Veljan Denison Ltd.

•

veljan.inBSE: 505232NSE: VELJAN

Market Cap₹ 835 Cr.

Current Price

High / Low₹ 1,980 / 812

Stock P/E33.0

Book Value₹ 551

Price to Book1.42

Dividend Yield0.46 %

ROCE14.9 %

ROE10.9 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

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PROS

Company has delivered good profit growth of 29.5% CAGR over last 5 years
Company is almost debt free
Company has delivered good sales growth of 15.0% CAGR over last 5 years
Company comfortably covers its interest (90.9x coverage)
Company has a consistent dividend-paying track record
Company generates healthy free cash flow

CONS

Valuation is stretched - P/E of 33.0 is well above its own 5-year median (18.5)
Growth is decelerating - 3Y profit CAGR (19.6%) trails the 5Y trend (29.5%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsCompressors / Pumps

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	ELGIEQUIP	618.90	43.79	19613.50	0.44	103.30	20.68	1062.20	22.56	24.39	14.79
2.	INGERRAND	4676.80	55.19	14763.72	1.60	70.46	19.46	379.46	20.34	56.31	23.78
3.	KIRLOSBROS	1849.00	39.32	14682.71	0.38	67.60	0.15	1104.90	12.86	19.79	10.56
4.	KSB	807.10	57.22	14046.71	0.55	57.20	-18.75	690.70	3.60	22.98	12.42
5.	KIRLPNU	724.35	35.80	9411.22	0.83	332.00	31.23	3031.00	7.60	28.95	15.04
6.	DYNAMATECH	11637.15	186.27	7903.30	0.09	20.79	93.04	424.81	14.53	8.88	12.97
7.	SHAKTIPUMP	468.20	27.21	5777.49	0.21	515.90	432.79	8586.70	1279.39	23.76	9.65
8.	WPIL	428.20	24.66	4182.26	0.47	59.01	129.24	500.54	32.21	17.32	17.29
9.	OSWALPUMPS	282.40	9.60	3219.50	0.00	54.14	-42.82	473.56	-7.86	78.75	15.74
10.	YUKEN	1072.20	93.15	1456.48	0.14	5.21	28.60	134.33	28.48	7.59	11.01
11.	ROTO	65.48	44.54	1233.94	0.29	92.46	1368.32	755.96	1047.48	20.48	20.08
12.	VELJAN	1855.00	31.88	834.75	0.46	7.68	4.69	43.48	2.01	14.93	25.76

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	28	31	32	33	34	34	36	38	39	36	33	41	39
	21	24	24	25	26	26	27	29	28	26	25	31	30
Operating Profit	8	7	8	8	7	8	9	9	10	10	8	10	9
OPM %	27.34%	22.00%	24.82%	23.90%	22.04%	24.23%	25.01%	23.15%	26.84%	27.32%	23.15%	23.37%	23.30%
	1	1	1	1	1	1	1	1	1	1	1	1	1
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	1
Profit before Tax	7	6	7	7	7	8	8	8	10	9	7	9	10
Tax %	25.89%	26.03%	25.80%	24.08%	25.89%	25.87%	26.65%	28.96%	26.27%	26.30%	32.31%	27.16%	26.64%
Net Profit	5	4	5	6	5	6	6	6	7	7	5	7	7
	23.02	9.60	11.81	12.33	11.13	12.36	13.59	12.87	15.80	14.76	10.31	14.61	16.58

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	77	96	88	83	74	98	111	124	142	148	149
	54	68	61	61	60	72	87	94	108	111	113
Operating Profit	23	28	26	22	13	26	23	30	33	37	36
OPM %	30.01%	28.95%	29.81%	26.06%	18.29%	26.24%	21.11%	24.44%	23.62%	25.18%	24.25%
	1	1	1	1	1	2	2	3	3	3	3
Interest	2	1	1	1	0	0	1	1	0	0	0
Depreciation	3	3	3	4	5	5	5	5	5	5	6
Profit before Tax	19	25	23	18	9	23	20	27	31	35	35
Tax %	25.21%	34.43%	27.93%	25.83%	23.55%	27.28%	26.22%	25.43%	26.89%	27.66%	27.80%
Net Profit	15	16	16	13	7	17	15	20	22	25	25
EPS	0.00	0.00	0.00	0.00	30.47	75.01	64.81	90.51	49.94	55.48	—
Dividend Payout %	15.50%	13.82%	13.78%	16.75%	32.82%	17.33%	20.06%	18.78%	17.02%	15.32%	—

