V-Guard Industries Limited (VGUARD)

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V-Guard Industries Limited (VGUARD) · mywealthgrid

About

V-Guard Industries manufactures household appliances for the Indian consumer durables market. With market cap ₹14,275.71 Cr and quarterly revenues of ₹1.3–₹1.8 Cr, it operates as a mid-to-large player in a cyclical segment where demand ties closely to consumer spending and affordability.

Founded: 1977
Face value: ₹1

Market cap

₹12,869 Cr

P/E

35.3×

P/B

5.4×

Dividend yield

0.5%

ROE

13.8%

ROCE

17.9%

Debt / equity

OPM

8.8%

EPS (TTM)

₹8.4

Book value

₹54.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation elevated at PE 39.14; verify whether premium reflects durable competitive advantages or temporary margin strength that may compress.
Operating margins volatile from 6.71% (Sep 2025) to 10.55% (Jun 2026), signaling seasonal swings or operational inconsistency; clarify if recent margin expansion is structural or cyclical.
Consumer discretionary exposure makes earnings sensitive to spending cycles; verify household income trends and near-term consumer sentiment, especially at lower income brackets still penetrating appliances.
Input cost pressures in metals, electronics, and semiconductors; verify pricing power and track record of passing inflation to customers.

Generated analysis · source review pending

Growth drivers

Operating margin expanded from 6.71% (Sep 2025) to 10.55% (Jun 2026)—verify if structural improvement or seasonal benefit.
Revenue grew from ₹1,272.32 Cr (Sep 2025) to ₹1,810.65 Cr (Jun 2026)—confirm drivers: volume, pricing, product mix, or seasonality.
Zero debt (D/E 0) enables reinvestment in capacity or acquisitions without balance-sheet leverage constraints.
Consistent annual dividends demonstrate stable cash generation supporting both shareholder returns and internal growth investment.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹294.6-4.1%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 17% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 35.7×

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

59/100

Business quality: 58
Growth: 77
Valuation: 43

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MICROCAP 250 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Lg Electronics India LimitedLGEINDIALGEINDIA	₹1,16,876 Cr	₹1,16,876 Cr	₹25,575 Cr	₹2,593 Cr	9.8%	₹1,825 Cr	6.9%	31%	24.7%	30
Voltas LimitedVOLTASVOLTAS	₹34,850 Cr	₹35,817 Cr	₹14,979 Cr	₹734 Cr	4.5%	₹449 Cr	2.6%	11.4%	5.8%	19
Blue Star LimitedBLUESTARCOBLUESTARCO	₹30,009 Cr	₹30,636 Cr	₹12,798 Cr	₹905 Cr	7.5%	₹509 Cr	4.3%	23.2%	16.2%	33
Amber Enterprises India LimitedAMBERAMBER	₹22,945 Cr	₹25,647 Cr	₹12,625 Cr	₹1,008 Cr	7.8%	₹96 Cr	1.9%	12.6%	5.3%	53
Crompton Greaves Consumer Electricals LimitedCROMPTONCROMPTON	₹13,052 Cr	₹13,052 Cr	₹8,332 Cr	₹849 Cr	10.2%	₹-224 Cr	-2.9%	18.2%	-7.6%	-24
V-Guard Industries LimitedVGUARDVGUARD	₹12,869 Cr	₹12,878 Cr	₹6,310 Cr	₹594 Cr	8.8%	₹365 Cr	5.2%	17.9%	13.8%	60
Whirlpool Of India LimitedWHIRLPOOLWHIRLPOOL	₹10,934 Cr	₹10,934 Cr	₹8,329 Cr	₹409 Cr	6%	₹251 Cr	3.7%	9.9%	7.2%	9
Ttk Prestige LimitedTTKPRESTIGTTKPRESTIG	₹6,938 Cr	₹6,993 Cr	₹3,178 Cr	₹317 Cr	9.3%	₹190 Cr	5.3%	12.4%	8.1%	119
Eureka Forbes LimitedEUREKAFORBEUREKAFORB	₹6,817 Cr	₹6,817 Cr	₹2,802 Cr	₹321 Cr	11.6%	₹181 Cr	6%	4.8%	3.6%	80
Bosch Home Comfort India LimitedBOSCH-HCILBOSCH-HCIL	₹5,351 Cr	₹5,411 Cr	₹2,942 Cr	₹72 Cr	2.5%	₹5 Cr	-0.1%	4.5%	-0.5%	18
Ifb Industries LimitedIFBINDIFBIND	₹4,723 Cr	₹4,739 Cr	₹5,866 Cr	₹344 Cr	5.7%	₹160 Cr	2.6%	19.5%	15.6%	-10
Symphony LimitedSYMPHONYSYMPHONY	₹3,928 Cr	₹4,072 Cr	₹1,058 Cr	₹149 Cr	11%	₹-139 Cr	-12.5%	24.2%	-21.6%	162

