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V-Guard Inds.

₹356.8 14 | 4.1%

Market Cap ₹15497 Cr.

Stock P/E 66.0

P/B 8.9

Current Price ₹356.8

Book Value ₹ 40.1

Face Value 1

52W High ₹364.4

Dividend Yield 0.36%

52W Low ₹ 240.1

V-Guard Inds. Research see more...

Overview Inc. Year: 1996Industry: Electric Equipment

V-Guard Industries Limited (V-Guard) is an totally India-based organisation engaged in manufacturing, buying and selling of electronic products. The Company's segments consist of Electronics, Electrical/Electro Mechanical and Others. V-Guard's Electronics segment consists of products, together with voltage stabilizers, UPS and digital UPS. The Company's Electrical/Electro Mechanical segment includes products, along with PVC Cables, Pumps and Motors, Electric Water Heaters, Fans, Switchgears, Induction Cooktops and Mixer Grinder. The Company's Others segment consists of merchandise, along with solar water heater and solar inverter. Its portfolio of merchandise comprises VIC 05, VG 400, VG 500, VIC 2000, Insignia and Turbo Grind. The Company's manufacturing facilities located at Kashipur, Utharakhand; Kala Amb, Himachal Pradesh, Coimbatore, Tamil Nadu; and SIPCOT Industrial growth center, Perundurai, Tamil Nadu, and Majhitar, Sikkim.

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V-Guard Inds. Share Price

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Price

Quarterly Price

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V-Guard Inds. Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 907 968 1059 1018 987 982 1140 1215 1134 1165
Other Income 3 3 3 5 3 5 3 12 14 3
Total Income 910 970 1062 1023 989 987 1143 1227 1148 1169
Total Expenditure 813 881 947 936 913 915 1041 1110 1041 1064
Operating Profit 97 89 115 87 76 72 101 117 107 105
Interest 3 1 2 2 2 2 10 11 9 9
Depreciation 11 14 13 14 15 17 19 20 20 19
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 83 74 100 72 59 53 72 86 78 76
Provision for Tax 24 20 10 18 16 14 19 22 19 18
Profit After Tax 59 54 90 53 44 39 53 64 59 58
Adjustments -0 -1 0 0 0 0 0 0 0 0
Profit After Adjustments 59 53 90 53 44 39 53 64 59 58
Adjusted Earnings Per Share 1.4 1.2 2.1 1.2 1 0.9 1.2 1.5 1.4 1.3

V-Guard Inds. Profit & Loss

#(Fig in Cr.) Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 2086 2326 2594 2503 2721 3500 4126 4654
Other Income 13 11 20 25 21 11 16 32
Total Income 2099 2337 2614 2528 2742 3511 4142 4687
Total Expenditure 1877 2135 2370 2245 2409 3160 3806 4256
Operating Profit 222 201 244 283 333 351 336 430
Interest 2 2 2 4 6 8 16 39
Depreciation 16 20 23 29 39 49 64 78
Exceptional Income / Expenses 0 0 0 0 0 0 0 0
Profit Before Tax 204 180 220 250 288 294 256 312
Provision for Tax 59 45 52 61 86 66 67 78
Profit After Tax 145 135 168 188 202 228 189 234
Adjustments 0 -1 -1 -1 -1 -1 0 0
Profit After Adjustments 145 134 167 187 201 228 189 234
Adjusted Earnings Per Share 3.4 3.2 3.9 4.4 4.7 5.3 4.4 5.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 18% 18% 12% 0%
Operating Profit CAGR -4% 6% 11% 0%
PAT CAGR -17% 0% 7% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 43% 17% 11% 25%
ROE Average 13% 17% 18% 19%
ROCE Average 16% 22% 24% 25%

V-Guard Inds. Balance Sheet

#(Fig in Cr.) Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 634 750 899 995 1211 1407 1608
Minority's Interest 0 2 2 4 5 5 0
Borrowings 2 0 0 0 0 0 273
Other Non-Current Liabilities 11 14 18 44 62 59 202
Total Current Liabilities 287 405 452 409 593 627 817
Total Liabilities 934 1171 1372 1452 1871 2098 2899
Fixed Assets 168 217 230 284 369 463 1245
Other Non-Current Assets 44 37 55 108 101 105 148
Total Current Assets 722 916 1086 1060 1401 1530 1505
Total Assets 934 1171 1372 1452 1871 2098 2899

