V-Guard Industries reported double-digit revenue growth in Q3 FY26, primarily driven by its Electricals segment. Revenue reached ₹1,404 crore, a 10.6% increase year-over-year. While some summer-led categories faced muted demand, this was offset by growth in other segments. The company anticipates strong results with the upcoming summer season.
Financial Performance Highlights
V-Guard Industries announced a 10.6% increase in consolidated net revenue for the quarter ended December 31, 2025, reaching ₹1,404 crore. This growth was primarily fueled by the Electricals segment.
Gross margin remained healthy at 35.9%. EBITDA margin improved to 8.8% compared to 8.2% in the corresponding quarter of the previous year.
Profit After Tax (PAT) after exceptional items for the quarter was ₹57 crore, a 5.2% decrease year-over-year. However, on an underlying basis, consolidated PAT grew by 22% year-over-year.
Segmental Performance
The Electricals segment showed significant growth, while the Electronics and Durables segments experienced mixed performance. More details on specific segment contributions are provided below:
- Electronics: Revenue of ₹285.95 crore, a 0.0% change year-over-year.
- Electricals: Revenue of ₹601.98 crore, a 25.8% increase year-over-year.
- Consumer Durables: Revenue of ₹444.10 crore, a 4.6% increase year-over-year.
- Sunflame: Revenue of ₹71.48 crore, a -9.9% decrease year-over-year.
Geographical Performance
South markets witnessed a YoY growth of 20.1% whereas Non-South markets grew by 3.3% in Q3 FY26. Non-South markets contributed to 44.6% of total revenues.
Balance Sheet and Cash Flow
CFO generation remained strong for the first nine months of FY26 at ₹457.44 crore. Net cash as of December 31, 2025, stood at ₹293.68 crore.
Source: BSE
