Key Metrics of Velocis Systems Private Limited
About Velocis Systems Private Limited
Company details
- Registered office
- 721, 7th Floor, Dlf Prime Tower, F-79 & 80, Okhla Industrial Area Phase-i, South Delhi,, New Delhi, In-dl, 110020
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 22 Sep 2026 | ICRA | Reaffirmed | A- | A2+ | Stable | ₹200 Cr | View |
Credit strengths (ICRA, Sep 2026)
+ Extensive experience of promoters in the IT industry
The company has a successful track record of more than two decades.
+ Strong order book leading to healthy revenue visibility amid diversifying revenue streams
VSPL had a strong order book of around Rs. 950 crore as of August 31, 2026, which provides healthy revenue visibility over the near term.
Credit challenges
− Working capital intensive nature of operations
VSPL's business is working capital intensive in nature, characterised by a moderately high debtor cycle.
− High competitive intensity
The competition remains high in the system integration business, particularly in the segment where VSPL operates.
− Dependence on working capital debt and supplier funding
The working capital intensive nature of VSPL’s operations keeps it dependent on external funding.
Could lead to an upgrade
ICRA could upgrade the ratings if VSPL demonstrates a sustained increase in revenues and profitability, leading to an improvement in credit metrics and
Could lead to a downgrade
ICRA could downgrade the ratings in case of a sustained decline in revenue and profitability, leading to a reduction in cash accruals. The ratings may also be downgraded if weakening of working capital intensity results in a weakened
Agency-reported financials (ICRA, 22 Sep 2026)
| Metric | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Operating income | ₹1,368 Cr | ₹1,401 Cr | ₹1,624 Cr |
| PAT | ₹49.50 Cr | ₹53.40 Cr | ₹57.50 Cr |
| OPBDITA/OI | 4.6% | 4.7% | 4.2% |
| PAT/OI | 3.6% | 3.8% | 3.5% |
| Total outside liabilities/Tangible net worth (times) | 3.30× | 2.90× | 2.30× |
| Total debt/OPBDITA (times) | 3.30× | 3.50× | 3.10× |
| Interest coverage (times) | 10.60× | 7.50× | 7.80× |
| Revenue growth (YoY) | — | 2.4% | 15.9% |
| EBITDA (margin × income) | ₹62.93 Cr | ₹65.87 Cr | ₹68.22 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹208 Cr | ₹231 Cr | ₹211 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹5.94 Cr | ₹8.78 Cr | ₹8.75 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term Fund Based Cash Credit | Working capital & bank lines | ₹100 Cr | ₹100 Cr | 0.0% | A- (Stable) | Reaffirmed | ICRA |
| Short-term Non-Fund Based | Non-fund based limits | ₹100 Cr | ₹100 Cr | 0.0% | A2+ | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 60% |
| Information on file | 56% · missing: Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 58% chance the next rating action is stable or better
- Current rating A- (investment grade)
- Interest coverage 7.8×
- Working-capital limits 53% utilised on average
Rated limits by facility
Timeline
From the report
Improvement in leverage metrics, in line with the earnings growth, remains crucial, going forward. www.icra.in Sensitivity Label : Public Page |2 Liquidity position: Adequate VSPL has adequate liquidity with healthy unencumbered cash and cash equivalents of Rs. 69.7 crore as on May 31, 2026.
From the report
The company had an average working capital utilisation of 53% in the last 13-month period ending in April 2026, providing moderate cushion for liquidity.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.