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Victory Electric Vehicles International Ltd (VICTORYEV)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: VICTORYEV Automobile Two & Three Wheelers | Small Cap | Victory Electric Veh Share Price

BSE Share Price
Not Listed

Victory Electric Vehicles International Ltd (VICTORYEV)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: VICTORYEV Automobile Two & Three Wheelers | Small Cap | Victory Electric Veh Share Price

BSE Share Price
Not Listed
Key Metrics
Valuation Multiples
Market Cap
₹41 Cr.
Current Price
₹0
52-Week Low / High
₹0 / 0
TTM EPS
₹2.2
TTM Sales
₹50.9 Cr.
Book Value per Share
₹7.9
P/E Ratio
7.94
In line with its 5-year historical median
Industry PE
30.9
Price to Book (P/B)
2.15
In line with its 5-year historical median
Price to Sales (P/S)
0.81
In line with its 5-year historical median
EV/EBITDA
6.00
In line with its 5-year historical median
Dividend Yield
NAN%
Profitability Efficiency
Return on Equity (ROE)
42.10%
Outperforms industry median
Return on Capital Employed (ROCE)
40.94%
Outperforms industry median
Return on Assets (ROA)
19.48%
Operating Profit Margin
15.8%
Net Profit Margin
10.17%
Gross Profit Margin
14.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
5%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
14.51%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
5.73%
Asset Quality
Promoter Holding
63.33%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹7 Cr.
Equity
₹12 Cr.
Face Value
₹5
All Time Low / High
- / -

Victory Electric Vehicles International stock performance

Key Ratios
mw4me loader

Check Before You Invest

Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is Victory Electric Vehicles International Ltd a good quality company?
Victory Electric Vehicles International Ltd is a quality company, based on a multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

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How does Victory Electric Vehicles International Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Victory Electric Vehicles International Ltd vs industry peers?
Victory Electric Vehicles International Ltd revenue CAGR is 2.37%, compared to the industry median CAGR of 10.13%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Victory Electric Vehicles International Ltd?
Promoters hold 63.33% of the Victory Electric Vehicles International Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Victory Electric Vehicles International Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.
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10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Victory Electric Vehicles International Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ15.9%16.5%55.6%40.9%-
Value Creation
Index ⓘ		0.10.23.01.9-

Growth Parameters ⓘ
Sales ⓘ47.451.948.450.951
Sales YoY Gr.-9.5%-6.7%5%-
Adj EPS ⓘ0.30.63.13.32.2
YoY Gr.-128%442.1%6.8%-
BVPS (₹) ⓘ3.43.56.29.57.9
Adj Net
Profit ⓘ		0.20.74.85.25
Cash Flow from Ops. ⓘ2.52.52.2-2-
Debt/CF from Ops. ⓘ3.12.52.5-4.7-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘNANA2.4%5%
Adj EPS ⓘNANA136.3%6.8%
BVPSⓘNANA41%53.5%
Share Price - - - -

Key Financial Parameters ⓘ

Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		7.42069.542.124.7
Op. Profit
Mgn % ⓘ		2.63.614.515.8NAN
Net Profit
Mgn % ⓘ		0.41.41010.210.2
Debt to
Equity ⓘ		2.81.50.60.6-
Working Cap
Days ⓘ		01281421760
Cash Conv.
Cycle ⓘ		029511030

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25
Sales47.4151.9148.4450.86
Operating Expenses ⓘ + 46.1950.0841.4142.81
Manufacturing Costs0.150.050.070.02
Material Costs43.4046.3337.2237.85
Employee Cost 0.440.981.061.81
Other Costs ⓘ 2.202.713.063.12
Operating Profit ⓘ 1.221.837.038.05
Operating Profit Margin (%) 2.6%3.5%14.5%15.8%
Other Income ⓘ + 0.730.230.320.20
Exceptional Items ⓘ 0000
Interest ⓘ 0.770.640.501
Depreciation ⓘ 0.260.330.280.24
Profit Before Tax ⓘ 0.911.096.587.01
Tax ⓘ 0.270.301.691.84
Profit After Tax 0.650.794.895.17
PAT Margin (%) 1.4%1.5%10.1%10.2%
Adjusted EPS (₹)0.80.63.13.3
Dividend Payout Ratio (%)0%0%0%0%

Valuation of Victory Electric Veh - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 2.784.249.7014.87
Share Capital ⓘ 1.372.042.617.83
Reserves ⓘ 1.412.207.097.04
Debt +7.806.215.309.29
Long Term Debt1.410.3300
Short Term Debt6.395.885.309.29
Minority Interest0000
Trade Payables8.766.082.562.90
Others Liabilities ⓘ 1.482.614.334.16
Total Liabilities ⓘ 20.8119.1421.9031.23

Fixed Assets

Net Fixed Assets ⓘ +1.681.421.151.53
Gross Block2.022.092.102.71
Accumulated Depreciation0.340.670.941.18
CWIP ⓘ 000.180
Investments ⓘ 0000
Inventories6.931.423.655.26
Trade Receivables7.898.5010.2116.17
Cash Equivalents 0.490.030.450.86
Others Assets ⓘ 3.837.786.257.41
Total Assets ⓘ 20.8119.1421.9031.23

