Veljan Denison financials

Hyderabad-based manufacturer of hydraulic engineering products, making critical hydraulic components at its Patancheru (Telangana) factory.

Market cap: ₹850 Cr
Sector: Automobile and Auto Components

What Veljan Denison does

Veljan Denison Limited manufactures hydraulic engineering products, with production based at its factory in Patancheru, Telangana. It formerly operated under a technical collaboration with foreign partners based in France and the USA who supplied certain critical components, an arrangement that ended after a dispute with the foreign parent. Those critical, highly customised components are now indigenously developed and supplied exclusively to the company by related entities, Suxus Systems Limited and ECMAT Limited. Group company Veljan Hydrair Limited purchases the company's products and distributes them across India through its own marketing and warehousing network.

Segments

Hydraulic engineering products

Manufacturing facility: 1 factory (Patancheru, Telangana)
Domestic distribution: via related company Veljan Hydrair Limited's multi-location warehouse network
Exclusive critical-component suppliers: 2 (Suxus Systems Limited, ECMAT Limited)

Founded 1973Headquarters Hyderabad, Telangana Company website

Quarterly results

Q1 FY27: revenue up 1.4%, net profit up 4.9% against the same quarter last year.

₹ Cr · quarterly

Line item	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26	Q1 FY27
Revenue	34	36	38	39	36 +5%	33 −10%	41 +9%	39 +1%
Expenses	26	27	29	28	26	25	31	28
EBITDA	8	9	9	10	10 +19%	8 −16%	10 +10%	11 +3%
Margin	24%	25%	23%	27%	27%	23%	23%	27%
Other income	1	1	1	1	1	1	1	1
Interest	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1
Profit before tax	8	8	8	10	9 +20%	7 −18%	9 +11%	10 +6%
Tax rate	26%	27%	29%	26%	26%	32%	27%	27%
Net profit	6	6	6	7	7 +19%	5 −24%	7 +13%	7 +5%
EPS	12.36	13.58	12.87	15.80	14.76	10.31	14.60	16.58

How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +50.8% 1Y

1Y: ₹1,247.35 on 10 Sept 2025 → ₹1,881. High ₹1,945 (10 Sept 2026), low ₹760.05 (30 Mar 2026).

Financials, as filed

Revenue grew 10.2% a year over 3 years, FY23 to FY26. Operating margin widened to 25.2%.

Year ending	FY23	FY24	FY25	FY26
Revenue	₹111 Cr	₹124 Cr	₹142 Cr	₹148 Cr
Operating profit	₹23 Cr	₹30 Cr	₹33 Cr	₹37 Cr
Operating margin	21.1%	24.4%	23.6%	25.2%
Interest	₹1 Cr	₹1 Cr	₹0 Cr	₹0 Cr
Depreciation	₹5 Cr	₹5 Cr	₹5 Cr	₹5 Cr
Net profit	₹15 Cr	₹20 Cr	₹22 Cr	₹25 Cr
Net margin	13.2%	16.4%	15.9%	16.9%
Cash from operations	₹16 Cr	₹11 Cr	₹16 Cr	₹28 Cr
Free cash flow	₹4 Cr	₹2 Cr	₹8 Cr	₹23 Cr
ROCE	11.0%	14.0%	14.0%	15.0%

How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year ending	FY21	FY22	FY23	FY24	FY25	FY26
Equity capital	₹2 Cr	₹2 Cr	₹2 Cr	₹2 Cr	₹4 Cr	₹4 Cr
Reserves	₹155 Cr	₹169 Cr	₹181 Cr	₹198 Cr	₹225 Cr	₹236 Cr
Borrowings	₹10 Cr	₹7 Cr	₹9 Cr	₹7 Cr	₹8 Cr	₹1 Cr
Other liabilities	₹21 Cr	₹24 Cr	₹26 Cr	₹24 Cr	₹26 Cr	₹26 Cr
Total liabilities	₹188 Cr	₹202 Cr	₹219 Cr	₹231 Cr	₹263 Cr	₹268 Cr
Fixed assets	₹62 Cr	₹58 Cr	₹59 Cr	₹78 Cr	₹82 Cr	₹82 Cr
Capital work in progress	₹3 Cr	₹7 Cr	₹15 Cr	₹3 Cr	₹2 Cr	₹2 Cr
Investments	₹0 Cr	₹0 Cr	₹14 Cr	₹14 Cr	₹14 Cr	₹14 Cr
Other assets	₹123 Cr	₹137 Cr	₹131 Cr	₹137 Cr	₹165 Cr	₹169 Cr
Total assets	₹188 Cr	₹202 Cr	₹219 Cr	₹231 Cr	₹263 Cr	₹268 Cr

How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

The ownership split has held steady since Jun 2025. The shareholder count shrank 8% to 4,383.

Promoters: 75.0%
DIIs: 0.0%
Public: 25.0%

Since Jun 2025

Public +0.01 pp
Promoters 0.00 pp
DIIs 0.00 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

Sri Krishna Uppaluri +1.20 pp 5.64% held
Sharad Kanyalal Shah Sharad Varsha Kanyalal Dipak Kanyalal Shah newly disclosed 1.02% held

The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Veljan Denison above SEBI's 1% disclosure line, and what changed since Mar 2026.

Holder	Stake	Change
Sree Chukkamamba Velamati	19.64%	unchanged
Gangadhar Srinivas Velamati	17.15%	unchanged
Investors Education And Protection Fund	10.95%	unchanged
Veljan Investments Limited	10.84%	unchanged
Veljan Hydrair Limited	7.55%	unchanged
Sri Krishna Uppaluri	5.64%	+1.20 pp
Uma Devi Uppaluri	4.93%	unchanged
Sarojini Devi Velamati	4.44%	−1.20 pp
Lalitha Sanjay Jayavarthanavelu	4.36%	unchanged
Sharad Kanyalal Shah Sharad Varsha Kanyalal Dipak Kanyalal Shah	1.02%	newly disclosed
Suxus Systems Limited	0.29%	unchanged
Jdm Hydropenumatics Limited	0.15%	unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Fair

To justify its price of ₹1881, this stock must grow earnings at 21% every year for 7 years. Our analysis caps realistic growth at ~20%. At that growth it is worth ₹1758 — downside of 7%.

Growth the price implies: 21.0% a year; for 7 years, fading to 4%
It has actually compounded at: 19.6% a year; net profit, FY23–FY26 · EPS 19.6%
The gap: 0.0 pp; -7% downside if it only repeats history

Price today ₹1,881 Value at the reference growth ₹1,757.68

Change the assumptions yourself →

Learn to analyse Veljan Denison

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