V-Guard’s net profit grew by 14% in Q3 of FY 2013-14
Kochi, 20th January, 2014:
Consumer electrical and electronics company V-Guard, announced its results for the third quarter ended 31st December, 2013 of FY 13-14
• 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 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
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.
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
V-Guard invests Rs. 18cr in solar heater unit
|Times of India|
V-Guard explores export option for solar water heaters
V-Guard new plant in Coimbatore to go on stream today
|The Hindu Business Line|
V-Guard Industries Moves Beyond South India
Kochi-based V-Guard is thinking pan-India and more than just stabilisers.Leading the charge is 33-year-old managing director Mithun ChittilappillyRead more
V-Guard ‘s net revenue from operations increases by 6.56% in Q2 of Financial Year 2013-14
Kochi, India – October 22, 2013:
Consumer electrical and electronics company V-Guard, announced its results for the second quarter ended September 30, 2013 of FY 13-14
• Net Revenue from operations for the Second Quarter, ending September 30, 2013-14 fiscal, were Rs.334.04 crores; an increase of 6.56% over corresponding period of last financial year (Rs 313.47 crores)
• Profit After Tax for the Quarter, ending September 30, 2013-14 fiscal, was Rs.14.48 crores; showing a decrease of 19.41% over corresponding period of last financial year (Rs.17.97 crores)
• Net Revenue from operations for the first six months, ending September 30, 2013-14 fiscal, were Rs. 742.20 crores; an increase of 17.35% over corresponding period of last financial year (Rs 632.46 crores).
• Profit After Tax for the first six months, ending September 30, 2013-14 fiscal, was Rs.32.13 crores; showing a decrease of 16.82% over corresponding period of last financial year (Rs.38.63 crores)
• Wires, Electric Water Heater and Solar Water Heater product segments performed well.
Commenting on the company’s performance, Mr.Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said “The company achieved 6.56% growth in the net revenue from operations during the second Quarter of FY13-14.The overall slowdown in Indian economy has affected the consumer durable industry to a considerable extent. Sales from south markets have not been encouraging as expected. Frequent shut down of markets due to Telangana issues has affected the sales from non-Hyderabad areas. He said that better power conditions across States and excess rain falls during monsoon has affected the sales of DU and Pumps to a considerable extent.
• Commissioned “Solar Water Heater” manufacturing facility at Perundurai, Tamil Nadu, the largest such factory by any company in India
• Launched new range of water heaters – Pebble – in two variants (Pebble & Pebble Metallica)
• Launched Mixer Grinder in Kerala Market during the quarter under review.
• Switch gears and induction cook tops, the New products already launched has been well received in Kerala market.
VGuard Press Release Doc
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Sparking investor interest
Taking a fresh guard
V-Guard Industries LTD Bags KMA Young Managers Contest 2013
V-Guard Industries Ltd has won the Young Managers Contest 2013 conducted by Kerala Management Association on 22nd Friday at Management House, Panampilly Nagar. The team consisted of Athira Gopal, Gowtham Premchand, John Mathew Sebastian and Vipin Kumar H. 12 teams from leading corporates battled it out in the final leg of the competition. This is the 5th time that V-Guard is winning this contest.
V-Guard Industries Ltd., maintains growth momentum; revenues increased by 42% net profit up by 23% in Third Quarter, 2012-13 Financial YearKochi, India – January 28, 2013
Revenues for the Third Quarter, ending December 31, 2012-13 fiscal, were Rs.349 crores; an increase of 42% over corresponding period last financial year (Rs.246.60 crores)
Profit After Tax for the Third Quarter, ending December 31, 2012-13 fiscal, were Rs.15.35 crores; an increase of 23% over corresponding period last financial year (Rs.12.45 crores)
During the quarter under review, advertisement spend has increased by 141% percent resulting in reduction in margins.
New products – launched switch gears and induction cook tops which were launched recently in South India has been well accepted.
Digital UPS, Electric & Solar Water Heaters and Wires performed exceptionally well, contributing to 56% to total revenue
Revenues for the first nine months of 2012-13 financial year increased by 42% over corresponding period of previous fiscal to Rs.981.31 crores.
