VELJAN
Veljan Denison financials
- Market cap
- ₹850 Cr
Quarterly results
Q1 FY27: revenue up 2.0%, net profit up 4.8% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 37 | 40 | 41 | 43 | 39 +3% | 37 −8% | 46 +11% | 43 +2% |
| EBITDA | 9 | 10 | 9 | 11 | 10 +9% | 8 −15% | 10 +10% | 11 +3% |
| Net profit | 6 | 7 | 6 | 7 | 7 +10% | 5 −23% | 7 +13% | 8 +5% |
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 +51.5% 1Y
1Y: ₹1,247.35 on 10 Sept 2025 → ₹1,890. High ₹1,919.4 (10 Sept 2026), low ₹760.05 (30 Mar 2026).
Financials, as filed
Revenue grew 9.2% a year over 2 years, FY24 to FY26. Operating margin held at 24.1%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹138 Cr | ₹156 Cr | ₹164 Cr |
| Operating profit | ₹33 Cr | ₹37 Cr | ₹40 Cr |
| Operating margin | 24.2% | 23.6% | 24.1% |
| Interest | ₹1 Cr | ₹1 Cr | ₹1 Cr |
| Depreciation | ₹6 Cr | ₹6 Cr | ₹6 Cr |
| Net profit | ₹22 Cr | ₹24 Cr | ₹26 Cr |
| Net margin | 15.9% | 15.2% | 15.7% |
| Cash from operations | ₹15 Cr | ₹19 Cr | ₹32 Cr |
| Free cash flow | ₹5 Cr | ₹9 Cr | ₹25 Cr |
| ROCE | 15.0% | 15.0% | 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 | ₹183 Cr | ₹203 Cr | ₹234 Cr | ₹246 Cr |
| Borrowings | ₹10 Cr | ₹7 Cr | ₹9 Cr | ₹7 Cr | ₹8 Cr | ₹1 Cr |
| Other liabilities | ₹21 Cr | ₹24 Cr | ₹30 Cr | ₹27 Cr | ₹30 Cr | ₹30 Cr |
| Total liabilities | ₹188 Cr | ₹202 Cr | ₹225 Cr | ₹239 Cr | ₹276 Cr | ₹283 Cr |
| Fixed assets | ₹62 Cr | ₹58 Cr | ₹70 Cr | ₹90 Cr | ₹96 Cr | ₹96 Cr |
| Capital work in progress | ₹3 Cr | ₹7 Cr | ₹15 Cr | ₹3 Cr | ₹2 Cr | ₹2 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹123 Cr | ₹137 Cr | ₹139 Cr | ₹147 Cr | ₹178 Cr | ₹184 Cr |
| Total assets | ₹188 Cr | ₹202 Cr | ₹225 Cr | ₹239 Cr | ₹276 Cr | ₹283 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
Ownership split by quarter, oldest first. Sep '23: Promoters 75.0%, Public 25.0%.Dec '23: Promoters 75.0%, Public 25.0%.Mar '24: Promoters 75.0%, Public 25.0%.Jun '24: Promoters 75.0%, Public 25.0%.Sep '24: Promoters 75.0%, DIIs 0.0%, Public 25.0%.Dec '24: Promoters 75.0%, DIIs 0.0%, Public 25.0%.Mar '25: Promoters 75.0%, DIIs 0.0%, Public 25.0%.Jun '25: Promoters 75.0%, DIIs 0.0%, Public 25.0%.Sep '25: Promoters 75.0%, DIIs 0.0%, Public 25.0%.Dec '25: Promoters 75.0%, DIIs 0.0%, Public 25.0%.Mar '26: Promoters 75.0%, DIIs 0.0%, Public 25.0%.Jun '26: Promoters 75.0%, DIIs 0.0%, Public 25.0%.
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 Limited 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
ExpensiveTo justify its price of ₹1890, this stock must grow earnings at 20% every year for 7 years. Our analysis caps realistic growth at ~9%. At that growth it is worth ₹1014 — downside of 46%.
- Growth the price implies
- 20.4% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 8.5% a year
- net profit, FY24–FY26 · EPS 8.5%
- The gap
- 0.1 pp
- -46% downside if it only repeats history
Learn to analyse Veljan Denison Limited
Guides on how to read this kind of business and the numbers that matter.