MarketFriction

V-Guard Industries Ltd

NSE VGUARD · BSE 532953 · Household Appliances
₹294.55 -0.64%
NSE close2026-10-01
52 week range288.80 - 384.00
Market cap₹13,415 Cr.
P/E35.3
Microcap 250 Price band 20% Delivery 56.0%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,1341,1651,3431,4771,2941,2691,5381,4661,3411,4041,7551,811
Expenses1,0411,0641,2151,3211,1841,1651,3951,3421,2321,2801,5851,620
Operating Profit92102128156110104143124109123171191
OPM %8%9%10%11%9%8%9%8%8%9%10%11%
Other Income1435745455-16812
Interest9910986342333
Depreciation201922222225272627272828
Profit before tax78761011328579118988577147172
Tax %24%24%24%25%25%24%23%25%23%26%24%24%
Net Profit59587699636091746557112130
EPS in Rs1.361.341.752.281.461.382.091.691.501.312.572.98
Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,0862,3262,5942,5032,7213,5004,1274,8575,5785,9666,310
Expenses1,8762,1352,3692,2442,4093,1593,8074,4295,0645,4395,716
Operating Profit210191225259312341320428514527594
OPM %10%8%9%10%11%10%8%9%9%9%9%
Other Income12102024201016332018
Interest2224681640251211
Depreciation162023293949648196108109
Profit before tax204180220250288294256340414408482
Tax %29%25%23%25%30%22%26%24%24%24%
Net Profit145135168188202228189258314308365
EPS in Rs3.413.153.924.374.675.284.385.937.207.068.36
Dividend Payout %21%22%20%21%26%25%30%24%21%21%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%17%13%13%
Compounded Profit Growth%10%20%32%
Stock Price CAGR9%3%0%-18%
Return on Equity17%15%15%14%
Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital42434343434343434444
Reserves5927078579531,1681,3641,5641,7712,0542,329
Borrowings6714136968503401134165
Other Liabilities2944144584475946327889361,0981,160
Total Liabilities9341,1711,3721,4551,8752,1072,8993,1523,3293,698
Fixed Assets1692182312843704631,2471,3341,3741,524
CWIP107867201727374921
Investments8975833633333410181276
Other Assets6668701,0501,0681,4521,5931,5911,6791,8251,877
Total Assets9341,1711,3721,4551,8752,1072,8993,1523,3293,698
Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity13052156141222-37424393477459
Cash from Investing Activity-106-25-51-11241-121-771-153-97-364
Cash from Financing Activity-16-37-25-91-6-62326-232-378-98
Net Cash Flow8-1080-62257-220-2183-3
Free Cash Flow881110357158-161323265357279
CFO/OP93%49%93%85%95%15%148%111%114%107%
Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days55716547525049453533
Inventory Days687176105124130979210298
Days Payable54767367946962626771
Cash Conversion Cycle686668858311285757060
Working Capital Days58706574718855414339
ROCE %26%26%26%26%22%15%18%20%18%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters55.63%54.56%54.48%54.42%54.40%54.36%54.30%54.28%53.33%53.28%53.22%53.22%
FIIs13.16%13.01%13.34%13.90%13.85%13.72%13.43%12.55%12.45%12.12%12.07%12.01%
DIIs19.37%20.45%20.18%20.16%19.88%20.25%20.63%21.61%22.86%23.32%23.39%23.24%
Public11.84%11.96%11.99%11.51%11.88%11.69%11.64%11.55%11.35%11.27%11.32%11.52%
No. of Shareholders1,18,1521,18,2761,19,5621,15,8231,40,4171,32,0031,32,9481,33,0001,32,8411,30,2181,33,2571,33,376

