V-Guard Industries Ltd (BOM:532953)
₹ 431.05 -6.25 (-1.43%) Market Cap: 187.67 Bil Enterprise Value: 188.69 Bil PE Ratio: 63.76 PB Ratio: 9.71 GF Score: 96/100
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Q4 2024 V Guard Industries Ltd Earnings Call Transcript

May 17, 2024 / 10:00AM GMT
Release Date Price: ₹369.7 (-1.12%)

Key Points

Positve
  • V-Guard Industries Ltd (BOM:532953) reported a consolidated net revenue of INR1,343 crores in Q4 FY24, marking a 17.9% YoY increase.
  • The consumer durable segment, including fans, water heaters, kitchen appliances, and air coolers, saw a significant top-line growth of 27.9% YoY in Q4.
  • The electronics segment, comprising stabilizers, inverters, and batteries, experienced an 18.9% YoY revenue growth.
  • Gross margins improved by 310 basis points YoY and 40 basis points QoQ in Q4 FY24.
  • The company has commenced commercial production at its new battery and kitchen appliances factories, which are expected to deliver benefits in the coming year.
Negative
  • Despite strong revenue growth, the company faces challenges in passing on price increases in the fan business due to competitive pressures.
  • The electronics segment's margins were impacted by product mix and EPR charges in the battery segment.
  • The consumer durable segment's margins remain below pre-COVID levels, with significant pricing pressures in the fan and water heater categories.
  • The integration of Sunflame is still in progress, with operational integration expected to take another 12 to 15 months.
  • The company anticipates further pricing actions may be necessary due to rising raw material costs, particularly in copper.
Operator

Ladies And Gentlemen, good day, and welcome to the V-Guard industries Q4 FY24 Earnings Conference Call Results hosted by ICICI Securities Limited. (Operator Instructions)

Please note that this conference is being recorded. I now hand the conference over to Mr. Aniruddha Joshi from ICICI Securities. Thank you, and over to you, sir.

Aniruddha Joshi;Mithun Chittilappilly
ICICI Securities - Analyst;V Guard Industries Ltd - Managing Director,

Thanks, Rikku. On behalf of ICICI Securities, we welcome you all to Q4 FY24 Results Conference Call of V-Guard Industries Limited. We have with us today senior management represented by Mr. Mithun Chittilappilly, Managing Director; Mr. Ramachandran V., Director and Chief Operating Officer; and Mr. Sudarshan Kasturi, Senior Vice President and Chief Financial Officer.

Now I hand over the call to the management for initial comments on the quarterly as well as annual performance, and then we will open the floor for a question-and-answer session. Thanks, and over to you, sir.

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