V-Guard Industries Ltd. reported a 10.6% increase in revenue for Q3 FY26, reaching ₹1403.51 crs. However, profit after tax declined by 5.2% to ₹57.06 crs due to a one-time impact from new Labour Codes. Excluding this impact, underlying PAT grew by 22.3%. The electrical segment drove growth, benefiting from both volume increases and commodity price inflation.
Financial Performance
V-Guard Industries Ltd. announced its unaudited financial results for the quarter ended December 31, 2025, revealing a mixed performance. Key highlights include:
- Net Revenue: ₹1403.51 crs, a 10.6% increase compared to ₹1268.65 crs in the same quarter last year.
- Profit After Tax (PAT): ₹57.06 crs, a 5.2% decrease from ₹60.22 crs in the corresponding period. This decline is attributed to a one-time impact from the new Labour Codes.
Nine-Month Performance
For the nine months ended December 31, 2025, V-Guard reported the following:
- Net Revenue: ₹4210.51 crs, a 4.2% increase compared to ₹4039.74 crs in the previous year.
- Profit After Tax (PAT): ₹196.20 crs, an 11.9% decrease from ₹222.58 crs in the corresponding period.
Business Segment Performance
Here’s a breakdown of segment-wise revenue for Q3 FY26:
- Electronics: ₹285.95 crs, a slight decrease of -0.0% year-over-year.
- Electricals: ₹601.98 crs, a significant increase of 25.8% year-over-year.
- Consumer Durables: ₹444.10 crs, an increase of 4.6% year-over-year.
- Sunflame: ₹71.48 crs, a decrease of -9.9% year-over-year.
Management Commentary
Mr. Mithun. K. Chittilappilly, Managing Director, commented that business delivered double-digit growth primarily driven by the electrical segment. An incremental charge of ₹22.11 crore was recognized as an ‘Exceptional item’ due to the notification about the New Labour Codes. The company anticipates strong results due to robust overall margins and expectations for the upcoming summer season.
Key Ratios
- Debtor days: 23
- Inventory days: 97
- Creditor days: 67
Source: BSE
