India's V-Guard Industries posts higher quarterly profit on strong demand

V Guard Industries

12/05/2026 11:11

May 12 (Reuters) - India's V-Guard Industries VGUA.NS reported a 23% rise in fourth-quarter profit on Tuesday, helped by strong demand in its electronics and electrical units.

The consumer electricals firm posted a consolidated net profit of 1.12 billion rupees ($11.70 million) for the quarter ended March 31, compared to 911.3 million rupees a year earlier.

Revenue from operations rose 14.1% year-on-year to 17.55 billion rupees, driven by strong sales of electronics and electrical products amid seasonal demand.

Profit margins expanded to 6.4% from 5.9% a year earlier.

However, V-Guard said the West Asia conflict led to price rises and operational uncertainties during the quarter.

"The West Asia war gave rise to significant challenges in terms of operational uncertainties and commodity price inflation," the company said.

Total expenses rose 13.4% year-on-year, primarily driven by a jump in raw material costs.

Analysts at HDFC Securities said demand recovery is yet to gain pace, with rising raw material costs likely to keep pressure on margins.

The electronics and electrical segments saw higher demand, with electronics revenue up 22.2% and electricals revenue up 15.9% year-on-year.

Peers Havells HVEL.NS and Polycab POLC.NS reported higher quarterly profits, helped by strong demand for wires, cables and appliances, and steady infrastructure and housing led demand.

Shares of V-Guard closed down 4.26% on Tuesday amid a broader market weakness.

($1 = 95.7000 Indian rupees)

 (Reporting by Bipasha Dey in Bengaluru; Editing by Nivedita Bhattacharjee)

 ((Bipasha.Dey@thomsonreuters.com;))