V-guard

V-Guard Q2FY25 results: Net profit increases 7.5% to Rs 63.39 crore

The company's consolidated net revenue from operations for the quarter ended September 30 this year was Rs 1,293.99 crore, marking a growth of 14.1%

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

RoC fines V-Guard MD over appointment, retirement related rules violation

The Managing Director of V-Guard Industries, a manufacturer of electrical and home appliances, has been fined by the Registrar of Companies (RoC) over violation of rules and regulations related to retirement and appointment of directors on the board. The RoC Ernakulam has imposed a penalty of Rs 2.03 lakh on V-Guard Industries Managing Director M K Chittilappilly for violation of Section 152(6) of the Companies Act over an application filed by the company suo moto. "The Managing Director has received an Adjudication order from RoC, Kerala imposing penalty under Section 159 of the Act for default under Section 152(6) of the Act," the company said in a regulatory filing. Section 152 (6) of the Companies Act governs the appointment and retirement of directors in Indian companies. It mandates the retirement of all directors at Annual General Meetings (AGMs). One-third of rotational directors should retire each year, but the number may vary depending on the total directors' count. Howe

V-Guard Q1 results: Net profit up 54.11% to Rs 99 cr on improved margins

V-Guard Industries on Wednesday reported 54.11 per cent increase in consolidated net profit at Rs 98.97 crore for June quarter FY25 helped by improvement in margins with softening commodity prices and cost-effective initiatives. The electrical goods manufacturer had clocked a net profit of Rs 64.22 crore in April-June FY24, according to a regulatory filing. Revenue from operations rose to Rs 1,477.10 crore during the period under review from Rs 1,214.76 crore in the corresponding period a year ago. Total expenses were up 18.5 per cent to Rs 1,351.65 crore. Total income was higher by 21 per cent at Rs 1,484.01 crore in June quarter. "The business has delivered strong topline growth in electronics and consumer durables segments led by strong demand for summer products," Managing Director Mithun K Chittilappilly said. However, the wires segment, which is the largest category under the electricals segment was impacted by trade de-stocking due to the softening of copper prices in ...

V-Guard Q3 results: Profit rises 48% to Rs 58.24 crore, beats estimates

Consolidated net profit rose 48% to 582.4 million rupees ($7 million) in the quarter ended Dec. 31 from a year earlier. Analysts, on average, had expected a profit of 555.1 million rupees

V-Guard net profit declines 41.14% to Rs 52.7 cr in March quarter

Electrical goods manufacturer V-Guard Industries Ltd on Tuesday reported a 41.14 per cent decline in consolidated net profit to Rs 52.72 crore for the fourth quarter ended March 2023. It had posted a net profit of Rs 89.57 crore in the January-March period last fiscal, V-Guard Industries said in a regulatory filing. However, its revenue from operations rose 7.64 per cent to Rs 1,140.14 crore during the period under review. It was Rs 1,059.16 crore in the corresponding period a year ago. "The PAT in the base period was higher due to tax reversal on account of migration to the new tax regime," said V-Guard in its earning statement. V-Guard's total expenses increased 11.31 per cent to Rs 1,070.70 crore in the fourth quarter of FY23. "South markets witnessed a YoY decline of 3.3 per cent whereas Non-South markets witnessed YoY growth of 9.7 per cent in Q4 FY23," said V-Guard. Its Non-South markets contributed to 45.7 per cent of total revenues in Q4 FY23 compared to 42.6 per cent in

ESAF Bank, V-Guard partners to finance solar rooftop power systems

ESAF Small Finance Bank and electric equipment manufacturer V-Guard Industries signed an agreement to provide financing options to customers looking to install solar rooftop power systems. Under the agreement, ESAF Bank will provide various financing options, including loans and attractive installment payment plans, a statement said. With the strategic alliance with ESAF Bank, it said, consumers can opt to finance up to 80 per cent of the total cost of the rooftop solar power system, including the cost of installation for residential or commercial applications. This collaboration will not only reduce the burden on customers to make an upfront payment but also enable them to generate their own electricity, thereby reducing their dependence on the grid, it said. This partnership will enable customers to switch to clean energy with ease and affordability, it added.

V-Guard Industries to acquire Sunflame Enterprises for Rs 660 crore

Deal likely to close by mid-Jan 2023, will be funded by mix of internal accruals and debt

V-Guard to acquire Sunflame Enterprises for Rs 660 crore in all-cash deal

Electricals and home appliances player V-Guard Industries on Friday said it will acquire Sunflame Enterprises for Rs 660 crore in an all-cash deal. The acquisition of the Delhi-based Sunflame will help V-Guard scale up its kitchen appliances business while also unlocking synergy benefits. "We have entered into a definitive agreement to acquire 100 per cent stake of Sunflame Enterprises for Rs 660 crore in an all cash deal," the Kochi-based company said in a statement. Sunflame is a debt-free company and has around Rs 50 crore cash in-hand which does not include in the deal -- implying the promoter of the selling company will take out that money before the deal is concluded. It had a topline of Rs 350 crore in FY22. The acquisition is in line with V-Guard's strategy to become a significant player in the domestic kitchen appliances segment, it added. Sunflame has a large brand portfolio which includes cooktops, chimneys, pressure cookers, mixer grinders, small kitchen appliances ...

V-Guard gains 6%, hits 52-week high as profit more-than-doubles in Q4

The company's revenue from operations during January-March 2021 jumped 58.04 per cent YoY to Rs 855.19 crore

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V-Guard to exit from the non-core B2B segment

Kochi-based consumer electrical and electronics manufacturer V-Guard, is planning to exit from business to business segment, to tap its core business of business to consumer segment targeting around 15 per cent growth every year in next few years.The company, as part of the strategy, has recently exited from industrial UPS business. It has another business of making industrial cables, from which it will be exiting in one or two quarters, said Mithun K Chittilapilly, managing director of V-Guard Industries Ltd. The volume of this business segment is very small, to around two per cent of its total business."These are very small businesses and they were not making money and had long working capital requirements. That is not our core competency," he said. The company has LT Cables business, which it offers to construction and power sectors, apart from other industry focused products."Despite this, we are targeting a 15 per cent growth every year in the next few years," he said. The ...

Consumer electrical major V-Guard looking out for acquisition

V-Guard is looking at acquiring companies which are either in its current product category or some of the new product categories