“We intend to continue to grow our business across all Product Verticals to maintain the momentum this year as well and the products, stabilizers, wires, pumps and Digital UPS are expected to perform well in the fourth quarter of the fiscal. The Company is planning to launch Mixer Grinder during the first quarter of the next fiscal. The new products, switch gears and induction cook tops will be launched in the other markets in a phased manner ,” said Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd.
V-Guard Industries: A re-rating story playing out on the boursesThe Economic Times, 5 Dec 2012: The stock of branded electrical equipments manufacturer V-Guard, which has been gaining new ground since past few trading sessions, has again hit a new high of Rs 541.80 on BSE today. The Kerala-based company is engaged in the manufacture of stabilisers, cables, pumps and motors, geysers, water heaters, fans, UPS and switchgears. The company has been aggressively focussing on expanding its product line under the brand 'V-Guard'.
The company's stock price has increased more than six-fold after listing on the bourses in early March 2008. In the last six fiscal years, the company's net sales has increased four-fold to Rs 1000 crore while its net profit has tripled to Rs 50 crore for the fiscal year 2012. For the trailing four quarters, the company's topline has grown 38% while its operating profit grew by 63%. The company spent nearly 7% of its revenues on advertising and promoting its products.
The company is growing strongly in both South as well as non-South markets. While it is consolidating its position in the four states of South India, it is aggressively expanding its distribution network and market share in the rest of the states in India. UP and Punjab are the two non-South states where the company is doing very well. The company has opened two new branches in Guwahati and Patna respectively during the first half of the fiscal making it a total of 15 branches in the non-South region. The company's performance in the second half of the fiscal has historically been better than that logged in the first half. With a strong performance in the first half of the fiscal characterized by increased penetration and growing market share, the company is all set to meet its target of 13% growth in topline for the entire fiscal year.
The stock price has undergone re-rating by almost tripling in the last one year. With a market cap of over Rs 1,500 crore, the company's stock is valued at 1.5 times its trailing four quarters net sales. The consumer goods stock has further room to appreciate as the company improves its cash flow position on account of its steadily improving performance.
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V-Guard's Q2 net profit vaults by 163% to Rs17.97crores
Kochi 1st November, 2012: 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 September, 2012.
The profit after tax for the second quarter of the fiscal 2012-13 increased to Rs17.97 crores, which is 163% up over the profit after tax of Rs6.84 crores achieved during the corresponding quarter of previous year. The net turnover of the Company for the quarter under review was Rs313.41 crores showing an increase of 48%, from the net turnover of Rs211.43crores, achieved during the corresponding quarter of the previous year.
Mithun Chittilappilly, Managing Director of the Company said that the remarkable growth was seen in the sales of products like Digital UPS, single and three phase pumps, wires and LT Cables. He said that growth in profit is due to better volume growth and tight cost control measures adopted by the Company.
The Board of V-Guard Industries Ltd., informed that Mr. P G R Prasad, Chairman of Board has resigned from the position and the Board has re-designated Mr. Kochouseph Chittilappilly, as the Chairman of the Company. The Board has also appointed Mr. Cherian N Punnoose, Chartered Accountant, as an independent Director of the Company and he has also been appointed as the Vice-Chairman of the Board. Mr. Cherian N. Punnoose had served as an Advisor of Finance and Director of Kochi Refineries Ltd., a subsidiary of Bharat Petroleum Corp. Ltd and also as a Director of Petronet CCK Ltd.
Mithun Chittilappilly, Managing Director, said that considering the demand for Solar Water Heater, it has been decided to expand manufacturing capacity for this product. The new Perundurai solar water heater plant will have a capacity of close to 90,000 units per annum making it one of the largest integrated facilities in India. He said that the Company will be launching induction cook tops in the State of Karnataka, in the second half of the current financial year.
V-Guard's Q1 net profit surges by 67% to Rs20.65 crores
Kochi 7th August, 2012: 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, 2012.
The profit after tax for the first quarter of the fiscal 2012-13 increased to Rs20.65crores, which is 67% up over the corresponding quarter of previous year. The netturnover of the Company for the first quarter was Rs329.00crores, showing an increase of 37%, from Rs240.00crores, the net turnover for corresponding quarter of the previous year.
