V-Guard Industries Ltd

About [ edit ]

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. #

Key Points [ edit ]
  • Market Cap 9,593 Cr.
  • Current Price 223
  • High / Low 262 / 159
  • Stock P/E 58.8
  • Book Value 24.4
  • Dividend Yield 0.40 %
  • ROCE 26.1 %
  • ROE 19.6 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 21.28%
  • Debtor days have improved from 60.70 to 47.32 days.

Cons

  • Stock is trading at 9.14 times its book value
  • Promoter holding has decreased over last quarter: -5.33%
  • The company has delivered a poor sales growth of 7.47% over past five years.
Loading peers table ...

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
659 635 598 594 740 699 619 627 537 406 617 827
621 588 548 549 662 628 542 567 491 397 543 714
Operating Profit 38 46 50 45 78 71 78 59 45 9 74 114
OPM % 6% 7% 8% 8% 11% 10% 13% 9% 8% 2% 12% 14%
Other Income 3 3 4 4 7 6 7 5 5 5 7 5
Interest 0 0 0 1 0 1 1 1 1 1 1 1
Depreciation 5 5 5 6 6 7 7 7 7 8 8 9
Profit before tax 36 44 48 43 79 70 77 57 42 5 71 108
Tax % 23% 22% 21% 22% 25% 25% 25% 24% 23% 24% 30% 29%
Net Profit 28 34 38 34 59 52 57 43 33 4 50 77
EPS in Rs 0.65 0.81 0.90 0.79 1.39 1.23 1.34 1.00 0.76 0.08 1.17 1.79

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
301 428 696 959 1,351 1,506 1,731 1,845 2,086 2,312 2,566 2,482 2,387
270 377 623 865 1,241 1,383 1,598 1,667 1,877 2,124 2,347 2,228 2,145
Operating Profit 32 51 73 94 110 123 133 178 209 188 220 254 242
OPM % 11% 12% 10% 10% 8% 8% 8% 10% 10% 8% 9% 10% 10%
Other Income 4 1 5 2 4 5 4 7 13 10 18 23 22
Interest 5 6 11 17 20 21 21 9 2 2 1 4 4
Depreciation 4 7 8 10 11 12 15 15 16 19 22 28 33
Profit before tax 26 40 59 69 82 94 101 161 204 177 215 245 227
Tax % 34% 36% 28% 27% 23% 26% 30% 31% 29% 25% 23% 25%
Net Profit 17 25 43 51 63 70 71 112 145 133 166 185 163
EPS in Rs 0.42 0.61 1.02 1.22 1.51 1.68 1.68 2.65 3.41 3.13 3.88 4.32 3.80
Dividend Payout % 43% 35% 24% 21% 17% 19% 19% 19% 21% 22% 21% 21%
Compounded Sales Growth
10 Years:19%
5 Years:7%
3 Years:6%
TTM:-11%
Compounded Profit Growth
10 Years:22%
5 Years:21%
3 Years:9%
TTM:-23%
Stock Price CAGR
10 Years:32%
5 Years:21%
3 Years:-3%
1 Year:31%
Return on Equity
10 Years:22%
5 Years:22%
3 Years:20%
Last Year:20%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
30 30 30 30 30 30 30 30 42 43 43 43 43
Reserves 97 112 142 181 231 289 348 441 592 709 857 951 1,007
Borrowings 26 81 139 109 165 108 68 10 6 2 10 10 10
82 88 94 149 228 252 279 235 294 401 447 437 459
Total Liabilities 235 310 405 469 655 679 725 717 934 1,155 1,356 1,440 1,519
71 112 114 123 138 166 162 161 169 201 214 268 322
CWIP 26 3 1 11 9 3 1 0 10 7 8 67 13
Investments 11 5 0 0 0 0 0 19 89 84 92 45 9
126 190 290 335 508 509 561 536 666 862 1,043 1,061 1,176
Total Assets 235 310 405 469 655 679 725 717 934 1,155 1,356 1,440 1,519

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
24 -19 -34 84 11 111 89 131 130 54 153 139
-36 -18 -5 -30 -25 -28 -17 -32 -106 -27 -50 -110
-23 41 37 -59 25 -93 -72 -94 -16 -37 -24 -90
Net Cash Flow -34 3 -2 -5 10 -10 -1 5 8 -10 80 -61

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 20% 24% 25% 27% 27% 27% 28% 37% 37% 26% 26% 26%
Debtor Days 59 64 65 56 54 51 51 55 55 70 65 47
Inventory Turnover 5.32 4.34 4.24 4.71 5.03 4.55 5.06 5.67 6.22 5.57 5.32 3.95

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
64.29 64.20 64.15 64.12 64.10 64.05 62.81 62.73 62.73 62.64 62.55 57.22
11.90 11.78 12.45 12.38 12.67 12.92 13.51 13.39 13.07 12.51 13.01 14.87
12.16 11.51 11.86 11.86 12.08 12.45 13.09 13.44 13.31 13.14 13.20 13.87
11.65 12.51 11.53 11.64 11.15 10.58 10.59 10.44 10.89 11.71 11.24 14.05

Documents