Electrical Goods

V-Guard Q2 results: PAT grows 17.7% to Rs 69.4 cr, revenue at Rs 1,294 cr

Electrical goods manufacturer V-Guard Industries Ltd on Tuesday reported a 17.7 per cent rise in consolidated net profit to Rs 69.39 crore in the September quarter. It posted a net profit of Rs 58.95 crore in the July-September period last fiscal, according to a regulatory filing. The company's revenue from operations rose 14.13 per cent to Rs 1,293.99 crore during the period under review. It was Rs 1,133.75 crore in the corresponding period a year ago. Total expenses of V-Guard in the September quarter were up 13.36 per cent to Rs 1,213.42 crore. Its total income, which includes other incomes, was up 13.07 per cent at Rs 1,298.04 crore in the September quarter. Its Managing Director Mithun K Chittilappilly said the business has delivered healthy topline growth during the quarter led by the electronics segment. "Gross margins continue to improve aided by a higher share of in-house manufacturing, cost-saving initiatives and gradual shift towards a premium portfolio. Margins for wi

Govt rolls out mandatory quality norms for electrical accessories

The government has issued mandatory quality norms for electrical accessories such as switch-socket-outlets and cable trunking to curb the import of sub-standard goods and boost domestic manufacturing of these goods. The Electrical Accessories (Quality Control) Order, 2023 was issued in this regard by Department for Promotion of Industry and Internal Trade (DPIIT) on January 1 this year. Under this order, items cannot be produced, sold, traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark. The order will come into force from six months of the date of publication of the notification, DPIIT said. It added that "nothing in this order shall apply to goods or articles manufactured domestically for export". In order to safeguard the MSME sector, relaxations have been granted to comply with the order. Small industries have been given additional nine months time, while 12 extra months will be given to micro enterprises. DPIIT in consultation with BIS and

Siemens Energy weighs sale of electrical components maker Trench

Siemens Energy is analyzing how to improve the long-term profitability and competitiveness of its bushings, instrument transformers and coils business, according to a spokesperson

Margin pressure for consumer electrical companies to continue in Q4

Volumes key as costs rise and firms refrain from hiking prices of products

Is the capital goods sector on the recovery path as inflation eases?

Revenue growth estimates have moderated post Q2 but the bottom may be close

Eveready charged up, aims to double revenue in 4 years with existing biz

Company's focus shifts to topline growth under Burmans; may look at new categories later

Motherson's local wiring biz better placed than its global sales entity

Demand, rising content per vehicle, return ratios key investment arguments for Motherson Sumi Wiring

Insured assets worth Rs 150 cr affected in fire at Neemrana unit: Havells

Assets worth Rs 150 crore, which were fully insured, were affected in the massive fire at its Neemrana-based manufacturing unit, said consumer electrical goods manufacturer Havells India. On July 27, a massive fire had broken out at Havells factory at Neemrana in Rajasthan's Alwar district. There was no human loss/injury and the entire building, plant and machinery, and inventories at the Neemrana plant were fully insured, said a regulatory update from Havells India. "The company has now ascertained the book value of the assets affected due to the incident as around Rs 150 crore, which is fully insured," it said. Havells' Neemrana unit is the largest and most automated water heater plant in India. Established in 2004 and spread over 1,94,249 square metres, Havells also manufactures lighting fixtures, CFLs, HID lamps and motors here. For the financial year ended on March 31, 2022, Havells India's revenue was at Rs 13,888.53 crore.

Eureka Forbes managing director and CEO Marzin Shroff to step down

Shroff, who was leading the company for the last five years, will move to a new role as senior advisor to both Advent International and Eureka Forbes Ltd, said a company statement

India on way to reach $300 bn worth electronic goods production: Vaishnaw

Union Minister Ashwini Vaishnaw also said developing a semiconductor industry is not a sprint but a marathon and that the government is for it

Hope of demand recovery drives gains for Havells' stock

Margin performance will be an additional trigger going ahead

One in two consumers stuck with defective gadgets, survey shows

The items include automobiles and gadgets like smartphones, laptops, consumer electronics like television, white goods, electrical appliances, etc

Amid higher raw material costs, margin pressures may continue for Havells

Demand recovery, however, has been strong which could help partially offset cost inflation

Rakesh Jhunjhunwala-backed Rare Enterprises to invest in Syska LED

Rakesh Jhunjhunwala's Rare Enterprises said the company will invest in Uttamchandani family-promoted Syska LED, which will help the fast-moving electrical goods company in its next phase of growth

Havells India Q1 net profit jumps about four-folds to Rs 236 crore

Consumer electrical goods maker Havells India Ltd on Wednesday reported nearly four-fold jump in its consolidated net profit at Rs 235.78 crore for the first quarter ended June 2021.

B2C revenue tilt to improve margins for Polycab India

The company seeks to double revenues by FY26

Voltas impresses street, scores over peers with strong show in Sep quarter

Better than expected performance, market share gains in room ACs improve earnings outlook

Entrepreneurial spark helped this duo light up India's stadiums, airports

These Bengaluru-based techies are now building UV products to kill Coronavirus

Demand for ACs to rise by 40-45% this summer: Assocham

Apprehensions of deficient rains likely to increase demand for power back up devices like generators

Havells aims to corner 15% share of India's water heater segment

The company has launched Made in India water heaters, which use colour changing LED technology to communicate different temperature levels