Consumer Durables
Valuation | |
|---|---|
| Market Cap | 13.32 kCr |
| Price/Earnings (Trailing) | 46.02 |
| Price/Sales (Trailing) | 2.37 |
| EV/EBITDA | 26.57 |
| Price/Free Cashflow | 44.05 |
| MarketCap/EBT | 35.04 |
| Enterprise Value | 13.29 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | -3.3% |
| Price Change 1M | -7.3% |
| Price Change 6M | -24.6% |
| Price Change 1Y | -22.1% |
| 3Y Cumulative Return | 6.6% |
| 5Y Cumulative Return | 6.8% |
| 7Y Cumulative Return | 5.7% |
| 10Y Cumulative Return | 17.3% |
| Revenue (TTM) |
| 5.63 kCr |
| Rev. Growth (Yr) | 3.7% |
| Earnings (TTM) | 290.49 Cr |
| Earnings Growth (Yr) | 3% |
Profitability | |
|---|---|
| Operating Margin | 7% |
| EBT Margin | 7% |
| Return on Equity | 13.26% |
| Return on Assets | 8.7% |
| Free Cashflow Yield | 2.27% |
Cash Flow & Liquidity |
|---|
| Cash Flow from Investing (TTM) | -96.92 Cr |
| Cash Flow from Operations (TTM) | 476.96 Cr |
| Cash Flow from Financing (TTM) | -377.51 Cr |
| Cash & Equivalents | 42.97 Cr |
| Free Cash Flow (TTM) | 356.3 Cr |
| Free Cash Flow/Share (TTM) | 8.17 |
Balance Sheet | |
|---|---|
| Total Assets | 3.34 kCr |
| Total Liabilities | 1.15 kCr |
| Shareholder Equity | 2.19 kCr |
| Current Assets | 1.72 kCr |
| Current Liabilities | 907.99 Cr |
| Net PPE | 542.65 Cr |
| Inventory | 999.4 Cr |
| Goodwill | 252.8 Cr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.00 |
| Debt/Equity | 0.00 |
| Interest Coverage | 24.8 |
| Interest/Cashflow Ops | 24.62 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 1.5 |
| Dividend Yield | 0.49% |
| Shares Dilution (1Y) | 0.20% |
| Shares Dilution (3Y) | 1% |
Balance Sheet: Strong Balance Sheet.
Size: Market Cap wise it is among the top 20% companies of india.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Momentum: Stock is suffering a negative price momentum. Stock is down -7.3% in last 30 days.
Insider Trading: Significant insider selling noticed recently.
Past Returns: In past three years, the stock has provided 6.6% return compared to 12.5% by NIFTY 50.
Smart Money: Smart money is losing interest in the stock.
Technicals: SharesGuru indicator is Bearish.
Balance Sheet: Strong Balance Sheet.
Size: Market Cap wise it is among the top 20% companies of india.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Momentum: Stock is suffering a negative price momentum. Stock is down -7.3% in last 30 days.
Insider Trading: Significant insider selling noticed recently.
Past Returns: In past three years, the stock has provided 6.6% return compared to 12.5% by NIFTY 50.
Smart Money: Smart money is losing interest in the stock.
Technicals: SharesGuru indicator is Bearish.
Investor Care | |
|---|---|
| Dividend Yield | 0.49% |
| Dividend/Share (TTM) | 1.5 |
| Shares Dilution (1Y) | 0.20% |
| Earnings/Share (TTM) | 6.64 |
Financial Health | |
|---|---|
| Current Ratio | 1.9 |
| Debt/Equity | 0.00 |
Technical Indicators | |
|---|---|
| RSI (14d) | 23.92 |
| RSI (5d) | 0.00 |
| RSI (21d) | 31.49 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Buy |
| SharesGuru Signal | Sell |
| RSI Signal | Buy |
| RSI5 Signal | Buy |
| RSI21 Signal | Hold |
| SMA 5 Signal | Sell |
| SMA 10 Signal |
Summary of V-Guard Industries's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
The management of V-Guard Industries provided an outlook reflecting modest growth expectations for the upcoming quarters due to challenging market conditions. They reported consolidated net revenue for Q2 FY '26 at INR 1,340 crores, marking a 3.6% growth year-over-year. The Electronics segment grew by 5.3% year-over-year, while Electricals saw a 4.7% increase, and Consumer Durables grew by only 1%. Management highlighted that weak demand and adverse weather conditions, particularly higher-than-average rainfall, impacted both sales and inventory management.
