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Last Updated on: 12 June, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 532953 | NSE: VGUARD

Fundamental Analysis of V-Guard Industries Ltd

Basic Stock Data

Last Updated: June 12, 2024, 10:15 pm

Market Cap 17,528 Cr.
Current Price 404
High / Low412/250
Stock P/E75.9
Book Value 40.7
Dividend Yield0.34 %
ROCE16.1 %
ROE13.8 %
Face Value 1.00
PEG Ratio17.85

Competitors of V-Guard Industries Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Orient Electric Ltd 5,160 Cr. 242263/18983.7 30.00.61 %14.1 %10.1 % 1.00
Tokyo Plast International Ltd 107 Cr. 113139/91.1107 63.30.00 %3.32 %1.68 % 10.0
TTK Prestige Ltd 10,227 Cr. 738833/64745.4 1510.82 %14.5 %11.2 % 1.00
Industry Average5,164.67 Cr364.3378.7081.430.48%10.64%7.66%4.00

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales8495619039611,0501,0109819791,0811,1481,0721,0781,262
Expenses7395178098769399289109189941,0599929931,162
Operating Profit11043948511182716186888085100
OPM %13%8%10%9%11%8%7%6%8%8%7%8%8%
Other Income4433353621114225
Interest213122221011999
Depreciation12111113121314161617161717
Profit before tax1003582721007258496272686299
Tax %32%29%28%28%10%25%26%26%25%26%24%24%20%
Net Profit68255952915443364653524779
EPS in Rs1.590.571.371.222.101.251.000.831.071.231.201.071.82

Last Updated: June 9, 2024, 8:30 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 26, 2024, 7:15 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales1,3511,5061,7311,8452,0862,3122,5662,4822,6993,4774,0504,559
Expenses1,2411,3831,5981,6671,8762,1242,3472,2282,3923,1423,7494,206
Operating Profit110123133178210188220254307335301354
OPM %8%8%8%10%10%8%9%10%11%10%7%8%
Other Income45471210182321101552
Interest20212192214681637
Depreciation111215151619222837485867
Profit before tax8294101161204177215245285290241301
Tax %23%26%30%31%29%25%23%25%30%22%26%23%
Net Profit637071112145133166185199227179231
EPS in Rs1.511.681.682.653.413.133.884.324.635.264.155.32
Dividend Payout %17%19%19%19%21%22%21%21%26%25%31%26%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)11.11%1.43%57.75%29.46%-8.28%24.81%11.45%7.57%14.07%-21.15%29.05%
Change in YoY Net Profit Growth (%)0.00%-9.68%56.32%-28.28%-37.74%33.09%-13.37%-3.88%6.50%-35.22%50.20%

Growth

Compounded Sales Growth
10 Years:12%
5 Years:12%
3 Years:19%
TTM:13%
Compounded Profit Growth
10 Years:13%
5 Years:7%
3 Years:5%
TTM:29%
Stock Price CAGR
10 Years:26%
5 Years:10%
3 Years:14%
1 Year:52%
Return on Equity
10 Years:18%
5 Years:16%
3 Years:14%
Last Year:14%

Last Updated: June 8, 2024, 7:30 am

Balance Sheet

Last Updated: May 14, 2024, 12:29 am

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital30303030304243434343434343
Reserves1812312893484415927098579511,1651,3591,5451,602
Borrowings10916510868106210106666501367
Other Liabilities149228252279235294401447437586613626703
Total Liabilities4696556797257179341,1551,3561,4401,8602,0822,7152,714
Fixed Assets123138166162161169201214268354400447452
CWIP11931010786720161619
Investments0000198984924542102851904
Other Assets3355085095615366668621,0431,0611,4441,5641,4011,340
Total Assets4696556797257179341,1551,3561,4401,8602,0822,7152,714

Reserves and Borrowings Chart

V-Guard Industries Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 84111118913113054153139222-33416
Cash from Investing Activity -30-25-28-17-32-106-27-50-11041-133-774
Cash from Financing Activity -5925-93-72-94-16-37-24-90-6-61328
Net Cash Flow-510-10-158-1080-61257-227-30