Mithun K Chittilappilly, Managing Director of the Company said the sales growth has been driven by growth in sales of all product verticals owing to better than expected summer season. He said that margin improvement is due to better volume growth and tight cost control measures adopted by the Company.
He said that expansion work on doubling the capacity of Kashipur house wiring plant with an investment of 18 crores has been commenced. He added that the Company will set up large warehouse facilities at Perundurai and Hyderabad to augment its supply chain facilities in the respective regions.
The Company has successfully launched domestic switch gears and induction cook tops in Kerala and saidnew products will be launched in other states of the country in a phased manner.
The spike in V-Guard's Business
V-Guard Launches Pedestal Fan with MMD Technology
V-Guard aims at 25% growth this fiscal
|The Hindu Business Line||Business Standard|
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V-Guard's net profit for Q4 of 2011-12 up by 70%
Recommends dividend of 35%
Kochi 30thMay, 2012: The Board of Directors of V-Guard Industries Limited, the electronic and electrical major today considered and adopted the audited financial results of Company for the year ended 31st March, 2012.
The profit after tax for the fourth quarter of the fiscal 2011-12was Rs19.17 crores, which is 70% up over the profit after tax of Rs11.29 crores, without considering exceptional profit,achieved during the corresponding quarter of previous year. The net turnover of the Company for the last quarter was Rs276.46 crores, showing an increase of 24%, from Rs222.35crores, the turnover for corresponding quarter of the previous year.
The profit after tax for the fiscal year 2011-12was Rs50.80 crores, which is 28% up over the profit after tax of Rs39.70 crores, without considering exceptional profit achieved during the previous year. The gross revenue from operations of the Company for the financial year was Rs1,006.53crores, showing an increase of 36%, from Rs737.47crores, the gross revenue from operations for the previous year. Considering the improved profit, the Board of Directors recommends payment of dividend at the rate of 35% i.e. Rs3.50 per share.
Mithun K Chittilappilly, Managing Director of the Company said that margins for the quarter under review has improved mainly due to better product mix and cost control measures implemented by the Company. He said that demand for all the product verticals were good and contributed to the robust sales growth.
He said that the company is planning to spend Rs25.00 crores as capex for the current financial year which includes doubling of its wire plant capacity at Kashipur.
|The Times of India||Deccan Chronicle|
V-Guard Industries Ltd., crosses Rs1000 crores in turnover
V-Guard Industries Ltd- one of India's top electrical & electronics majors has crossed a gross turnover of Rs.1000 crores for the financial year 2011-12. A point to be noted is that V Guard had achieved a turnover of 100 crores in 2000 and has grown by a whopping 10 times in the last 11 years. Speaking on the occasion Mr. Mithun Chittilappilly, Managing Director of V Guard Industries Ltd, commented "This monumental achievement has been made possible because of the long standing support of our employees, channel partners and our commitment to serving quality products to our consumers". Mr. Mithun Chittilappilly also mentioned about the appointment of Mr. V Ramachandran as Director - Marketing and Strategy from April 2012.Mr. Ramachandran brings with him cross functional expertise across both domestic and global markets and a rich work experience of over 25 years with leading companies like Unilevers and LG Electronics.
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V-Guard Group: Looking ahead
Mr. Kochouseph Chittilappilly, Founder, V-Guard Industries Ltd – one of India's top electrical & electronics major informed that there has been a re-structuring at the top management in the company. The decision was taken at the Board Meeting held recently. Mr. Kochouseph Chittilappilly said that his younger son Mr. Mithun Chittilappilly has become the Managing Director of V-Guard Industries Ltd and has taken charge of his new office on April 2, 2012. Mr. Kochouseph Chittilappilly, will now continue in the role of Vice Chairman of V-Guard Industries Limited.
The appointment of Mr.V.Ramachandran as Director-Marketing & Strategy from April 2012 was also announced. Mr.Ramachandran, a leading Management Professional, brings with him over 25 years of cross functional experience across blue chip companies like Hindustan Unilever Ltd, LG Electronics etc. His last assignment was as Director and Chief Strategy Officer : LG Electronics, South West Asia Region. On Mr.Ramachandran's appointment, Mr. Kochouseph Chittilappilly commented "Ramachandran's cross functional expertise, rich experience and exposure to the global markets will help V-Guard to achieve its next phase of growth".
