V-Guard Industries Limited Announces Unaudited Financial Results for the Third Quarter and Nine Months Ended December 31, 2012; Reaffirms Earnings Guidance for Fiscal 2013
January 28, 2013 at 08:05 am EST
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V-Guard Industries Limited announced unaudited financial results for the third quarter and nine months ended December 31, 2012. For the quarter, the company reported net sales/income from operations (net of excise duty) of INR 3,481.052 million against INR 2,438.560 million a year ago. Profit from operations before other income, finance cost and exceptional items was INR 228.451 million against INR 202.302 million a year ago. Profit from ordinary activities before tax was INR 193.681 million against INR 164.099 million a year ago. Net profit for the period was INR 153.521 million or INR 5.14 per basic and diluted share against INR 124.505 million or INR 4.17 per basic and diluted share a year ago. The company reported top-line growth of 42% driven by broad-based growth across Electronics and Electricals product categories. Non-south expansion continues at a faster rate contributing to 23% of the total turnover. EBITDA was INR 270 million against INR 230 million last year.
For the nine months, the company reported net sales/income from operations (net of excise duty) of INR 9,771.362 million against INR 6,852.076 million a year ago. Profit from operations before other income, finance cost and exceptional items was INR 814.514 million against INR 534.826 million a year ago. Profit from ordinary activities before tax was INR 708.450 million against INR 423.343 million a year ago. Net profit for the period was INR 539.773 million or INR 18.08 per basic and diluted share against INR 316.333 million or INR 10.60 per basic and diluted share a year ago. EBITDA was INR 930 million against INR 620 million last year.
Given the strong performance reported thus far, the company is confident of achieving top-line expectations of over 35% growth for fiscal 2013 and EBITDA margins to remain in the 9.5% - 10% band.
V-Guard Industries Limited is an India-based company, which is engaged in manufacturing, trading, and selling electronic products. The Company operates through four segments: Electronics, Electricals, Consumer Durables, and Sunflame. Electronics include stabilizers, digital uninterruptible power supply (UPS) and solar inverters. Electricals include Polyvinyl Chloride (PVC) insulated cables, switch gears, pumps, and modular switches. Consumer Durables include electric water heaters, solar water heaters, fans, kitchen appliances and air coolers. Sunflame includes products sold under the trademark Sunflame and Superflame. Sunflame brand has a rich legacy in the kitchen and small domestic appliances industry and its portfolio includes chimneys, cooktops, cookers, and other small appliances. Its products include voltage stabilizers, inverters, inverter batteries and solar power systems, electric, solar and heat pumps, water heaters, wires and cables, fans, kitchen appliances, and others.
V-Guard Industries Limited Announces Unaudited Financial Results for the Third Quarter and Nine Months Ended December 31, 2012; Reaffirms Earnings Guidance for Fiscal 2013