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.
Electronic equipment manufacturing company V-Guard Industries announced Q2FY23 results: Consolidated Net Revenue from operations for the quarter ended September 30, 2022 is Rs. 986.14 crore; a growth of 8.7% over the revenue recorded in the corresponding period of the previous year (Rs. 907.40 crore). Consolidated Profit After Tax for the quarter is Rs. 43.66 crore as against Rs.59.40 crore in corresponding period of the previous year Mr. Mithun. K. Chittilappilly, Managing Director, VGuard Industries Ltd said "Turnover in Q2 grew 8.7% on a high base, recording a CAGR of 16.5% over the last three years. Durables segment witnessed a strong growth. Margins for the quarter were impacted by safe of higher cost Wires inventory at relatively lower realizations due to fall in copper prices. Even in the other categories, input costs remain significantly higher than long term averages, despite some reduction seen in the last few months. We should see margins returning to pre-Covid levels over the next two quarters." Result PDF