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October


22


2013

October 22/2013

V-Guard's net revenue from operations increases by 6.56% in Q2 of Financial Year 2013-14


Consumer electrical and electronics company V-Guard, announced its results for the second quarter ended September 30, 2013 of FY 13-14.

Highlights:

  • 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 the 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 the 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 the last financial year (Rs.38.63 crores).

  • Wires, Electric Water Heater and Solar Water Heater product segments performed well.

Business Outlook:

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 FY 13-14.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.

Key developments:

  • 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.

V-GUARD

V-GUARD offers a range of products from Voltage Stabilizer to Digital UPS, Inverter and Inverter Batteries, Electric Water Heaters, Solar Water Heaters, Domestic Pumps, Agricultural Pumps, Industrial Motors, Domestic Switch Gears, Distribution Boards, Wiring Cables, Industrial Cables, Induction Cooktops, Mixer Grinders, Fans, Rice Cooker, Gas Stoves & Solar Power Systems.

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