COMPOUNDED SALES GROWTH

10 Years:: 6%
5 Years:: 15%
3 Years:: 10%

COMPOUNDED PROFIT GROWTH

10 Years:: 7%
5 Years:: 29%
3 Years:: 20%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 10%
5 Years:: 10%
3 Years:: 11%
Last Year:: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	2	2	2	2	2	2	2	2	4	4
	113	126	140	148	155	169	181	198	215	236
	33	21	18	6	10	7	9	7	8	1
Trade Payables	2	2	10	10	10	11	10	9	12	9
	11	14	14	12	12	13	16	15	17	17
Total Liabilities	161	165	184	178	188	202	219	231	257	268
	24	26	43	56	62	58	59	78	82	82
Capital Work in Progress	3	3	6	7	3	7	15	3	2	2
	0	0	0	0	0	0	14	14	14	14
	20	17	26	38	38	45	53	60	70	68
	0	0	0	0	0	0	0	29	33	34
Cash & Bank	40	35	33	23	45	45	38	38	44	59
	74	82	76	55	40	46	40	11	11	9
Total Assets	161	165	184	178	188	202	219	231	257	268

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	25	25	38	24	27	19	21	11	16	28
Cash from Investing	-1	-6	-25	-10	-6	-15	-16	-6	-7	-12
Cash from Financing	6	-15	-7	-18	3	-5	0	-5	-4	-11
	23	-4	-2	-11	23	-8	-0	0	6	5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.98	74.98	74.98	74.98	74.98	74.98	74.98	74.98
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	25.02	25.02	25.02	25.02	25.02	25.02	25.02	25.02

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for VELJAN

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AI Stock Analyst

Veljan Denison Ltd.

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Name

ELGIEQUIP

618.90

43.79

19613.50

0.44

103.30

20.68

1062.20

22.56

24.39

14.79

INGERRAND

4676.80

55.19

14763.72

1.60

70.46

19.46

379.46

20.34

56.31

23.78

KIRLOSBROS

1849.00

39.32

14682.71

0.38

67.60

0.15

1104.90

12.86

19.79

10.56

KSB

807.10

57.22

14046.71

0.55

57.20

-18.75

690.70

3.60

22.98

12.42

KIRLPNU

724.35

35.80

9411.22

0.83

332.00

31.23

3031.00

7.60

28.95

15.04

DYNAMATECH

11637.15

186.27

7903.30

0.09

20.79

93.04

424.81

14.53

8.88

12.97

SHAKTIPUMP

468.20

27.21

5777.49

0.21

515.90

432.79

8586.70

1279.39

23.76

9.65

WPIL

428.20

24.66

4182.26

0.47

59.01

129.24

500.54

32.21

17.32

17.29

OSWALPUMPS

282.40

9.60

3219.50

0.00

54.14

-42.82

473.56

-7.86

78.75

15.74

YUKEN

1072.20

93.15

1456.48

0.14

5.21

28.60

134.33

28.48

7.59

11.01

ROTO

65.48

44.54

1233.94

0.29

92.46

1368.32

755.96

1047.48

20.48

20.08

VELJAN

1855.00

31.88

834.75

0.46

7.68

4.69

43.48

2.01

14.93

25.76

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Operating Profit

OPM %

27.34%

22.00%

24.82%

23.90%

22.04%

24.23%

25.01%

23.15%

26.84%

27.32%

23.15%

23.37%

23.30%

Interest

Depreciation

Profit before Tax

Tax %

25.89%

26.03%

25.80%

24.08%

25.89%

25.87%

26.65%

28.96%

26.27%

26.30%

32.31%

27.16%

26.64%

Net Profit

23.02

9.60

11.81

12.33

11.13

12.36

13.59

12.87

15.80

14.76

10.31

14.61

16.58

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

111

124

142

148

149

108

111

113

Operating Profit

OPM %

30.01%

28.95%

29.81%

26.06%

18.29%

26.24%

21.11%

24.44%

23.62%

25.18%

24.25%

Interest

Depreciation

Profit before Tax

Tax %

25.21%

34.43%

27.93%

25.83%

23.55%

27.28%

26.22%

25.43%

26.89%

27.66%

27.80%

Net Profit

EPS

0.00

30.47

75.01

64.81

90.51

49.94

55.48

—

Dividend Payout %

15.50%

13.82%

13.78%

16.75%

32.82%

17.33%

20.06%

18.78%

17.02%

15.32%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

113

126

140

148

155

169

181

198

215

236

Trade Payables

Total Liabilities

161

165

184

178

188

202

219

231

257

268

Capital Work in Progress

Cash & Bank

Total Assets

161

165

184

178

188

202

219

231

257

268

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Cash from Investing

-1

-6

-25

-10

-6

-15

-16

-6

-7

-12

Cash from Financing

-15

-7

-18

-5

-4

-11

-4

-2

-11

-8

-0

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

74.98

FIIs

0.00

DIIs

0.00

Government

0.00

25.02

Veljan Denison Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Veljan Denison Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI