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V-Guard Industries

VGUARD NSE
₹292.95 +5.85 (+2.04%)
P/E
35.04
View as Markdown
MCP
Close 4 Nov 2026 ₹292.95 −76.25 −20.7% 1Y
Start ₹369.20

Key Fundamentals

MicrocapConsumer DurablesConsumer Discretionary

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
18.40%
Debt to Equity
0.07
EPS (TTM)
₹8.36
Book Value
₹58.64
Market Cap
—
P/E (TTM)
35.04
P/B
5.00
ROE
14.40%
Dividend Yield
0.52%
EBITDA
₹550 Cr
52W High
₹379.65
52W Low
₹252.45
Day Range
₹284.60 – ₹293.70
Volume
11,71,205

Peer Comparison

Consumer Discretionary › Consumer Goods › Household Appliances

V-Guard Industries peer comparison
LG Electronics
₹1,692.1062.93₹1,15,914 Cr14.980.00%24.70%32.30%₹25,575 Cr₹1,825 Cr
Voltas
₹1,064.8078.41₹35,544 Cr5.530.38%6.10%9.04%₹14,979 Cr₹442 Cr
Blue Star
₹1,555.0062.78₹32,857 Cr9.170.54%17.20%21.20%₹12,798 Cr₹510 Cr
Amber Enterprises
₹6,460.00236.98₹22,453 Cr5.210.00%5.99%10.30%₹12,625 Cr₹124 Cr
Crompton Greaves
₹203.82—₹13,185 Cr4.331.52%10.30%19.00%₹7,698 Cr−₹189 Cr
V-Guard Industries (this company)
₹292.9535.04₹12,603 Cr5.000.52%14.40%18.40%₹6,310 Cr₹364 Cr
Whirlpool
₹826.1541.77₹10,427 Cr2.520.61%7.71%10.70%₹8,329 Cr₹252 Cr
Median 7 companies₹1,064.8062.86₹22,453 Cr5.210.52%10.30%18.40%₹12,625 Cr₹364 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

47 Average

Data confidence 100/100

insider_selling

Category scores

Quality
51
Average
Returns, margins, earnings quality 22% weight
Valuation
50
Average
Cheap vs sector & own history 24% weight
Growth
47
Average
Sales & profit trajectory 9% weight
Financial Health
82
Strong
Solvency, leverage, coverage 9% weight
Momentum
24
Poor
Trend strength, vol-adjusted 12% weight
Ownership
49
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 21.9%

No weaknesses listed

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish847
OscillatorsBullish243
Moving AveragesStrong Bearish604

Key readings

RSI (14)
52.96
Neutral
MACD (12,26,9)
−6.52
Bullish
SMA (50)
307.00
Bearish
SMA (200)
314.85
Bearish

As of

Analyst Rating

Based on 17 analysts
BUY94%

16 of 17 analysts rate Buy, 1 Hold, 0 Sell.

As of

BUY
16
94%
HOLD
1
6%
SELL
0
0%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+17.00%
3Y+13.07%
1Y+6.96%
TTM+13.36%

Net profit

Net profit growth by window
5Y+8.80%
3Y+17.68%
1Y−1.91%
TTM+26.39%

Operating cash flow

Operating cash flow growth by window
5Y+15.64%
3Y+2.68%
1Y−3.77%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y−2.64 pp
3Y+1.08 pp
1Y−0.38 pp
TTM+0.77 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹2,086 Cr
Mar 2018₹2,326 Cr
Mar 2019₹2,594 Cr
Mar 2020₹2,503 Cr
Mar 2021₹2,721 Cr
Mar 2022₹3,500 Cr
Mar 2023₹4,127 Cr
Mar 2024₹4,857 Cr
Mar 2025₹5,578 Cr
Mar 2026₹5,966 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹145 Cr
Mar 2018₹135 Cr
Mar 2019₹168 Cr
Mar 2020₹188 Cr
Mar 2021₹202 Cr
Mar 2022₹228 Cr
Mar 2023₹189 Cr
Mar 2024₹258 Cr
Mar 2025₹314 Cr
Mar 2026₹308 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹145 Cr −20.2% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 15 Sep 2026
AI opinion · based on fundamentals
Risk medium

V-Guard Industries Ltd trades at a market cap of ₹14,026 Cr with a PE of 38.8x and is virtually debt-free. TTM sales growth stands at 13% with profit growth accelerating to 32% TTM, though ROE has moderated to 14% in the last year from a 10-year average of 17%. The stock has underperformed over the past year with a -13% return.