A significant forward-looking point mentioned is the anticipated improvement in demand following reforms introduced with GST 2.0, which are expected to facilitate better consumption. The management has "noted that achieving the previously targeted 15% growth for the year is unlikely" but expressed hope for better performance in H2.
Key financial figures include:
Management is also focusing on expanding its manufacturing capabilities, particularly in the battery segment, and expects to achieve 70-80% in-house battery production capacity over the next two years.
Looking toward future categories like Solar and new product launches, they anticipate competitive growth, while acknowledging that margin improvements in certain segments may require time to actualize. The strategic goal remains to grow revenue by approximately 14-15% annually in the long term, with a positive view on the impact of newly introduced products and greater market penetration outside Southern India.
Understand V-Guard Industries ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| Mithun Kochouseph Chittilappilly | 19.8% |
| Arun K Chittilappilly | 8.66% |
| Chittilappily Thomas Kochouseph | 8.42% |
| Sbi Small Cap Fund | 7.36% |
| Icici Prudential Multi-Asset Fund | 6.99% |
| Anekha Chittilappilly Trust(Mithun Kochouseph Chittilappilly, Joshna Johnson Thomas-Trustees) | 4.88% |
Detailed comparison of V-Guard Industries against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| POLYCAB | Polycab India | 1.07 LCr | 27.23 kCr | +0.60% | +6.80% | 43.52 | 4.32 | - | - |
| HAVELLS | Havells India | 89.45 kCr | 21.96 kCr |
Comprehensive comparison against sector averages
VGUARD metrics compared to Consumer
| Category | VGUARD | Consumer |
|---|---|---|
| PE | 45.61 | 58.07 |
| PS | 2.34 | 2.22 |
| Growth | 6.3 % | 3.8 % |
V-Guard Industries Limited manufactures and sells electrical and electronic products in India and internationally. It operates through three segments: Electronics, Electrical, and Consumer Durables. The Electronics segment offers voltage stabilizers; inverter, DUPS, inverter batteries, and UPS; and solar panels, solar batteries, off grid systems and inverters, and on grid photovoltaic (PV) inverters. The Electrical segment offers wiring and industrial cables, domestic switch gears and distribution boards, domestic and agriculture pumps, and modular switches. The Consumer Durables Segment includes storage, solar, instant, and gas water heaters, as well as immersion heater, rods and room heaters; heat pump water heaters; ceiling, table, pedestal, wall, and ventilating and exhaust fans; and kitchen appliances, such as mixer grinders, induction cooktops, gas stoves, rice cookers, grill kings, toasters, kettles, chimneys, sandwich makers, and hand blenders. In addition, the company provides air coolers, electric motors, and water purifiers. The company sells its products through a network of distributors, dealers, and service centers. V-Guard Industries Limited was founded in 1977 and is based in Kochi, India.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Sell |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
VGUARD vs Consumer (2021 - 2026)
Question: "Can you give more colour on the kind of growth that the Stabilizer and the Inverter segments would have seen? Would the Stabilizer category have seen a decline this quarter because of AC season?"
Answer: Yes, overall revenues for the Stabilizer segment have declined due to a drop in demand for Air Conditioner Stabilizers. We had a strong previous year, so this quarter did not perform as well. However, our Inverter and Solar business saw decent growth. The gross margin drop was largely due to product mix and operational factors related to capacity utilization.
Question: "What is the status of the backward integration efforts in terms of extending our Battery manufacturing facility for the Inverters?"
Answer: We've initiated Phase 1 of battery manufacturing and currently operate at 40%-50% capacity regarding sales. Over the next two years, we plan to increase this to 70%-80%, which should improve margins as we achieve operating leverage and scale.
Question: "With respect to the Electricals segment, did the Pump category see a decline during this quarter?"
