V-Guard Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Electrical: 41.3% • Electronics: 27.5% • Consumer Durables: 27.1%
AI Sector View
AI GENERATEDConsumer Durables
Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.
PROS
- Company is almost debt free
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 76.4% YoY, showing strong momentum
- Company has delivered good sales growth of 17.0% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.51x)
CONS
- Company has delivered a poor profit growth of 8.8% over past five years
- Stock is trading at 5.9x its book value
- Expensive relative to growth - PEG of 2.2
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ABB | 7330.00 | 51.99 | 155328.84 | 0.54 | 3623.00 | 930.02 | 35588.70 | 1110.31 | 30.18 | 12.56 |
| CGPOWER | 908.00 | 114.44 | 143050.87 | 0.14 | 308.28 | 15.52 | 3280.81 | 13.99 | 27.94 | 12.11 |
| SIEMENS | 3972.00 | 43.19 | 141451.06 | 0.45 | 214.31 | -49.38 | 4713.70 | 8.44 | 21.42 | 9.14 |
| POWERINDIA | 31065.00 | 120.36 | 138464.05 | 0.03 | 2941.50 | 2135.18 | 24936.90 | 1586.18 | 28.73 | 14.58 |
| GVT&D | 4500.00 | 617.01 | 115220.94 | 0.22 | 362.99 | 24.65 | 1836.14 | 38.04 | 75.51 | 25.10 |
| ENRIN | 3180.50 | 76.12 | 113264.13 | 0.13 | 440.90 | 67.83 | 2485.60 | 39.28 | 40.19 | 23.56 |
| WAAREEENER | 2545.00 | 19.18 | 73207.26 | 0.16 | 891.87 | 15.39 | 7931.79 | 79.22 | 37.92 | 18.15 |
| APARINDS | 17293.00 | 61.29 | 72409.83 | 0.35 | 4674.50 | 1677.98 | 65910.60 | 1191.31 | 31.84 | 11.50 |
| HAVELLS | 1116.00 | 42.88 | 70035.88 | 0.90 | 289.71 | -16.64 | 6518.19 | 19.48 | 25.74 | 7.15 |
| SUZLON | 44.44 | 19.43 | 61085.61 | 0.00 | 305.22 | -5.89 | 3829.09 | 22.83 | 35.79 | 15.55 |
| SCHNEIDER | 1195.30 | 155.53 | 28580.11 | 0.00 | 12.44 | -69.84 | 651.36 | 4.78 | 31.01 | 5.23 |
| VGUARD | 328.55 | 39.36 | 14354.84 | 0.46 | 130.25 | 76.37 | 1810.65 | 23.50 | 18.72 | 10.55 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | |
| 1,110 | 1,041 | 1,064 | 1,215 | 1,321 | 1,184 | 1,165 | 1,395 | 1,342 | 1,232 | 1,280 | 1,585 | 1,650 | |
| Operating Profit | 105 | 92 | 102 | 128 | 156 | 110 | 104 | 143 | 124 | 109 | 123 | 171 | 160 |
| OPM % | 8.62% | 8.16% | 8.72% | 9.52% | 10.55% | 8.52% | 8.21% | 9.30% | 8.43% | 8.15% | 8.78% | 9.73% | 8.85% |
| 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 |
| Profit before Tax | 86 | 78 | 76 | 101 | 132 | 85 | 79 | 118 | 98 | 85 | 77 | 147 | 172 |
| Tax % | 25.25% | 23.96% | 23.62% | 24.31% | 25.23% | 25.09% | 23.52% | 22.91% | 24.84% | 23.26% | 26.20% | 23.83% | 24.22% |
| Net Profit | 0 | 0 | 0 | 0 | 99 | 63 | 60 | 91 | 74 | 65 | 57 | 112 | 130 |
| 1.48 | 1.35 | 1.33 | 1.74 | 2.26 | 1.45 | 1.38 | 2.08 | 1.69 | 1.49 | 1.30 | 2.56 | 2.97 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,086 | 2,326 | 2,594 | 2,503 | 2,721 | 3,500 | 4,127 | 4,857 | 5,578 | 5,966 | 6,310 | |
| 1,877 | 2,135 | 2,370 | 2,245 | 2,409 | 3,160 | 3,818 | 4,431 | 5,065 | 5,439 | 5,747 | |
| Operating Profit | 209 | 190 | 224 | 258 | 312 | 340 | 309 | 426 | 513 | 527 | 563 |
| OPM % | 10.00% | 8.19% | 8.65% | 10.31% | 11.47% | 9.72% | 7.49% | 8.77% | 9.19% | 8.83% | 8.93% |
| 13 | 11 | 20 | 25 | 21 | 11 | 27 | 35 | 22 | 2 | 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 |
| Profit before Tax | 204 | 180 | 220 | 250 | 288 | 294 | 256 | 340 | 414 | 408 | 482 |
