V-Guard Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹219.06Overvalued by 29.11%vs CMP ₹309.00

P/E (41.5) × ROE (12.9%) × BV (₹50.90) × DY (0.49%)

₹111.59Overvalued by 63.89%vs CMP ₹309.00

MoS: -176.9% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹221.43	22%	Over (-28.3%)
Graham Number	Earnings	₹79.73	16%	Over (-74.2%)
Earnings Power	Earnings	₹41.92	13%	Over (-86.4%)
DCF	Cash Flow	₹62.30	13%	Over (-79.8%)
Net Asset Value	Assets	₹50.99	7%	Over (-83.5%)
EV/EBITDA	Enterprise	₹134.94	9%	Over (-56.3%)
Earnings Yield	Earnings	₹55.50	7%	Over (-82%)
ROCE Capital	Returns	₹100.28	9%	Over (-67.5%)
Revenue Multiple	Revenue	₹182.51	5%	Over (-40.9%)
Consensus (9 models)		₹111.59	100%	Overvalued

Key Drivers: Wide model spread (₹42–₹221) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 1.1%

*Investments are subject to market risks

Analysis summary

Data coverage: Price-data record updated 25 September 2026, 7:08 am +05:30. Annual results through Mar 2025; quarterly results through Dec 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Mar 2025 was ₹5,309.00 Cr, versus ₹4,559.00 Cr in Mar 2024 (16.5% year on year). Net profit for Mar 2025 was ₹260.00 Cr, versus ₹231.00 Cr in Mar 2024 (12.6% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Mar 2025 period, operating cash flow was ₹444.00 Cr against net profit of ₹260.00 Cr. Cash flow covered 1.71 times reported profit. Cash generation supports the reported profit for this period; check whether this continues over several years.

Balance-sheet check

Reported borrowings were ₹64.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

V-Guard Industries Ltd scores 68/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health89/100 · Strong

ROCE 16.8% GoodROE 12.9% GoodD/E 0.01 Low debtInterest Coverage 21.8x StrongProfitable 5/5 available years Reported history

Smart Money50/100 · Moderate

FII holding stable No changePromoter holding at 53.2% Stable

Earnings Quality75/100 · Strong

CFO/NP ratio: 1.81x Cash-backed earningsOPM stable around 8% Steady

Quarterly Momentum50/100 · Moderate

Revenue (4Q): +8% YoY GrowingProfit (4Q): -7% YoY Declining

Industry Rank50/100 · Moderate

P/E 41.5 vs industry 49.9 In-lineROCE 16.8% vs industry 30.0% Below peersROE 12.9% vs industry 10.4% Above peers3Y sales CAGR: 15% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: September 25, 2026, 7:08 am

Market Cap	13,483 Cr.
Current Price	309
Intrinsic Value	₹111.60
High / Low	385/289
Stock P/E	41.5
Book Value	50.9
Dividend Yield	0.49 %
ROCE	16.8 %
ROE	12.9 %
Face Value	1.00
PEG Ratio	38.46

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for V-Guard Industries Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
V-Guard Industries Ltd	13,483 Cr.	309	385/289	41.5	50.9	0.49 %	16.8 %	12.9 %	1.00
Crompton Greaves Consumer Electricals Ltd	14,153 Cr.	220	311/217	31.2	46.1	1.36 %	18.1 %	10.6 %	2.00
Cello World Ltd	7,664 Cr.	340	674/315	24.1	122	0.44 %	17.4 %	13.2 %	5.00
Eureka Forbes Ltd	7,257 Cr.	375	668/355	36.3	236	0.00 %	5.86 %	4.25 %	10.0
TTK Prestige Ltd	7,058 Cr.	515	773/423	34.1	145	1.46 %	12.1 %	8.97 %	1.00
Industry Average	8,598.45 Cr	1,358.74		49.93	238.89	0.55%	30.04%	10.43%	6.57

