V-Guard Industries spurted 5.33% to Rs 252 after the company's consolidated net profit soared 112.19% to Rs 68.39 crore on 58% increase in revenue from operations to Rs 855.19 crore in Q4 March 2021 over Q4 March 2020.
Profit before tax jumped 136.08% to Rs 99.77 crore in Q4 FY21 as against Rs 42.26 crore in Q4 FY20. The Q4 result was announced during trading hours today, 26 May 2021.
During the financial year, V-Guard Industries' net profit gained 7.25% to Rs 201.89 crore on 8.72% rise in revenue from operations to Rs 2,721.23 crore in FY 2021 over FY 2020. Effective tax rate has gone up due to severe supply disruption in Sikkim plants, as they were affected by COVID-19 related lockdowns up to September 2020.
All the three segments of the company, namely: Electronics, Electrical and Consumer Durables have recorded strong growth during the quarter. Meanwhile, the board has recommended a dividend of Rs 1.20 per equity share for the FY 2020-21.
Commenting on the company's Q4 performance, Mithun. K. Chittilappilly, the managing director (MD) of V-Guard Industries, has said that: "The business performance has been very strong in Q4, continuing on the growth momentum witnessed in Q3. We have been able to achieve a broad-based growth across all our segments including our emerging categories. Input cost inflation remains a challenge, and while we have been able to mitigate it to large extent, some near term pressures are likely to continue. As we enter the new financial year, the country has been hit by a more severe second wave of COVID-19. As most parts of the country are under lockdown, there will be a significant impact on consumer demand during Q1 FY 22. We are confident that our business will come back strongly once the lockdowns are lifted."
V-Guard Industries makes consumer electrical and electronics products. The company's product range includes voltage stabilizers, inverter, electric & solar water heaters, fans, kitchen appliances, pumps, wires & cables, domestic switch gears, air coolers, etc.
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