V Guard Industries Ltd. implements SAP
SAP ECC was implemented in the company in a record time of 6 months. It covers Sales & Distribution, Finance & Controlling, Material Management, Production Planning, and Quality Systems. The system was implemented in partnership with IBM Global Solutions and HP.
V-Guard's net sales up by 45 % and net profit up by 46% for Q3 of 2011-12
Kochi 31st January, 2012:
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 31st December, 2011.
The net sales of the Company rose to Rs256.86 crores, showing an increase of 45%, from net sales of Rs176.80 crores, achieved in the corresponding period of the previous year. The Company achieved a profit after tax of Rs12.45 crores during the quarter under review, thereby showing an increase of 46% over the profit after tax of Rs8.55 crores achieved in the corresponding period of the previous year.
The net sales of the Company for the first nine months ended rose to Rs715.96 crores, showing an increase of 42%, from net sales of Rs503.75 crores, achieved in the corresponding period of the previous year.
Mithun K Chittilappilly, Executive Director, said that product verticals like Motor pumps, cables, Digital UPS and stabilizers have contributed to sales growth. He said that Management has introduced various cost control initiatives which has resulted in improved margins in the current inflationary environment.
Dr. George Sleeba, Joint Managing Director said that the new solar water heater plant with new and improved technology built at a cost of Rs10.50 crores will become operational in February 2012.
V-Guard's net sales for Q2 of 2011-12 up by 38 %
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 September, 2011.
The net sales of the Company rose to Rs219.02 crores, showing an increase of 38%, from net sales of Rs158.74 crores, achieved in the corresponding period of the previous year. The Company achieved a profit after tax of Rs6.84 crores during the quarter under review, which is less by 22% when compared with the profit after tax for the corresponding quarter of the previous year, which was Rs8.78 crores. The figure relating to net profit after tax was less by 3.4% for the half year ended 30th September, 2011 when compared to the corresponding period of the last year.Decline in profit was due to unfavourable market conditions, increased selling expenditure and material cost and also the overheads.
The net sales of the Company for the first six months ended rose to Rs459.09 crores, showing an increase of 40%, from net sales of Rs326.95 crores, achieved in the corresponding period of the previous year.
Mithun K Chittilappilly, Executive Director, said that sales of major product lines such as Cables, Stabilizers, Pumps and electric water heater were good. He said that though there is a strain on the profitability, the Company was able to keep the growth momentum and expects to do better in the coming season. He also added that the Company is going ahead with the capex plans approved and expects the completion of the projects by the end of this fiscal.
V Guard receives MNRE CRISIL rating for Solar Water Heater Division
The Solar Water Heater Division was awarded the prestigious MNRE – CRISIL rating which indicates High performance Capability and moderate Financial Strength of the company to undertake off grid projects in Solar Thermal Technology. The Ministry of New and Renewable Energy accredits companies that have efficient products and capabilities for this certification.
V-Guard announces the 'Big Idea- Business Plan Contest 2011' for MBA & B- Tech students.
V- Guard, the consumer electrical and electronic major, is launching a business plan contest. The V- Guard 'Big Idea Business Plan Contest' is aimed at promoting a spirit of entrepreneurship and innovation among MBA & B-Tech students across India. The contest provides a unique opportunity to students to get creative, propose new business avenues for V- Guard and draw up a business plan on what they think should be V- Guard's next move for growth, differentiation and leadership.The contest comprises of different phases. The teams have to register online before 5th September, 2011 .The registered teams would be sent an online brief. The teams would then have to submit a short executive summary of their business plan for V-Guard. The top 20 teams shortlisted will then advance to the contest's finals. In this phase, each team will be mentored by a V- Guard Manager and should submit their final written report of the plan on or before 15th October 2011. This will be followed by an oral presentation before the Top Management of V- Guard. The performance of the teams would be evaluated based on the written report and the oral presentation .The first prize is Rs. 1, 00,000, the second prize Rs. 50,000 and third prize Rs 25,000.
The Business Plan Contest Finals will be held on October 21st and 22nd, 2011.
