QUARTER RESULTS JUNE 2025
VETO · price
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Veto Switchgears reported Q1 FY26 (quarter ended June 30, 2025) results with mixed signals. Standalone revenue from operations grew modestly to Rs. 4,324.15 lakhs from Rs. 4,174.35 lakhs (up ~3.6% year-on-year), but net profit declined to Rs. 372.12 lakhs from Rs. 431.48 lakhs (down ~13.8%). On a consolidated basis, revenue rose to Rs. 6,487.04 lakhs from Rs. 6,121.01 lakhs (~6% growth), but net profit fell sharply to Rs. 343.21 lakhs from Rs. 488.01 lakhs (down ~29.7%). Standalone EPS stood at Rs. 1.95 versus Rs. 2.26, while consolidated EPS dropped to Rs. 1.80 from Rs. 2.55. The results have been limited reviewed by statutory auditors SGCO & Co. LLP with an unmodified report. Segment-wise, Wire & Cables and Lighting & Fittings showed softer profit contributions year-on-year.
Despite top-line growth, profit margins compressed significantly with consolidated PAT falling nearly 30%, indicating cost pressure or weaker operating leverage. Shareholders may view this quarter negatively as earnings declined even as revenue grew, which could weigh on short-term sentiment.