V-Guard Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Electrical/Electro Mechanical: 42.5% • Electronics: 28.6% • Consumer Durables: 28.2%
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
- Latest quarter profit grew 93.5% YoY, showing strong momentum
- Company has delivered good sales growth of 16.1% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.58x)
- Company comfortably covers its interest (50.6x coverage)
- Stock looks reasonably valued - P/E of 45.9 is below its historical median
CONS
- Company has delivered a poor profit growth of 5.4% over past five years
- Stock is trading at 6.4x its book value
- Expensive relative to growth - PEG of 3.5
- Rich enterprise valuation - EV/EBITDA of 30.2x
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ABB | 7393.30 | 52.44 | 156670.22 | 0.53 | 3623.00 | 930.02 | 35588.70 | 1110.31 | 30.18 | 12.56 |
| CGPOWER | 927.00 | 116.83 | 146044.22 | 0.14 | 308.28 | 15.52 | 3280.81 | 13.99 | 27.94 | 12.11 |
| POWERINDIA | 31580.00 | 122.36 | 140759.52 | 0.03 | 2941.50 | 2135.18 | 24936.90 | 1586.18 | 28.73 | 14.58 |
| SIEMENS | 3947.50 | 42.92 | 140578.57 | 0.46 | 214.31 | -49.38 | 4713.70 | 8.44 | 21.42 | 9.14 |
| GVT&D | 4663.20 | 639.39 | 119399.62 | 0.21 | 362.99 | 24.65 | 1836.14 | 38.04 | 75.51 | 25.10 |
| ENRIN | 3179.80 | 76.10 | 113239.20 | 0.13 | 440.90 | 67.83 | 2485.60 | 39.28 | 40.19 | 23.56 |
| WAAREEENER | 2567.50 | 19.35 | 73854.48 | 0.16 | 891.87 | 15.39 | 7931.79 | 79.22 | 37.92 | 18.15 |
| APARINDS | 17440.85 | 61.81 | 73028.91 | 0.34 | 4674.50 | 1677.98 | 65910.60 | 1191.31 | 31.84 | 11.50 |
| HAVELLS | 1121.10 | 43.08 | 70355.94 | 0.89 | 289.71 | -16.64 | 6518.19 | 19.48 | 25.74 | 7.15 |
| SUZLON | 45.60 | 19.93 | 62680.10 | 0.00 | 305.22 | -5.89 | 3829.09 | 22.83 | 35.79 | 15.55 |
| SCHNEIDER | 1197.05 | 155.76 | 28621.95 | 0.00 | 12.44 | -69.84 | 651.36 | 4.78 | 31.01 | 5.23 |
| VGUARD | 327.40 | 39.22 | 14304.60 | 0.46 | 130.25 | 76.37 | 1810.65 | 23.50 | 18.72 | 10.55 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,148 | 1,072 | 1,078 | 1,262 | 1,415 | 1,229 | 1,185 | 1,480 | 1,406 | 1,272 | 1,326 | 1,687 | 1,737 | |
| 1,059 | 992 | 993 | 1,162 | 1,287 | 1,138 | 1,102 | 1,359 | 1,313 | 1,187 | 1,230 | 1,544 | 1,604 | |
| Operating Profit | 88 | 80 | 85 | 100 | 128 | 91 | 83 | 121 | 94 | 85 | 96 | 143 | 133 |
| OPM % | 7.69% | 7.49% | 7.90% | 7.92% | 9.04% | 7.41% | 6.99% | 8.16% | 6.67% | 6.71% | 7.21% | 8.47% | 7.63% |
| 11 | 14 | 2 | 25 | 7 | 4 | 5 | 3 | 5 | 19 | -16 | 7 | 11 | |
| Interest | 11 | 9 | 9 | 9 | 8 | 7 | 5 | 1 | 3 | 1 | 2 | 1 | 2 |
| Depreciation | 17 | 16 | 17 | 17 | 17 | 17 | 20 | 20 | 20 | 21 | 20 | 21 | 21 |
| Profit before Tax | 72 | 68 | 62 | 99 | 110 | 71 | 64 | 102 | 76 | 83 | 58 | 128 | 144 |
| Tax % | 26.19% | 23.97% | 24.42% | 20.04% | 25.74% | 26.71% | 24.84% | 23.68% | 26.27% | 20.08% | 27.19% | 25.28% | 25.00% |
| Net Profit | 53 | 52 | 47 | 79 | 82 | 52 | 48 | 78 | 56 | 66 | 42 | 95 | 108 |