For more details, please visit our website www.vguard.in or contact
Mr John Mathew Sebastian (Mob: 9746377000)
V-Guard’s net sales for Q1 of 2011-12 up by 43%
Kochi 26th July, 2011: 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 Rs240.07 crores, showing an increase of 43%, from Rs168.21 crores, sales in the corresponding period of the previous year. The Company achieved a profit after tax of Rs12.34 crores during the quarter under review, thereby showing an increase of 11.38% over the profit after tax of Rs11.08 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 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 Rs6.34 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 art facility for manufacture of Solar Water Heater at the SIPCOT Industrial area at Perundurai, near Erode Dist., at an estimated cost of Rs8.50 crores. He said that solar water heaters of different capacities will be manufactured with new technology and the commercial production will commence in the last quarter of the financial year 2011-12. He added that other expansion plans for the year includes increasing the manufacturing capacities of LT Cable factory at Coimbatore and water heater and fan unit at Kala Amb and increasing the ware housing 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 Rs3.50 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 appliance market. Designed and developed by V-Guard’s ISO certified R&D, this ‘essential stabilizer’ range includes various models to suit different types of washing machines like the VM300 for washing machines without water-heating function and 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 on a daily basis, is extremely vulnerable to voltage variations, which is why it needs the V-Guard protection. A sudden surge in voltage or high voltage can affect machines adversely and so does working on low voltage, leading to possible damage of the PCB (Printed Circuit Board) and internal circuits. As repairing and replacement of circuit boards of washing machines are very expensive, it is essential that they be provided reliable protection against this menace, which strikes unpredictably, 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 works in a wide input range. These stabilizers can also be used for treadmills and microwave ovens as well.
V-Guard’s net profit for Q4 of 2010-11 up by 85.57% And Recommends dividend of 35%
Kochi 17th May, 2011: The Board of Directors of V-Guard Industries Limited, the electronic and electrical major today considered and adopted the audited financial results of Company for the year ended 31st March, 2011.
The profit after tax before exceptional profit for the fourth quarter of the fiscal 2010-11 increased to Rs11.29 crores, which is 85.57 % up over the corresponding quarter of previous year. The turnover of the Company for the last quarter was Rs222.59 crores, showing an increase of 56.46%, from Rs142.27crores, the turnover for corresponding quarter of the previous year.
The profit after tax before exceptional profit for the fiscal year 2010-11 increased to Rs39.70 crores, which is 55.84 % up over the previous year. The turnover of the Company for the financial year was Rs726.34 crores, showing an increase of 59.96 %, from Rs454.09 crores, the turnover for the previous year. Considering the improved profit, the Board of Directors recommends payment of dividend at the rate of 35 % i.e. Rs3.50 per share.
Mithun K Chittilappilly, Executive Director of the Company said that the surge in the top line and profit is mainly due to the strategy of foraying into the new markets which has paid off well. The contribution from non-south Indian markets to the turnover is more than Rs160.00 crores in the fiscal 2010-11.
Dr. George Sleeba, Joint Managing Director said that the Company has fully utilized the proceeds of the IPO for commissioning of various projects mentioned in the offer document and the remaining two projects i.e distribution centre in Hubli and Vijayawada will be completed in the third quarter of the current fiscal. He added that, “The total estimated capex for the financial year 2011-12 is more than Rs20.00 crores which includes setting up of a manufacturing facility for solar water heater at Perundurai with improved technology”.
V-Guard is Official Partner to Kochi Tuskers
Kochi: V-Guard- India’s leading electric and electronics major is the official partner to Kerala’s 20-20 IPL Team Kochi Tuskers Kerala. This prestigious partnership will give V-Guard the opportunity to feature Sri Lankan Cricketers Mahela Jayawardane, Muttiah Muralitharan and Indian Batsman VVS Laxman in their brand association promotions. The V-Guard logo will also have pride of place on the leading arm jersey of all players in the Kochi Tuskers team.
