Victory Electric Vehicles International Ltd.
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ABOUT
AI Sector View
AI GENERATEDAutomobile and Auto Components
Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.
PROS
- Company has a good return on equity (ROE) track record: 3 Years ROE 44.9%
- Company has a healthy return on capital (ROCE) of 37.7%
- Operating margins have improved to 15.8% from 4.1%
- Company generates healthy free cash flow
- Company comfortably covers its interest (8.0x coverage)
CONS
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.25x)
- Equity base is being diluted - shares outstanding up 473.6%
- Total debt has risen sharply - up 75.1% year on year
- Working capital days have increased from 67 to 99 days
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJAJ-AUTO | 11684.00 | 27.30 | 321080.80 | 1.28 | 3188.75 | 44.26 | 21688.83 | 71.50 | 28.68 | 20.88 |
| EICHERMOT | 7540.00 | 35.86 | 206989.37 | 1.09 | 1462.51 | 21.35 | 6632.42 | 34.11 | 30.54 | 26.51 |
| TVSMOTOR | 4127.50 | 57.21 | 196092.21 | 0.29 | 1057.61 | 64.52 | 16295.52 | 33.46 | 18.24 | 14.38 |
| HEROMOTOCO | 5225.00 | 19.19 | 104573.78 | 3.54 | 1417.93 | -91.69 | 13126.35 | 34.94 | 35.92 | 12.97 |
| ATHERENERG | 1655.50 | 0.00 | 65657.75 | 0.00 | -510.90 | — | 12169.20 | — | -21.59 | -2.73 |
| OLAELEC | 38.56 | 0.00 | 17847.14 | 0.00 | -336.00 | 21.50 | 455.00 | -45.05 | -20.87 | -36.26 |
| ATULAUTO | 447.05 | 26.26 | 1240.62 | 0.67 | 8.04 | 290.29 | 218.43 | 44.73 | 11.27 | 7.72 |
| URJA | 9.02 | 459.41 | 502.60 | 0.00 | 0.43 | -55.42 | 13.96 | -26.55 | 1.40 | 3.99 |
| WARDINMOBI | 5.74 | 183.30 | 172.67 | 0.00 | 0.17 | -84.77 | 61.64 | 91.02 | 12.48 | 6.17 |
| VICTORYEV | 15.45 | 17.30 | 37.22 | 0.00 | — | — | — | — | 40.94 | — |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
No quarterly results found
We don't have this information yet. Please check back later.
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 47 | 52 | 48 | 51 | |
| 46 | 50 | 41 | 43 | |
| Operating Profit | 1 | 2 | 7 | 8 |
| OPM % | 2.57% | 3.53% | 14.51% | 15.83% |
| 1 | 0 | 0 | 0 | |
| Interest | 1 | 1 | 0 | 1 |
| Depreciation | 0 | 0 | 0 | 0 |
| Profit before Tax | 1 | 1 | 7 | 7 |
| Tax % | 29.29% | 27.87% | 25.62% | 26.24% |
| Net Profit | 1 | 1 | 5 | 5 |
| EPS | 5.66 | 5.76 | 18.74 | 3.30 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 2%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 100%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 45%
- Last Year:
- 42%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Equity Capital | 1 | 2 | 3 | 8 |
| 1 | 2 | 7 | 7 | |
| 9 | 7 | 6 | 10 | |
| Trade Payables | 9 | 6 | 3 | 3 |
| 1 | 2 | 4 | 3 | |
| Total Liabilities | 21 | 19 | 22 | 31 |
| 2 | 1 | 1 | 2 | |
| 7 | 1 | 4 | 5 | |
| 0 | 0 | 10 | 16 | |
| Cash & Bank | 0 | 0 | 0 | 1 |
| 12 | 16 | 6 | 7 | |
| Total Assets | 21 | 19 | 22 | 31 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 3 | 3 | 2 | -2 | |
| Cash from Investing | -1 | -1 | -1 | -1 |
| Cash from Financing | -1 | -2 | -1 | 3 |
| 0 | -0 | 0 | 0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
No announcements filed.
News
Recent coverage and analyst commentary for VICTORYEV
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Victory Electric Vehicles International Ltd.
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