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V-Guard Industries Ltd

Q2 FY26Consumer Durables

V-Guard Industries Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹288
Market cap₹12.6K Cr
P/E33.0
Updated16 Oct 2026
Read4 min read

The short version

V-Guard initially targeted ~15% annual growth but acknowledges this is unlikely for the current year due to challenges and a high base in H1 (Page 8). V-Guard aims for a long-term revenue growth of around 14%-15% annually but acknowledges current challenges making this year's 15% growth unlikely (Page 13).

From V-Guard Industries Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

  • V-Guard initially targeted ~15% annual growth but acknowledges this is unlikely for the current year due to challenges and a high base in H1 (Page 8).
  • Hopeful for better growth in H2; definitive outlook will be clearer post Q3 (Page 8).
  • Long-term growth aim of 14%-15% annually remains intact, including new segments like Solar Pumps, Solar Rooftop, and Lighting (Page 12).
  • B2C remains the focus, though B2B opportunities in Solar Rooftops, Solar Pumps, and Wires/Cables represent significant potential; currently exploring capabilities for B2B expansion (Page 11-12).
  • Water Heater demand expected to pick up in Q3, especially if winter is colder, boosting seasonal sales (Page 16).

2 more points from V-Guard Industries Ltd's call on revenue

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Profitability & Margins

See what V-Guard Industries Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Capex planned between INR 120 crores to INR 130 crores for the current and next year.
  • Investment focus includes:
  • New Research and Innovation Centre.
  • Two new factories: a Fan factory this year and a Battery factory next year.
  • Moulds and dies for manufacturing.
  • Expansion of backward integration with Battery manufacturing facility:
  • Current capacity catering to 40%-50% of sales.
  • Plans to increase capacity to 70%-80% over the next 2 years.

2 more points from V-Guard Industries Ltd's call on capex

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Top-ranked in Consumer Durables

Ranked on what management guided this quarter

Guidance-ranked
1Nanta Tech
Rev 1Mar 1
2Visdem Technosys
Rev 1Mar 1
3
Rev 1Mar 2
4
Rev 1Mar 2
5
Rev 1Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what V-Guard Industries Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Relevant points related to demand and inventory that might relate indirectly include: - Challenges with inventory clearing in dealer networks impacted volume growth (Page 16). - High trade inventories in some summer categories potentially affecting stocking and sales (Page 16).

2 more points from V-Guard Industries Ltd's call on order book

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V-Guard Industries Ltd — Quarterly revenue & net profit

Revenue Net profit
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26
Jun 2026Q1 FY27
Sep 2026Q2 FY27

Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹1.9K Cr, net profit ₹112 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What V-Guard Industries Ltd's management said in earlier quarters

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Frequently Asked Questions

What were V-Guard Industries Ltd Q2 FY26 results?

V-Guard initially targeted ~15% annual growth but acknowledges this is unlikely for the current year due to challenges and a high base in H1 (Page 8). V-Guard aims for a long-term revenue growth of around 14%-15% annually but acknowledges current challenges making this year's 15% growth unlikely (Page 13).

What is V-Guard Industries Ltd share price analysis?

V-Guard Industries Ltd currently shows a neutral. The stock trades at a P/E of 33.0 with a market cap of ₹12,559 Cr. Investors should review the full earnings analysis for detailed insights.

Is V-Guard Industries Ltd planning capital expenditure?

Capex planned between INR 120 crores to INR 130 crores for the current and next year.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.