million
Eveready Industries India Limited (EVEREADY)	$3.76 Billion	12.72%	2.21x	$281.06 Million
Exicom Tele-Systems Limited (EXICOM)	$6.14 Billion	-17.93%	1.72x	$252.91 Million

About Veto Switchgears And Cables Limited

NSE:VETO India Electrical Equipment & Parts

Market Cap

$28.67 Million

Rs2.65 Billion INR

Market Cap Rank

#23968 Global

#1325 in India

Share Price

Rs138.67

Change (1 day)

+0.67%

52-Week Range

Rs84.40 - Rs148.45

All Time High

Rs248.04