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + 2.522.522.15-1.97
PBT ⓘ 0.911.096.587.01
Adjustment ⓘ 1.061.481.031.10
Changes in Working Capital ⓘ 0.730.35-5.28-8.27
Tax Paid ⓘ -0.19-0.40-0.17-1.82
Cash Flow From Investing Activity ⓘ + -0.94-1.43-0.90-0.61
Capex -0.85-0.07-0.19-0.43
Net Investments 0000
Others ⓘ -0.09-1.36-0.71-0.18
Cash Flow From Financing Activity ⓘ + -1.44-1.55-0.832.98
Net Proceeds from Shares ⓘ 0.450.680.570
Net Proceeds from Borrowing ⓘ -1.91-1.07-0.330
Interest Paid ⓘ -0.77-0.64-0.50-1
Dividend Paid ⓘ 0000
Others ⓘ 0.79-0.51-0.573.99
Net Cash Flow ⓘ 0.13-0.460.420.41

Financial Ratio

PARTICULARSMar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)23.2622.4770.1942.1
ROCE (%)15.9316.4755.5940.94
Asset Turnover Ratio2.282.62.361.91
PAT to CFO Conversion(x)3.883.190.44-0.38
Working Capital Days
Receivable Days60.7057.6070.5094.70
Inventory Days53.3029.3019.1032
Payable Days73.7058.5042.4026.30

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Victory Electric Vehicles International Ltd FAQs

The current trading price of Victory Electric Veh on 01-Jan-1970 05:30 is ₹0.00.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 31-Dec-1969 the market cap of Victory Electric Veh stood at ₹41.07 Cr

The latest P/E ratio of Victory Electric Veh as of 31-Dec-1969 is 7.94.

The latest P/B ratio of Victory Electric Veh as of 31-Dec-1969 is 2.15.

The 52-week high of Victory Electric Veh is ₹0.00 and the 52-week low is ₹0.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Victory Electric Veh is ₹50.86 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Victory Electric Vehicles International Ltd is a average quality company.

The key valuation ratios of Victory Electric Vehicles International Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Victory Electric Vehicles International Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Victory Electric Vehicles International Ltd

Victory Electric Vehicles International Limited was incorporated as ‘Victory Electric Vehicles International Private Limited’ on October 26, 2018, as a private limited company, in accordance with the provisions of the Companies Act, 2013, pursuant to a Certificate of Incorporation dated October 26, 2018, issued by the RoC, Central Registration Centre.

The company manufactures electric vehicles ranging from E-rickshaws, E-Cargo/Loader E-Rickshaws, Scooters etc. Its portfolio extends beyond conventional offerings to include customized E-Three Wheelers, catering to specific needs such as Food Three Wheelers and Ice Cream Three Wheelers etc. Its business focuses on capturing the opportunity arising out of electrification of mobility in India and it also seeks opportunities to export its EVs in select international markets in the future.

The company’s products consist of L3 Electric Vehicles, L5 Electric Vehicles and Electric Scooty. L3 electric vehicles are technically classified as electric rickshaws or E-Rickshaws or E-Carts. They have a maximum speed of up to 25 kmph and a motor power of 1200 Watt or less. These are primarily used for passenger transportation over short distances and carrying less load & weight and are widely visible on Indian roads. These E-Rickshaws (L3 category) are operational across India, offering affordable and eco-friendly transport solutions.

L5 electric vehicles are three-wheeled motor vehicles designed to carry people or goods. They have a maximum speed of up to 55 kmph vehicles and a motor power of 3000 Watt or less. Further, Electric scooty is a two-wheeled, motorized vehicle powered by electric motors and rechargeable batteries, providing a sustainable, cost effective and eco-friendly solution to traditional gasoline-powered vehicles. They have maximum speed of 25 kmph.

Business area of the company

The company is engaged in the business of manufacturing of battery-operated electric rickshaw, solar rickshaw, Auto-rickshaws, Motor vehicles, Scooters, Motor-Scooters, three-wheelers, motor cycles, cycles automobiles, motorcars

Products of the company

L3 Electric Vehicles

  • Victory Vikrant (base model)
  • Victory +
  • Victory Bhim
  • Victory Bhim Cleaner +
  • Victory (Customised)

L5 Electric Vehicles

  • Victory King
  • Victory City Star
  • Victory Virat
  • Victory Tejas
  • Victory Jitto

Electric Scooty

  • Victory Ventura
  • V Smart
  • Victory Veero

History and milestones

  • 2018: The company incorporated as a Private Limited Company.
  • 2020: The company converted from private limited to public limited.
  • 2020: The company crossed the revenue of Rs 20 crore in FY 2019-20.
  • 2022: The company increased the manufacturing capacity to 4,800 electric vehicles.
  • 2023: The company Crossed the revenue of Rs 50 crore in FY 2022-23.
  • 2024: The company increased the manufacturing capacity to 6,000 electric vehicles.
  • 2024: The company launched a new variant of electric vehicles L-5, with 5 new models in the portfolio. 

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