Fundamentals

Market Cap₹ 13,415 Cr.
Current Price₹ 307
Stock P/E35.3
Book Value₹ 54.3
ROCE18.4 %
ROE14.4 %
Dividend Yield0.49 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)13%
Compounded Profit Growth (TTM)32%
Consolidated figures.
Valuation
Market capRs 12,866 Cr
Enterprise valueRs 12,972 Cr
P/E (TTM)35.28x
Price to book5.42x
Price to sales2.04x
EV / EBITDA21.55x
EV / EBIT26.33x
EV / sales2.06x
Price to cash flow28.06x
Earnings yield2.83%
Dividend yield0.51%
P/E, 3-year average49.97x
P/B, 3-year average7.04x
P/E, 5-year average49.59x
P/B, 5-year average6.89x
Profitability
Operating margin (excl. other income)8.84%
Operating margin (incl. other income)8.85%
EBITDA margin9.54%
Pre-tax margin7.63%
Net profit margin5.78%
Net margin, latest quarter7.19%
ROE13.79%
ROCE17.62%
ROA8.78%
ROE, 3-year average14.96%
ROCE, 3-year average18.30%
ROA, 3-year average8.99%
ROE, 5-year average14.97%
ROCE, 5-year average18.40%
ROA, 5-year average9.19%
ROIC (approx.)15.02%
Tax rate24.41%
Other income / net worth0.04%
Growth
Sales growth (latest year)6.96%
Profit growth (latest year)-1.72%
Sales CAGR, 3 years13.07%
Sales CAGR, 5 years17.00%
Profit CAGR, 3 years17.70%
Profit CAGR, 5 years8.95%
Sales growth QoQ3.16%
Profit growth QoQ16.16%
Sales growth YoY (latest quarter)23.50%
Profit growth YoY (latest quarter)76.37%
Per share
EPS (TTM)Rs 8.35
EPS (latest year)Rs 7.06
EPS (latest quarter)Rs 2.98
EPS, 3-year averageRs 6.73
EPS, 5-year averageRs 5.97
Book value per shareRs 54.33
Sales per shareRs 144.47
Cash flow per shareRs 10.50
Free cash flow per shareRs 6.39
Dividend per share (latest year)Rs 1.50
Dividend per share, 3-year averageRs 1.47
Dividend per share, 5-year averageRs 1.40
Dividends
Dividend payout21.25%
Dividend payout, 3-year average21.90%
Dividend payout, 5-year average24.01%
Efficiency
Asset turnover1.61x
Fixed asset turnover3.92x
Inventory turnover4.09x
Inventory days89 days
Debtor days33 days
Debtors turnover11.20x
Creditor days71 days
Cash conversion cycle60 days
Working capital days39 days
Leverage
Total debtRs 165 Cr
Cash and bankRs 59 Cr
Net debtRs 106 Cr
Debt to equity0.07x
Net debt / EBITDA0.18x
Interest coverage43.91x
Current ratio (filing 2026-03-31)1.84x
Quick ratio (filing 2026-03-31)0.90x
Trade payables (filing 2026-03-31)Rs 738 Cr
Owners' fund to total sources64.17%
Debt to assets4.47%
Cash flow
Cash from Operating Activity (latest year)Rs 459 Cr
Cash from Investing Activity (latest year)Rs -364 Cr
Cash from Financing Activity (latest year)Rs -98 Cr
Net Cash Flow (latest year)Rs -3 Cr
Free cash flow (latest year)Rs 279 Cr
FCFE (approx.: FCF + change in debt)Rs 311 Cr
