Consumer electrical and electronics company V-Guard, announced its results for the third quarter ended 31st December, 2013 of FY 13-14. Commenting on the company’s performance, Mr. Mithun K. Chittilappilly, Managing Director, V-Guard Industries Ltd said the overall slowdown in Indian economy has affected the consumer goods industry to a considerable extent. However, focused efforts on various cost management measures has helped the company in retaining the margin. He said that the company is launching new series of inverters and stabilizers for the summer season.
Profit After Tax for the Quarter, ended 31st December, 2013-14 fiscal, was Rs. 17.53 crores; registering a growth of 14% over corresponding period of the last financial year (Rs. 15.35 crores).
Net Revenue from operations for the Third Quarter, ended 31st December, 2013-14 fiscal, were Rs. 352.93 crores; Net revenue operations for the corresponding period of last financial year were Rs. 349.04 crores.
Robust Sales was recorded in electric and solar water heaters during the quarter under review. A new model of Electric Water Heater, “Pebble” was launched in the premium category and the model has been well accepted in South India and the product will be taken to other States in the next financial year.
Sales of digital UPS and pumps have been very subdued and have recorded decline for the quarter which lead to overall flat growth in sales.
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 Switchgears and mixer grinder.