About
Veritas (India) Limited trades in and distributes polymers, paper and paper boards, rubber products, heavy distillates, and petrochemicals in India and internationally. The company operates through four segments: Trading, Distribution and Development; Manufacturing; Warehousing; and Development of Software. It also trades in and distributes chemicals, petroleum products, and fertilizers; engages in the development of software, including 3D city model, etc. The company serves B2B customers, including manufacturers of paints and thinners, resins, pharmaceutical intermediates, and specialty chemicals. Veritas (India) Limited was formerly known as Duroflex Engineering Limited and changed its name to Veritas (India) Limited in April 2009. The company was incorporated in 1985 and is based in Mumbai, India. Veritas (India) Limited is a subsidiary of Swan Corp Limited.
Key Metrics
as of Sep 2026Market Cap434 Cr
P/E—
Div Yield0.03 %
Book Value₹1,068.00
52w High₹376.00
52w Low₹132.00
Face Value₹1.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 897.52 | 531.74 | 987.83 | 1,006.40 | 586.66 | 784.62 | 1,642.46 | 915.51 | 755.52 | 1,094.54 | 1,323.90 | 940.87 | 495.23 |
| Expenses | 877.44 | 522.65 | 963.00 | 990.77 | 550.80 | 759.81 | 1,592.18 | 867.38 | 691.20 | 1,043.93 | 1,268.82 | 884.01 | 453.12 |
| Operating Profit | 20.08 | 9.09 | 24.83 | 15.63 | 35.86 | 24.81 | 50.28 | 48.13 | 64.32 | 50.61 | 55.08 | 56.86 | 42.11 |
| OPM % | 2.24 | 1.71 | 2.51 | 1.55 | 6.11 | 3.16 | 3.06 | 5.26 | 8.51 | 4.62 | 4.16 | 6.04 | 8.50 |
| Other Income | 0.53 | -0.28 | 0.57 | -0.33 | 2.78 | -10.67 | 3.12 | 13.01 | 0.54 | 0.35 | 56.04 | 0.25 | 0.25 |
| Depreciation | 11.03 | 10.52 | 10.52 | 10.31 | 9.97 | 9.94 | 9.95 | 10.10 | 9.43 | 15.89 | 8.96 | 8.91 | 8.78 |
| Interest | 5.97 | 15.00 | 3.23 | 4.39 | 4.57 | 5.41 | 13.16 | 14.05 | 7.59 | 10.58 | 5.85 | 6.33 | 8.36 |
| Profit before tax | 3.61 | -16.71 | 11.65 | 0.60 | 24.10 | -1.21 | 30.29 | 36.99 | 47.84 | 24.49 | 96.31 | 41.87 | 25.22 |
| Tax % | -1.39 | -4.67 | 6.52 | 0.00 | -0.21 | -9.09 | 1.22 | 0.92 | -0.48 | 0.73 | 0.53 | 0.62 | 0.32 |
| Net Profit | 3.66 | -15.93 | 10.88 | 0.60 | 24.15 | -1.10 | 29.93 | 36.66 | 48.07 | 24.30 | 95.80 | 41.61 | 25.14 |
| EPS in Rs | 1.37 | -5.94 | 4.06 | 0.22 | 9.01 | -0.41 | 11.16 | 13.67 | 17.93 | 9.06 | 35.73 | 15.52 | 9.38 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,113.00 | 4,098.00 | 3,855.00 | 2,163.00 | 2,131.00 | 1,876.00 | 2,037.00 | 1,876.00 | 1,679.00 | 1,648.00 | 1,456.00 | 1,503.00 |
| Expenses | 3,027.00 | 3,911.00 | 3,651.00 | 2,021.00 | 1,975.00 | 1,714.00 | 1,899.00 | 1,765.00 | 1,601.00 | 1,567.00 | 1,388.00 | 1,446.00 |
| Operating Profit | 85.00 | 188.00 | 204.00 | 142.00 | 157.00 | 163.00 | 138.00 | 110.00 | 78.00 | 82.00 | 68.00 | 57.00 |
| OPM % | 2.70 | 4.60 | 5.00 | 7.00 | 7.00 | 9.00 | 7.00 | 6.00 | 4.70 | 5.00 | 4.70 | 3.80 |
| Other Income | 3.00 | 6.00 | 58.00 | 5.00 | 0.00 | 4.00 | 49.00 | 12.00 | 1.00 | 2.00 | 0.00 | 0.00 |
| Interest | 27.00 | 40.00 | 31.00 | 17.00 | 19.00 | 24.00 | 35.00 | 51.00 | 7.00 | 9.00 | 6.00 | 6.00 |
| Depreciation | 41.00 | 39.00 | 43.00 | 34.00 | 32.00 | 32.00 | 30.00 | 25.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Profit before tax | 20.00 | 114.00 | 188.00 | 96.00 | 106.00 | 111.00 | 122.00 | 46.00 | 71.00 | 73.00 | 61.00 | 50.00 |
| Tax % | 0.00 | 0.00 | 1.00 | 1.00 | 1.00 | 1.00 | 0.00 | 6.00 | 5.00 | 2.00 | 2.00 | 4.00 |
| Net Profit | 20.00 | 114.00 | 187.00 | 95.00 | 105.00 | 109.00 | 122.00 | 44.00 | 68.00 | 71.00 | 60.00 | 48.00 |
| EPS in Rs | 7.35 | 42.36 | 69.69 | 35.36 | 39.05 | 40.82 | 45.61 | 16.23 | 25.27 | 26.67 | 22.47 | 19.85 |
| Dividend Payout % | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 2.00 |