Mahela Jayawardane, the Sri Lankan Cricket Star and captain of the Kochi Tuskers team, who is just coming off a brilliant century in the 2011 World Cup Finals along with Muttiah Muralitharan, the leading wicket taker in the word of test cricket and with ace Indian Batsman VVS Lakshman, one of India’s most reliable players who can change the course of the match with his brilliant batting skills and consistent performance forms the key association ambassadors of V-Guard .Sources from the company informed that they have chosen these three stars from the team for their brand promotion as they are among the most reliable players in the cricketing world and live up to the very meaning of V-Guard’s famous punchline- “the name you can trust”.
Annual Young Managers contest, 2011
V-Guard Industries Ltd bagged the prestigious 29th Annual Young Managers contest, 2011, organized by Kerala Management Association (KMA) on 18th Feb 2011. Coming in ahead of many large corporate houses including IOC, BPCL, Cochin Shipyard, Federal Bank, MRF, Binani Zinc, IBS software, HML, among others. The topic was “Managing a growing Metropolis”.
It is indeed a great achievement for us. CONGRATULATIONS to the team members - Mr. Praveen V. K, Mr. John Mathew Sebastian, Mr. Vinay Suthan and Ms. Salini John, for this outstanding achievement.
The awards will be distributed at a ceremony to be held on Monday 21st Feb 2011 at 5 pm at Gokulam Convention Centre, Kaloor.
ROTARY-BINANI ZINC CSR AWARD
Malayala Manorama - 03/02/2011
V-Guard Q3 Turnover up by 48 % and Profit After Tax up by 63%
Kochi: 20th January, 2011: 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 Rs176.80 Cr. achieving a growth of 47.76% over the Net Turnover of Rs119.65 Cr. for the corresponding quarter of the previous year. The Profit Before Tax for the period under review increased to Rs11.88 Cr., showing an increase of 49.05% over Q3 Profit Before Tax of Rs7.97 Cr., achieved during FY 2009-10.
The Company recorded 62.55% rise in the Profit After Tax (PAT) at Rs8.55 Cr. in the current Q3 against Rs5.26 Cr., PAT in Q3 of last year.
During the current fiscal 2010-2011 the Company crossed yet another milestone, by achieving a net turnover of Rs503.74 Cr. 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 Rs41.01 Cr., which has increased by 36.47%, over the Profit Before Tax of Rs30.05 Cr for the corresponding first nine months period ended of 2009-10. The Company achieved a Profit After Tax of Rs28.41 Cr., for the first nine months period ended 31st December, 2010, showing an increase of 46.52% over the Profit After Tax of Rs19.39 Cr., for the corresponding period of the last year.
Mithun K Chittilappilly, Executive Director of the Company said that the surge in top line was mainly due to the good growth shown by wires and Cable segment and electrical water heaters.
He added that successful launch for various models for the all the products have contributed for achieving better turnover. He said that there has been increased acceptance of the brand and products on a Pan India level.
He highlighted that focus has been given to strengthen the marketing activities both in the existing and newer markets and the involvement of dealers in strengthening the marketing activities has also been quite encouraging.
Dr. George Sleeba, Joint Managing Director said that the Company has utilized 95% of the IPO proceeds for commissioning the various projects mentioned in the offer document and the remaining two projects i.e 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 the also 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, in addition to the extensive open area in all floors and retiring rooms for visitors and guests.
Nestled in 1.5 acres of greenery, all 12 floors of the building has a 2 meter verandah lined with flower beds on the periphery, which occupies 20% of the total construction area.
The uniqueness advantage of this design is natural cooling, as the verandas and plants blocks direct sunlight and heat, which brings down the temperature within the building naturally and restricting the use of Air Conditioning to just 5% of the area, hence saving a huge amount of energy.
Being Environment friendly, Rain Water harvesting has been effectively implemented with a 3,30,000 litre capacity tank in which all rain water that falls on the roof collected and then treated and used for drinking, domestic and irrigation purposes. The additional source of water is a well in the compound itself; and the water is treated through various processes to make it suitable drinking and domestic use. The water used for washing and flushes are collected, recycled and treated properly in a sewage treatment plant, and inturn used irrigating gardens in all 12 floors and as well on the ground through an automated irrigation system that ensures minimum water wastage. The property also maintains “Zero Discharge” policy as per Pollution Control Norms.
The building materials used too have been selected carefully to minimize impact on environment.