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Victory Electric Vehicles International (VICTORYEV)₹13.000.00%2/3 Wheelers
In the Mar 2026 quarter (standalone), Victory Electric Vehicles International reported sales of ₹15.21 Cr, down 52.7% from Mar 2025, and net profit of ₹0.52 Cr, down 87.1% year on year. For the year to Mar 2026, sales were ₹31.95 Cr and net profit ₹2.14 Cr.
Company filings, standalone accounts; latest reported quarter Mar 2026
| Mar 2025 | Mar 2026 | |
|---|---|---|
| Sales | 32.14 | 15.21 |
| Expenses | 26.14 | 14.04 |
| Operating Profit | 6.10 | 1.21 |
| OPM % | 18.9% | 7.9% |
| Other Income | 0.14 | 0.19 |
| Interest | 0.63 | 0.49 |
| Depreciation | 0.12 | 0.14 |
| Profit before tax | 5.48 | 0.74 |
| Tax % | 26.2% | 29.3% |
| Net Profit | 4.04 | 0.52 |
| EPS (Rs) | 2.60 | 0.23 |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales | 46.80 | 51.26 | 47.81 | 50.54 | 31.95 |
| Expenses | 45.76 | 49.55 | 40.93 | 42.66 | 28.22 |
| Operating Profit | 1.20 | 1.82 | 7.02 | 8.04 | 3.84 |
| OPM % | 2.6% | 3.5% | 14.6% | 15.8% | 11.9% |
| Other Income | 0.74 | 0.24 | 0.33 | 0.21 | 0.29 |
| Interest | 0.76 | 0.63 | 0.49 | 0.99 | 0.91 |
| Depreciation | 0.25 | 0.32 | 0.27 | 0.25 | 0.28 |
| Profit before tax | 0.90 | 1.08 | 6.56 | 7.00 | 2.91 |
| Tax % | 29.7% | 27.5% | 25.6% | 26.3% | 26.4% |
| Net Profit | 0.64 | 0.78 | 4.87 | 5.15 | 2.14 |
| EPS (Rs) | 4.75 | 3.86 | 18.75 | 3.31 | 0.90 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 1.38 | 2.05 | 2.62 | 7.85 | 12.06 |
| Reserves | 1.42 | 2.21 | 7.08 | 7.03 | 34.92 |
| Borrowings | 7.79 | 6.20 | 5.29 | 9.28 | 1.83 |
| Other Liabilities | 10.19 | 8.69 | 6.93 | 7.09 | 5.72 |
| Total Liabilities | 20.78 | 19.15 | 21.92 | 31.25 | 54.53 |
| Fixed Assets | 1.69 | 1.43 | 1.16 | 1.54 | 1.97 |
| CWIP | 0.00 | 0.00 | 0.17 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 19.09 | 17.72 | 20.59 | 29.71 | 52.56 |
| Inventories | 6.94 | 1.41 | 3.66 | 5.25 | 9.57 |
| Trade receivables | 7.86 | 8.46 | 10.18 | 16.12 | 17.65 |
| Cash & equivalents | 0.48 | 0.04 | 0.46 | 0.87 | 10.31 |
| Total Assets | 20.78 | 19.15 | 21.92 | 31.25 | 54.53 |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from operating activity | 2.51 | 2.53 | 2.14 | −1.98 | −13.61 |
| Cash from investing activity | −0.95 | −1.44 | −0.91 | −0.62 | 0.57 |
| Cash from financing activity | −1.43 | −1.54 | −0.82 | 2.97 | 22.47 |
| Net cash flow | 0.12 | −0.45 | 0.41 | 0.40 | 9.42 |
| Capex | 0.84 | 0.06 | 0.18 | 0.42 | 0.05 |
| Free cash flow | 1.66 | 2.44 | 1.95 | −2.39 | −13.51 |
| CFO / OP % | 224.0% | 159.9% | 33.0% | −2.0% | −305.0% |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor days | 61 | 60 | 78 | 116 | 202 |
| Inventory days | 57 | 10 | 35 | 50 | 142 |
| Days payable | 73 | 47 | 24 | 27 | 53 |
| Cash conversion cycle | 45 | 23 | 87 | 138 | 289 |
| Working capital days | 16 | 21 | 63 | 92 | 390 |
| ROCE % | — | 16.5% | 55.6% | 40.9% | 10.5% |
For the Mar 2026 quarter, Victory Electric Vehicles International reported sales of ₹15.21 Cr, down 52.7% year on year and net profit of ₹0.52 Cr, down 87.1% year on year. The operating margin was 7.9%.
Victory Electric Vehicles International's sales for the year to Mar 2026 were ₹31.95 Cr.
Net profit for the year to Mar 2026 was ₹2.14 Cr. Earnings per share over the same trailing period were ₹0.90.
Victory Electric Vehicles International reported borrowings of ₹1.83 Cr at Mar 2026, against cash and equivalents of ₹10.31 Cr.
Cash from operations was −₹13.61 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹13.51 Cr.