Date: July 29, 2026

Financial Performance Overview

V-Guard Industries Ltd announced its unaudited financial results for the quarter ended June 30, 2026 (Q1 FY27).

Consolidated Performance:

  • Net Revenue from operations: ₹1,810.65 crores, representing 23.5% growth YoY (vs ₹1,466.08 crores in Q1 FY26)
  • Profit After Tax: ₹130.25 crores, representing 76.4% growth YoY (vs ₹73.85 crores in Q1 FY26)

Profit & Loss Statement (Consolidated):

| Metric | Q1 FY27 | Q1 FY26 | Change |

| COGS | ₹1,142.82 cr | ₹925.41 cr | 23.5% |

| Gross Margin | 36.9% | 36.9% | 0 bps |

| EBITDA (excl. other income) | ₹190.96 cr | ₹123.59 cr | 54.5% |

| EBITDA Margin (excl. other income) | 10.5% | 8.4% | 210 bps |

| Other Income | ₹11.68 cr | ₹5.25 cr | 122.5% |

| EBITDA (incl. other income) | ₹202.64 cr | ₹128.84 cr | 57.3% |

| EBITDA Margin (incl. other income) | 11.2% | 8.8% | 240 bps |

| PBT | ₹171.87 cr | ₹98.26 cr | 74.9% |

| PBT Margin | 9.5% | 6.7% | 280 bps |

| PAT | ₹130.25 cr | ₹73.85 cr | 76.4% |

| PAT Margin | 7.2% | 5.0% | 220 bps |

Performance Excluding Sunflame:

| Metric | Q1 FY27 | Q1 FY26 | Change |

| Net Revenue | ₹1,745.28 cr | ₹1,410.57 cr | 23.7% |

| COGS | ₹1,101.32 cr | ₹892.42 cr | 23.4% |

| Gross Margin | 36.9% | 36.7% | 20 bps |

| People Costs | ₹159.58 cr | ₹134.33 cr | 18.8% |

| Other Expenses | ₹296.09 cr | ₹262.51 cr | 12.8% |

| EBITDA (excl. other income) | ₹188.29 cr | ₹121.31 cr | 55.2% |

| EBITDA Margin (excl. other income) | 10.8% | 8.6% | 220 bps |

| Depreciation | ₹25.75 cr | ₹24.50 cr | 5.1% |

| Finance Costs | ₹3.06 cr | ₹4.24 cr | -27.8% |

| Other Income | ₹11.43 cr | ₹4.91 cr | 132.8% |

| EBITDA (incl. other income) | ₹199.72 cr | ₹126.22 cr | 58.2% |

| EBITDA Margin (incl. other income) | 11.4% | 8.9% | 250 bps |

| PBT | ₹170.91 cr | ₹97.48 cr | 75.3% |

| PBT Margin | 9.8% | 6.9% | 290 bps |

| PAT | ₹129.77 cr | ₹73.29 cr | 77.1% |

| PAT Margin | 7.4% | 5.2% | 220 bps |

Regional Performance

| Region | Q1 FY27 | Contribution | Q1 FY26 | Contribution | YoY Growth |

| South | ₹932.31 cr | 51.5% | ₹681.87 cr | 46.5% | 36.7% |

| Non-South | ₹878.34 cr | 48.5% | ₹784.21 cr | 53.5% | 12.0% |

| Total | ₹1,810.65 cr | 100% | ₹1,466.08 cr | 100% | 23.5% |

Segment-wise Analysis

Revenue by Segment:

| Segment | Q1 FY27 | Contribution | Q1 FY26 | Contribution | YoY Growth |

| Electronics | ₹658.46 cr | 36.4% | ₹536.29 cr | 36.6% | 22.8% |

| Electricals | ₹670.12 cr | 37.0% | ₹524.70 cr | 35.8% | 27.7% |

| Consumer Durables | ₹416.71 cr | 23.0% | ₹349.58 cr | 23.8% | 19.2% |

| Sunflame | ₹65.69 cr | 3.6% | ₹55.51 cr | 3.8% | 18.3% |

| Less: Intersegment Revenue | -₹0.33 cr | -0.0% | - | - | - |

| Total | ₹1,810.65 cr | 100% | ₹1,466.08 cr | 100% | 23.5% |

Segment Results:

| Segment | Q1 FY27 | Contribution | Q1 FY26 | Contribution | YoY Growth |

| Electronics | ₹130.70 cr | 59.7% | ₹104.87 cr | 71.1% | 24.6% |

| Electricals | ₹70.64 cr | 32.3% | ₹47.37 cr | 32.1% | 49.1% |

| Consumer Durables | ₹14.92 cr | 6.8% | -₹7.17 cr | -4.9% | 308.1% |

| Sunflame | ₹2.62 cr | 1.2% | ₹2.43 cr | 1.7% | 7.8% |

| Total | ₹218.88 cr | 100% | ₹147.50 cr | 100% | 48.4% |

Segment Margins:

| Segment | Q1 FY27 | Q1 FY26 | Change |

| Electronics | 19.8% | 19.6% | 0.2% |

| Electricals | 10.5% | 9.0% | 1.5% |

| Consumer Durables | 3.6% | -2.1% | 5.7% |

| Sunflame | 4.0% | 4.4% | -0.4% |

| Total | 12.1% | 10.1% | 2.0% |

Other Financial Highlights

Based on trailing twelve months:

| Metric | Q1 FY27 | Q1 FY26 |

| Debtor Days | 22 | 27 |

| Inventory Days | 100 | 102 |

| Creditor Days | 91 | 66 |

| Working Capital Days | 31 | 63 |

| RoE | 14.5% | 13.2% |

| RoCE | 17.8% | 16.7% |

| Core RoCE (excl. cash) | 22.9% | 17.1% |

Management Commentary

Mr. Mithun. K. Chittilappilly, Managing Director, commented that the business delivered a strong performance for the quarter with all segments delivering double-digit growth. Despite challenges posed by the West Asia war, the company delivered robust results while sustaining healthy margins driven by inherent resilience of the business, proactive actions and a supportive summer season.

The company will continue to monitor the geo-political situation and will take appropriate actions necessary to protect supplies and margins. Management is hopeful that the growth momentum will sustain in the upcoming quarters.