All Competitor Stocks of V-Guard Industries Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	979	1,081	1,148	1,072	1,078	1,262	1,415	1,229	1,185	1,480	1,406	1,272	1,326
Expenses	918	994	1,059	992	993	1,162	1,287	1,138	1,102	1,359	1,313	1,187	1,230
Operating Profit	61	86	88	80	85	100	128	91	83	121	94	85	96
OPM %	6%	8%	8%	7%	8%	8%	9%	7%	7%	8%	7%	7%	7%
Other Income	6	2	11	14	2	25	7	4	5	3	5	19	-16
Interest	2	10	11	9	9	9	8	7	5	1	3	1	2
Depreciation	16	16	17	16	17	17	17	17	20	20	20	21	20
Profit before tax	49	62	72	68	62	99	110	71	64	102	76	83	58
Tax %	26%	25%	26%	24%	24%	20%	26%	27%	25%	24%	26%	20%	27%
Net Profit	36	46	53	52	47	79	82	52	48	78	56	66	42
EPS in Rs	0.83	1.07	1.23	1.20	1.07	1.82	1.88	1.20	1.10	1.79	1.28	1.51	0.97

Last Updated: February 3, 2026, 4:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 9:46 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	1,506	1,731	1,845	2,086	2,312	2,566	2,482	2,699	3,477	4,051	4,559	5,309	5,485
Expenses	1,383	1,598	1,667	1,876	2,124	2,347	2,228	2,392	3,142	3,750	4,205	4,886	5,089
Operating Profit	123	133	178	210	188	220	254	307	335	301	354	422	396
OPM %	8%	8%	10%	10%	8%	9%	10%	11%	10%	7%	8%	8%	7%
Other Income	5	4	7	12	10	18	23	21	10	15	51	19	11
Interest	21	21	9	2	2	1	4	6	8	16	37	20	7
Depreciation	12	15	15	16	19	22	28	37	48	58	67	74	81
Profit before tax	94	101	161	204	177	215	245	285	290	241	301	348	319
Tax %	26%	30%	31%	29%	25%	23%	25%	30%	22%	26%	23%	25%
Net Profit	70	71	112	145	133	166	185	199	227	179	231	260	242
EPS in Rs	1.68	1.68	2.65	3.41	3.13	3.88	4.32	4.63	5.26	4.15	5.32	5.97	5.55
Dividend Payout %	19%	19%	19%	21%	22%	21%	21%	26%	25%	31%	26%	25%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	1.43%	57.75%	29.46%	-8.28%	24.81%	11.45%	7.57%	14.07%	-21.15%	29.05%	12.55%
Change in YoY Net Profit Growth (%)	0.00%	56.32%	-28.28%	-37.74%	33.09%	-13.37%	-3.88%	6.50%	-35.22%	50.20%	-16.50%

V-Guard Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	12%
5 Years:	16%
3 Years:	15%
TTM:	10%

Compounded Profit Growth
10 Years:	14%
5 Years:	7%
3 Years:	4%
TTM:	-10%

Stock Price CAGR
10 Years:	19%
5 Years:	17%
3 Years:	14%
1 Year:	-22%

Return on Equity
10 Years:	17%
5 Years:	15%
3 Years:	13%
Last Year:	14%

Last Updated: September 5, 2025, 1:51 pm

Balance Sheet

Last Updated: July 28, 2026, 1:30 am

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	30	30	42	43	43	43	43	43	43	43	44	44
Reserves	348	441	592	709	857	951	1,165	1,359	1,545	1,725	1,955	2,181
Borrowings	68	10	6	2	10	10	66	66	501	356	77	64
Other Liabilities	279	235	294	401	447	437	586	613	626	762	964	1,001
Total Liabilities	725	717	934	1,155	1,356	1,440	1,860	2,082	2,715	2,886	3,039	3,290
Fixed Assets	162	161	169	201	214	268	354	400	447	435	465	571
CWIP	1	0	10	7	8	67	20	16	16	36	49	9
Investments	0	19	89	84	92	45	42	102	851	919	899	1,094
Other Assets	561	536	666	862	1,043	1,061	1,444	1,564	1,401	1,496	1,626	1,616
Total Assets	725	717	934	1,155	1,356	1,440	1,860	2,082	2,715	2,886	3,039	3,290

