V-Guard Industries Limited has informed the Exchange about Transcript
VGUARD · price
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V-Guard filed the transcript of its Q1 FY26 (quarter ended June 30, 2025) earnings call held on July 30, 2025. Consolidated revenue was flat at INR 1,466 crores (down 0.7% YoY) as a weak summer and early monsoon hurt cooling products. The Consumer Durables segment (fans, coolers, kitchen appliances) saw a sharp 16.3% YoY revenue decline, while Electricals grew 7.6% and Electronics grew 4.5%. EBITDA margin fell 210 bps to 8.4% and PAT dropped to INR 74 crores from INR 99 crores YoY, mainly due to operating deleverage. Management trimmed its FY26 revenue growth guidance to 11-13% (from earlier 14-15%) and guided EBITDA margin of 8.5-9.5%, but said gross margin recovery is nearly complete and they are back to pre-COVID levels. The company announced entry into the Lighting segment (initially outsourced) and the merger of wholly-owned Sunflame with V-Guard to fast-track synergies.
Trimmed FY26 growth and margin guidance, plus weak Q1 numbers, may keep the stock under near-term pressure. However, the Lighting entry, Sunflame merger, and assurance that margin recovery is complete offer a longer-term growth story for shareholders.