V-Guard Industries Ltd logo

V-Guard Industries Ltd

VGUARD NSE

Founded in 1977, V-Guard Industries Ltd. (‘V-Guard’) is a reputed Indian company manufacturing innovative and experiential products in the categories of Electronics, Electricals and Consumer Durables. It has grown from being a brand synonymous with voltage stabilizers across South India, to a brand offering a wide array of thoughtfully engineered products to consumers across the length and breadth of the country. Underpinned by its continuous quest to enrich consumer lives and power a stronger tomorrow. [1]

AI Verdict: HOLD Confidence: 5%

V-Guard Industries trades at a PE of 44x with modest 13% ROE and 7% TTM profit growth, which appears expensive for the growth delivered. However, the debt-free balance sheet, 88% analyst buy consensus, and consistent 12% 10-year sales CAGR support long-term structural positioning in India's consumer electricals space.

Key Fundamentals

MicrocapHousehold AppliancesConsumer Goods
Market Cap
₹13,583 Cr
Volatility
Moderate
P/E Ratio
51.55
EBITDA
₹505 Cr
Return on Equity
14.2%
Debt to Equity
0.14
Book Value
₹54.32
EPS
₹6.72
52W High
₹409.75
52W Low
₹290

Technical Indicators

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 25.4%

Weaknesses

1
  • Company has a low return on equity of 13.4% over last 3 years.

Growth Rate

Revenue Growth
6.56% ↘
Net Income Growth
-3.71% ↘
Cash Flow Change
21.44% ↗
ROE
5.28% ↘
ROCE
7.67% ↘
EBITDA Margin (Avg.)
-11.64% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 1d ago
HOLD
Risk medium

V-Guard Industries trades at a PE of 44x with modest 13% ROE and 7% TTM profit growth, which appears expensive for the growth delivered. However, the debt-free balance sheet, 88% analyst buy consensus, and consistent 12% 10-year sales CAGR support long-term structural positioning in India's consumer electricals space.

Bull Case 8
  • Company is almost debt-free, providing significant financial flexibility and resilience during economic downturns
  • 88.24% of analysts (15 out of 17) have a buy rating, reflecting strong institutional conviction in the business model
  • Compounded sales growth of 16% over 5 years demonstrates consistent revenue scaling capability
  • 10-year stock CAGR of 12% shows sustained long-term wealth creation for investors
  • Compounded profit growth of 15% over 3 years indicates improving operational efficiency and margin expansion
  • Healthy dividend payout ratio of 25.4% with 0.48% yield provides consistent shareholder returns
  • 10-year compounded sales growth of 12% reflects durable demand tailwinds in India's consumer electricals market
  • Zero sell ratings from 17 analysts suggests limited downside risk perception among professional coverage
Bear Case 8
  • PE ratio of 44x is significantly elevated versus the sector median, pricing in growth that may not materialize at current 7% TTM profit growth
  • 1-year stock CAGR of -17% indicates significant recent price destruction and negative momentum
  • ROE of only 13% over 3 years is below the 15% threshold typically expected for quality compounders at premium valuations
  • TTM revenue growth has decelerated sharply to 7% from the 5-year CAGR of 16%, signaling a meaningful slowdown
  • Price-to-book ratio of 5.72x is expensive for a business generating only 13% return on equity, implying poor capital efficiency relative to valuation
  • 5-year stock CAGR of only 3% means investors have earned virtually no returns over a half-decade holding period
  • TTM profit growth of 7% does not justify the 44x earnings multiple, creating a PEG ratio above 6x
  • 5-year compounded profit growth of only 7% lags the sales growth of 16%, suggesting margin pressure or rising costs

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Neutral 2
  • Analyst meet scheduled Jun 18 Jun 12

    V-Guard Industries will attend a virtual analyst meet on June 18, 2026 as part of Ashika Institutional Equities' C-Suite Executive Day.

  • No promoter share pledge in FY26 Jun 3

    V-Guard disclosed that promoters and promoter group members held zero encumbrance on their shares throughout FY26, filed with BSE and NSE.

