V-Guard Industries Ltd. share price target

Background V-Guard Industries (VGIL) was started in 1977 by Mr.Kochouseph Chittilappily to manufacture and market Voltage Stabilizers under the brand name V-Guard. VGIL emerged as a leading player in the stabilizer segment and became a household brand. V-Guard began to aggressively diversify from 1992 and became a multi product company with presence in Stabilizers, Pumps, Cables, UPS, Water Heaters, Fans, Switch Gear,...

V-Guard Industries Limited - VGUARD channel checks in key non-south and south markets for stabilizers (20% of FY16 revenue), fans (10% of revenue) and wires (32% of revenue) indicate that stabilizers and fans are seeing strong growth expecting stabilizers to grow ~24% and fans to grow 45% in FY17. Efficient inventory management, reduced discounts and promotion schemes, lower ad spends, and benign commodity prices could lead to a margin uptick in 1QFY17. They upgrade EBITDA estimates by 6% for FY17 and by 5% for FY18, translating into PAT upgrade of 8% for FY17 and 6% for FY18. Motilal Oswal expect revenue CAGR of 17% and PAT CAGR of 28% over FY16-18, with margins expanding 90bp to 10.5%. Maintain Neutral with a TP of INR1,570 (26x FY18E EPS).

Trendlyne has 7 reports on VGUARD updated in the last year from 4 brokers with an average target of Rs 1229.5. Brokers have a rating for VGUARD with 2 price upgrades in past 6 months.

ICICI Securities Ltd | Retail Equity Research V-Guard reported a strong performance in Q4FY16 with revenues and earnings growth of 16% and 109% YoY, respectively. This was...

Stabilizers and fans category lead the growth: V-Guard Industries (VGRD) reported revenue of INR5.1b (vs. our estimate of INR4.9b) in 4QFY16, up 16.2% YoY, led by a strong growth in summer products like stabilizers (up 26% YoY to...

Key highlights: Lower copper prices (down 12% yoy), and the resultant pass through to channelpartners,sawVGIlowerpricesonathirdofitsproductprofile(wiresandcables). However, it retained some of the benefits of softer commodity prices and undertook...

Background V-Guard Industries (VGIL) was started in 1977 by Mr.Kochouseph Chittilappily to manufacture and market Voltage Stabilizers under the brand name V-Guard. VGIL emerged as a leading player in the stabilizer segment and became a household brand. V-Guard began to aggressively diversify from 1992 and became a multi product company with presence in Stabilizers, Pumps, Cables, UPS, Water Heaters, Fans, Switch Gear,...

Key highlights: Lower copper prices (down 12% yoy), and the resultant pass through to channelpartners,sawVGIlowerpricesonathirdofitsproductprofile(wiresandcables). Retention of some of the benefits of softer commodity prices and selective price hikes in...

Background V-Guard Industries (VGIL) was started in 1977 by Mr.Kochouseph Chittilappily to manufacture and market Voltage Stabilizers under the brand name V-Guard. VGIL emerged as a leading player in the stabilizer segment and became a household brand. V-Guard began to aggressively diversify from 1992 and became a multi product company with presence in Stabilizers, Pumps, Cables, UPS, Water Heaters, Fans, Switch Gear,...

Healthy product mix to stabilize revenues: The company offers a wide range of products such as stabilizers, standalone UPS, digital UPS, pumps, housing wire cables, LT cables, electric water heaters, fans, solar water heaters etc. The stabilizer segment, which is the flagship product of the company, has seen a growth of 22.7% contributing 18.7% to revenues. Digital UPS and electric water heater segments have grown by 33% and 30% respectively there by contributing to 11% and 10% to revenues. However, the standalone UPS, pump segment and LT cables have seen a fall in growth of 30%, 6.5% & 23% respectively. We expect the trend to continue in these segments in years to come.