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-55.0015.0065.00168.00204.00186.00210.00244.00241.00269.00-200.00-2.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days565451515555706547525048
Inventory Days829082745768707510512412987
Days Payable505957554254747266936855
Cash Conversion Cycle8885767070686668868311180
Working Capital Days727063595858696876739065
ROCE %27%27%27%28%37%37%26%26%26%26%22%14%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters56.05%56.05%55.96%55.88%55.88%55.86%55.85%55.80%55.63%55.63%54.56%54.48%
FIIs14.53%14.29%14.32%12.67%12.39%12.92%12.91%12.84%12.83%13.16%13.01%13.34%
DIIs15.53%15.64%15.99%17.31%18.10%18.06%18.94%19.10%19.38%19.37%20.45%20.18%
Public13.89%14.01%13.73%14.14%13.63%13.14%12.31%12.27%12.18%11.84%11.96%11.99%
No. of Shareholders1,25,5001,35,6211,27,9721,45,1641,36,9861,37,0081,25,4311,23,1311,17,0611,18,1521,18,2761,19,562

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Small Cap Fund17,000,0002497.081,400,0002024-06-111114.29%
SBI Multicap Fund9,099,7751.81266.081,400,0002024-06-11549.98%
SBI Flexi Cap Fund7,000,0001.02204.681,400,0002024-06-11400%
Canara Robeco Small Cap Fund4,432,4581.35129.611,400,0002024-06-11216.6%
SBI Contra Fund2,706,4700.3479.141,400,0002024-06-1193.32%
SBI Conservative Hybrid Fund1,400,0000.4340.941,400,0002024-06-110%
SBI Conservative Hybrid Fund - Div (Annual)1,400,0000.4340.941,400,0002024-06-110%
SBI Conservative Hybrid Fund - Div (Monthly)1,400,0000.4340.941,400,0002024-06-110%
SBI Consumption Opportunities Fund700,0001.0220.471,400,0002024-06-11-50%
SBI Retirement Benefit Fund - Aggressive Plan681,4000.9419.921,400,0002024-06-11-51.33%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)5.894.385.294.684.38
Diluted EPS (Rs.)5.884.355.254.654.32
Cash EPS (Rs.)7.795.876.435.595.08
Book Value[Excl.RevalReserv]/Share (Rs.)41.7637.2032.7328.2723.33
Book Value[Incl.RevalReserv]/Share (Rs.)41.7637.2032.7328.2723.33
Revenue From Operations / Share (Rs.)111.8095.4781.0663.2658.44
PBDIT / Share (Rs.)10.617.788.137.746.61
PBIT / Share (Rs.)8.746.296.996.845.92
PBT / Share (Rs.)7.835.926.816.705.83
Net Profit / Share (Rs.)5.934.375.294.694.40
NP After MI And SOA / Share (Rs.)5.934.385.284.674.37
PBDIT Margin (%)9.488.1510.0312.2311.31
PBIT Margin (%)7.826.598.6210.8110.13
PBT Margin (%)7.006.198.4010.589.97
Net Profit Margin (%)5.304.586.537.417.52
NP After MI And SOA Margin (%)5.304.586.507.377.47
Return on Networth / Equity (%)14.1911.7616.1816.5718.79
Return on Capital Employeed (%)17.5913.0020.3922.9424.25
Return On Assets (%)8.146.5010.8510.7112.86
Long Term Debt / Equity (X)0.070.160.000.000.00
Total Debt / Equity (X)0.160.260.010.010.01
Asset Turnover Ratio (%)1.601.681.761.631.77
Current Ratio (X)1.671.842.472.362.59
Quick Ratio (X)0.850.901.071.301.42
Inventory Turnover Ratio (X)2.151.581.861.581.76
Dividend Payout Ratio (NP) (%)0.0029.6622.670.0038.85
Dividend Payout Ratio (CP) (%)0.0022.1218.640.0033.57
Earning Retention Ratio (%)0.0070.3477.330.0061.15
Cash Earning Retention Ratio (%)0.0077.8881.360.0066.43
Interest Coverage Ratio (X)11.6520.7744.5454.5768.04
Interest Coverage Ratio (Post Tax) (X)7.5112.6829.9934.1046.24
Enterprise Value (Cr.)14631.8511161.419279.4610581.586536.89
EV / Net Operating Revenue (X)3.012.712.653.892.61
EV / EBITDA (X)31.7633.1826.4431.7923.09
MarketCap / Net Operating Revenue (X)2.962.622.673.992.65
Retention Ratios (%)0.0070.3377.320.0061.14
Price / BV (X)7.946.726.638.956.66
Price / Net Operating Revenue (X)2.962.622.673.992.65
EarningsYield0.010.010.020.010.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 427.75

