V-Guard’s Q1 FY 2021-22 Revenue grew by 38% Y-o-Y
Chennai, July 30: Leading electrical appliances maker V-Guard Industries on Friday reported 38% Y-o-Y growth in net revenue during the first Quarter of FY 2021-22. Consolidated Net Revenue from operations for the quarter ended June 30, 2021is Rs. 565.2 crore compared to the corresponding period of previous year (Rs. 408 Cr). Consolidated Profit After Tax for the quarter ended June 30, 2021 was Rs.25.5 Cr; a growth of 602% over corresponding period of previous year (Rs.3.6 Cr). Its gross margin improved by 3.8% during April-June quarter and Electrical and Durables segments performed well.
Commenting on the company’s performance, Mr. Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said “The second wave of Covid-19 was more severe and our stronger markets went through extended closures, impacting consumer demand. Our manufacturing units in Sikkim were also impacted due to lockdowns. In the context of demand constraints, our Electricals and Durables segments have performed well. Commodity cost inflation has been significant in the recent months. While we have been able to offset a major part of it, some more pricing actions are being planned. We expect the business to bounce back strongly in the coming quarters”.
About V- Guard:
V-Guard Industries Limited is one of India’s leading consumer electrical and Electronics Company. Incepted in 1977 by Mr. Kochouseph Chittilappilly to manufacture and market Voltage stabilizers, V-Guard is now a force to reckon with in the Indian electrical and electronics goods panorama. The company has established a strong brand name and aggressively diversified to become a multi-product company catering to the Light Electricals sector manufacturing Voltage stabilizers, Inverters, Pumps, House wiring cables, Electric water heaters, Fans, Solar water heaters, Kitchen Appliances and has also recently forayed into Air Cooler & Modular Switches. In an endeavour to reach every nook and corner of the country, V-Guard is armed with an expansive network of over 500 distributors, 200 service centres, 5500 direct dealers and 20,000 retailers and a committed after sales team. Under the leadership of Mr.Mithun Chittilappilly, Managing Director, V-Guard will continue to create thoughtfully engineered products in its endeavour to enrich consumer lives.