Cash from ops / profit, 5 years1.32x
Sales to cash flow13.01x
Statement figures
Net sales (TTM)Rs 6,310 Cr
Net sales (latest year)Rs 5,966 Cr
Sales (latest quarter)Rs 1,811 Cr
Operating profit excl. other income (latest year)Rs 527 Cr
Operating profit (latest quarter)Rs 191 Cr
Other income (TTM)Rs 8 Cr
EBITDA (TTM)Rs 602 Cr
PBDT (TTM)Rs 591 Cr
Profit before tax (TTM)Rs 482 Cr
Tax (latest year)Rs 100 Cr
Net profit (TTM)Rs 365 Cr
Net profit (latest year)Rs 308 Cr
Net profit (latest quarter)Rs 130 Cr
Depreciation (TTM)Rs 109 Cr
Depreciation (latest quarter)Rs 28 Cr
Interest (TTM)Rs 11 Cr
Cost of goods sold (latest year)Rs 4,187 Cr
Total expenditure (latest year)Rs 5,439 Cr
Total income (latest year)Rs 5,967 Cr
Share capitalRs 44 Cr
ReservesRs 2,329 Cr
Shareholders' fundsRs 2,373 Cr
Total assetsRs 3,698 Cr
Net blockRs 1,524 Cr
Capital work in progressRs 21 Cr
InvestmentsRs 276 Cr
ReceivablesRs 533 Cr
InventoryRs 1,024 Cr
Other liabilitiesRs 1,160 Cr
Shares outstanding (crore)43.68
Ownership
Promoter holding53.22% (-1.06 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 35.3 is the lowest in its own 9.4-year history (median 55.0, low 35.3, high 85.5).
P/B 5.42 is the lowest in 9.4 years (median 8.77).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodVGUARDNifty 50Difference
1 week-4.6%-2.8% -1.8 pts
1 month-14.1%-6.8% -7.3 pts
3 months-2.8%-7.6% +4.9 pts
6 months-6.5%+0.4% -6.9 pts
1 year-20.3%-9.9% -10.4 pts
2 years-34.0%-13.6% -20.4 pts
3 years-4.1%+14.2% -18.3 pts
5 years+13.4%+27.9% -14.5 pts
50 mutual fund schemes hold about ₹3,148 Cr. Over three months 39 bought more and 8 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI Small Cap Fund1.38%589 +12%
Aditya Birla SL Flexi Cap Fund1.10%320 +21%
Kotak Small Cap Fund1.41%278 +13%
SBI Multicap Fund1.12%275 +15%
ICICI Pru Multi Asset Allocation Fund0.26%232 +2%
ICICI Pru Value Fund0.35%208 +19%
Canara Rob Small Cap Fund1.26%184 +13%
Kotak Balanced Advantage Fund0.59%102 +19%
SBI Contra Fund0.20%94 +18%
Kotak Contra Fund1.47%81 +100%
Aditya Birla SL Multi-Cap Fund1.06%80 +11%
ICICI Pru Manufacturing Fund1.09%78 +147%
Kotak Large Cap Fund0.65%71 +17%
Aditya Birla SL ELSS Tax Saver Fund0.45%66 +158%
ICICI Pru Bharat Consumption Fund1.90%61 +16%
ICICI Pru Balanced Advantage Fund(M0.06%46 +1%
Aditya Birla SL Consumption Fund0.75%46 +17%
Canara Rob Multi Cap Fund0.67%38 +10%
ICICI Pru Infrastructure Fund0.38%33 +19%
ICICI Pru Energy Opportunities Fund0.39%32 -59%
Kotak Infra & Eco Reform Fund1.25%31 +17%
Kotak Infra & Eco Reform Fund1.25%30 +17%
SBI Consumption Opp Fund0.99%28 +22%
ICICI Pru Housing Opp Fund0.96%26 +16%
Canara Rob Infrastructure Fund2.06%20 +20%

Red flags

F-score 4 of 8
lookRegulator order or action Regulator order or action 2026-05-12: V-Guard Industries Limited has informed the Exchange about Action(s) taken or orders passed
lookAuditor change Auditor change 2026-05-12: V-Guard Industries Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹1,811 Cr +23.5% vs Jun 2025. Net profit ₹130 Cr +75.7%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-07-31Dividend - Rs 1.50 Per Share
2025-07-31Dividend - Rs 1.50 Per Share
2024-07-25Annual General Meeting/Dividend - Rs 1.40 Per Share
2023-08-17Dividend - Rs 1.30 Per Share
2022-07-20Annual General Meeting/Dividend - Rs 1.30 Per Share
2021-07-28 Annual General Meeting/Dividend - Rs 1.20 Per Share
2020-02-26 Interim Dividend - Re 0.90 Per Share
2019-07-16 Annual General Meeting/Dividend - Rs 0.80 Per Share
2018-07-23 Annual General Meeting/Dividend- Re 0.70 Per Share
2017-07-21 Annual General Meeting/Dividend - Re 0.70 Per Share
2017-03-15 Bonus 2:50.7143
2016-08-30 Face Value Split From Rs 10 To Re 10.1000
2016-07-18 Annual General Meeting/ Dividend - Rs 2.50/- Per Share
2016-03-17 Interim Dividend - Rs 4.50/- Per Share
2015-07-24Annual General Meeting/Dividend - Rs 4.50/- Per Share
2014-07-17Annual General Meeting / Final Dividend - Rs 4.50/- Per Share
2013-07-11Annual General Meeting/Dividend Rs 3.50/- Per Equity Share
2012-07-12Annual General Meeting/ Dividend Rs.3.50 Per Share
2011-07-13Annual General Meeting And Dividend Rs.3.50 Per Share
2010-07-14Annual General Meeting / Dividend Rs 3 Per Share
2009-07-15Agm/Div-Rs.2.50 Per Share
2008-07-04Agm/Dividend - 25%
DateTypeWhat it says
2026-09-26RetirementRetirement
2026-09-01Concall / analyst meetSchedule of meet
2026-08-12Shareholder meetingVoting results.
2026-08-11Shareholder meetingProceedings of Annual General Meeting held on August 11, 2026
2026-08-11General UpdatesESG Rating
2026-08-05Concall / analyst meetTranscript
2026-07-30Concall / analyst meetLink of recordings
2026-07-29Investor PresentationInvestor Presentation
2026-07-29Press ReleaseA press release dated July 29, 2026, titled "Results for Q1FY27".
2026-07-29General UpdatesGeneral Updates
2026-07-29AppointmentAppointment of Mr Mithun K Chittilappilly as Chairman & Managing Director of the company w.e.f. September 27, 2026.
2026-07-29Board meeting outcomeV-Guard Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-29AllotmentAllotment of 23912 securities pursuant to ESOP/ESPS at its meeting held on July 29, 2026
2026-07-28ESOPGrant of 76416 Options.
2026-07-16Concall / analyst meetSchedule of meet
2026-07-14Shareholder meetingNotice of Annual General Meeting to be held on August 11, 2026
2026-07-10ResignationResignation of Director/KMP/SMP
2026-07-10ResignationResignation of Mr Venkateshwaran Sundaram as Senior Managerial Personnel of the company w.e.f. July 10, 2026.
2026-06-29Disclosure under SEBI TakeovChittilappilly Thomas Kochouseph has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of Ind...
2026-06-12Concall / analyst meetSchedule of meet
2026-06-03Disclosure under SEBI TakeovChittilappilly Thomas Kochouseph has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of Ind...
2026-05-18Concall / analyst meetTranscript
2026-05-13General UpdatesGeneral Updates
2026-05-12Concall / analyst meetLink of Recording
2026-05-12Regulatory actionAction(s) taken or orders passed
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of V-Guard Industries Ltd?

V-Guard Industries Ltd (VGUARD) has a market capitalisation of Rs 13,415 Cr. at the 2026-10-01 close.

What is the P/E ratio of V-Guard Industries Ltd?

V-Guard Industries Ltd trades at a P/E of 35.3 on trailing twelve-month profit, at the 2026-10-01 close.

What were V-Guard Industries Ltd's latest quarterly results?

In the Jun 2026 quarter, V-Guard Industries Ltd sales was Rs 1,811 Cr (+23.5% vs Jun 2025) and net profit was Rs 130 Cr.

What is the 52-week high and low of V-Guard Industries Ltd?

The 52-week high is Rs 384.00 and the 52-week low is Rs 288.80.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03