Bull Case 8
  • Near debt-free balance sheet provides financial flexibility and low interest burden, reducing risk during economic downturns
  • TTM profit growth of 32% significantly outpaces TTM sales growth of 13%, indicating meaningful margin expansion and operating leverage
  • Consistent compounded sales growth of 13% over 3 years and 17% over 5 years demonstrates sustained revenue momentum
  • Compounded profit growth of 20% over 3 years reflects improving profitability trajectory beyond just one strong quarter
  • Healthy dividend payout of 21.9% signals management confidence in cash flow generation while retaining capital for growth
  • 10-year stock CAGR of 10% shows the company has delivered long-term wealth creation for shareholders
  • ROE has been consistently in the 14-17% range over 3, 5, and 10-year periods, indicating stable return generation on equity
  • Dividend yield of 0.46% provides a modest income component alongside a growth-oriented business model
Bear Case 6
  • Stock has delivered -13% return over 1 year and just 1% CAGR over 3 years, indicating sustained underperformance versus the market
  • Price-to-book ratio of 5.96x is rich, pricing in significant future growth that may already be discounted
  • Last year ROE of 14% has declined from the 10-year average of 17%, suggesting deteriorating capital efficiency
  • 5-year compounded profit growth of only 10% is modest relative to the premium valuation of 38.8x PE
  • 5-year stock CAGR of just 5% suggests the market has been repricing the stock downward relative to its historical premium
  • Consumer discretionary sector exposure makes the company vulnerable to demand slowdowns during periods of inflation or rural stress

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

43d ago

TL;DR: Limited recent news flow for V-Guard Industries. The company is engaging with institutional investors at an upcoming conference on Sep 10, which is routine but could surface fresh guidance or strategic updates. No clear headwinds or positive catalysts in the current news cycle; watch for any disclosures from the investor meet.

Neutral 1
  • Investor meet on Sep 10 Sep 01

    V-Guard Industries will host an analyst and institutional investor meet on September 10, 2026, as part of the Axis Capital Consumer & Technology Conference in Mumbai.

Quarterly Results

₹ Cr
VGUARD quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
1,215
1,134
1,165
1,343
1,477
1,294
1,269
1,538
1,466
1,341
1,404
1,755
1,811
1,853
Expenses
1,110
1,041
1,064
1,215
1,321
1,184
1,165
1,395
1,342
1,232
1,280
1,585
1,620
1,685
Operating Profit
105
92
102
128
156
110
104
143
124
109
123
171
191
168
OPM %
9%
8%
9%
10%
11%
9%
8%
9%
8%
8%
9%
10%
11%
9%
Other Income
12
14
3
5
7
4
5
4
5
5
−16
8
12
14
Interest
11
9
9
10
9
8
6
3
4
2
3
3
3
3
Depreciation
20
20
19
22
22
22
25
27
26
27
27
28
28
29
PBT
86
78
76
101
132
85
79
118
98
85
77
147
172
150
Tax %
25%
24%
24%
24%
25%
25%
24%
23%
25%
23%
26%
24%
24%
25%
Net Profit
64
59
58
76
99
63
60
91
74
65
57
112
130
112
EPS (₹)
1.48
1.36
1.34
1.75
2.28
1.46
1.38
2.09
1.69
1.5
1.31
2.57
2.98
—

Sep 2026: from the results filed on 29 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
VGUARD profit and loss, annual, ₹ crore
Particulars Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,086
2,326
2,594
2,503
2,721
3,500
4,127
4,857
5,578
5,966
6,310
Expenses
1,876
2,135
2,369
2,244
2,409
3,159
3,807
4,429
5,064
5,439
5,716
Operating Profit
210
191
225
259
312
341
320
428
514
527
594
OPM %
10%
8%
9%
10%
11%
10%
8%
9%
9%
9%
9%
Other Income
12
10
20
24
20
10
16
33
20
1
8
Interest
2
2
2
4
6
8
16
40
25
12
11
Depreciation
16
20
23
29
39
49
64
81
96
108
109
PBT
204
180
220
250
288
294
256
340
414
408
482
Tax %
29%
25%
23%
25%
30%
22%
26%
24%
24%
24%
—
Net Profit
145
135
168
188
202
228
189
258
314
308
365
EPS (₹)
3.41
3.15
3.92
4.37
4.67
5.28
4.38
5.93
7.2
7.06
8.36
Div. Payout %
21%
22%
20%
21%
26%
25%
30%
24%
21%
21%
—

Balance Sheet

₹ Cr
VGUARD balance sheet, annual, ₹ crore
Particulars Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
42
43
43
43
43
43
43
43
44
44
Reserves
592
707
857
953
1,168
1,364
1,564
1,771
2,054
2,329
Borrowings
6
7
14
13
69
68
503
401
134
165
Other Liabilities
294
414
458
447
594
632
788
936
1,098
1,160
Total Liabilities
934
1,171
1,372
1,455
1,875
2,107
2,899
3,152
3,329
3,698
Fixed Assets
169
218
231
284
370
463
1,247
1,334
1,374
1,524
CWIP
10
7
8
67
20
17
27
37
49
21
Investments
89
75
83
36
33
33
34
101
81
276
Other Assets
666
870
1,050
1,068
1,452
1,593
1,591
1,679
1,825
1,877
Total Assets
934
1,171
1,372
1,455
1,875
2,107
2,899
3,152
3,329
3,698

Cash Flow

₹ Cr
VGUARD cash flow, annual, ₹ crore
Particulars Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
130
52
156
141
222
−37
424
393
477
459
Investing
−106
−25
−51
−112
41
−121
−771
−153
−97
−364
Financing
−16
−37
−25
−91
−6
−62
326
−232
−378
−98
Net Cash Flow
8
−10
80
−62
257
−220
−21
8
3
−3
Free Cash Flow
88
11
103
57
158
−161
323
265
357
279
CFO/OP
93
49
93
85
95
15
148
111
114
107

Ratios

VGUARD financial ratios, annual
Particulars Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
55
71
65
47
52
50
49
45
35
33
Inventory Days
68
71
76
105
124
130
97
92
102
98
Days Payable
54
76
73
67
94
69
62
62
67
71
Cash Conversion Cycle
68
66
68
85
83
112
85
75
70
60
Working Capital Days
58
70
65
74
71
88
55
41
43
39
ROCE %
—
26%
26%
26%
26%
22%
15%
18%
20%
18%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view V-Guard Industries insights

64 extracted metrics across FY06–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 53.21%
  • DIIs 21.62%
  • FIIs 13.02%
  • Public 7.71%
  • Others 4.44%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about V-Guard Industries

What does V-Guard Industries Ltd do?
Founded in 1977, V-Guard Industries Ltd. (‘V-Guard’) is a reputed Indian company manufacturing innovative and experiential products in the categories of Electronics, Electricals and Consumer Durables.
Where is V-Guard Industries Ltd (VGUARD) listed?
V-Guard Industries Ltd trades as VGUARD on the NSE and under code 532953 on the BSE.
Which sector does V-Guard Industries Ltd belong to?
V-Guard Industries Ltd is classified under the Consumer Goods sector, in the Household Appliances industry.
What is the PE ratio of V-Guard Industries Ltd?
V-Guard Industries Ltd trades at a PE ratio of 35.04 as of 4 Nov 2026, on earnings per share of ₹8.36, against a book value of ₹58.64 per share.
What is the 52-week high and low of V-Guard Industries Ltd?
Over the last 52 weeks V-Guard Industries Ltd has traded between ₹252.45 and ₹379.65 as of 4 Nov 2026.
Does V-Guard Industries Ltd pay dividends?
V-Guard Industries Ltd has a dividend yield of 0.52%.
What is the Return on Equity (ROE) of V-Guard Industries Ltd?
V-Guard Industries Ltd reported a return on equity of 14.40%. Its debt-to-equity ratio is 0.07.

Company Information

Founded in 1977, V-Guard Industries Ltd. (‘V-Guard’) is a reputed Indian company manufacturing innovative and experiential products in the categories of Electronics, Electricals and Consumer Durables. It has grown from being a brand synonymous with voltage stabilizers across South India, to a brand offering a wide array of thoughtfully engineered products to consumers across the length and breadth of the country. Underpinned by its continuous quest to enrich consumer lives and power a stronger tomorrow.

Website vguard.in
CEO Mr. Mithun K. Chittilappilly
Employees 3,133
Listed 13 Mar 2008
Face Value ₹1

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