TL;DR: Limited news flow for V-Guard in recent weeks with no material positive or negative catalysts. Promoter holding remains unencumbered, signaling confidence and financial stability at the promoter level. The upcoming analyst meet on June 18 could provide forward guidance. Overall trend is steady with no visible deterioration or acceleration.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
1,081
1,148
1,072
1,078
1,262
1,415
1,229
1,185
1,480
1,406
1,272
1,326
1,687
Expenses
994
1,059
992
993
1,162
1,287
1,138
1,102
1,359
1,313
1,187
1,230
1,544
Operating Profit
86
88
80
85
100
128
91
83
121
94
85
96
143
OPM %
8%
8%
7%
8%
8%
9%
7%
7%
8%
7%
7%
7%
8%
Other Income
2
11
14
2
25
7
4
5
3
5
19
-16
7
Interest
10
11
9
9
9
8
7
5
1
3
1
2
1
Depreciation
16
17
16
17
17
17
17
20
20
20
21
20
21
PBT
62
72
68
62
99
110
71
64
102
76
83
58
128
Tax %
25%
26%
24%
24%
20%
26%
27%
25%
24%
26%
20%
27%
25%
Net Profit
46
53
52
47
79
82
52
48
78
56
66
42
95
EPS in Rs
1.07
1.23
1.2
1.07
1.82
1.88
1.2
1.1
1.79
1.28
1.51
0.97
2.18
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
1,731
1,845
2,086
2,312
2,566
2,482
2,699
3,477
4,051
4,559
5,309
5,692
Expenses
1,598
1,667
1,876
2,124
2,347
2,228
2,392
3,142
3,750
4,205
4,886
5,274
Operating Profit
133
178
210
188
220
254
307
335
301
354
422
418
OPM %
8%
10%
10%
8%
9%
10%
11%
10%
7%
8%
8%
7%
Other Income
4
7
12
10
18
23
21
10
15
51
19
15
Interest
21
9
2
2
1
4
6
8
16
37
20
7
Depreciation
15
15
16
19
22
28
37
48
58
67
74
82
PBT
101
161
204
177
215
245
285
290
241
301
348
344
Tax %
30%
31%
29%
25%
23%
25%
30%
22%
26%
23%
25%
25%
Net Profit
71
112
145
133
166
185
199
227
179
231
260
259
EPS in Rs
1.68
2.65
3.41
3.13
3.88
4.32
4.63
5.26
4.15
5.32
5.97
5.94
Div. Payout %
19%
19%
21%
22%
21%
21%
26%
25%
31%
26%
25%
25%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
30
30
42
43
43
43
43
43
43
43
44
44
Reserves
348
441
592
709
857
951
1,165
1,359
1,545
1,725
1,955
2,181
Borrowings
68
10
6
2
10
10
66
66
501
356
77
64
Other Liabilities
279
235
294
401
447
437
586
613
626
762
964
1,001
Total Liabilities
725
717
934
1,155
1,356
1,440
1,860
2,082
2,715
2,886
3,039
3,290
Fixed Assets
162
161
169
201
214
268
354
400
447
435
465
572
CWIP
1
0
10
7
8
67
20
16
16
36
49
8
Investments
0
19
89
84
92
45
42
102
851
919
899
1,094
Other Assets
561
536
666
862
1,043
1,061
1,444
1,564
1,401
1,496
1,626
1,616
Total Assets
725
717
934
1,155
1,356
1,440
1,860
2,082
2,715
2,886
3,039
3,290
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
89
131
130
54
153
139
222
-33
416
350
444
388
Investing
-17
-32
-106
-27
-50
-110
41
-133
-774
-107
-77
-299
Financing
-72
-94
-16
-37
-24
-90
-6
-61
328
-232
-372
-88
Net Cash Flow
-1
5
8
-10
80
-61
257
-227
-30
11
-5
2
Free Cash Flow
77
117
88
13
102
55
157
-110
365
267
342
264
CFO/OP
90
102
93
51
94
85
96
16
153
118
127
115
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
51
55
55
70
65
47
52
50
47
44
35
33
Inventory Days
74
57
68
70
75
105
124
129
87
83
88
79
Days Payable
55
42
54
74
72
66
93
68
55
56
65
65
Cash Conversion Cycle
70
70
68
66
68
86
83
111
79
71
59
47
Working Capital Days
51
58
58
69
67
74
71
88
50
37
37
43
ROCE %
28%
37%
37%
26%
26%
26%
26%
22%
14%
16%
17%
17%