Answer: The Pump business was flat during this quarter, largely due to the strong monsoon positively impacting the water table and reducing the need for replacements. Overall growth in the Electricals segment was hampered by the strong monsoon affecting construction activities.
Question: "Regarding Sunflame, what is the outlook for margin improvement?"
Answer: The Sunflame margins were low last year due to transition costs, and we expect them to improve over time. In 2 to 3 years, we anticipate reaching an EBIT margin of about 12%. Current improvements are due to better management of costs and integration efficiencies.
Question: "Can you break down Consumer Durables and how demand for Fans is holding up?"
Answer: We do not provide specific breakdowns, but Fans and Water Heaters drive the bulk of this segment. Demand has been challenged this quarter due to the adverse weather conditions impacting sales. We anticipate an uptick as we enter Q3 and the winter season.
Question: "How do you see distribution expansion contributing to growth, especially in Maharashtra?"
Answer: We recognize our under-penetration in non-South regions, accounting for about 50% of our revenue. We aim to add around 5,000 partners annually and target a revenue contribution of 60% from non-South markets over the next four years.
Question: "On the Electronics side, what is the steady-state margin expectation?"
Answer: We expect normative margins in the Electronics segment to hover between 17%-18%. While factors like product mix can influence this, our backward integration efforts have played a significant role in achieving this stability.
Question: "How do you see the benefit of GST cuts on prices affecting sales moving forward?"
Answer: We have passed on GST reductions, particularly on segments like Batteries and Solar. However, the impact may not significantly benefit sales as we've adjusted our pricing strategies accordingly.
Question: "What are your expectations for capex in the coming years?"
Answer: We project capex to be between INR120-130 crores for this and next year, focusing on a new Research and Innovation Centre, a Fan factory, and potentially a Battery factory, along with investments in molds and dyes.
Question: "Can you share insights on the overall festive season demand?"
Answer: The festive season this year has been tepid, affected by weather conditions impacting summer categories. We saw mixed results in demand, with Kerala performing better due to prior festivities, while other regions faced challenges. We are cautiously optimistic for Q3 based on potential winter-related sales uptick.
| K Chittilappilly Trust (Kochouseph Thomas Chittilappilly,Sheela Grace Kochouseph,Mithun Kochouseph Chittilappilly,Arun K Chittilappilly,Jayaraj B , Vinod SM, Jayasree K-Trustees) |
| 4.77% |
| Arav Chittilappilly Trust (Kochouseph Chittilappilly, Sheela Grace Kochouseph,Arun K Chittilappilly,Priya Sarah Cheeran Joseph-Trustees) | 4.25% |
| Nalanda India Equity Fund Limited | 3.61% |
| Aditya Birla Sun Life Trustee Private Limited A/C Aditya Birla Sun Life Flexi Cap Fund | 2.91% |
| Priya Sarah Cheeran Joseph | 2.63% |
| Sheela Grace Kochouseph | 2.51% |
