V-Guard Industries Ltd logo

V-Guard Industries Ltd

VGUARD NSE

Key Fundamentals

SmallcapHousehold AppliancesConsumer Goods
Market Cap
₹14,937 Cr
Volatility
Moderate
P/E Ratio
39.68
EBITDA
₹550 Cr
Return on Equity
12.99%
Debt to Equity
0.07
Book Value
₹54.31
EPS
₹6.72
52W High
₹392.2
52W Low
₹288.8

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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50 extracted metrics + investor summaries across FY13–FY26.

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Tapetide Score

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Technical Indicators

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 21.9%

Growth Rate

Revenue Growth
6.98% ↗
Net Income Growth
-1.72% ↘
Cash Flow Change
-3.86% ↘
ROE
-13.11% ↘
ROCE
-15.42% ↘
EBITDA Margin (Avg.)
-3.67% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
AI opinion · based on fundamentals
Risk medium

V-Guard Industries is a nearly debt-free consumer electricals company trading at a PE of 38.2x with a market cap of ~₹13,989 crore. The company delivered 14.8% revenue growth in FY25 to ₹5,578 crore and 21.8% PAT growth to ₹314 crore, though FY26 saw a deceleration to 7% revenue growth and a marginal 1.7% PAT decline.

Bull Case 8
  • Almost debt-free balance sheet provides financial flexibility and lower interest burden, reducing risk during economic downturns
  • Compounded sales growth of 13% on a TTM basis and 13% over 3 years demonstrates consistent top-line momentum
  • TTM profit growth of 32% significantly outpaces revenue growth of 13%, indicating meaningful margin expansion
  • FY25 consolidated revenue reached ₹5,578 crore, up 14.8% YoY, showing strong demand across product categories
  • Successful geographic diversification with non-South markets now contributing over 50% of revenue, reducing regional concentration risk
  • Sunflame acquisition expanded the kitchen appliances vertical, adding a new growth lever beyond core electricals
  • Consistent dividend payout of 21.9% provides regular shareholder returns alongside growth reinvestment
  • Electricals segment, contributing over 40% of revenue, grew nearly 26% in Q3 FY26, demonstrating category strength
Bear Case 8
  • PE of 38.2x is elevated for a company with 3-year profit CAGR of 20% and 5-year profit CAGR of only 10%, implying stretched valuations
  • FY26 full-year revenue growth decelerated sharply to 7% from 14.8% in FY25, and PAT declined 1.7% YoY to ₹308 crore
  • Stock CAGR of -9% over 1 year and only 2% over 3 years indicates prolonged underperformance despite business growth
  • EBITDA margin contracted from 9.2% to 8.8% in FY26, reflecting cost pressures and input cost volatility
  • ROE has declined from a 10-year average of 17% to 14% in the last year, suggesting diminishing capital efficiency
  • Price-to-book of 5.87x is premium for a consumer goods company generating only 14% ROE, limiting valuation support
  • Dividend yield of only 0.47% offers minimal income cushion during periods of capital depreciation
  • Intense competition from larger players like Havells and Crompton in wires, fans, and lighting segments could pressure margins and market share

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

AI News Digest

Anthropic anthropic claude-opus-4.6 4h ago
Positives 2
  • Q1FY27 PAT surges 76-93% YoY Jul 30

    Consolidated net profit jumped 76.4% YoY to ₹130.25 crore on revenue of ₹1,810.65 crore (up 23.5% YoY). EBITDA expanded to ₹190.96 crore, reflecting strong margin improvement.

  • ₹1.50 dividend approved at AGM Aug 11

    Shareholders approved a ₹1.50 per share dividend at the 30th AGM held on August 11, 2026, along with key board appointments including Usha Sunny.

Neutral 3
  • Q1FY27 earnings call uploaded Jul 30

    V-Guard uploaded the audio recording of its Q1FY27 earnings call held on July 30, 2026, discussing results for the quarter ended June 30, 2026.

  • BRSR filed for FY26 Jul 14

    V-Guard filed its Business Responsibility and Sustainability Report for FY26, detailing ESG initiatives, waste management, and energy consumption metrics.

  • 30th AGM held via video Aug 11

    The 30th Annual General Meeting was conducted on August 11, 2026 via video conferencing with dividend approval and director appointments on the agenda.

