India's V Guard posts quarterly profit climb on healthy electricals demand

V Guard Industries

28/01/2026 10:03

Jan 28 (Reuters) - Indian electrical appliances maker V Guard Industries VGUA.NS reported a 26% rise in its quarterly profit on Wednesday, aided by higher demand for wires and cables.

Consolidated profit before exceptional items and tax rose to 994.3 million rupees ($10.83 million) for the third quarter ended December 31, up from 787.4 million rupees a year earlier.

Revenue from operations climbed 11% to 14.04 billion rupees.

For further results highlights, click here. (FULL STORY)

KEY CONTEXT

Demand for wires and cables stayed healthy on the back of increased infrastructure spending by the government and the private sector, as well as a strong real estate market.

Revenue from V Guard's electricals business, which accounts for more than 40% of its total revenue and sells cables, pumps and switches, climbed nearly 26% during the quarter.

Peers Polycab India POLC.NS and Havells India HVEL.NS also posted higher quarterly profits earlier this month.

PEER COMPARISON

Valuation (next 12 months)
Estimates (next 12 months)
Analysts' sentiment
RIC
PE
EV/EBITDA
Price/Sales
Revenue growth (%)
Profit growth (%)
Mean rating*
# of analysts
Stock to price target**
Div yield (%)
V Guard Industries Ltd
VGUA.NS
33.95
21.63
NULL
12.79
26.22
Buy
15
0.75
0.48
Havells India Ltd
HVEL.NS
42.46
28.31
3.09
15.25
23.62
Buy
25
0.78
0.78
Crompton Greaves Consumer Electricals Ltd
CROP.NS
22.73
14.72
1.64
11.61
21.43
Buy
32
0.60
1.33
Polycab India Ltd
POLC.NS
32.88
22.31
2.92
21.15
19.22
Buy
29
0.79
0.52

* The mean of analyst ratings standardized to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

OCTOBER-DECEMBER STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 91.8050 Indian rupees

V Guard Stock Performance Q3 2025 https://tmsnrt.rs/4qGW5br

 (Reporting by Komal Salecha in Bengaluru and Praveen Paramasivam in Chennai; Editing by Subhranshu Sahu and Janane Venkatraman)

 ((Komal@thomsonreuters.com;))