| Canara Robeco Mutual Fund A/C Canara Robeco Small Cap Fund | 1.7% |
| Nalanda India Fund Limited | 1.42% |
| C T John | 0% |
| Achamma Chacko | 0% |
| Sr.Susheela | 0% |
| Sr.Ancilla | 0% |
| Mariamma Papoo | 0% |
| Alice George | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
| +2.10% |
| -8.50% |
| 61.13 |
| 4.07 |
| - |
| - |
| BLUESTARCO | Blue Star | 37.14 kCr | 12.29 kCr | -1.10% | -6.60% | 68 | 3.02 | - | - |
| CROMPTON | Crompton Greaves Consumer Electricals | 16.18 kCr | 7.81 kCr | +0.80% | -30.40% | 34.18 | 2.07 | - | - |
| BAJAJELEC | Bajaj Electricals | 5.01 kCr | 4.79 kCr | -9.30% | -40.60% | 48.57 | 1.05 | - | - |
| -8.2% |
| 1,261 |
| 1,373 |
| 1,424 |
| 1,195 |
| 1,213 |
| 1,352 |
| Profit Before exceptional items and Tax | -13.4% | 85 | 98 | 118 | 79 | 85 | 132 |
| Total profit before tax | -13.4% | 85 | 98 | 118 | 79 | 85 | 132 |
| Current tax | -16.7% | 21 | 25 | 28 | 19 | 21 | 33 |
| Deferred tax | -33.9% | -1.45 | -0.83 | -1.18 | -0.18 | 0.14 | 0.86 |
| Total tax | -17.4% | 20 | 24 | 27 | 19 | 21 | 33 |
| Total profit (loss) for period | -12.3% | 65 | 74 | 91 | 60 | 63 | 99 |
| Other comp. income net of taxes | - | 0 | 0 | -3.14 | 0 | 0 | 0 |
| Total Comprehensive Income | -12.3% | 65 | 74 | 88 | 60 | 63 | 99 |
| Earnings Per Share, Basic | -29% | 1.49 | 1.69 | 2.08 | 1.38 | 1.45 | 2.26 |
| Earnings Per Share, Diluted | -29.4% | 1.48 | 1.68 | 2.07 | 1.37 | 1.44 | 2.25 |
| Debt equity ratio | - | 0 | 0 | 001 | 0 | 0 | 011 |
| Debt service coverage ratio | 1.4% | 0.1147 | 0.102 | 0.043 | 0.02 | 0.02 | 0.017 |
| Interest service coverage ratio | 22.3% | 0.4094 | 0.2401 | 0.4736 | 0.09 | 0.09 | - |
| 27.1% |
| 479 |
| 377 |
| 295 |
| 267 |
| 225 |
| 207 |
| Finance costs | -47.2% | 20 | 37 | 16 | 7.52 | 5.6 | 3.73 |
| Depreciation and Amortization | 10.6% | 74 | 67 | 58 | 48 | 37 | 28 |
| Other expenses | 19.6% | 825 | 690 | 574 | 462 | 319 | 364 |
| Total Expenses | 15.5% | 4,980 | 4,310 | 3,823 | 3,198 | 2,435 | 2,261 |
| Profit Before exceptional items and Tax | 15.7% | 348 | 301 | 241 | 290 | 285 | 245 |
| Total profit before tax | 15.7% | 348 | 301 | 241 | 290 | 285 | 245 |
| Current tax | 21.4% | 86 | 71 | 36 | 69 | 86 | 65 |
| Deferred tax | 119.9% | 1.33 | -0.66 | 26 | -5.76 | -0.62 | -4.47 |
| Total tax | 26.1% | 88 | 70 | 62 | 63 | 86 | 60 |
| Total profit (loss) for period | 12.6% | 260 | 231 | 179 | 227 | 199 | 185 |
| Other comp. income net of taxes | -10.2% | -2.99 | -2.62 | 20 | -0.55 | 0.45 | -2.26 |
| Total Comprehensive Income | 12.8% | 257 | 228 | 199 | 226 | 199 | 183 |
| Earnings Per Share, Basic | 15.7% | 5.95 | 5.28 | 4.15 | 2.1 | 4.64 | 4.33 |
| Earnings Per Share, Diluted | 15.2% | 5.92 | 5.27 | 4.12 | 2.09 | 4.61 | 4.28 |
| Debt equity ratio | -0.2% | 001 | 016 | 026 | 001 | 001 | 001 |
| Debt service coverage ratio | 0.8% | 0.0228 | 0.0151 | 0.019 | 02 | 028 | 047 |
| Interest service coverage ratio | - | 0.1846 | - | 0 | 04 | 051 | 067 |
| 2.3% |
| 352 |
| 344 |
| 339 |
| 333 |
| 336 |
| 341 |
| Capital work-in-progress | 59.6% | 76 | 48 | 27 | 24 | 19 | 12 |
| Investment property | 0% | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 |
