AAKASHAYA PATRA EXCLUSIVE STOCK FOR INVESTMENT: 20.09.2020

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               Veto Switchgears and Cables Ltd

CMP46 ENTRY 4

TO 44 STOPLOSS 30 TARGET 90++ TIME: 18 MONTHS

 

Veto Switchgears and Cables Limited is one of the largest and most diversified manufacturer of electrical and telecommunication cables. The Company has been maintaining its leadership in manufacturing of Industrial Wires and Cables since the last 50 years. Its recent foray into LED segment underpins its attempt to emerge as a leading and preferred electric solutions provider from being a mere wires and cables manufacturer

It has an equity base of just Rs.19.12 crore that is supported by reserves of around Rs.158.65 crore. The Promoters hold 54.22%, FIIs hold 4.12% while the investing public holds 41.66% stake in the company. 

In spite of the lockdown, VSCL has reported stable numbers for Q1FY21 with PAT of Rs.2.26 crore on sales of Rs.23.05 crore with an EPS of Rs.1.18. Currently, the stock trades at a P/E of 9x. Its recent high rate was Rs.265.5 which was formed in December 2017. Stock almost corrected 82.5% from recent high.

 


















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