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	89	131	130	54	153	139	222	-33	416	350	444	388
Cash from Investing Activity +	-17	-32	-106	-27	-50	-110	41	-133	-774	-107	-77	-299
Cash from Financing Activity +	-72	-94	-16	-37	-24	-90	-6	-61	328	-232	-372	-88
Net Cash Flow	-1	5	8	-10	80	-61	257	-227	-30	11	-5	2
Free Cash Flow	77	117	88	13	102	55	157	-110	365	267	342	264
CFO/OP	90%	102%	93%	51%	94%	85%	96%	16%	153%	118%	127%	115%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Free Cash Flow	77.00	117.00	88.00	13.00	102.00	55.00	157.00	-110.00	365.00	267.00	342.00	264.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	51	51	55	55	70	65	47	52	50	47	44	35
Inventory Days	82	74	57	68	70	75	105	124	129	87	83	88
Days Payable	57	55	42	54	74	72	66	93	68	55	56	65
Cash Conversion Cycle	76	70	70	68	66	68	86	83	111	79	71	59
Working Capital Days	46	51	58	58	69	67	74	71	88	50	37	37
ROCE %	27%	28%	37%	37%	26%	26%	26%	26%	22%	14%	16%	17%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	55.63%	54.56%	54.48%	54.42%	54.40%	54.36%	54.30%	54.28%	53.33%	53.28%	53.22%	53.22%
FIIs	13.16%	13.01%	13.34%	13.90%	13.85%	13.72%	13.43%	12.55%	12.45%	12.12%	12.07%	12.01%
DIIs	19.37%	20.45%	20.18%	20.16%	19.88%	20.25%	20.63%	21.61%	22.86%	23.32%	23.39%	23.24%
Public	11.84%	11.96%	11.99%	11.51%	11.88%	11.69%	11.64%	11.55%	11.35%	11.27%	11.32%	11.52%
No. of Shareholders	1,18,152	1,18,276	1,19,562	1,15,823	1,40,417	1,32,003	1,32,948	1,33,000	1,32,841	1,30,218	1,33,257	1,33,376

