The Board of Directors of V-Guard Industries Limited, the electronic and electrical major, today considered and adopted the unaudited financial results of Company for the quarter ended 30th June, 2011.
The net sales of the Company rose to Rs. 240.07 crores, showing an increase of 43%, from Rs. 168.21 crores, sales in the corresponding period of the previous year. The Company achieved a Profit After Tax of Rs. 12.34 crores during the quarter under review, thereby showing an increase of 11.38% over the Profit After Tax of Rs. 11.08 crores, achieved in the same period of the last year.
Mithun K. Chittilappilly, Executive Director of the Company, said that increased product variants, better distribution network and improved brand recall levels are the factors for an increase in the top line. He added that both South and non-South markets in India have contributed to achieve the desired sales. The Selling and Distribution expenses, during the quarter, include an expenditure towards advertising in the Indian Premier League (IPL) TV campaign and sponsoring of one team in IPL 2011, amounting to Rs. 6.34 crores, which was nil during the previous year.
Dr. George Sleeba, Joint Managing Director, said that the Company is coming out with a state-of-the-art facility for the manufacture of solar water heaters at the SIPCOT Industrial area at Perundurai, near Erode Dist., at an estimated cost of Rs. 8.50 crores. He said that solar water heaters of different capacities will be manufactured with new technology and commercial production will commence in the last quarter of the financial year 2011-12. He added that other expansion plans for the year included increasing the manufacturing capacities of the LT Cable factory at Coimbatore and the water heater and fan unit at Kala Amb and also increasing the warehousing facilities at Bangalore, Palakkad and Kochi.
The Company’s 15th Annual General Meeting was held on 25th July, 2011, at Kochi and the members approved the dividend of Rs. 3.50 per share for the financial year 2010-11.
The Cool Office
V-Guard introduces stabilizers for Washing Machines
The new range of stabilizers for washing machines from V-Guard, India’s No.1 Stabilizer brand, is creating waves in the electronic appliances market. Designed and developed by V-Guard’s ISO certified R&D, this ‘essential stabilizer’ range includes models designed to suit different types of washing machines like the VM300 for washing machines without water-heating function and the VM 500 & WCS 500 that are suitable for all kinds of washing machines, including semi-automatic and fully-automatic versions.
The washing machine, an electronic appliance that is used daily, is extremely vulnerable to voltage variations, which is why it needs V-Guard protection. A sudden surge in voltage, high voltages, or even low voltages, can affect washing machines adversely, leading to possible damage of the PCB (Printed Circuit Board) and internal circuits. As the repair and replacement of washing machine circuit boards is very expensive, it is essential that they be provided reliable protection against this unpredictable risk, with V-Guard Stabilizers.
Equipped with the latest technology, these wall-mountable stabilizers come with advanced features like high/low voltage cut-off, primary switching technology, high power efficiency, mains turn-on delay, compact design and wide input range operation. These stabilizers can also be used to protect treadmills and microwave ovens.