Stock VERITAS6 VERITAS (INDIA) LIMITED
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Financials Veritas (India) Limited

Equities

VERITAS6

INE379J01029

Diversified Industrial Goods Wholesale

Market Closed - Bombay S.E.
Other stock markets
 06:00:53 2024-04-26 am EDT 		5-day change 1st Jan Change
1,528 INR +2.00% Intraday chart for Veritas (India) Limited +10.40% +184.73%
Mar. 22 Veritas Limited Announces the Resignation of Pratik Hasabnis as Company Secretary and Compliance Officer CI
Mar. 21 Veritas Limited Appoints Paresh V. Merchant as Managing Director CI

Valuation

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Capitalization 1 4,618 1,436 722.5 1,842 3,110 3,792
Enterprise Value (EV) 1 13,733 5,675 5,062 6,220 6,271 6,604
P/E ratio 6.76 x 3.29 x 0.59 x 1.68 x 2.97 x 4 x
Yield 0.03% 0.09% 0.19% 0.07% 0.04% 0.04%
Capitalization / Revenue 0.27 x 0.08 x 0.04 x 0.1 x 0.15 x 0.18 x
EV / Revenue 0.82 x 0.3 x 0.25 x 0.33 x 0.29 x 0.31 x
EV / EBITDA 17.4 x 5.14 x 3.6 x 3.9 x 4.09 x 4.51 x
EV / FCF -2.73 x -0.68 x -3.3 x -3.9 x 5.28 x -4.41 x
FCF Yield -36.7% -147% -30.3% -25.7% 19% -22.7%
Price to Book 0.37 x 0.08 x 0.04 x 0.09 x 0.15 x 0.16 x
Nbr of stocks (in thousands) 26,810 26,810 26,810 26,810 26,810 26,810
Reference price 2 172.2 53.55 26.95 68.70 116.0 141.4
Announcement Date 9/6/18 9/3/19 9/7/20 9/8/21 9/8/22 8/29/23
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net sales 1 16,793 18,757 20,368 18,763 21,315 21,632
EBITDA 1 789 1,104 1,405 1,595 1,532 1,466
EBIT 1 782.4 854.9 1,134 1,310 1,246 1,156
Operating Margin 4.66% 4.56% 5.57% 6.98% 5.84% 5.34%
Earnings before Tax (EBT) 1 717.6 464.5 1,224 1,109 1,058 955.2
Net income 1 683.3 436.4 1,223 1,094 1,047 948.1
Net margin 4.07% 2.33% 6% 5.83% 4.91% 4.38%
EPS 2 25.49 16.28 45.61 40.82 39.05 35.36
Free Cash Flow 1 -5,037 -8,316 -1,536 -1,597 1,188 -1,496
FCF margin -30% -44.33% -7.54% -8.51% 5.58% -6.92%
FCF Conversion (EBITDA) - - - - 77.55% -
FCF Conversion (Net income) - - - - 113.51% -
Dividend per Share 2 0.0500 0.0500 0.0500 0.0500 0.0500 0.0500
Announcement Date 9/6/18 9/3/19 9/7/20 9/8/21 9/8/22 8/29/23
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net Debt 1 9,115 4,240 4,340 4,378 3,161 2,812
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 11.55 x 3.841 x 3.089 x 2.746 x 2.063 x 1.919 x
Free Cash Flow 1 -5,037 -8,316 -1,536 -1,597 1,188 -1,496
ROE (net income / shareholders' equity) 5.64% 2.96% 6.82% 5.67% 5.13% 4.3%
ROA (Net income/ Total Assets) 1.91% 1.81% 2.26% 2.49% 2.14% 1.78%
Assets 1 35,865 24,151 54,140 43,995 49,004 53,286
Book Value Per Share 2 465.0 633.0 705.0 736.0 787.0 859.0
Cash Flow per Share 2 21.30 26.90 15.70 2.370 2.360 2.860
Capex 1 5,872 10,625 906 101 21.7 21.1
Capex / Sales 34.97% 56.64% 4.45% 0.54% 0.1% 0.1%
Announcement Date 9/6/18 9/3/19 9/7/20 9/8/21 9/8/22 8/29/23
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Diversified Industrial Goods Wholesale

1st Jan change Capi.
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Diversified Industrial Goods Wholesale
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