V-Guard Inds. Cash Flow

#(Fig in Cr.) Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 6 15 5 85 23 281 61
Cash Flow from Operating Activities 130 52 156 141 222 -37 424
Cash Flow from Investing Activities -106 -25 -51 -111 41 -121 -771
Cash Flow from Financing Activities -16 -37 -25 -91 -6 -62 326
Net Cash Inflow / Outflow 8 -10 80 -62 257 -220 -21
Closing Cash & Cash Equivalent 15 5 85 23 281 61 40

V-Guard Inds. Ratios

# Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 3.41 3.15 3.92 4.37 4.67 5.28 4.38
CEPS(Rs) 3.79 3.63 4.48 5.08 5.59 6.43 5.87
DPS(Rs) 0.7 0.7 0.8 0.9 1.2 1.3 1.3
Book NAV/Share(Rs) 14.45 16.83 20.08 22.57 27.46 31.75 36.21
Core EBITDA Margin(%) 9.87 8.15 8.05 9.63 10.81 9.25 7.29
EBIT Margin(%) 9.74 7.78 7.94 9.47 10.19 8.21 6.2
Pre Tax Margin(%) 9.64 7.69 7.88 9.31 9.98 7.99 5.83
PAT Margin (%) 6.84 5.78 6.03 7.02 6.99 6.21 4.31
Cash Profit Margin (%) 7.61 6.63 6.86 8.12 8.33 7.55 5.78
ROA(%) 15.48 12.83 13.22 13.33 12.15 11.51 7.57
ROE(%) 23.57 20.31 21.36 20.64 18.8 17.91 12.88
ROCE(%) 32.16 26.02 26.5 26.41 26.36 22.84 15.78
Receivable days 53.88 59.5 59.48 53.34 45.02 43.28 43.78
Inventory Days 47.36 46.17 45.37 58.24 70.18 73.99 67.66
Payable days 53.97 62.58 70.24 72.96 76.83 70.18 59.6
PER(x) 51.02 70.48 56.52 35.44 54 40.95 57.15
Price/Book(x) 12.03 13.21 11.03 6.86 9.18 6.81 6.91
Dividend Yield(%) 0.4 0.31 0.36 0.58 0.48 0.6 0.52
EV/Net Sales(x) 3.53 4.07 3.62 2.61 3.89 2.65 2.71
EV/Core EBITDA(x) 33.18 46.99 38.39 23.08 31.78 26.42 33.18
Net Sales Growth(%) 0 11.51 11.54 -3.51 8.72 28.62 17.88
EBIT Growth(%) 0 -11.71 21.8 14.63 15.94 2.6 -9.91
PAT Growth(%) 0 -6.61 24.43 12.03 7.24 13.15 -17.24
EPS Growth(%) 0 -7.39 24.2 11.53 6.85 13.03 -17.06
Debt/Equity(x) 0.01 0.01 0.02 0.01 0.01 0.01 0.27
Current Ratio(x) 2.52 2.26 2.4 2.59 2.36 2.44 1.84
Quick Ratio(x) 1.56 1.48 1.57 1.42 1.3 1.07 0.9
Interest Cover(x) 97.99 89.05 125.74 60.98 48.24 38.3 16.79
Total Debt/Mcap(x) 0 0 0 0 0 0 0.04

V-Guard Inds. Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 55.96 55.88 55.88 55.86 55.85 55.8 55.62 55.62 54.57 54.48
FII 14.32 12.67 12.39 12.92 12.91 12.84 12.83 13.16 13.02 13.35
DII 15.99 17.32 18.1 18.05 18.93 19.09 19.37 19.36 20.45 20.17
Public 13.73 14.14 13.63 13.16 12.32 12.27 12.18 11.85 11.97 12
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Debtor days have improved from 70.18 to 59.6days.
  • Company is almost debt free.

Cons

  • Stock is trading at 8.9 times its book value.
  • The company has delivered a poor profit growth of 6% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

V-Guard Inds. News

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