V-Guard Industries register 11% increase in revenue during 2018-19

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Kochi: The city-based consumer electrical and electronics company, V-Guard Industries today announced its audited results for the quarter and year ended March 31, 2019. The company’s consolidated net revenue from operations for the financial year ending March 31, 2019, was Rs.2,594.44 crores, an increase of 11% over the previous fiscal.

The consolidated Profit After Tax for the year ended March 31, 2019, was Rs.167.23 crores, an increase of 24.6 % over the previous year (Rs.134.26 crores). For the fourth quarter of the last financial year, standalone net revenue from operations was Rs.739.69 crores, an increase of 12% over the corresponding period of the previous year. Standalone Profit After Tax for the quarter ended March 31, 2019, was Rs. 59.24 crores, an increase of 115% over the corresponding period of the previous year.

Commenting on the results, Mithun K Chittilappilly, Managing Director of V-Guard Industries said “FY 19 was a challenging year due to commodity and currency volatility. Despite these challenges, we were able to perform reasonably well. In Q4, we were able to land some pricing actions to bring margins back on track. We continue to make steady progress in the non-South markets. Our emerging categories have done well. We continue to invest in enhancing organisational capabilities and improving our competitiveness in the market.” The Board has recommended a dividend of 80 paise (80%) per equity share for the financial year 2018-19.

According to a press release, Wires, Modular Switches & Switchgear and Kitchen appliances grew well during the last quarter of the Financial Year. Modular Switches were launched in some of the non-south markets during the last quarter of the Financial Year; Air coolers were rolled out to more South and Non-South markets.

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