VERITAS (INDIA) LTD. (VERITAS) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of VERITAS (INDIA) LTD. ₹125, price ₹148, upside -15.7%, quality 36 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range ₹65.03 – ₹1,557 · fair‑value band ₹93.69 – ₹156.16 · the ₹148.15 price screens above the ₹124.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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Veritas (India) Limited imports, exports, trades in, and distributes chemicals, metals, and rubber products in India and internationally. It distributes petrochemicals, polymers, paper and paper boards, and heavy distillates. The company also develops software; manufactures ceramic products, etc.; and generates wind energy.
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Veritas (India) Limited imports, exports, trades in, and distributes chemicals, metals, and rubber products in India and internationally. It distributes petrochemicals, polymers, paper and paper boards, and heavy distillates. The company also develops software; manufactures ceramic products, etc.; and generates wind energy. In addition, it is involved in agricultural activities. The company was formerly known as Duroflex Engineering Limited and changed its name to Veritas (India) Limited in April 2009. Veritas (India) Limited was incorporated in 1985 and is headquartered in Mumbai, India.
Stock analysis
VERITAS (INDIA) LTD. (VERITAS) currently trades at ₹148.15, while our model-based Fair Value estimate is ₹124.93, 15.7% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of ₹715.79 per share, and 7 of the 17 models we run sit above the ₹148.15 price.
Bear case: the Earnings-Based group reads lowest at ₹58.35, and 10 of the 17 models stay below the price. Evidence for this calculation is medium.
Scenario range: ₹93.69 (bear) to ₹156.16 (bull), the price of ₹148.15 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 36/100 (below-average quality), in the Other sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
VERITAS (INDIA) LTD. reported revenue of ₹31.1B in FY2026 versus ₹21.3B in FY2022, a compound +9.9%/yr. Reported net income was ₹197M in FY2026, compounding −34.1%/yr from FY2022.
Key figures
Market cap ₹4.0B (≈ $41.2M) · P/E ratio 24.3 · P/S ratio 0.15 · EPS (TTM) ₹−0.3000 · Dividend yield 0.0% · Net margin 0.6% · Return on equity 0.7% · Return on assets (EBIT) 3.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 56% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Other peers we cover trades at 49% fair-value upside, at −16%, VERITAS screens richer than that median.
Fair Value models
Bear ₹93.69Fair Value ₹124.93Bull ₹156.16
Price ₹148.15 · Upside -15.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−24.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.7%
Start year 2021 (pandemic). Over 10 years: +7.9% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.3%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−29.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−29.0%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−29.0% vs −11.2%, slowing
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.7% → 1%
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Other · 102 stocks
Beats the industry median on 6/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score36 · Bottom 25%
Fair Value upside−15.7% · Below median
Profitability
Return on equity (TTM)0.7% · Above median
Return on assets0.6% · Top 25%
Net margin (TTM)0.0% · Bottom 25%
Operating margin (TTM)1.0% · Above median
Growth and dividend
Revenue growth53.0% · Top 25%
Dividend yield (TTM)0.0% · Below median
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Other median · lower = cheaper
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Is VERITAS (INDIA) LTD. (VERITAS) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of ₹124.93 versus a price of ₹148.15, about −16% upside (overvalued).
What is the fair value of VERITAS?
Our model-based fair value for VERITAS (INDIA) LTD. is ₹124.93 (as of Oct 2, 2026), built from audited fundamentals. The current price: ₹148.15.
What is the quality score of VERITAS?
VERITAS (INDIA) LTD. has a Quality Score of 36/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for VERITAS (INDIA) LTD. (VERITAS)?
Our model-based price target is the fair value of ₹124.93 (as of Oct 2, 2026) from 17 valuation models. Cautious scenario ₹93.69, optimistic scenario ₹156.16. It is a calculation from audited fundamentals, not an analyst target.
What is the VERITAS (INDIA) LTD. stock forecast for 2026?
Our models put fair value at ₹124.93, about −16% upside versus a price of ₹148.15 (overvalued). Cautious scenario ₹93.69, optimistic scenario ₹156.16. The calculation is refreshed regularly with new filings.
What is the revenue of VERITAS (INDIA) LTD. (VERITAS)?
VERITAS (INDIA) LTD. reported trailing-twelve-month revenue of about ₹34.2B (latest available figure, as of Oct 2, 2026).
Does VERITAS (INDIA) LTD. pay a dividend?
VERITAS (INDIA) LTD. currently shows a dividend yield of about 0.03% relative to its recent price (as of Oct 2, 2026).