| Non-current investments | 0% | 889 | 889 | 889 | 889 | 869 | 33 |
| Loans, non-current | 80% | 1.09 | 1.05 | 1.03 | 0.84 | 0.98 | 0 |
| Total non-current financial assets | 0.1% | 909 | 908 | 907 | 907 | 889 | 54 |
| Total non-current assets | 2.2% | 1,487 | 1,455 | 1,423 | 1,404 | 1,374 | 1,382 |
| Total assets | -1.3% | 3,001 | 3,039 | 2,934 | 2,886 | 2,714 | 2,715 |
| Borrowings, non-current | - | 0 | 0 | 22 | 137 | 206 | 273 |
| Total non-current financial liabilities | -6.5% | 44 | 47 | 68 | 185 | 289 | 364 |
| Provisions, non-current | 12.5% | 19 | 17 | 16 | 15 | 15 | 14 |
| Total non-current liabilities | -1.6% | 63 | 64 | 84 | 200 | 304 | 377 |
| Borrowings, current | -35.1% | 7.49 | 11 | 124 | 154 | 88 | 147 |
| Total current financial liabilities | -15.2% | 682 | 804 | 806 | 760 | 626 | 634 |
| Provisions, current | 6.2% | 103 | 97 | 83 | 82 | 66 | 62 |
| Current tax liabilities | - | 0 | - | 3.81 | 2.27 | 3.33 | 0 |
| Total current liabilities | -11.5% | 864 | 976 | 993 | 918 | 766 | 750 |
| Total liabilities | -10.9% | 928 | 1,041 | 1,077 | 1,118 | 1,070 | 1,127 |
| Equity share capital | 0% | 44 | 44 | 44 | 43 | 43 | 43 |
| Total equity | 3.8% | 2,073 | 1,998 | 1,856 | 1,768 | 1,645 | 1,588 |
| Total equity and liabilities | -1.3% | 3,001 | 3,039 | 2,934 | 2,886 | 2,714 | 2,715 |
| 26 |
| 2.02 |
| 0 |
| 16 |
| - |
| - |
| Net Cashflows from Operations | 27.7% | 536 | 420 | 462 | 52 | - | - |
| Income taxes paid (refund) | 32.4% | 91 | 69 | 46 | 87 | - | - |
| Net Cashflows From Operating Activities | 26.9% | 444 | 350 | 416 | -34.79 | - | - |
| Cashflows used in obtaining control of subsidiaries | - | 0 | 0 | 731 | 60 | - | - |
| Proceeds from sales of PPE | - | 0.76 | 0 | 1.52 | 0 | - | - |
| Purchase of property, plant and equipment | 22.9% | 103 | 84 | 53 | 77 | - | - |
| Proceeds from sales of investment property | -138.1% | 0 | 0.58 | 0 | 0.09 | - | - |
| Cash receipts from repayment of advances and loans made to other parties | - | 0 | 0 | 0 | 1.05 | - | - |
| Dividends received | -105% | 0 | 21 | 0 | 0 | - | - |
| Interest received | 138.1% | 1.16 | 0.58 | 1.71 | 0 | - | - |
| Other inflows (outflows) of cash | 149.4% | 24 | -45.57 | 6.03 | 3.67 | - | - |
| Net Cashflows From Investing Activities | 27.8% | -77.25 | -107.32 | -774.15 | -132.43 | - | - |
| Proceeds from exercise of stock options | 37.5% | 8.04 | 6.12 | 2 | 4.56 | - | - |
| Repayments of borrowings | 116.3% | 280 | 130 | -409.61 | 0 | - | - |
| Payments of lease liabilities | 21.4% | 18 | 15 | 11 | 0 | - | - |
| Dividends paid | 9.1% | 61 | 56 | 56 | 52 | - | - |
| Interest paid | -42.9% | 21 | 36 | 16 | 0 | - | - |
| Other inflows (outflows) of cash | - | 0 | 0 | 0 | -5.88 | - | - |
| Net Cashflows from Financing Activities | -60.4% | -372.24 | -231.66 | 328 | -60.05 | - | - |
| Net change in cash and cash eq. | -160% | -5 | 11 | -29.8 | -227.27 | - | - |
Analysis of V-Guard Industries's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Sep 30, 2025
| Description | Share | Value |
|---|---|---|
| Electricals | 42.0% | 562.6 Cr |
| Consumer Durables | 29.5% | 396.1 Cr |
| Electronics | 23.8% | 319.1 Cr |
| Sunflame | 4.7% | 63.1 Cr |
| Total | 1.3 kCr |