TL;DR: V-Guard delivered a strong Q1FY27 with 76%+ profit growth and 23.5% revenue expansion, signaling healthy demand across its consumer goods portfolio. Margins are expanding and no material headwinds are visible in the recent news flow. The company maintains shareholder returns with a ₹1.50 dividend. The trend is clearly improving, with momentum likely to sustain if demand conditions and input costs remain favorable.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,215
1,134
1,165
1,343
1,477
1,294
1,269
1,538
1,466
1,341
1,404
1,755
1,811
Expenses
1,110
1,041
1,064
1,215
1,321
1,184
1,165
1,395
1,342
1,232
1,280
1,585
1,620
Operating Profit
105
92
102
128
156
110
104
143
124
109
123
171
191
OPM %
9%
8%
9%
10%
11%
9%
8%
9%
8%
8%
9%
10%
11%
Other Income
12
14
3
5
7
4
5
4
5
5
-16
8
12
Interest
11
9
9
10
9
8
6
3
4
2
3
3
3
Depreciation
20
20
19
22
22
22
25
27
26
27
27
28
28
PBT
86
78
76
101
132
85
79
118
98
85
77
147
172
Tax %
25%
24%
24%
24%
25%
25%
24%
23%
25%
23%
26%
24%
24%
Net Profit
64
59
58
76
99
63
60
91
74
65
57
112
130
EPS in Rs
1.48
1.36
1.34
1.75
2.28
1.46
1.38
2.09
1.69
1.5
1.31
2.57
2.98
Figures in ₹ Crores

Profit & Loss

  Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,086
2,326
2,594
2,503
2,721
3,500
4,127
4,857
5,578
5,966
6,310
Expenses
1,876
2,135
2,369
2,244
2,409
3,159
3,807
4,429
5,064
5,439
5,716
Operating Profit
210
191
225
259
312
341
320
428
514
527
594
OPM %
10%
8%
9%
10%
11%
10%
8%
9%
9%
9%
9%
Other Income
12
10
20
24
20
10
16
33
20
1
8
Interest
2
2
2
4
6
8
16
40
25
12
11
Depreciation
16
20
23
29
39
49
64
81
96
108
109
PBT
204
180
220
250
288
294
256
340
414
408
482
Tax %
29%
25%
23%
25%
30%
22%
26%
24%
24%
24%
—
Net Profit
145
135
168
188
202
228
189
258
314
308
365
EPS in Rs
3.41
3.15
3.92
4.37
4.67
5.28
4.38
5.93
7.2
7.06
8.36
Div. Payout %
21%
22%
20%
21%
26%
25%
30%
24%
21%
21%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
42
43
43
43
43
43
43
43
44
44
Reserves
592
707
857
953
1,168
1,364
1,564
1,771
2,054
2,329
Borrowings
6
7
14
13
69
68
503
401
134
165
Other Liabilities
294
414
458
447
594
632
788
936
1,098
1,160
Total Liabilities
934
1,171
1,372
1,455
1,875
2,107
2,899
3,152
3,329
3,698
Fixed Assets
169
218
231
284
370
463
1,247
1,334
1,374
1,524
CWIP
10
7
8
67
20
17
27
37
49
21
Investments
89
75
83
36
33
33
34
101
81
276
Other Assets
666
870
1,050
1,068
1,452
1,593
1,591
1,679
1,825
1,877
Total Assets
934
1,171
1,372
1,455
1,875
2,107
2,899
3,152
3,329
3,698
Figures in ₹ Crores

Cash Flow

  Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
130
52
156
141
222
-37
424
393
477
459
Investing
-106
-25
-51
-112
41
-121
-771
-153
-97
-364
Financing
-16
-37
-25
-91
-6
-62
326
-232
-378
-98
Net Cash Flow
8
-10
80
-62
257
-220
-21
8
3
-3
Free Cash Flow
88
11
103
57
158
-161
323
265
357
279
CFO/OP
93
49
93
85
95
15
148
111
114
107
Figures in ₹ Crores

Ratios

  Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
55
71
65
47
52
50
49
45
35
33
Inventory Days
68
71
76
105
124
130
97
92
102
98
Days Payable
54
76
73
67
94
69
62
62
67
71
Cash Conversion Cycle
68
66
68
85
83
112
85
75
70
60
Working Capital Days
58
70
65
74
71
88
55
41
43
39
ROCE %
—
26%
26%
26%
26%
22%
15%
18%
20%
18%

Shareholding Pattern

As of Jun 2026
Promoters 53.22%
DIIs 23.24%
FIIs 12.01%
Public 7.15%
Others 4.38%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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%
53.22%
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%
12.01%
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%
23.24%
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%
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%
7.15%
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%
4.38%
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
1,33,376

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 Goods sector within the Household Appliances 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 ₹14937.31 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 39.68. 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 ₹288.8 and a high of ₹392.2. 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 0.45%. 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 12.99%. 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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