VGUARD
V-Guard Industries Limited
V-Guard Industries Limited (VGUARD) financial statements and selected valuation metrics through 30 June 2026.
Consumer Discretionary›Consumer Durables›Consumer Durables›Household Appliances
vguard.in(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹287.60
Market cap
12,613 Cr
Stock P/E
34.6
P/B
5.31
Dividend yield
0.5%
ROE (FY26)
13.0%
ROCE (FY26)
17.6%
Operating margin (FY26)
7.0%
Debt / equity (FY26)
0.0037
OCF / EBITDA (FY26)
87.1%
OCF / EBITDA (3Y)
90.6%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
V-Guard makes and sells electronics, electricals and consumer durables for Indian homes, including voltage stabilisers, UPS systems, solar power systems, wires, switchgear, pumps, fans, water heaters and kitchen appliances, through distributors and retailers.
Company snapshot
6thBy market cap
Ranked among 21 companies in Household Appliances.
Segment mix
Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.
Largest segment: 37.2% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Consumer Durables | 30.6% | 1,235 Cr | 55 Cr | — |
| Electricals | 37.2% | 1,504 Cr | 141 Cr | — |
| Electronics | 27.3% | 1,102 Cr | 219 Cr | — |
| Sunflame | 4.9% | 199 Cr | 6 Cr | — |
What we see
Positives
- ✓91% of operating profit came in as cash over the last three years — profits are backed by real cash.
2 more signals from the filings.Sign in free to see them all
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,134 Cr | 1,165 Cr | 1,343 Cr | 1,477 Cr | 1,294 Cr | 1,269 Cr | 1,538 Cr | 1,466 Cr | 1,341 Cr | 1,404 Cr | 1,755 Cr | 1,811 Cr |
| Operating expenses (approx.) | 1,041 Cr | 1,064 Cr | 1,215 Cr | 1,321 Cr | 1,184 Cr | 1,165 Cr | 1,395 Cr | 1,342 Cr | 1,232 Cr | 1,280 Cr | 1,585 Cr | 1,620 Cr |
| EBITDA | 92 Cr | 102 Cr | 128 Cr | 156 Cr | 110 Cr | 104 Cr | 143 Cr | 124 Cr | 109 Cr | 123 Cr | 171 Cr | 191 Cr |
| OPM % | 8.2% | 8.7% | 9.5% | 10.5% | 8.5% | 8.2% | 9.3% | 8.4% | 8.1% | 8.8% | 9.7% | 10.5% |
| Other income | 14 Cr | 3 Cr | 5 Cr | 7 Cr | 4 Cr | 5 Cr | 5 Cr | 5 Cr | 5 Cr | 6 Cr | 8 Cr | 12 Cr |
| Interest | 9 Cr | 9 Cr | 10 Cr | 9 Cr | 8 Cr | 6 Cr | 3 Cr | 4 Cr | 2 Cr | 3 Cr | 3 Cr | 3 Cr |
| Depreciation | 20 Cr | 19 Cr | 22 Cr | 22 Cr | 22 Cr | 25 Cr | 27 Cr | 26 Cr | 27 Cr | 27 Cr | 28 Cr | 28 Cr |
| Profit before tax | 78 Cr | 76 Cr | 101 Cr | 132 Cr | 85 Cr | 79 Cr | 118 Cr | 98 Cr | 85 Cr | 77 Cr | 147 Cr | 172 Cr |
| Tax % | 24.0% | 23.6% | 24.3% | 25.2% | 25.1% | 23.5% | 22.9% | 24.8% | 23.3% | 26.2% | 23.8% | 24.2% |
