About
V-Guard Industries Limited manufactures and sells electrical and electronic products in India and internationally. It operates through four segments: Electronics, Electrical, Consumer Durables and Sunflame. The Electronics segment offers voltage stabilizers; and inverter, digital DUPS, inverter batteries, UPS, solar inverters, solar power systems, off grid and on grid systems and inverters, and on grid photovoltaic (PV) inverters. The Electrical segment provides wires; pumps, such as domestic and agricultural pumps, and electric motors; modular switches, including matteo, novio, and torio switches; switchgears; and PVC insulated cables. The Consumer Durables Segment offers fans, such as ceiling, table, pedestal, wall, ventilating and exhaust, and other fans; air coolers, including desert, window-mounted, and personal and room variants; water heaters, such as electric, solar and heat pump water heaters; and kitchen appliances comprising induction cooktop, mixer grinders, gas cooktops, rice cookers, water purifiers, small and large appliances like kitchen hoods, and breakfast appliances. The Sunflame segment sells products under Sunflame and Superflame brands. It sells its products through a network of distributors and dealers. V-Guard Industries Limited was founded in 1977 and is headquartered in Kochi, India.
Key Metrics
as of Sep 2026Market Cap14,682 Cr
P/E38.60
Div Yield0.45 %
Book Value₹54.30
52w High₹392.00
52w Low₹289.00
Face Value₹1.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,737.00 | 1,687.00 | 1,326.00 | 1,272.00 | 1,406.00 | 1,480.00 | 1,185.00 | 1,229.00 | 1,415.00 | 1,262.00 | 1,078.00 | 1,072.00 | 1,148.00 |
| Expenses | 1,582.00 | 1,544.00 | 1,230.00 | 1,187.00 | 1,313.00 | 1,359.00 | 1,102.00 | 1,138.00 | 1,287.00 | 1,162.00 | 993.00 | 992.00 | 1,059.00 |
| Operating Profit | 155.00 | 143.00 | 96.00 | 85.00 | 94.00 | 121.00 | 83.00 | 91.00 | 128.00 | 100.00 | 85.00 | 80.00 | 88.00 |
| OPM % | 9.00 | 8.00 | 7.00 | 7.00 | 7.00 | 8.00 | 7.00 | 7.00 | 9.00 | 8.00 | 8.00 | 7.00 | 8.00 |
| Other Income | 11.00 | 7.00 | -16.00 | 19.00 | 5.00 | 3.00 | 5.00 | 4.00 | 7.00 | 25.00 | 2.00 | 14.00 | 11.00 |
| Depreciation | 21.00 | 21.00 | 20.00 | 21.00 | 20.00 | 20.00 | 20.00 | 17.00 | 17.00 | 17.00 | 17.00 | 16.00 | 17.00 |
| Interest | 2.00 | 1.00 | 2.00 | 1.00 | 3.00 | 1.00 | 5.00 | 7.00 | 8.00 | 9.00 | 9.00 | 9.00 | 11.00 |
| Profit before tax | 144.00 | 128.00 | 58.00 | 83.00 | 76.00 | 102.00 | 64.00 | 71.00 | 110.00 | 99.00 | 62.00 | 68.00 | 72.00 |
| Tax % | 25.00 | 25.00 | 27.00 | 20.00 | 26.00 | 24.00 | 25.00 | 27.00 | 26.00 | 20.00 | 24.00 | 24.00 | 26.00 |
| Net Profit | 108.00 | 95.00 | 42.00 | 66.00 | 56.00 | 78.00 | 48.00 | 52.00 | 82.00 | 79.00 | 47.00 | 52.00 | 53.00 |
| EPS in Rs | 2.47 | 2.18 | 0.97 | 1.51 | 1.28 | 1.79 | 1.10 | 1.20 | 1.88 | 1.82 | 1.07 | 1.20 | 1.23 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 5,692.00 | 5,309.00 | 4,559.00 | 4,051.00 | 3,477.00 | 2,699.00 | 2,482.00 | 2,566.00 | 2,312.00 | 2,086.00 | 1,845.00 | 1,731.00 |
