India’s leading consumer electrical and electronics company, V-Guard Industries Ltd., announced its results for the third quarter ended December 31, 2014 of FY 14-15. Commenting on the company’s performance, Mr. Mithun K. Chittilappilly, Managing Director, V-Guard Industries Ltd. says, “The business outlook remains positive; we continue to see an enhanced demand for certain categories of our products, considering the forthcoming season. We plan to launch mixer grinders into the markets of Karnataka and new range of fans across south markets during the last quarter of the fiscal."
Net Revenue from operations for the Third Quarter, ending December 31, 2014-15 fiscal, were Rs. 395.37crores; an increase of 12.02% over corresponding period of the last financial year (Rs 352.93 crores).
Profit After Tax for the Quarter, ending December 31, 2014-15 fiscal, was Rs. 9.23 crores; showing a decrease of 47.35% over corresponding period of the last financial year (Rs. 17.53 crores).
During the quarter under review, significant amount was spent on advertisement and product launch activities resulting in reduction in margins.
Electric Water Heater Model Pebble performed exceptionally well across the markets.
Reduction in commodity prices have forced to write down inventory values which also affected profit margin.
About V-Guard Industries Ltd
V-Guard Industries Limited is a Kochi based company, incepted in 1977 by Mr. Kochouseph Chittilapilly to manufacture and market Voltage stabilizers. What started in 1977 with two employees and a burning passion is now a force to reckon with in the Indian electric and electronic goods panorama. The company has since then established a strong brand name and aggressively diversified to become a multi-product company catering to the Light Electricals sector manufacturing Voltage stabilizers, Invertors & Digital UPS systems, Pumps, House wiring/LT cables, Electric water heaters, Fans, Solar water heaters and has also recently forayed into Induction cooktops, Mixers and Grinders and Switchgears.