| 1.23 | 1.19 | 1.07 | 1.81 | 1.87 | 1.19 | 1.10 | 1.78 | 1.27 | 1.50 | 0.97 | 2.17 | 2.46 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,086 | 2,312 | 2,566 | 2,482 | 2,699 | 3,477 | 4,051 | 4,559 | 5,309 | 5,692 | 6,022 | |
| 1,877 | 2,125 | 2,347 | 2,229 | 2,393 | 3,143 | 3,760 | 4,207 | 4,887 | 5,274 | 5,566 | |
| Operating Profit | 209 | 187 | 219 | 253 | 306 | 334 | 290 | 353 | 422 | 418 | 456 |
| OPM % | 10.00% | 8.09% | 8.55% | 10.20% | 11.36% | 9.61% | 7.17% | 7.74% | 7.95% | 7.34% | 7.58% |
| 13 | 11 | 18 | 24 | 21 | 11 | 25 | 53 | 20 | 15 | 21 | |
| Interest | 2 | 2 | 1 | 4 | 6 | 8 | 16 | 37 | 20 | 7 | 6 |
| Depreciation | 16 | 19 | 22 | 28 | 37 | 48 | 58 | 67 | 74 | 82 | 83 |
| Profit before Tax | 204 | 177 | 215 | 245 | 285 | 290 | 241 | 301 | 348 | 344 | 412 |
| Tax % | 29.02% | 24.93% | 22.86% | 24.56% | 30.10% | 21.81% | 25.71% | 23.30% | 25.17% | 24.57% | 24.41% |
| Net Profit | 145 | 133 | 166 | 185 | 199 | 227 | 179 | 231 | 260 | 259 | 311 |
| EPS | 3.37 | 3.08 | 3.82 | 4.28 | 4.61 | 5.23 | 4.12 | 5.32 | 5.97 | 5.94 | — |
| Dividend Payout % | 20.55% | 22.39% | 20.63% | 20.82% | 25.94% | 24.74% | 31.33% | 26.34% | 25.12% | 25.26% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 12%
- 5 Years:
- 16%
- 3 Years:
- 12%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 9%
- 5 Years:
- 5%
- 3 Years:
- 13%
STOCK PRICE CAGR
- 10 Years:
- 10%
- 5 Years:
- 5%
- 3 Years:
- 1%
- 1 Year:
- -10%
RETURN ON EQUITY
- 10 Years:
- 18%
- 5 Years:
- 14%
- 3 Years:
- 14%
- Last Year:
- 13%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 |
| 571 | 676 | 815 | 922 | 1,135 | 1,322 | 1,475 | 1,690 | 1,908 | 2,118 | |
| 6 | 6 | 14 | 47 | 65 | 64 | 510 | 202 | 58 | 47 | |
| Trade Payables | 219 | 329 | 353 | 301 | 473 | 447 | 433 | 484 | 636 | 683 |
| 96 | 102 | 132 | 125 | 142 | 197 | 246 | 458 | 385 | 383 | |
| Total Liabilities | 934 | 1,155 | 1,356 | 1,438 | 1,857 | 2,074 | 2,708 | 2,877 | 3,030 | 3,275 |
| 168 | 201 | 214 | 267 | 354 | 400 | 446 | 435 | 465 | 570 | |
| Capital Work in Progress | 10 | 7 | 8 | 67 | 18 | 9 | 12 | 24 | 48 | 8 |
| 89 | 84 | 92 | 45 | 42 | 102 | 851 | 919 | 899 | 1,094 | |
| 274 | 311 | 371 | 476 | 629 | 850 | 689 | 709 | 865 | 832 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 554 | 514 | 511 | |
| Cash & Bank | 15 | 5 | 85 | 112 | 281 | 54 | 24 | 36 | 30 | 32 |
| 377 | 547 | 587 | 471 | 533 | 659 | 684 | 201 | 210 | 227 | |
| Total Assets | 934 | 1,155 | 1,356 | 1,438 | 1,857 | 2,074 | 2,708 | 2,877 | 3,030 | 3,275 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 195 | 95 | 205 | 216 | 294 | 54 | 462 | 350 | 444 | 388 | |
| Cash from Investing | -106 | -27 | -50 | -110 | 41 | -133 | -774 | -107 | -77 | -299 |
| Cash from Financing | -16 | -37 | -24 | -90 | -6 | -61 | 328 | -232 | -372 | -88 |
| 8 | -10 | 80 | -61 | 257 | -227 | -30 | 11 | -5 | 2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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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