Other electrical equipment/products company V-Guard Industries announced consolidated Q1FY24 results: Net revenue from operations for Q1FY24 is Rs 1,214.76 crore, a growth of 19.3% over the revenue recorded in Q1FY23 of Rs 1,018.29 crore. Profit after tax for Q1FY24 is Rs 64.22 crore, a growth of 20.3% as against Rs 53.37 crore recorded in Q1FY23. Commenting on the company's performance, Mithun. K. Chittilappilly, Managing Director, V-Guard Industries, said, "The business has delivered a strong topline growth in Q1. The growth has been broad-based across all three segments. While the North region was somewhat impacted by unfavourable weather conditions, the other regions returned a strong performance. The impact of softening in commodity prices has started reflecting in gross margins with gradual improvement over the last few quarters. We expect further improvement to reflect in coming quarters. Inventory levels have come back to normal and this has helped generate a strong cash flow. We look forward to the upcoming festive season and are hopeful to sustain the growth momentum during the quarters ahead." Result PDF
Conference Call with V-Guard Industries Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Electrical/Equipment Products company V-Guard Industries announced Q4FY23 & FY23 results: Consolidated Net Revenue from operations for Q4FY23, is Rs 1,140.14 crore; a growth of 7.6% over the revenue recorded in Q4FY22 (Rs 1,059.17 crore). Consolidated Profit After Tax for Q4FY23 is Rs 52.73 crore as against Rs 89.58 crore in Q4FY22 Consolidated Net Revenue from operations for FY23 is Rs 4,126.04 crore; a growth of 17.9% over the revenue recorded in FY22 (Rs 3,500.19 crore). Consolidated Profit After Tax for FY23 is Rs 189.05 crore as against Rs 228.44 crore in FY22 Commenting on the company's performance, Mithun. K. Chittilappilly, Managing Director, VGuard Industries said, "During the year, the Electronics and Durables segments registered strong topline growth. We are making sustained progress towards achieving scale in key Durables categories. Non-South regions grew by 26%, thereby contributing 45% of the overall company revenues. We are seeing improvements in margins as the effect of a slight softening of input costs is being felt. We expect margins to further improve in the coming year. During Q4FY23, we completed the acquisition of Sun/lame and the merger of Simon. Work relating to business integration is ongoing. These M&As; are a good strategic fit to V-Guard with multiple levers for synergy benefits." Result PDF
Electrical equipment firm V-Guard Industries announced Q3FY23 results: Consolidated Q3FY23 & 9MFY23: Net revenue from operations for Q3FY23 is Rs 980.84 crore a growth of 1.4% over the revenue recorded in the corresponding period of the previous year (Rs 967.57 crore). Profit after tax for the quarter is Rs 39.29 crore as against Rs 53.92 crore in the corresponding period of the previous year. Net revenue from operations for 9MFY23 is Rs 2,985.90 crore; a growth of 22.3% over the revenue recorded in the corresponding period of the previous year (Rs 2,441.02 crore). Profit after tax for 9MFY23 is Rs 136.32 crore as against Rs 138.86 crore in the corresponding period of the previous year. Commenting on the company's performance, Mr. Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said "Turnover growth for Q3 was 1.4% YoY due to a high base, while the CAGR for the past three years is at 15.8%. The Durables segment continues to grow well. We are making sustained progress in growing the business in the non-south markets. Our A&P; spends have returned to normal levels after two years of lower spending during Covid. Margins are still lower than pre-Covid levels especially in Durables, as were holding more than normal inventories at a higher cost. With inventory levels have come down, we should see margins reverting to pre-Covid levels in the next 1- 2 quarters." Result PDF
Conference Call with V-Guard Industries Management and Analysts on its acquisition of Sunflame Enterprises. Listen to the full transcript.