Shareholding Pattern

As of Mar 2026
Promoters 53.23%
DIIs 23.39%
FIIs 12.07%
Public 9.45%
Others 1.86%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
57.22%
56.05%
56.05%
55.96%
55.88%
55.88%
55.86%
55.85%
55.80%
55.62%
55.62%
54.57%
54.48%
54.42%
54.39%
54.35%
54.30%
54.28%
53.32%
53.28%
53.23%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
13.02%
13.35%
13.90%
13.85%
13.72%
13.43%
12.56%
12.45%
12.13%
12.07%
DIIs
12.58%
15.15%
15.28%
15.99%
17.31%
18.04%
17.96%
18.93%
19.09%
19.28%
19.32%
20.45%
20.17%
20.16%
19.88%
20.25%
20.62%
21.61%
22.86%
23.33%
23.39%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
12.83%
12.91%
13.08%
12.89%
13.29%
12.84%
11.88%
11.11%
11.05%
10.58%
10.26%
10.43%
10.28%
9.76%
10.13%
9.92%
9.83%
9.77%
9.57%
9.47%
9.45%
Others
17.37%
15.88%
15.59%
15.16%
13.52%
13.25%
14.30%
14.11%
14.06%
14.52%
14.80%
1.54%
1.72%
1.76%
1.75%
1.75%
1.82%
1.78%
1.79%
1.80%
1.86%
No. of Shareholders
92,182
1,25,500
1,35,621
1,27,972
1,45,164
1,36,986
1,37,008
1,25,431
1,23,131
1,17,061
1,18,152
1,18,276
1,19,562
1,15,823
1,40,417
1,32,003
1,32,948
1,33,000
1,32,841
1,30,218
1,33,257

Documents

1
Concall - May 2017 May 2017
2
Concall - May 2018 May 2018
3
Concall - Aug 2018 Aug 2018
4
Concall - Oct 2018 Oct 2018
5
Concall - Jan 2019 Jan 2019

Frequently Asked Questions about V-Guard Industries Ltd

What does V-Guard Industries Ltd do?
Founded in 1977, V-Guard Industries Ltd. (‘V-Guard’) is a reputed Indian company manufacturing innovative and experiential products in the categories of Electronics, Electricals and Consumer Durables. It has grown from being a brand synonymous with voltage stabilizers across South India, to a bra...
Where is V-Guard Industries Ltd (VGUARD) listed?
V-Guard Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: VGUARD and BSE: 532953. You can view its live share price, financials, and ratios on Tapetide.
Which sector does V-Guard Industries Ltd belong to?
V-Guard Industries Ltd operates in the Consumer Discretionary sector within the Consumer Durables industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of V-Guard Industries Ltd?
V-Guard Industries Ltd has a market capitalisation of approximately ₹13583.07 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of V-Guard Industries Ltd?
The Price-to-Earnings (PE) ratio of V-Guard Industries Ltd is 51.55. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of V-Guard Industries Ltd?
Over the past 52 weeks, V-Guard Industries Ltd has traded between a low of ₹290 and a high of ₹409.75. This range helps investors understand the stock's price volatility and recent trading levels.
Does V-Guard Industries Ltd pay dividends?
Yes, V-Guard Industries Ltd has a dividend yield of 0.48%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of V-Guard Industries Ltd?
V-Guard Industries Ltd has a Return on Equity (ROE) of 14.20%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research V-Guard Industries Ltd on Tapetide?
On Tapetide, you can view V-Guard Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Founded in 1977, V-Guard Industries Ltd. (‘V-Guard’) is a reputed Indian company manufacturing innovative and experiential products in the categories of Electronics, Electricals and Consumer Durables. It has grown from being a brand synonymous with voltage stabilizers across South India, to a brand offering a wide array of thoughtfully engineered products to consumers across the length and breadth of the country. Underpinned by its continuous quest to enrich consumer lives and power a stronger tomorrow. [1]

Website vguard.in
CEO Mr. Mithun K. Chittilappilly
Employees 3,133
Listed 2008-03-13
Face Value ₹ 1
Issued Size 43,63,44,639

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