Shareholding Pattern Chart

No. of Shareholders

V-Guard Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Kotak Small Cap Fund	8,020,673	1.52	264.84	N/A	N/A	N/A
Aditya Birla Sun Life Flexi Cap Fund	7,852,012	1.01	259.27	7,817,659	2026-06-10 05:32:41	0.44%
ICICI Prudential Multi Asset Fund	7,516,856	0.3	248.21	6,817,362	2026-06-11 11:28:06	10.26%
ICICI Prudential Large & Mid Cap Fund	6,674,149	0.74	220.38	6,161,926	2026-06-10 05:32:41	8.31%
ICICI Prudential Value Fund	6,008,503	0.33	198.4	5,912,583	2026-06-10 05:32:41	1.62%
Kotak Balanced Advantage Fund	2,944,267	0.57	97.22	N/A	N/A	N/A
ICICI Prudential Multicap Fund	2,703,199	0.53	89.26	2,875,739	2026-03-24 00:33:18	-6%
Aditya Birla Sun Life Multi-Cap Fund	2,307,963	1.15	76.21	N/A	N/A	N/A
Kotak Large Cap Fund	2,050,000	0.64	67.69	N/A	N/A	N/A
ICICI Prudential Bharat Consumption Fund	1,772,551	1.91	58.53	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	1.00	1.00	1.00	1.00	1.00
Basic EPS (Rs.)	7.17	5.89	4.38	5.29	4.68
Diluted EPS (Rs.)	7.14	5.88	4.35	5.25	4.65
Cash EPS (Rs.)	9.39	7.79	5.87	6.43	5.59
Book Value[Excl.RevalReserv]/Share (Rs.)	48.14	41.76	37.20	32.73	28.27
Book Value[Incl.RevalReserv]/Share (Rs.)	48.14	41.76	37.20	32.73	28.27
Revenue From Operations / Share (Rs.)	127.99	111.80	95.47	81.06	63.26
PBDIT / Share (Rs.)	12.26	10.61	7.78	8.13	7.74
PBIT / Share (Rs.)	10.06	8.74	6.29	6.99	6.84
PBT / Share (Rs.)	9.50	7.83	5.92	6.81	6.70
Net Profit / Share (Rs.)	7.20	5.93	4.37	5.29	4.69
NP After MI And SOA / Share (Rs.)	7.20	5.93	4.38	5.28	4.67
PBDIT Margin (%)	9.57	9.48	8.15	10.03	12.23
PBIT Margin (%)	7.86	7.82	6.59	8.62	10.81
PBT Margin (%)	7.42	7.00	6.19	8.40	10.58
Net Profit Margin (%)	5.62	5.30	4.58	6.53	7.41
NP After MI And SOA Margin (%)	5.62	5.30	4.58	6.50	7.37
Return on Networth / Equity (%)	14.95	14.19	11.76	16.18	16.57
Return on Capital Employeed (%)	18.93	17.59	13.00	20.39	22.94
Return On Assets (%)	9.39	8.14	6.50	10.85	10.71
Long Term Debt / Equity (X)	0.00	0.07	0.16	0.00	0.00
Total Debt / Equity (X)	0.01	0.16	0.26	0.01	0.01
Asset Turnover Ratio (%)	1.72	1.60	1.65	1.76	1.63
Current Ratio (X)	1.71	1.63	1.84	2.47	2.36
Quick Ratio (X)	0.73	0.82	0.90	1.07	1.30
Inventory Turnover Ratio (X)	6.17	2.15	1.67	1.86	1.58
Dividend Payout Ratio (NP) (%)	19.41	21.88	29.66	22.67	0.00
Dividend Payout Ratio (CP) (%)	14.87	16.65	22.12	18.64	0.00
Earning Retention Ratio (%)	80.59	78.12	70.34	77.33	0.00
Cash Earning Retention Ratio (%)	85.13	83.35	77.88	81.36	0.00
Interest Coverage Ratio (X)	21.79	11.65	20.77	44.54	54.57
Interest Coverage Ratio (Post Tax) (X)	13.80	7.51	12.68	29.99	34.10
Enterprise Value (Cr.)	15530.52	14631.85	11161.41	9279.46	10581.58
EV / Net Operating Revenue (X)	2.78	3.01	2.71	2.65	3.89
EV / EBITDA (X)	29.08	31.76	33.18	26.44	31.79
MarketCap / Net Operating Revenue (X)	2.79	2.96	2.62	2.67	3.99
Retention Ratios (%)	80.58	78.11	70.33	77.32	0.00
Price / BV (X)	7.43	7.94	6.72	6.63	8.95
Price / Net Operating Revenue (X)	2.79	2.96	2.62	2.67	3.99
EarningsYield	0.02	0.01	0.01	0.02	0.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

What is the intrinsic value of V-Guard Industries Ltd and is it undervalued?

V-Guard Industries Ltd: the stored intrinsic value estimate is ₹111.59, compared with a stored share price of ₹309.00. The model value is 63.9% below that quote. The model classifies this as overvalued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for V-Guard Industries Ltd?

The stored share price is ₹309.00. Price-data record updated: 25 September 2026, 7:08 am +05:30. This is not a live quote. The stored 52-week high / low is 385/289; this is a rolling range, not a financial-year range.

How have V-Guard Industries Ltd's revenue and profit changed?

Does V-Guard Industries Ltd's profit convert into cash?

What should I check in V-Guard Industries Ltd's balance sheet?

Reported borrowings were ₹64.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How should I compare V-Guard Industries Ltd's P/E with other stocks?

The stored P/E is 41.50. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change V-Guard Industries Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.