| Net profit | 59 Cr | 58 Cr | 76 Cr | 99 Cr | 63 Cr | 60 Cr | 91 Cr | 74 Cr | 65 Cr | 57 Cr | 112 Cr | 130 Cr |
| EPS (₹) | ₹1.35 | ₹1.33 | ₹1.74 | ₹2.26 | ₹1.45 | ₹1.38 | ₹2.08 | ₹1.69 | ₹1.49 | ₹1.30 | ₹2.56 | ₹2.97 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,114 Cr | 2,335 Cr | 2,594 Cr | 2,503 Cr | 2,721 Cr | 3,498 Cr | 4,126 Cr | 4,857 Cr | 5,578 Cr | 5,966 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 1,906 Cr | 2,145 Cr | 2,370 Cr | 2,245 Cr | 2,409 Cr | 3,160 Cr | 3,806 Cr | 4,430 Cr | 5,065 Cr | 5,439 Cr | Sign in free for the trailing twelve months |
| EBITDA | 209 Cr | 190 Cr | 224 Cr | 258 Cr | 312 Cr | 338 Cr | 320 Cr | 427 Cr | 513 Cr | 527 Cr | Sign in free for the trailing twelve months |
| OPM % | 9.9% | 8.2% | 8.6% | 10.3% | 11.5% | 9.7% | 7.8% | 8.8% | 9.2% | 8.8% | Sign in free for the trailing twelve months |
| Other income | 13 Cr | 11 Cr | 20 Cr | 25 Cr | 21 Cr | 13 Cr | 16 Cr | 34 Cr | 21 Cr | 24 Cr | Sign in free for the trailing twelve months |
| Interest | 2 Cr | 2 Cr | 2 Cr | 4 Cr | 6 Cr | 8 Cr | 16 Cr | 40 Cr | 25 Cr | 12 Cr | Sign in free for the trailing twelve months |
| Depreciation | 16 Cr | 20 Cr | 23 Cr | 29 Cr | 39 Cr | 49 Cr | 64 Cr | 81 Cr | 96 Cr | 108 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 204 Cr | 180 Cr | 220 Cr | 250 Cr | 288 Cr | 294 Cr | 256 Cr | 340 Cr | 414 Cr | 408 Cr | Sign in free for the trailing twelve months |
| Tax % | 29.0% | 24.8% | 23.5% | 24.6% | 29.9% | 22.3% | 26.1% | 24.3% | 24.2% | 24.4% | Sign in free for the trailing twelve months |
| Net profit | 145 Cr | 135 Cr | 168 Cr | 188 Cr | 202 Cr | 228 Cr | 189 Cr | 258 Cr | 314 Cr | 308 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹3.42 | ₹3.16 | ₹3.92 | ₹4.38 | ₹4.68 | ₹5.29 | ₹4.38 | ₹5.89 | ₹7.17 | ₹7.03 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 0.0% | 22.6% | 29.7% | 21.8% | 19.5% | 21.2% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 42 Cr | 43 Cr | 43 Cr | 43 Cr | 43 Cr | 43 Cr | 43 Cr | 43 Cr | 44 Cr | 44 Cr |
| Reserves | 592 Cr | 707 Cr | 857 Cr | 953 Cr | 1,168 Cr | 1,364 Cr | 1,564 Cr | 1,771 Cr | 2,054 Cr | 2,329 Cr |
| Borrowings | 2 Cr | 5 Cr | 14 Cr | 13 Cr | 13 Cr | 12 Cr | 420 Cr | 291 Cr | 11 Cr | 9 Cr |
| Other liabilities | 297 Cr | 415 Cr | 456 Cr | 443 Cr | 646 Cr | 672 Cr | 880 Cr | 1,056 Cr | 1,230 Cr | 1,332 Cr |
| Total liabilities | 934 Cr | 1,171 Cr | 1,372 Cr | 1,455 Cr | 1,875 Cr | 2,097 Cr | 2,907 Cr | 3,161 Cr | 3,338 Cr | 3,714 Cr |
