V-Guard Industries Ltd. share price target

Post demonetisation, V-Guard posted strong revenue growth of 21% led by strong sale growth of stabilisers, inverters, pumps and wire & cable segments, to 25%, 29%, 24% and ~21% YoY, respectively. Revenue from the non-south region recorded strong growth of ~31% YoY. The company also launched its smart series inverter, which is controlled by an intuitive smart phone app The rise in raw material coupled with a delay in passing on prices led to a contraction in gross margin by ~190 bps YoY. In addition, one...

V-Guards 4QFY17 revenue grew by a strong 21% (17% volume growth) to Rs 6.2bn (est 16% growth). V-Guard?s revenue recovery was encouraging, as 3QFY17 revenue growth was only 10% owing to the demonet impact. Cables & Wires, Stabilizers, Pumps and Fans (80% of business) registered robust growth of 21%, 25%, 24% and 14% respectively.

V-Guards 3QFY17 revenues grew by 10.4% YoY to Rs 4.6bn ? ahead of our expectation of 5% growth. EBITDA & APAT was up by 11% & 30%. V-Guard has delivered such an encouraging performance during tough times. It has increased our confidence on V-Guard?s core competence.

We arranged investor meetings for V-Guard. Our confidence in long term business trajectory has improved, despite the near term tremors caused by demonetisation. The company is confident of achieving 15% revenue growth in FY17 with 11% EBITDA margin. However, we are factoring 13.5% sales growth for FY17 as demonetisation has impacted the overall retail demand.

ICICI Securities Ltd | Retail Equity Research V-Guard reported a strong Q2FY17 performance with revenues and earnings growth of ~14% and ~71% YoY, respectively. Growth has been broad-based across all product categories driven by better market conditions and good response during Onam. Stabilisers, water heater and pump segments, recorded sales growth of 15%, 25% and 20% YoY, respectively. Realisation of the cable & wire segment remained subdued due to a decline in commodity prices....

V-Guard Industries (V-Guard) reported impressive 1QFY17 revenue growth ( 15.3% YoY at Rs 5.7bn, in line with our estimates) owing to a hot summer. Gross margins expanded ( 301bps to 30.9%) aided by RM tailwinds. EBITDA growth ( 46.7%) was healthy, with 243bps YoY gains in EBITDA margin at 11.1%.

Motilal Oswal values your support in All-round performance impressive; growth outlook positive the Asiamoney Brokers Poll 2016 for Revenue growth across segments: V-Guard Industries (VGRD) reported revenues India Research, Sales and Trading...

V-Guard reported a strong Q1FY17 performance with revenues and earnings growth of 15% and 70% YoY, respectively. This was on the back of strong growth in the stabilisers pump and fans segments, up 22%, 32%, 20% YoY, respectively, which are directly linked to the severe summer this year. Realisation of the cable & wire segment remained subdued due to a decline in commodity prices. The south...