V-Guard Industries Ltd

V-Guard Industries is engaged in Business of Stabilizers, Digital UPS, UPS and Solar Inverters.

Pros:
Company is virtually debt free.
Company has been maintaining a healthy dividend payout of 21.19%
Cons:
Stock is trading at 11.26 times its book value
The company has delivered a poor growth of 11.26% over past five years.

Peer Comparison Sector: Capital Goods - Electrical Equipment // Industry: Electric Equipment

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
479 441 610 560 564 530 659 635 598 594 740 699
427 405 554 527 497 480 621 588 548 549 662 628
Operating Profit 51 36 57 33 67 49 38 46 50 45 78 71
OPM % 11% 8% 9% 6% 12% 9% 6% 7% 8% 8% 11% 10%
Other Income 4 3 3 3 2 3 3 3 4 4 7 6
Interest 1 0 0 0 0 0 0 0 0 1 0 1
Depreciation 4 4 4 5 5 5 5 5 5 6 6 7
Profit before tax 51 35 55 31 64 47 36 44 48 43 79 70
Tax % 27% 27% 29% 25% 27% 23% 23% 22% 21% 22% 25% 25%
Net Profit 37 25 39 23 46 36 28 34 38 34 59 52
EPS in Rs 0.88 0.43 0.92 0.55 1.09 0.84 0.65 0.81 0.90 0.79 1.39 1.23
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
265 301 428 696 959 1,351 1,506 1,731 1,845 2,086 2,312 2,566 2,631
234 270 377 623 865 1,241 1,383 1,598 1,667 1,877 2,124 2,347 2,387
Operating Profit 30 32 51 73 94 110 123 133 178 209 188 220 244
OPM % 11% 11% 12% 10% 10% 8% 8% 8% 10% 10% 8% 9% 9%
Other Income 31 4 1 5 2 4 5 4 7 13 10 18 21
Interest 5 5 6 11 17 20 21 21 9 2 2 1 2
Depreciation 3 4 7 8 10 11 12 15 15 16 19 22 23
Profit before tax 52 26 40 59 69 82 94 101 161 204 177 215 240
Tax % 29% 34% 36% 28% 27% 23% 26% 30% 31% 29% 25% 23%
Net Profit 37 17 25 43 51 63 70 71 112 145 133 166 184
EPS in Rs 0.83 0.39 0.57 0.98 1.18 1.46 1.62 1.62 2.55 3.41 3.13 3.88 4.31
Dividend Payout % 20% 43% 35% 24% 21% 17% 19% 19% 19% 21% 22% 21%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:23.89%
5 Years:11.26%
3 Years:11.63%
TTM:10.22%
Compounded Profit Growth
10 Years:25.31%
5 Years:18.77%
3 Years:14.06%
TTM:27.27%
Stock Price CAGR
10 Years:45.16%
5 Years:29.89%
3 Years:21.45%
1 Year:37.79%
Return on Equity
10 Years:22.76%
5 Years:22.04%
3 Years:21.45%
Last Year:20.07%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
30 30 30 30 30 30 30 30 30 42 43 43
Reserves 88 97 112 142 181 231 289 348 441 592 709 857
Borrowings 36 26 81 139 109 165 108 68 10 6 2 10
70 83 89 95 149 230 255 284 242 305 414 464
Total Liabilities 223 236 311 407 469 657 682 729 723 945 1,168 1,374
44 71 112 114 123 138 166 162 161 169 201 214
CWIP 16 26 3 1 11 9 3 1 0 10 7 8
Investments 15 11 5 0 0 0 0 0 19 89 84 92
149 127 192 291 335 510 512 565 542 677 875 1,061
Total Assets 223 236 311 407 469 657 682 729 723 945 1,168 1,374

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
6 24 -19 -34 84 11 111 89 131 130 54 153
-15 -36 -18 -5 -30 -25 -28 -17 -32 -106 -27 -50
46 -23 41 37 -59 25 -93 -72 -94 -16 -37 -24
Net Cash Flow 37 -34 3 -2 -5 10 -10 -1 5 8 -10 80

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 24% 20% 24% 25% 27% 27% 27% 28% 37% 37% 26% 26%
Debtor Days 52 59 64 65 56 54 51 51 55 55 70 66
Inventory Turnover 7.11 7.60 6.38 5.78 6.40 6.66 6.01 6.74 7.93 8.71 7.91 7.53