| Expenses | 5,274.00 | 4,886.00 | 4,205.00 | 3,750.00 | 3,142.00 | 2,392.00 | 2,228.00 | 2,347.00 | 2,124.00 | 1,876.00 | 1,667.00 | 1,598.00 |
| Operating Profit | 418.00 | 422.00 | 354.00 | 301.00 | 335.00 | 307.00 | 254.00 | 220.00 | 188.00 | 210.00 | 178.00 | 133.00 |
| OPM % | 7.00 | 8.00 | 8.00 | 7.00 | 10.00 | 11.00 | 10.00 | 9.00 | 8.00 | 10.00 | 10.00 | 8.00 |
| Other Income | 15.00 | 19.00 | 51.00 | 15.00 | 10.00 | 21.00 | 23.00 | 18.00 | 10.00 | 12.00 | 7.00 | 4.00 |
| Interest | 7.00 | 20.00 | 37.00 | 16.00 | 8.00 | 6.00 | 4.00 | 1.00 | 2.00 | 2.00 | 9.00 | 21.00 |
| Depreciation | 82.00 | 74.00 | 67.00 | 58.00 | 48.00 | 37.00 | 28.00 | 22.00 | 19.00 | 16.00 | 15.00 | 15.00 |
| Profit before tax | 344.00 | 348.00 | 301.00 | 241.00 | 290.00 | 285.00 | 245.00 | 215.00 | 177.00 | 204.00 | 161.00 | 101.00 |
| Tax % | 25.00 | 25.00 | 23.00 | 26.00 | 22.00 | 30.00 | 25.00 | 23.00 | 25.00 | 29.00 | 31.00 | 30.00 |
| Net Profit | 259.00 | 260.00 | 231.00 | 179.00 | 227.00 | 199.00 | 185.00 | 166.00 | 133.00 | 145.00 | 112.00 | 71.00 |
| EPS in Rs | 5.94 | 5.97 | 5.32 | 4.15 | 5.26 | 4.63 | 4.32 | 3.88 | 3.13 | 3.41 | 2.65 | 1.68 |
| Dividend Payout % | 25.00 | 25.00 | 26.00 | 31.00 | 25.00 | 26.00 | 21.00 | 21.00 | 22.00 | 21.00 | 19.00 | 19.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 44.00 | 44.00 | 43.00 | 43.00 | 43.00 | 43.00 | 43.00 | 43.00 | 43.00 | 42.00 | 30.00 | 30.00 |
| Reserves | 2,181.00 | 1,955.00 | 1,725.00 | 1,545.00 | 1,359.00 | 1,165.00 | 951.00 | 857.00 | 709.00 | 592.00 | 441.00 | 348.00 |
| Borrowings | 64.00 | 77.00 | 356.00 | 501.00 | 66.00 | 66.00 | 10.00 | 10.00 | 2.00 | 6.00 | 10.00 | 68.00 |
| Other Liabilities | 1,001.00 | 964.00 | 762.00 | 626.00 | 613.00 | 586.00 | 437.00 | 447.00 | 401.00 | 294.00 | 235.00 | 279.00 |
| Total Liabilities | 3,290.00 | 3,039.00 | 2,886.00 | 2,715.00 | 2,082.00 | 1,860.00 | 1,440.00 | 1,356.00 | 1,155.00 | 934.00 | 717.00 | 725.00 |
| Fixed Assets | 571.00 | 465.00 | 435.00 | 447.00 | 400.00 | 354.00 | 268.00 | 214.00 | 201.00 | 169.00 | 161.00 | 162.00 |
| CWIP | 9.00 | 49.00 | 36.00 | 16.00 | 16.00 | 20.00 | 67.00 | 8.00 | 7.00 | 10.00 | 0.00 | 1.00 |
| Investments | 1,094.00 | 899.00 | 919.00 | 851.00 | 102.00 | 42.00 | 45.00 | 92.00 | 84.00 | 89.00 | 19.00 | 0.00 |
| Other Assets | 1,616.00 | 1,626.00 | 1,496.00 | 1,401.00 | 1,564.00 | 1,444.00 | 1,061.00 | 1,043.00 | 862.00 | 666.00 | 536.00 | 561.00 |
| Total Assets | 3,290.00 | 3,039.00 | 2,886.00 | 2,715.00 | 2,082.00 | 1,860.00 | 1,440.00 | 1,356.00 | 1,155.00 | 934.00 | 717.00 | 725.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 388.00 | 444.00 | 350.00 | 416.00 | -33.00 | 222.00 | 139.00 | 153.00 | 54.00 | 130.00 | 131.00 | 89.00 |
| Cash from Investing Activity | -299.00 | -77.00 | -107.00 | -774.00 | -133.00 | 41.00 | -110.00 | -50.00 | -27.00 | -106.00 | -32.00 | -17.00 |