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,503	2,721	3,498	4,126	4,857	5,578	5,966
COGS	1,662	1,853	2,414	2,884	3,224	3,556	3,797
Gross profit	841	869	1,084	1,242	1,633	2,022	2,168
	583	557	746	922	1,206	1,509	1,642
	258	312	338	320	427	513	527
OPM %	10.3%	11.5%	9.7%	7.8%	8.8%	9.2%	8.8%
Depreciation	29	39	49	64	81	96	108
Interest	4	6	8	16	40	25	12
	25	21	13	16	34	21	1
Profit before tax	250	288	294	256	340	414	408
Tax	61	86	66	67	83	100	100
Tax %	24.6%	29.9%	22.3%	26.1%	24.3%	24.2%	24.4%
	188	202	228	189	258	314	308
PAT margin %	7.5%	7.4%	6.5%	4.6%	5.3%	5.6%	5.2%
EPS (₹)	4.4	4.7	5.3	4.4	5.9	7.2	7
EPS adjusted (₹)	4.4	4.7	5.3	4.4	5.9	7.2	7.1
	20.5%	25.6%	24.6%	29.7%	23.8%	20.9%	21.3%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	30	43	43	43	43	43	43	43	44	44
Reserves	447	707	857	953	1,168	1,364	1,564	1,771	2,054	2,329
Minority interest	—	2	3	4	5	5	—	—	—	—
	18	5	14	13	13	12	420	291	11	9
	228	415	456	443	646	683	880	1,056	1,230	1,332
Total equity & liabilities	723	1,171	1,372	1,455	1,875	2,107	2,907	3,161	3,338	3,714
	165	217	230	—	369	463	1,138	1,199	1,233	1,352
CWIP	0	7	8	67	19	9	24	25	49	20
Investments	19	75	83	36	34	34	2	102	81	277
	538	871	1,050	1,352	1,453	1,601	1,743	1,835	1,976	2,065
Total assets	723	1,171	1,372	1,455	1,875	2,107	2,907	3,161	3,338	3,714

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Electricals	2,461.08	279.6	719.52	284.59	434.93	64.29
Electronics	1,639.58	294.12

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	33.6%	31.9%	31%	30.1%	33.6%	36.3%	36.3%
EBITDA margin %	10.3%	11.5%	9.7%	7.8%	8.8%	9.2%	8.8%
EBIT margin %	9.1%	10%	8.3%	6.2%	7.1%	7.5%	7%
PAT margin %	7.5%	7.4%	6.5%	4.6%	5.3%	5.6%	5.2%
Working capital
Receivable days	47	52	51	50	45	35	33
Inventory days	105	124	130	97	92	102	98
Payable days	67	94	69	62	62	67	71
NWC days	85	83	112	86	74	70	60
Leverage
Current ratio	2.59	2.39	2.48	1.84	1.67	1.75	1.84
Debt to EBITDA	0.05	0.04	0.03	1.31	0.68	0.02	0.02
Debt to equity	0.01	0.01	0.01	0.26	0.16	0.01	0
Interest coverage	61	48.2	38.3	16.8	9.6	17.9	35.7
Asset turnover	1.72	1.45	1.66	1.42	1.54	1.67	1.61
Return ratios
Return on assets %	12.9%	10.8%	10.8%	6.5%	8.1%	9.4%	8.3%
Return on capital employed %	24.3%	25.3%	21.9%	15.2%	17.9%	19.6%	17.9%
Return on equity %	18.9%	16.7%	16.2%	11.8%	14.2%	15%	13%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	55.62%	54.57%	54.48%	54.42%	54.39%	54.35%	54.3%	54.28%	53.32%	53.28%	53.23%	53.22%
	13.16%	13.02%	13.35%	13.9%	13.85%	13.72%	13.43%	12.56%	12.45%	12.13%	12.07%	12.01%
	19.36%	20.45%	20.17%	20.16%	19.88%	20.25%	20.62%	21.61%	22.86%	23.33%	23.39%	23.24%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	11.86%	11.96%	12%	11.52%	11.88%	11.68%	11.65%	11.55%	11.37%	11.26%	11.31%	11.53%
No. of shareholders	—	—	—	—	—	—	—	—	1,32,841	1,30,218	1,33,257	1,33,376