What is the intrinsic value of VERITAS (INDIA) LTD. (VERITAS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For VERITAS (INDIA) LTD. it is ₹124.93 per share (as of Oct 2, 2026), against a price of ₹148.15. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is VERITAS (INDIA) LTD. stock overvalued or undervalued in 2026?
As of Oct 2, 2026, VERITAS trades above its calculated fair value: price ₹148.15, fair value ₹124.93, a gap of about −16% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of VERITAS?
No. The price is what the market pays today (₹148.15); the fair value is what the company's own numbers justify (₹124.93). For VERITAS (INDIA) LTD. the two are ₹23.22 per share apart. That gap is exactly why we show both numbers side by side.
How much is VERITAS (INDIA) LTD. worth?
The market values VERITAS (INDIA) LTD. at about ₹4.0B (market capitalisation, as of Oct 2, 2026). Per share that is ₹148.15; our models calculate a fair value of ₹124.93 per share.
What do the bullish and bearish scenarios say about VERITAS?
Our models span a range for VERITAS (INDIA) LTD.: cautious scenario ₹93.69, base ₹124.93, optimistic ₹156.16 per share (as of Oct 2, 2026, price ₹148.15). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VERITAS?
VERITAS (INDIA) LTD. trades at a price-to-earnings ratio of 24.3 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹124.93 is built from several models across several years. Other multiples: EV/EBITDA 0.8.
How solid is the balance sheet of VERITAS (INDIA) LTD. (VERITAS)?
Balance-sheet figures for VERITAS (INDIA) LTD. (as of Oct 2, 2026): return on equity 0.7%, debt of 0.02 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is VERITAS from its 52-week high?
VERITAS (INDIA) LTD. trades at ₹148.15, about 56% below its 52-week high of ₹339.75 and 10% above the low of ₹134.85 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹124.93 is for.
Which stocks are comparable to VERITAS (INDIA) LTD.?
From the same area (Other) we also value Navient Corporation, 542772, Newtek Business Services Corp, 532468, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is VERITAS (INDIA) LTD. stock attractive at the current price?
The data as of Oct 2, 2026: price ₹148.15, calculated fair value ₹124.93 (−16%), Quality Score 36/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of VERITAS calculated?
We run VERITAS (INDIA) LTD. through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹124.93, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.0 % above its aggregate fair value. VERITAS (INDIA) LTD. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of VERITAS (INDIA) LTD. (VERITAS)?
The closing price on Oct 1, 2026 was ₹148.15. Our model-based fair value is ₹124.93, about −16% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with VERITAS (INDIA) LTD. right now?
Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of VERITAS (INDIA) LTD.
How large is the market capitalisation of VERITAS (INDIA) LTD. (VERITAS)?
The market capitalisation of VERITAS (INDIA) LTD. is ₹4.0B (≈ $41.2M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of VERITAS (INDIA) LTD. (VERITAS)?
The price-to-sales ratio of VERITAS (INDIA) LTD. is 0.15 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of VERITAS (INDIA) LTD. (VERITAS)?
Earnings per share at VERITAS (INDIA) LTD. are ₹−0.3000 (price ÷ EPS = P/E 24.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of VERITAS (INDIA) LTD. (VERITAS)?
The dividend yield of VERITAS (INDIA) LTD. is 0.0%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of VERITAS (INDIA) LTD. (VERITAS)?
The net margin of VERITAS (INDIA) LTD. is 0.6% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of VERITAS (INDIA) LTD. (VERITAS)?
The return on equity (ROE) of VERITAS (INDIA) LTD. is 0.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of VERITAS (INDIA) LTD. (VERITAS)?
On an EBIT basis the return on assets of VERITAS (INDIA) LTD. is 3.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of VERITAS (INDIA) LTD. (VERITAS)?
The operating margin of VERITAS (INDIA) LTD. is 1.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at VERITAS (INDIA) LTD. (VERITAS)?
Revenue at VERITAS (INDIA) LTD. is growing +53.0% versus a year earlier (3y avg +12.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at VERITAS (INDIA) LTD. (VERITAS)?
Earnings per share at VERITAS (INDIA) LTD. are growing −84.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does VERITAS (INDIA) LTD. (VERITAS) generate?
The free cash flow of VERITAS (INDIA) LTD. is −₹2.3B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does VERITAS (INDIA) LTD. (VERITAS) carry?
The net debt of VERITAS (INDIA) LTD. is ₹4.1B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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