| Cash from Financing Activity | -88.00 | -372.00 | -232.00 | 328.00 | -61.00 | -6.00 | -90.00 | -24.00 | -37.00 | -16.00 | -94.00 | -72.00 |
| Net Cash Flow | 2.00 | -5.00 | 11.00 | -30.00 | -227.00 | 257.00 | -61.00 | 80.00 | -10.00 | 8.00 | 5.00 | -1.00 |
| Free Cash Flow | 264.00 | 342.00 | 267.00 | 365.00 | -110.00 | 157.00 | 55.00 | 102.00 | 13.00 | 88.00 | 117.00 | 77.00 |
| CFO/OP % | 115.00 | 127.00 | 118.00 | 153.00 | 16.00 | 96.00 | 85.00 | 94.00 | 51.00 | 93.00 | 102.00 | 90.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 33.00 | 35.00 | 44.00 | 47.00 | 50.00 | 52.00 | 47.00 | 65.00 | 70.00 | 55.00 | 55.00 | 51.00 |
| Inventory Days | 79.00 | 88.00 | 83.00 | 87.00 | 129.00 | 124.00 | 105.00 | 75.00 | 70.00 | 68.00 | 57.00 | 74.00 |
| Days Payable | 65.00 | 65.00 | 56.00 | 55.00 | 68.00 | 93.00 | 66.00 | 72.00 | 74.00 | 54.00 | 42.00 | 55.00 |
| Cash Conversion Cycle | 47.00 | 59.00 | 71.00 | 79.00 | 111.00 | 83.00 | 86.00 | 68.00 | 66.00 | 68.00 | 70.00 | 70.00 |
| Working Capital Days | 32.00 | 37.00 | 37.00 | 50.00 | 88.00 | 71.00 | 74.00 | 67.00 | 69.00 | 58.00 | 58.00 | 51.00 |
| ROCE % | 17.00 | 17.00 | 16.00 | 14.00 | 22.00 | 26.00 | 26.00 | 26.00 | 26.00 | 37.00 | 37.00 | 28.00 |
Corporate Actions
24 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 31 Jul 2026 | 31 Jul 2026 | — | 1.50 | |
| Dividend | 31 Jul 2025 | 31 Jul 2025 | — | 1.50 | |
| Dividend | 25 Jul 2024 | — | — | 1.40 | |
| Dividend | 17 Aug 2023 | — | — | 1.30 | |
| Dividend | 20 Jul 2022 | — | — | 1.30 | |
| Dividend | 28 Jul 2021 | — | — | 1.20 | |
| Dividend | 26 Feb 2020 | 27 Feb 2020 | — | 0.90 | |
| Dividend | 16 Jul 2019 | — | — | 0.80 | |
| Dividend | 23 Jul 2018 | — | — | 0.70 | |
| Dividend | 21 Jul 2017 | — | — | 0.70 | |
| Bonus | 15 Mar 2017 | 16 Mar 2017 | 2:5 | — | |
| Split | 30 Aug 2016 | 31 Aug 2016 | 10:1 | — | |
| Dividend | 18 Jul 2016 | — | — | 2.50 | |
| Dividend | 17 Mar 2016 | 19 Mar 2016 | — | 4.50 | |
| Dividend | 24 Jul 2015 | — | — | 4.50 | |
| Dividend | 17 Jul 2014 | — | — | 4.50 | |
| Dividend | 11 Jul 2013 | — | — | 3.50 | |
| Other | 11 Jul 2013 | — | — | — | Annual General Meeting/Dividend Rs 3.50/- Per Equity Share |
| Dividend | 12 Jul 2012 | — | — | 3.50 | |
| Dividend | 13 Jul 2011 | — | — | 3.50 | |
| Dividend | 14 Jul 2010 | — | — | 3.00 | |
| Dividend | 15 Jul 2009 | — | — | 2.50 | |
| Dividend | 04 Jul 2008 | — | — | 2.50 | NSE/BSE dividend mismatch: NSE=0.25; BSE=2.5 |
| Dividend | 04 Jul 2008 | — | — | 0.25 | NSE/BSE dividend mismatch: NSE=0.25; BSE=2.5 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update8 Apr from icra
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Rating update27 Nov 2025 from crisil
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Rating update24 Feb 2025 from icra
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Rating update29 Nov 2024 from crisil
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Rating update5 Feb 2024 from icra
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Rating update13 Dec 2023 from crisil