| Tax % | 29.02% | 24.84% | 23.47% | 24.57% | 29.92% | 22.29% | 26.08% | 24.31% | 24.21% | 24.41% | 24.25% |
| Net Profit | 145 | 135 | 168 | 188 | 202 | 228 | 189 | 258 | 314 | 308 | 365 |
| EPS | 3.37 | 3.10 | 3.86 | 4.32 | 4.65 | 5.25 | 4.35 | 5.93 | 7.20 | 7.06 | — |
| Dividend Payout % | 20.55% | 22.19% | 20.42% | 20.60% | 25.71% | 24.64% | 29.71% | 23.61% | 20.84% | 21.25% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 17%
- 3 Years:
- 13%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 9%
- 3 Years:
- 18%
STOCK PRICE CAGR
- 10 Years:
- 10%
- 5 Years:
- 4%
- 3 Years:
- 2%
- 1 Year:
- -11%
RETURN ON EQUITY
- 10 Years:
- 18%
- 5 Years:
- 15%
- 3 Years:
- 15%
- Last Year:
- 14%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 42 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 44 | 44 |
| Minority Interest | 0 | 2 | 2 | 4 | 5 | 5 | 0 | 0 | 0 | 0 |
| 571 | 674 | 814 | 924 | 1,138 | 1,327 | 1,495 | 1,736 | 2,007 | 2,266 | |
| 6 | 10 | 18 | 50 | 68 | 66 | 512 | 244 | 109 | 139 | |
| Trade Payables | 219 | 336 | 359 | 305 | 475 | 453 | 488 | 550 | 657 | 738 |
| 96 | 106 | 135 | 127 | 143 | 203 | 361 | 578 | 512 | 510 | |
| Total Liabilities | 934 | 1,171 | 1,372 | 1,452 | 1,871 | 2,098 | 2,899 | 3,152 | 3,329 | 3,698 |
| 168 | 217 | 230 | 284 | 369 | 463 | 1,245 | 1,332 | 1,374 | 1,523 | |
| Capital Work in Progress | 10 | 7 | 8 | 67 | 18 | 9 | 24 | 25 | 49 | 20 |
| 89 | 75 | 83 | 36 | 33 | 33 | 34 | 101 | 81 | 276 | |
| 274 | 316 | 376 | 479 | 632 | 860 | 767 | 812 | 997 | 1,024 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 596 | 542 | 533 | |
| Cash & Bank | 15 | 5 | 86 | 112 | 281 | 61 | 67 | 57 | 64 | 59 |
| 377 | 549 | 588 | 475 | 537 | 672 | 762 | 229 | 222 | 262 | |
| Total Assets | 934 | 1,171 | 1,372 | 1,452 | 1,871 | 2,098 | 2,899 | 3,152 | 3,329 | 3,698 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 195 | 93 | 209 | 220 | 296 | 52 | 473 | 393 | 477 | 459 | |
| Cash from Investing | -106 | -25 | -51 | -111 | 41 | -121 | -771 | -153 | -97 | -364 |
| Cash from Financing | -16 | -37 | -25 | -91 | -6 | -62 | 326 | -232 | -378 | -98 |
| 8 | -10 | 80 | -62 | 257 | -220 | -21 | 8 | 3 | -3 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-01 - V-Guard Industries Limited has informed the Exchange about Schedule of meet
2026-08-12 - V-Guard Industries Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 11, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-11 - V-Guard Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 11, 2026
2026-08-11 - V-Guard Industries Limited has informed the Exchange about ESG Rating
2026-08-05 - V-Guard Industries Limited has informed the Exchange about Transcript
2026-07-30 - V-Guard Industries Limited has informed the Exchange about Link of recordings
2026-07-30 - V-Guard Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-07-29 - V-Guard Industries Limited has informed the Exchange about Investor Presentation
2026-07-29 - V-Guard Industries Limited has informed the Exchange regarding a press release dated July 29, 2026, titled "Results for Q1FY27".
News
Recent coverage and analyst commentary for VGUARD
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V-Guard Industries Ltd.
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