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Last Updated on: 28 February, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 532953 | NSE: VGUARD

Fundamental Analysis of V-Guard Industries Ltd

About the Company - V-Guard Industries Ltd

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
Electric Equipment - General42/962, 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

V-Guard Industries Ltd. Share Price Update

Share PriceValue
Today₹309.95
Previous Day₹310.75

Basic Stock Data of V-Guard Industries Ltd

Market Cap 13,526 Cr.
Current Price 312
High / Low335/238
Stock P/E68.3
Book Value 37.9
Dividend Yield0.42 %
ROCE14.5 %
ROE12.0 %
Face Value 1.00

Data Source: screener.in

Competitors of V-Guard Industries Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Genus Power Infrastructures Ltd 6,308 Cr. 245344/78.6124 45.30.31 %5.77 %3.00 % 1.00
ABB India Ltd 1,14,262 Cr. 5,3925,523/3,05391.5 2810.10 %30.5 %22.9 % 2.00
Schneider Electric Infrastructure Ltd 13,948 Cr. 583643/14664.1 9.230.00 %27.6 %1,195 % 2.00
Websol Energy System Ltd 1,664 Cr. 394485/62.352.5 46.60.00 %11.2 %11.1 % 10.0
HPL Electric & Power Ltd 2,392 Cr. 372399/74.158.1 1260.27 %8.85 %3.87 % 10.0
Industry Average27,714.80 Cr1,397.2078.04101.630.14%16.78%247.17%5.00

V-Guard Industries Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales8278495619039611,0501,0109819791,0801,1481,0721,078
Expenses7147395178098769399289109189941,059992993
Operating Profit11411043948511182716186888085
OPM %14%13%8%10%9%11%8%7%6%8%8%7%8%
Other Income544333536211142
Interest121312222101199
Depreciation9121111131213141616171617
Profit before tax10810035827210072584962726862
Tax %29%32%29%28%28%10%25%26%26%25%26%24%24%
Net Profit77682559529154433646535247
EPS in Rs1.791.590.571.371.222.101.251.000.831.071.231.201.07

V-Guard Industries Ltd Quarterly Chart

V-Guard Industries Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales9591,3511,5061,7311,8452,0862,3122,5662,4822,6993,4774,0504,378
Expenses8651,2411,3831,5981,6671,8762,1242,3472,2282,3923,1423,7494,038
Operating Profit94110123133178210188220254307335301340
OPM %10%8%8%8%10%10%8%9%10%11%10%7%8%
Other Income245471210182321101529
Interest1720212192214681639
Depreciation10111215151619222837485866
Profit before tax698294101161204177215245285290241264
Tax %27%23%26%30%31%29%25%23%25%30%22%26%
Net Profit51637071112145133166185199227179198
EPS in Rs1.221.511.681.682.653.413.133.884.324.635.264.154.57
Dividend Payout %21%17%19%19%19%21%22%21%21%26%25%31%

V-Guard Industries Ltd Profit & Loss Yearly Chart

YoY Net Profit Growth
Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)23.53%11.11%1.43%57.75%29.46%-8.28%24.81%11.45%7.57%14.07%-21.15%
Change in YoY Net Profit Growth (%)0.00%-12.42%-9.68%56.32%-28.28%-37.74%33.09%-13.37%-3.88%6.50%-35.22%

V-Guard Industries Ltd Growth

Compounded Sales Growth
10 Years:12%
5 Years:12%
3 Years:18%
TTM:9%
Compounded Profit Growth
10 Years:11%
5 Years:6%
3 Years:-1%
TTM:-11%
Stock Price CAGR
10 Years:26%
5 Years:10%
3 Years:11%
1 Year:30%
Return on Equity
10 Years:19%
5 Years:17%
3 Years:16%
Last Year:12%

V-Guard Industries Ltd Balance Sheet

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

V-Guard Industries Ltd 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

V-Guard Industries Ltd 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%

V-Guard Industries Ltd Financial Efficiency Indicators Chart

V-Guard Industries Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters57.22%56.05%56.05%55.96%55.88%55.88%55.86%55.85%55.80%55.63%55.63%54.56%
FIIs14.87%14.53%14.29%14.32%12.67%12.39%12.92%12.91%12.84%12.83%13.16%13.01%
DIIs13.87%15.53%15.64%15.99%17.31%18.10%18.06%18.94%19.10%19.38%19.37%20.45%
Public14.05%13.89%14.01%13.73%14.14%13.63%13.14%12.31%12.27%12.18%11.84%11.96%
No. of Shareholders92,1821,25,5001,35,6211,27,9721,45,1641,36,9861,37,0081,25,4311,23,1311,17,0611,18,1521,18,276