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 5.88% compared to the current price 404

Intrinsic Value: 445.94

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 10.38% compared to the current price ₹404

Last 5 Year EPS CAGR: 4.25%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 26.92%, which is a positive sign.
  2. The company has higher reserves (851.00 cr) compared to borrowings (114.00 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (2.08 cr) and profit (199.67 cr) over the years.
  1. The stock has a high average Working Capital Days of 68.42, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 79.25, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in V-Guard Industries Ltd:
    1. Net Profit Margin: 5.30%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 17.59% (Industry Average ROCE: 10.64%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 14.19% (Industry Average ROE: 7.66%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 7.51
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.85
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 75.9 (Industry average Stock P/E: 78.7)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.16
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company

V-Guard Industries Ltd. is a Public Limited Listed company incorporated on 12/02/1996 and has its registered office in the State of Kerala, India. Company’s Corporate Identification Number(CIN) is L31200KL1996PLC010010 and registration number is 010010. Currently company belongs to the Industry of Electric Equipment - General. Company’s Total Operating Revenue is Rs. 3474.66 Cr. and Equity Capital is Rs. 43.15 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Domestic Appliances42/962, Vennala High School Road, Vennala, Kochi Kerala 682028mail@vguard.in
http://www.vguard.in
Management
NamePosition Held
Mr. Kochouseph ChittilappillyChairman Emeritus
Mr. Cherian N PunnooseChairman
Mr. Mithun K ChittilappillyManaging Director
Mr. K Antony SebastianExecutive Director
Mr. V RamachandranDirector & COO
Prof. Biju VarkkeyIndependent Director
Mr. George Muthoot JacobIndependent Director
Ms. Radha UnniIndependent Director
Mr. C J GeorgeIndependent Director
Mr. Ullas K KamathIndependent Director
Mr. Ishwar SubramanianIndependent Director

FAQ

What is the latest fair value of V-Guard Industries Ltd?

The latest fair value of V-Guard Industries Ltd is ₹427.75.

What is the Market Cap of V-Guard Industries Ltd?

The Market Cap of V-Guard Industries Ltd is 17,528 Cr..

What is the current Stock Price of V-Guard Industries Ltd as on 12 June 2024?

The current stock price of V-Guard Industries Ltd as on 12 June 2024 is ₹404.

What is the High / Low of V-Guard Industries Ltd stocks in FY 2024?

In FY 2024, the High / Low of V-Guard Industries Ltd stocks is 412/250.

What is the Stock P/E of V-Guard Industries Ltd?

The Stock P/E of V-Guard Industries Ltd is 75.9.

What is the Book Value of V-Guard Industries Ltd?

The Book Value of V-Guard Industries Ltd is 40.7.

What is the Dividend Yield of V-Guard Industries Ltd?

The Dividend Yield of V-Guard Industries Ltd is 0.34 %.

What is the ROCE of V-Guard Industries Ltd?

The ROCE of V-Guard Industries Ltd is 16.1 %.

What is the ROE of V-Guard Industries Ltd?

The ROE of V-Guard Industries Ltd is 13.8 %.

What is the Face Value of V-Guard Industries Ltd?

The Face Value of V-Guard Industries Ltd is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in V-Guard Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE