V-Guard Industries Reports 76% Surge in Q1 FY27 Net Profit to ₹130 Crore; Revenue Up 23.5%

BY ADMIN • FILED 29 Jul 2026, 5:27 PM

V-Guard Industries Limited reported an impressive financial performance for the quarter ended June 30, 2026 (Q1 FY27), supported by robust summer demand, healthy volume growth, and improved operational efficiencies across its product portfolio. The consumer electricals manufacturer posted a 76.4% year-on-year (YoY) increase in consolidated net profit to ₹130.25 crore, compared with ₹73.85 crore in the corresponding quarter of the previous financial year.

The strong quarterly performance was driven by broad-based growth across Electronics, Electricals, Consumer Durables, and Sunflame businesses, along with significant improvement in profitability and working capital management.

Q1 FY27 Financial Highlights

V-Guard delivered strong top-line and bottom-line growth during the quarter:

Net Revenue from Operations: Increased 23.5% YoY to ₹1,810.65 crore, up from ₹1,466.08 crore in Q1 FY26.
EBITDA (excluding other income): Rose 54.5% YoY to ₹190.96 crore.
EBITDA Margin: Expanded by 210 basis points to 10.5%, reflecting improved operating leverage and cost efficiencies.
Profit Before Tax (PBT): Jumped 74.9% YoY to ₹171.87 crore, with the PBT margin improving to 9.5%.
Net Profit: Increased 76.4% YoY to ₹130.25 crore.

Working Capital Improves Significantly

The company also reported a sharp improvement in operational efficiency, with net working capital days reducing to 31 days, compared to 63 days in the same quarter last year. The reduction reflects better inventory management and stronger cash conversion, further strengthening the company’s financial position.

Strong Performance Across Business Segments

Growth remained broad-based across all major product categories.

Electronics

The Electronics division reported revenue of ₹658.46 crore, registering a 22.8% YoY increase. Segment profit rose 24.6% to ₹130.70 crore, supported by healthy demand across key product categories.

Electricals

The Electricals business emerged as one of the strongest performers during the quarter.

Revenue: ₹670.12 crore (up 27.7% YoY)
Segment Profit: ₹70.64 crore (up 49.1% YoY)

The segment benefited from robust seasonal demand and continued market expansion.

Consumer Durables

The Consumer Durables segment delivered a notable turnaround.

Revenue: ₹416.71 crore (up 19.2% YoY)
Segment Profit: ₹14.92 crore

This compares with a loss of ₹7.17 crore reported in Q1 FY26, reflecting improved operating efficiencies and stronger product demand.

Sunflame

The Sunflame business also recorded healthy growth.

Revenue: ₹65.69 crore (up 18.3% YoY)
Segment Earnings: ₹2.62 crore

Regional Performance

V-Guard witnessed particularly strong growth in its core southern markets while maintaining steady momentum across the rest of the country.

South India: Revenue surged 36.7% YoY to ₹932.31 crore, accounting for 51.5% of total revenue.
Non-South Markets: Revenue increased 12.0% YoY to ₹878.34 crore, contributing the remaining 48.5%.

The balanced regional growth highlights the company’s continued efforts to strengthen its presence across India while maintaining leadership in southern markets.

Management Commentary

Commenting on the quarterly performance, Mithun K. Chittilappilly, Managing Director of V-Guard Industries Limited, said that all business segments delivered double-digit revenue growth during the quarter.

He noted that proactive supply chain management, combined with favorable summer demand, helped the company successfully mitigate geopolitical supply disruptions. Management also expressed confidence that the positive business momentum is expected to continue in the coming quarters, supported by healthy consumer demand and ongoing operational improvements.