| Fixed assets (net) | 164 Cr | 207 Cr | 221 Cr | 275 Cr | 358 Cr | 451 Cr | 459 Cr | 511 Cr | 529 Cr | 662 Cr |
| CWIP | 10 Cr | 7 Cr | 8 Cr | 67 Cr | 20 Cr | 9 Cr | 24 Cr | 25 Cr | 49 Cr | 20 Cr |
| Investments | 89 Cr | 75 Cr | 83 Cr | 36 Cr | 34 Cr | 34 Cr | 2 Cr | 102 Cr | 81 Cr | 277 Cr |
| Loans & advances | — | — | — | 5 Cr | 1 Cr | 2 Cr | 2 Cr | 1 Cr | 3 Cr | 1 Cr |
| Inventories | 274 Cr | 316 Cr | 376 Cr | 479 Cr | 632 Cr | 860 Cr | 767 Cr | 812 Cr | 997 Cr | 1,024 Cr |
| Trade receivables | 312 Cr | 449 Cr | 459 Cr | 324 Cr | 388 Cr | 484 Cr | 569 Cr | 596 Cr | 542 Cr | 533 Cr |
| Cash & bank | 15 Cr | 5 Cr | 85 Cr | 23 Cr | 281 Cr | 61 Cr | 40 Cr | 47 Cr | 50 Cr | 47 Cr |
| Other assets | 70 Cr | 110 Cr | 138 Cr | 246 Cr | 162 Cr | 197 Cr | 1,045 Cr | 1,066 Cr | 1,087 Cr | 1,150 Cr |
| Total assets | 934 Cr | 1,171 Cr | 1,372 Cr | 1,455 Cr | 1,875 Cr | 2,097 Cr | 2,907 Cr | 3,161 Cr | 3,338 Cr | 3,714 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 130 Cr | 52 Cr | 156 Cr | 141 Cr | 222 Cr | -39 Cr | 424 Cr | 393 Cr | 477 Cr | 459 Cr |
| Cash from investing | -106 Cr | -25 Cr | -51 Cr | -112 Cr | 41 Cr | -120 Cr | -771 Cr | -153 Cr | -97 Cr | -364 Cr |
| Cash from financing | -16 Cr | -37 Cr | -25 Cr | -91 Cr | -6 Cr | -61 Cr | 326 Cr | -232 Cr | -378 Cr | -98 Cr |
| Net cash flow | 8 Cr | -10 Cr | 80 Cr | -62 Cr | 257 Cr | -220 Cr | -21 Cr | 8 Cr | 3 Cr | -3 Cr |
| Free cash flow (OCF − Capex) | 87 Cr | 10 Cr | 102 Cr | 56 Cr | 157 Cr | -163 Cr | 321 Cr | 265 Cr | 356 Cr | 279 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 32.3% | 24.0% | 24.2% | 25.1% | 23.9% | 21.2% | 13.4% | 18.0% | 20.8% | 17.6% |
| ROE % | 22.8% | 18.0% | 18.5% | 18.7% | 16.5% | 16.1% | 11.8% | 14.2% | 15.0% | 13.0% |
| Debtor days | 54 | 70 | 64 | 47 | 52 | 50 | 50 | 45 | 35 | 33 |
| Inventory days | 171 | 175 | 167 | 224 | 253 | 222 | 205 | 175 | 182 | 191 |
| Days payable | 136 | 186 | 159 | 142 | 190 | 126 | 131 | 119 | 120 | 137 |
| Cash conversion cycle | 88 | 59 | 72 | 128 | 115 | 146 | 125 | 101 | 98 | 86 |
| OCF / EBITDA % | 62.2% | 27.4% | 69.6% | 54.8% | 71.2% | -11.4% | 132.5% | 92.0% | 92.9% | 87.1% |
| OCF / EBITDA % (3 years) | — | — | 54.3% | 52.0% | 65.4% | 35.8% | 62.6% | 71.7% | 102.7% | 90.6% |
| Debt / equity | 0.0039 | 0.0063 | 0.02 | 0.01 | 0.01 | 0.0084 | 0.26 | 0.16 | 0.0052 | 0.0037 |
| Current ratio | 2.52 | 2.26 | 2.40 | 2.59 | 2.36 | 2.47 | 1.84 | 1.67 | 1.75 | 1.84 |
| Net debt / EBITDA | -0.06 | — | -0.32 | -0.04 | -0.86 | -0.14 | 1.19 | 0.57 | -0.08 | -0.07 |