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V-Guard Industries Q2 FY27 Share Price & Earnings Call Analysis

₹284.85+7.90% today
Market cap
₹12,428 Cr
P/E
32.71
ROE
14.39%
PEG
1.62
Price to sales
1.97
Debt to equity
0.07
52W high / low
₹383 / ₹262
Sales growth (5Y)
17.00%
EBITDA margin
9.42%
Net profit margin
5.39%
Promoter holding
53.22%
Sales (last year)
₹6,310 Cr

Founded in 1977, V-Guard Industries Ltd. (‘V-Guard’) is a reputed Indian company manufacturing innovative and experiential products in the categories of Electronics, Electricals and Consumer Durables. It has grown from being a brand synonymous with voltage stabilizers across South India, to a brand offering a wide array of thoughtfully engineered products to consumers across the length and breadth of the country. Underpinned by its continuous quest to enrich consumer lives and power a stronger tomorrow. [1]

Guidance scorecard · Q2 FY27 call

What V-Guard Industries Ltd's management guided
and where it ranks in Consumer Durables

#59of 86 in
Consumer Durables
Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • V-Guard targets overall sales growth of around 15% annually as a medium-term target, with FY27 potentially exceeding this due to price growth and volume recovery.
  • Typical growth comprises 2-3% price growth and 10-12% volume growth in normal conditions.
  • After an unusual inflationary period affecting volumes, recent volume growth was about 9%, affected by high price hikes causing some customer postponement.
  • Volume growth is expected to normalize to around 10-12% over the longer term.
  • Ex-wires portfolio (Electricals excluding wires) is growing at a high double-digit rate.
  • Solar rooftop business and adjacent categories (like battery energy storage) are fast-growing, contributing to future growth.

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

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

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

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Capex guidance is around INR 150-170 crores annually for the next two years, lower than the previous INR 2 to 2.5 billion guidance.
  • Investments continue in building organizational capabilities, technology, systems, and processes to scale operations.
  • Focus on manufacturing and insourcing efforts to improve gross margins and cost efficiencies.
  • Battery Energy Storage Systems (BESS) identified as a significant future opportunity.

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

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

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

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • There is no direct reference to order book size, backlog, or pending orders status in the Q&A or management commentary.
  • Discussions focus mainly on volume growth, pricing, category performance, capex, and market dynamics.
  • Some reference to demand volatility, postponement of projects (especially in wires) due to high price inflation.
  • Management emphasizes growth outlook and category-specific trends without quantitative order book disclosures.
Full Q1 FY27 analysis
Full Consumer Durables ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Consumer Durables
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does V-Guard Industries Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Consumer Durables companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹166 Cr20.3
240%+Up 2%+₹100 Cr12.7
340%+Up 0–2%₹3,249 Cr17.4
440%+Up 0–2%₹2,081 Cr18.8
540%+Flat₹2,429 Cr41.1
640%+Flat₹2,163 Cr25.6

Sign up free to see every company in the sector ranking and track V-Guard Industries Ltd.

Pro shows every company guiding 40%+ revenue growth →Full Consumer Durables ranking

Financials of V-Guard Industries Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

V-Guard Industries Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +54.56%54.48%54.42%54.40%54.36%54.30%54.28%53.33%53.28%53.22%53.22%53.22%
FIIs +13.01%13.34%13.90%13.85%13.72%13.43%12.55%12.45%12.12%12.07%12.01%13.02%
DIIs +20.45%20.18%20.16%19.88%20.25%20.63%21.61%22.86%23.32%23.39%23.24%21.62%
Public +11.96%11.99%11.51%11.88%11.69%11.64%11.55%11.35%11.27%11.32%11.52%12.14%
No. of Shareholders1,18,2761,19,5621,15,8231,40,4171,32,0031,32,9481,33,0001,32,8411,30,2181,33,2571,33,3761,36,486

Financials of V-Guard Industries Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +1,1341,1651,3431,4771,2941,2691,5381,4661,3411,4041,7551,8111,853
Expenses +1,0411,0641,2151,3211,1841,1651,3951,3421,2321,2801,5851,6201,685
Operating Profit92102128156110104143124109123171191168
OPM %8%9%10%11%9%8%9%8%8%9%10%11%9%
Other Income +1435745455-1681214
Interest99109863423333
Depreciation20192222222527262727282829
Profit before tax78761011328579118988577147172150
Tax %24%24%24%25%25%24%23%25%23%26%24%24%25%
Net Profit +59587699636091746557112130112
EPS in Rs1.361.341.752.281.461.382.091.691.501.312.572.982.56

Financials of V-Guard Industries Ltd

Profit & Loss

Annual income statement trend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +2,0862,3262,5942,5032,7213,5004,1274,8575,5785,9666,822
Expenses +1,8762,1352,3692,2442,4093,1593,8074,4295,0645,4396,170
Operating Profit210191225259312341320428514527653
OPM %10%8%9%10%11%10%8%9%9%9%10%
Other Income +121020242010163320117
Interest2224681640251212
Depreciation162023293949648196108111
Profit before tax204180220250288294256340414408546
Tax %29%25%23%25%30%22%26%24%24%24%
Net Profit +145135168188202228189258314308411
EPS in Rs3.413.153.924.374.675.284.385.937.207.069.42
Dividend Payout %21%22%20%21%26%25%30%24%21%21%

Financials of V-Guard Industries Ltd

Balance Sheet

Capital structure and asset base

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital4243434343434343444444
Reserves5927078579531,1681,3641,5641,7712,0542,3292,519
Borrowings +6714136968503401134165160
Other Liabilities +2944144584475946327889361,0981,1601,553
Total Liabilities9341,1711,3721,4551,8752,1072,8993,1523,3293,6984,276
Fixed Assets +1692182312843704631,2471,3341,3741,5241,525
CWIP10786720172737492155
Investments8975833633333410181276532
Other Assets +6668701,0501,0681,4521,5931,5911,6791,8251,8772,164
Total Assets9341,1711,3721,4551,8752,1072,8993,1523,3293,6984,276

Financials of V-Guard Industries Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +13052156141222-37424393477459
Cash from Investing Activity +-106-25-51-11241-121-771-153-97-364
Cash from Financing Activity +-16-37-25-91-6-62326-232-378-98
Net Cash Flow8-1080-62257-220-2183-3
Free Cash Flow881110357158-161323265357279
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit93%49%93%85%95%15%148%111%114%107%

Financials of V-Guard Industries Ltd

Ratios

Working capital efficiency and return ratios

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days55716547525049453533
Inventory Days687176105124130979210298
Days Payable54767367946962626771
Cash Conversion Cycle686668858311285757060
Working Capital Days58706574718855414339
ROCE %26%26%26%26%22%15%18%20%18%

Guidance history

How V-Guard Industries Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlanned——
Q4 FY26 call →10–20%FlatPlanned——
Q3 FY26 call →10–20%FlatPlanned——
Q2 FY26 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

16out of 100

Momentum score · price trend

16 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−25.5%30%
Last 6 months−13.7%30%
Last 3 months−10.0%40%

The price is 45.7% below its all-time high of ₹524.15 (16 Aug 2024). Stocks more than 20% below their peak have their score halved, so 32 became 16.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For V-Guard Industries Ltd: 0.4 × 30 + 0.4 × 30 + 0.2 × 40 = 32, halved to 16 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

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

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