| Reserves | 2,862.00 | 2,663.00 | 2,507.00 | 2,301.00 | 2,108.00 | 1,971.00 | 1,886.00 | 1,694.00 | 1,244.00 | 1,177.00 | 1,113.00 | 1,021.00 |
| Borrowings | 438.00 | 198.00 | 327.00 | 232.00 | 268.00 | 389.00 | 487.00 | 495.00 | 969.00 | 644.00 | 409.00 | 209.00 |
| Other Liabilities | 1,413.00 | 973.00 | 1,346.00 | 1,586.00 | 1,623.00 | 923.00 | 919.00 | 786.00 | 720.00 | 383.00 | 270.00 | 193.00 |
| Total Liabilities | 4,716.00 | 3,837.00 | 4,183.00 | 4,121.00 | 4,001.00 | 3,286.00 | 3,295.00 | 2,978.00 | 2,936.00 | 2,207.00 | 1,794.00 | 1,426.00 |
| Fixed Assets | 2,114.00 | 2,033.00 | 2,052.00 | 2,053.00 | 1,984.00 | 1,982.00 | 2,038.00 | 1,896.00 | 858.00 | 858.00 | 857.00 | 856.00 |
| CWIP | 349.00 | 349.00 | 349.00 | 344.00 | 342.00 | 339.00 | 334.00 | 331.00 | 1,316.00 | 730.00 | 386.00 | 84.00 |
| Investments | 1.00 | 2.00 | 10.00 | 9.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Other Assets | 2,251.00 | 1,454.00 | 1,772.00 | 1,715.00 | 1,674.00 | 964.00 | 922.00 | 751.00 | 761.00 | 618.00 | 550.00 | 485.00 |
| Total Assets | 4,716.00 | 3,837.00 | 4,183.00 | 4,121.00 | 4,001.00 | 3,286.00 | 3,295.00 | 2,978.00 | 2,936.00 | 2,207.00 | 1,794.00 | 1,426.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -233.00 | 41.00 | 56.00 | 81.00 | 121.00 | 144.00 | 145.00 | 225.00 | 279.00 | 80.00 | 156.00 | -25.00 |
| Cash from Investing Activity | -1.00 | 19.00 | -32.00 | -3.00 | 27.00 | -10.00 | -71.00 | -77.00 | -587.00 | -346.00 | -303.00 | -85.00 |
| Cash from Financing Activity | 210.00 | -39.00 | -13.00 | -76.00 | -148.00 | -130.00 | -87.00 | -133.00 | 317.00 | 228.00 | 219.00 | 113.00 |
| Net Cash Flow | -23.00 | 21.00 | 11.00 | 1.00 | 0.00 | 4.00 | -12.00 | 15.00 | 9.00 | -38.00 | 72.00 | 3.00 |
| Free Cash Flow | -233.00 | 53.00 | 25.00 | 84.00 | 119.00 | 134.00 | 57.00 | 148.00 | -309.00 | -266.00 | -147.00 | -25.00 |
| CFO/OP % | -271.00 | 23.00 | 28.00 | 58.00 | 78.00 | 89.00 | 107.00 | 208.00 | 359.00 | 101.00 | 233.00 | -42.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 246.00 | 114.00 | 157.00 | 278.00 | 269.00 | 178.00 | 155.00 | 105.00 | 145.00 | 113.00 | 105.00 | 84.00 |
| Inventory Days | 5.00 | 4.00 | 4.00 | 8.00 | 15.00 | 0.00 | 0.00 | 25.00 | 3.00 | 8.00 | 0.00 | 6.00 |
| Days Payable | 141.00 | 66.00 | 15.00 | 156.00 | 197.00 | 70.00 | 103.00 | 84.00 | 58.00 | 31.00 | 27.00 | 46.00 |
| Cash Conversion Cycle | 110.00 | 53.00 | 146.00 | 130.00 | 88.00 | 108.00 | 52.00 | 46.00 | 90.00 | 90.00 | 78.00 | 44.00 |
| Working Capital Days | 77.00 | 42.00 | 123.00 | 100.00 | 70.00 | 82.00 | 39.00 | 17.00 | -26.00 | 61.00 | 52.00 | 35.00 |
| ROCE % | 2.00 | 5.00 | 8.00 | 5.00 | 5.00 | 6.00 | 7.00 | 4.00 | 4.00 | 5.00 | 5.00 | 7.00 |
Corporate Actions
15 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 19 Sep 2025 | 19 Sep 2025 | — | 0.05 | |
| Dividend | 17 Sep 2024 | 17 Sep 2024 | — | 0.05 | |
| Dividend | 15 Sep 2023 | — | — | 0.05 | |
| Dividend | 22 Sep 2022 | — | — | 0.05 | |
| Dividend | 22 Sep 2021 | 23 Sep 2021 | — | 0.05 | |
| Dividend | 22 Sep 2020 | — | — | 0.05 | |
| Dividend | 19 Sep 2019 | — | — | 0.05 | |
| Dividend | 19 Sep 2018 | — | — | 0.05 | |
| Dividend | 14 Sep 2017 | — | — | 0.05 | |
| Dividend | 22 Sep 2016 | — | — | 0.05 | |
| Dividend | 21 Sep 2015 | — | — | 0.05 | |
| Dividend | 17 Sep 2014 | — | — | 0.05 | |
| Dividend | 18 Sep 2013 | — | — | 0.05 | |
| Dividend | 16 Sep 2011 | — | — | 0.05 | |
| Split | 28 Jun 2010 | 29 Jun 2010 | 10:1 | — |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
-
Rating update23 Oct 2024 from crisil
-
Rating update27 Jul 2023 from crisil
-
Rating update2 May 2023 from crisil
-
Rating update1 Feb 2023 from crisil
-
Rating update16 Nov 2022 from crisil
-
Rating update31 May 2022 from crisil