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 5 fund houses

Held by these funds

12.67%

of the company's equity

All mutual funds

23.11%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

19 schemes · 5 fund houses

		Shares
Smallcap Fund	SBI Mutual Fund	1.7 Cr	588.8	1.38%	3.891%	-0
Portfolio of Kotak Small Cap Fund	Kotak Mahindra Mutual Fund	80.21 L	277.8	1.41%	1.836%	-0
MultiCap Fund	SBI Mutual Fund	79.32 L	274.71	1.12%	1.815%	-0
Value Fund	ICICI Prudential Mutual Fund	60.09 L	208.1	0.35%	1.375%	-0
Contra Fund	SBI Mutual Fund	27.06 L	93.74	0.2%	0.619%	-0
Portfolio of Kotak Contra FundNEW	Kotak Mahindra Mutual Fund	23.4 L	81.05	1.47%	0.536%	—
Manufacturing Fund	ICICI Prudential Mutual Fund	22.62 L	78.35	1.09%	0.518%	-0
Portfolio of Kotak Large Cap Fund	Kotak Mahindra Mutual Fund	20.5 L	71	0.65%	0.469%	-0

1–8 of 19

1 / 3

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

1 announcementsExport CSV

1 Sept 2026, 11:40 amCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

Date	Category	Subject	Filing
1 Sept 2026, 11:40 am	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	33.6%	31.9%	31%	30.1%	33.6%	36.3%	36.3%
EBITDA margin %	10.3%	11.5%	9.7%	7.8%	8.8%	9.2%	8.8%
EBIT margin %	9.1%	10%	8.3%	6.2%	7.1%	7.5%	7%
PAT margin %	7.5%	7.4%	6.5%	4.6%	5.3%	5.6%	5.2%
Working capital
Receivable days	47	52	51	50	45	35	33
Inventory days	105	124	130	97	92	102	98
Payable days	67	94	69	62	62	67	71
NWC days	85	83	112	86	74	70	60
Leverage
Current ratio	2.59	2.39	2.48	1.84	1.67	1.75	1.84
Debt to EBITDA	0.05	0.04	0.03	1.31	0.68	0.02	0.02
Debt to equity	0.01	0.01	0.01	0.26	0.16	0.01	0
Interest coverage	61	48.2	38.3	16.8	9.6	17.9	35.7
Asset turnover	1.72	1.45	1.66	1.42	1.54	1.67	1.61
Return ratios
Return on assets %	12.9%	10.8%	10.8%	6.5%	8.1%	9.4%	8.3%
Return on capital employed %	24.3%	25.3%	21.9%	15.2%	17.9%	19.6%	17.9%
Return on equity %	18.9%	16.7%	16.2%	11.8%	14.2%	15%	13%

24 deals · 19 Sept 2022 – 20 Aug 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
20 Aug 2025	CHITTILAPPILLY THOMAS KOCHUOUSEPH	Block	NSE	Sell	41,51,351	₹370.00	₹153.60 Cr
20 Aug 2025	CHITTILAPPILLY THOMAS KOCHUOUSEPH	Bulk	NSE	Sell	41,51,351	₹370.00	₹153.60 Cr
20 Aug 2025	ICICI PRUDENTIAL MUTUAL FUND	Block	NSE	Buy	41,51,351	₹370.00	₹153.60 Cr
22 Dec 2023	CHITTILAPPILLY THOMAS KOCHUOUSEPH	Bulk	NSE	Sell	45,00,000	₹286.00	₹128.70 Cr
22 Dec 2023	CHITTILAPPILLY THOMAS KOCHUOUSEPH	Block	NSE	Sell	45,00,000	₹286.00	₹128.70 Cr
22 Dec 2023	ADITYA BIRLA SUN LIFE MUTUAL FUND	Bulk	NSE	Buy	35,00,000	₹286.00	₹100.10 Cr
22 Dec 2023	ADITYA BIRLA SUN LIFE MUTUAL FUND	Block	NSE	Buy	35,00,000	₹286.00	₹100.10 Cr
22 Dec 2023	MOTILAL OSWAL MUTUAL FUND	Block	NSE	Buy	10,00,000	₹286.00	₹28.60 Cr
17 Oct 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	5,19,922	₹244.40	₹12.71 Cr
17 Oct 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	5,19,922	₹244.40	₹12.71 Cr

1–10 of 24

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	130	52	156	141	222	-39	424	393	477	459
	-106	-25	-51	-111	41	-120	-771	-153	-97	-364
	-16	-37	-25	-91	-6	-61	326	-232	-378	-98
Net cash flow	8	-10	80	—	257	-220	-21	8	3	-3
Free cash flow	—	—	—	—	157	-163	321	265	356	279
CFO / Operating profit %	—	—	—	54.5%	71.2%	-11.5%	132.5%	92%	92.9%	87.1%

V-Guard Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

20

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Consumer Durables · revenue

V-Guard Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Quarterly record

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends20

Board meetings1

Stock splits1

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Consumer Durables · revenue

20

1

1