V-Guard Industries Ltd Shareholding Pattern Chart

No. of V-Guard Industries Ltd Shareholders

V-Guard Industries Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
SBI Small Cap Fund170000002497.08
SBI Multicap Fund90997751.81266.08
SBI Flexi Cap Fund70000001.02204.68
Canara Robeco Small Cap Fund44324581.35129.61
SBI Contra Fund27064700.3479.14
SBI Conservative Hybrid Fund14000000.4340.94
SBI Conservative Hybrid Fund - Div (Annual)14000000.4340.94
SBI Conservative Hybrid Fund - Div (Monthly)14000000.4340.94
SBI Consumption Opportunities Fund7000001.0220.47
SBI Retirement Benefit Fund - Aggressive Plan6814000.9419.92

V-Guard Industries Ltd ROCE Trend

V-Guard Industries Ltd EPS Trend

V-Guard Industries Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)4.385.294.684.383.92
Diluted EPS (Rs.)4.355.254.654.323.86
Cash EPS (Rs.)5.876.435.595.084.47
Book Value[Excl.RevalReserv]/Share (Rs.)37.2032.7328.2723.3321.13
Book Value[Incl.RevalReserv]/Share (Rs.)37.2032.7328.2723.3321.13
Revenue From Operations / Share (Rs.)95.4781.0663.2658.4460.94
PBDIT / Share (Rs.)7.788.137.746.615.72
PBIT / Share (Rs.)6.296.996.845.925.18
PBT / Share (Rs.)5.926.816.705.835.14
Net Profit / Share (Rs.)4.375.294.694.403.94
NP After MI And SOA / Share (Rs.)4.385.284.674.373.92
PBDIT Margin (%)8.1510.0312.2311.319.39
PBIT Margin (%)6.598.6210.8110.138.50
PBT Margin (%)6.198.4010.589.978.44
Net Profit Margin (%)4.586.537.417.526.45
NP After MI And SOA Margin (%)4.586.507.377.476.42
Return on Networth / Equity (%)11.7616.1816.5718.7918.59
Return on Capital Employeed (%)13.0020.3922.9424.2524.06
Return On Assets (%)6.5010.8510.7112.8612.19
Long Term Debt / Equity (X)0.160.000.000.000.00
Total Debt / Equity (X)0.260.010.010.010.01
Asset Turnover Ratio (%)1.681.761.631.772.04
Current Ratio (X)1.842.472.362.592.40
Quick Ratio (X)0.901.071.301.421.57
Inventory Turnover Ratio (X)1.581.861.581.762.27
Dividend Payout Ratio (NP) (%)29.6622.670.0038.8517.82
Dividend Payout Ratio (CP) (%)22.1218.640.0033.5715.66
Earning Retention Ratio (%)70.3477.330.0061.1582.18
Cash Earning Retention Ratio (%)77.8881.360.0066.4384.34
Interest Coverage Ratio (X)20.7744.5454.5768.04138.81
Interest Coverage Ratio (Post Tax) (X)12.6829.9934.1046.2496.46
Enterprise Value (Cr.)11161.419279.4610581.586536.899383.24
EV / Net Operating Revenue (X)2.712.653.892.613.61
EV / EBITDA (X)33.1826.4431.7923.0938.40
MarketCap / Net Operating Revenue (X)2.622.673.992.653.63
Retention Ratios (%)70.3377.320.0061.1482.17
Price / BV (X)6.726.638.956.6610.51
Price / Net Operating Revenue (X)2.622.673.992.653.63
EarningsYield0.010.020.010.020.01

V-Guard Industries Ltd Profitability Ratios (%)

V-Guard Industries Ltd Liquidity Ratios

V-Guard Industries Ltd Liquidity Ratios (%)

V-Guard Industries Ltd Interest Coverage Ratios (X)

V-Guard Industries Ltd Valuation Ratios

Fair Value / Intrinsic Value of V-Guard Industries Ltd

Fair Value: ₹311.93

The stock is overvalued by 0.02% compared to the current price ₹312

*Investments are subject to market risks

Strength and Weakness of V-Guard Industries Ltd

StrengthWeakness
  1. The stock has a high average ROCE of 26.92%, which is a positive sign.
  2. The company has higher reserves (790.00 cr) compared to borrowings (114.46 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (75.69 cr) and profit (186.77 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 6.24 and average Dividend Yield of 8.93%.
  2. The stock has a high average Working Capital Days of 68.42, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 79.25, which may not be favorable.

Should I Buy V-Guard Industries Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in V-Guard Industries Ltd:
    1. Net Profit Margin: 4.58%
      • 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: 13.00% (Industry Average ROCE: 15.83%)
      • 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. Interest Coverage Ratio (Post Tax): 12.68
      • 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.
    4. Quick Ratio: 0.90
      • 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.
    5. ✗ Stock P/E: 68.3 (Industry average Stock P/E: 68.14)
      • 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.
    6. ✓ Total Debt / Equity: 0.26
      • 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 suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

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