V-guard Industries Limited · NSE:VGUARD
V-guard Industries — Q2 FY26 Earnings Presentation
18 slides from V-guard Industries's earnings presentation, October 2025
Slide 1: V-Guard Industries Q2 FY26 Earnings Presentation
V-Guard Industries Q2 FY26 Earnings Presentation
Slide 2: Disclaimer
2 Disclaimer Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those
Slide 3: Table of Contents
3 Table of Contents MD’s Message 04 Key Highlights 05 Financial Highlights 06-10 Segment-wise/Geographical Breakup of Revenues 11-13 Annexure 14-16
Slide 4: Managing Director's Message
4 Managing Director’s Commenting on the performance for Q2 FY26, Mr. Mithun Chittilappilly, Managing Director – Message V-Guard Industries Limited said, “In Q2FY26, the business delivered modest growth across segments due to headwinds such as higher than average rainfall, weak demand and GST transit
Slide 5: Key Highlights – Q2 FY26
Key Highlights – Q2 FY26 5 • Q2 FY26 revenue increased by 3.6% YoY to Rs. 1340.92 crore Revenue increased by • South markets witnessed a YoY growth of 4.3% whereas Non-South markets grew by 2.8% in Q2 FY26 3.6% YoY in Q2 FY26 • Non-South markets contributed to 44.1% of total revenues in Q2 FY26 as c
Slide 6: P&L Snapshot (including Sunflame)
6 P&L Snapshot (including Sunflame) P&L Statement Q2 FY26 Q2 FY25 Change Q1 FY26 H1 FY26 H1 FY25 Change Particulars (Rs. Cr) (Rs. Cr) % (Rs. Cr) (Rs. Cr) (Rs. Cr) % Net Revenue (NR) 1,340.92 1,293.99 3.6% 1,466.08 2,807.00 2,771.09 1.3% COGS 837.10 824.96 1.5% 925.41 1,762.51 1,759.74 0.2% Gross Mar
Slide 7: P&L Snapshot (excluding Sunflame)
7 P&L Snapshot (excluding Sunflame) P&L Statement Q2 FY26 Q2 FY25 Change Q1 FY26 H1 FY26 H1 FY25 Change Particulars (Rs. Cr) (Rs. Cr) % (Rs. Cr) (Rs. Cr) (Rs. Cr) % Net Revenue (NR) 1,277.78 1,232.94 3.6% 1,410.57 2,688.35 2,651.38 1.4% COGS 799.90 786.22 1.7% 892.42 1,692.32 1,685.23 0.4% Gross Mar
Slide 8: Financial Highlights (Q2 FY26 vs. Q2 FY25)
8 Financial Highlights (Q2 FY26 vs. Q2 FY25) Net Revenue (Rs. crore) Gross Profit (Rs. crore) 1,294 1,341 504 469 Key ratios (%) Q2 FY26 Q2 FY25 Gross Margin 37.6% 36.2% 3.6% 7.4% EBITDA Margin (excl. other income) 8.1% 8.5% Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Profit after Tax 4.9% 4.9% Ad & Promotion E
Slide 9: Financial Highlights (H1 FY26 vs. H1 FY25)
9 Financial Highlights (H1 FY26 vs. H1 FY25) Net Revenue (Rs. crore) Gross Profit (Rs. crore) 2,771 2,807 1,011 1,044 Key ratios (%) H1 FY26 H1 FY25 Gross Margin 37.2% 36.5% 1.3% 3.3% EBITDA Margin (excl. other income) 8.3% 9.6% H1 FY25 H1 FY26 H1 FY25 H1 FY26 Profit after Tax 5.0% 5.9% EBITDA (Rs.
Slide 10: Financial Highlights – Balance Sheet Perspective
Financial Highlights – Balance Sheet Perspective 10 Balance Sheet Snapshot (Rs. Cr) 30 September 2025 30 June 2025 30 September 2024 Net Worth 2,190.12 2,182.20 1,930.94 Gross Debt 7.49 10.59 146.91 Current Investments 45.19 60.26 80.46 Cash & Cash Equivalents (inc. bank balance) 55.08 105.65 70.71
Slide 11: Segment-wise Breakup – Q2 FY26 vs. Q2 FY25
11 Segment-wise Breakup – Q2 FY26 vs. Q2 FY25 Q2 FY26 Q2 FY25 YoY growth Segment Revenue Contribution (%) Contribution (%) (Rs. Cr) (Rs. Cr) (%) Electronics 319.07 23.8% 302.99 23.4% 5.3% Electricals 562.62 42.0% 537.61 41.6% 4.7% Consumer Durables 396.09 29.5% 392.34 30.3% 1.0% Sunflame 63.14 4.7%
Slide 12: Segment-wise Breakup – H1 FY26 vs. H1 FY25
12 Segment-wise Breakup – H1 FY26 vs. H1 FY25 H1 FY26 H1 FY25 YoY growth Segment Revenue Contribution (%) Contribution (%) (Rs. Cr) (Rs. Cr) (%) Electronics 855.36 30.5% 816.11 29.5% 4.8% Electricals 1,087.32 38.7% 1,025.31 37.0% 6.0% Consumer Durables 745.67 26.6% 809.96 29.2% -7.9% Sunflame 118.65
Slide 13: Geographical Breakup of Revenues
13 Geographical Breakup of Revenues Q2 FY26 Q2 FY25 YoY growth Region Contribution (%) Contribution (%) (Rs. Cr) (Rs. Cr) (%) South 713.73 55.9% 684.47 55.5% 4.3% Non-South 564.05 44.1% 548.47 44.5% 2.8% Total (excl. Sunflame) 1,277.78 100.0% 1,232.94 100.0% 3.6% Sunflame 63.14 61.05 3.4% Total Reve
Slide 14: UARD
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Slide 15: Market Overview of V-Guard's Product Portfolio
15 Market Overview of V-Guard’s Product Portfolio Total Market Size Indicative Org. Industry Growth VG Share in Electronics Product Other Key Players (Rs. Crs.) Market Size (%) Rate (%) Org. Market (%) Microtek, Everest, Stabilizers 1,600-2,000 65-70% 4-6% 40-45% Premier Exide, Luminous, DUPS & Batt
Slide 16: Market Overview of V-Guard's Product Portfolio
16 Market Overview of V-Guard’s Product Portfolio Total Market Size Indicative Org. Industry Growth VG Share in Appliances Product Other Key Players (Rs. Crs.) Market Size (%) Rate (%) Org. Market (%) Water Heaters 3,000-4,000 80-85% 8-10% 14-16% Bajaj, Havells, Crompton, Racold Electric Fans 12,000
Slide 17: About V-Guard Industries
17 About V-Guard Industries V-Guard Industries Limited (BSE:532953, NSE: VGUARD) is a Kochi based company, founded in 1977 by Kochouseph Chittilappilly to manufacture and market Voltage stabilizers. The Company has since then established a strong brand name and aggressively diversified to become a m
Slide 18: Thank You
THANK YOU