Board Meeting Details

The Board of Directors meeting was held on July 29, 2026, commencing at 10:30 AM and concluding at 1:20 PM.

Key Business Transacted

1. ESOS Allotment

The Board allotted 23,912 equity shares of face value ₹1 each to six employees who exercised stock options under the Company's 'ESOS 2013' scheme.

2. Management Change

Ms. Radha Unni's term as Chairperson and Independent Director concludes on September 26, 2026. The Board approved the appointment of Mr. Mithun K Chittilappilly (DIN: 00027610), Managing Director, as Chairperson of the Board effective September 27, 2026.

Profile of Mr. Mithun K Chittilappilly:

  • Managing Director of V-Guard since April 2012
  • Graduate in Commerce and MBA (Finance & Marketing) from University of Melbourne, Australia
  • Previously worked at S B Billimoria & Co (Deloitte Group) and Hewlett Packard
  • Joined V-Guard in April 2004, appointed Executive Director in May 2006
  • Instrumental in expanding market presence beyond South India to pan-India
  • Expanded product portfolio into kitchen appliances, modular switches, switchgear, solar inverters, air coolers
  • Championed brand enhancement and increased manufacturing footprint

Financial Results - Standalone (Quarter Ended June 30, 2026)

Income Statement Highlights (₹ in crores):

| Particulars | Q1 FY27 (Jun 30, 2026) | Q4 FY26 (Mar 31, 2026) | Q1 FY26 (Jun 30, 2025) | FY26 (Mar 31, 2026) |

| Revenue from operations | 1,736.87 | 1,687.16 | 1,406.38 | 5,691.78 |

| Other income | 11.16 | 7.25 | 4.87 | 36.12 |

| Total income | 1,748.03 | 1,694.41 | 1,411.25 | 5,727.90 |

| Profit before tax | 143.72 | 127.61 | 75.56 | 343.87 |

| Tax expense | 35.93 | 32.26 | 19.85 | 84.50 |

| Net profit | 107.79 | 95.35 | 55.71 | 259.37 |

| Basic EPS (₹) | 2.46 | 2.17 | 1.27 | 5.92 |

| Diluted EPS (₹) | 2.45 | 2.17 | 1.27 | 5.90 |

Financial Results - Consolidated (Quarter Ended June 30, 2026)

Income Statement Highlights (₹ in crores):

| Particulars | Q1 FY27 (Jun 30, 2026) | Q4 FY26 (Mar 31, 2026) | Q1 FY26 (Jun 30, 2025) | FY26 (Mar 31, 2026) |

| Revenue from operations | 1,810.65 | 1,755.27 | 1,466.08 | 5,965.78 |

| Profit before tax | 171.87 | 147.22 | 98.26 | 407.88 |

| Tax expense | 41.62 | 35.09 | 24.41 | 99.55 |

| Net profit | 130.25 | 112.13 | 73.85 | 308.33 |

| Basic EPS (₹) | 2.97 | 2.56 | 1.69 | 7.03 |

| Diluted EPS (₹) | 2.96 | 2.55 | 1.68 | 7.01 |

Segment-wise Performance (Consolidated)

Revenue by Segment (₹ in crores):

| Segment | Q1 FY27 | Q4 FY26 | Q1 FY26 | FY26 |

| Electronics | 658.46 | 498.27 | 536.29 | 1,639.58 |

| Electricals | 670.12 | 771.78 | 524.70 | 2,461.08 |

| Consumer Durables | 416.71 | 426.11 | 349.58 | 1,615.88 |

| Sunflame | 65.69 | 60.10 | 55.51 | 250.23 |

| Total | 1,810.98 | 1,756.26 | 1,466.08 | 5,966.77 |

Segment Results (₹ in crores):

| Segment | Q1 FY27 | Q4 FY26 | Q1 FY26 | FY26 |

| Electronics | 130.70 | 86.60 | 104.87 | 294.12 |

| Electricals | 70.64 | 95.08 | 47.37 | 279.60 |

| Consumer Durables | 14.92 | 6.96 | (7.17) | 26.08 |

| Sunflame | 2.62 | 4.03 | 2.43 | 13.16 |

Notes to Financial Results

1. Accounting Standards: Financial results prepared in accordance with Indian Accounting Standards (Ind AS)

2. Review and Approval: Results reviewed by Audit Committee and approved by Board of Directors on July 29, 2026

3. Segment Reporting: Management identified four business segments:

  • Electronics: Stabilizers, Digital UPS, Solar Inverters
  • Electricals: PVC Insulated Cables, Switch Gears, Pumps, Modular Switches
  • Consumer Durables: Water Heaters, Fans, Kitchen Appliances, Air Coolers
  • Sunflame: Products sold under Sunflame and Superflame trademarks

4. Consolidation Entities:

  • Holding Company: V-Guard Industries Limited
  • Wholly-owned Subsidiaries: V-Guard Consumer Products Limited, Guts Electro-Mech Limited, Sunflame Enterprises Private Limited
  • Associate: Gegadyne Energy Labs Private Limited

5. Merger Update: Board accorded in-principle approval on July 29, 2025 for merger of Sunflame Enterprises Private Limited with V-Guard Industries Limited, subject to necessary approvals

6. Exceptional Item: The Group recognized incremental charge of ₹20.91 crores (standalone) and ₹22.11 crores (consolidated) for the year ended March 31, 2026, related to implementation of new Labour Codes notified by Government of India on November 21, 2025

7. Quarter Figures: Figures for quarter ended March 31, 2026 are balancing figures between audited annual figures and unaudited published year-to-date figures up to December 31, 2025

Auditor Review

Price Waterhouse Chartered Accountants LLP reviewed both standalone and consolidated financial results and concluded that nothing has come to their attention causing them to believe that the statements contain any material misstatement.