V-Guard Industries Ltd., a leading Consumer Electricals and Electronics Company announced its audited financial results for the quarter and year ended March 31, 2023.
Q4 FY 2022-23 highlights:
·Consolidated Net Revenue from operations for the quarter ended March 31, 2023 is Rs. 1140.14 crs; a growth of 7.6% over the revenue recorded in the corresponding period of the previous year (Rs. 1059.17 crs).
·Consolidated Profit After Tax for the quarter is Rs. 52.73 crs as against Rs. 89.58 crs in corresponding period of the previous year.
·Consolidated Net Revenue from operations for the year ended March 31, 2023 is Rs. 4126.04 crores; a growth of 17.9% over the revenue recorded in corresponding period of the previous year (Rs. 3500.19 crs).
·Consolidated Profit After Tax for the year ended March 31, 2023 is Rs. 189.05 crs as against Rs. 228.44 crs in corresponding period of the previous year.
Business Outlook:
Commenting on the company’s performance, Mr. Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said “During the year, the Electronics and Durables segments registered strong topline growth. We are making sustained progress towards achieving scale in key Durables categories. Non-South regions grew by 26%, thereby contributing 45% of the overall company revenues. We are seeing improvements in margins as the effect of slight softening of input costs is being felt. We expect margins to further improve in the coming year.
During Q4 FY 23, we completed the acquisition of Sunflame and the merger of Simon. Work relating to business integration is ongoing. These M&As are a good strategic fit to V-Guard with multiple levers for synergy benefits.”
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