The Board of Directors of V-Guard Industries Limited, the electronics and electrical major, today considered and adopted the unaudited financial results of the Company for the quarter ended 31st December, 2010 (Q3).
The net turnover of the Company during the quarter rose to Rs. 176.80 crores achieving a growth of 47.76% over the net turnover of Rs. 119.65 crores for the corresponding quarter of the previous year. The Profit Before Tax for the period under review increased to Rs.11.88 crores, showing an increase of 49.05% over Q3 Profit Before Tax of Rs. 7.97 crores, achieved during FY 2009-10.
The Company recorded 62.55% rise in the Profit After Tax (PAT) at Rs. 8.55 crores in the current Q3 against Rs. 5.26 crores, PAT in Q3 of last year.
During the current fiscal 2010-2011, the Company crossed yet another milestone, by achieving a net turnover of Rs. 503.74 crores, for the first nine months of the fiscal 2010-2011. The growth in turnover for the first nine months period ended is 61.55%.
The Profit Before Tax for the first nine months period ended is Rs. 41.01 crores, which has increased by 36.47%, over the Profit Before Tax of Rs. 30.05 crores for the corresponding first nine-month period ended of 2009-10. The Company achieved a Profit After Tax of Rs. 28.41 crores, for the first nine-month period ended 31st December, 2010, showing an increase of 46.52% over the Profit After Tax of Rs. 19.39 crores, for the corresponding period of the last year.
Mithun K. Chittilappilly, Executive Director of the Company said that the surge in the top line was mainly due to the good growth shown by the wires and cable segment and electrical water heaters.
He added that the successful launch of various models of all products has contributed to achieving a better turnover. He said that there has been increased acceptance of the brand and products on a pan-India level.
He highlighted that the focus has been on strengthening marketing activities in existing and newer markets, and the involvement of dealers in strengthening marketing activities has been quite encouraging.
Dr. George Sleeba, Joint Managing Director said that the Company has utilized 95% of the IPO proceeds for commissioning various projects mentioned in the offer document and the remaining two projects, i.e., the distribution centres in Hubli and Vijayawada, will be completed during the second quarter of next fiscal.
V-Guard Corporate office Wins Award for Architectural excellence.
V-Guard’s new Corporate Office has been awarded the “Gold Leaf Award” for Architectural Excellence - State level - in the Public and Semi Public Buildings Category for the year 2009-10, instituted by Indian Institute of Architects - Kerala Chapter.
The design of the corporate office building of V-Guard Industries Ltd, located at Vennala, Kochi, is a collaborative effort of Engineers at V-Guard and Veega Land, along with renowned Architect Roy Antony. The building, which is a stylish 12 storied structure, has been designed with the objective of creating an environment-friendly building by employing green building principles right from concept to commissioning. Besides the corporate office, the complex also houses V-Guard’s Research & Development Wing, various product groups and also the marketing division. Work stations have been provided for around 400 employees, along with a cafeteria that can accommodate 200 people, 4 conference Halls with seating capacity ranging from 20 to 200 persons and also a rooftop meeting place that can accommodate about 500 people. The office complex also has unique features like a roof garden, fitness centre, recreation room, library, extensive open areas on all floors, and retiring rooms for visitors and guests.
Nestled amongst 1.5 acres of greenery, all 12 floors of the building have a 2 meter veranda lined with flower beds on the periphery, which occupy 20% of the total construction area.
The unique advantage of this building’s design is the natural cooling, as the verandas and plants block direct sunlight and heat. This brings down the temperature within the building naturally and reduces the need for air conditioning to just 5% of the area, saving a huge amount of energy.
Being environment friendly, rain water harvesting has been effectively implemented with a 3,30,000 litre capacity tank. Rain water that falls on the roof is collected, treated and used for drinking, domestic and irrigation purposes. Another source of water is a well in the compound itself. This well water is treated to make it suitable for drinking and domestic use. Water used for washing and flushing is collected, recycled and treated in a sewage treatment plant. This recycled water is used for irrigating the gardens on all 12 floors, as well those at ground level, through an automated irrigation system that minimises water wastage.
The property maintains a “Zero Discharge” policy as per Pollution Control Norms. In addition, building materials used have been carefully selected to minimize impact on the environment.