V-Guard Industries Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
October 31, 2023 at 05:03 am EDT
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V-Guard Industries Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 11,337.5 million compared to INR 9,865.5 million a year ago. Revenue was INR 11,479.1 million compared to INR 9,894.2 million a year ago. Net income was INR 589.5 million compared to INR 436.6 million a year ago. Basic earnings per share from continuing operations was INR 1.35 compared to INR 1.01 a year ago. Diluted earnings per share from continuing operations was INR 1.34 compared to INR 1 a year ago.
For the six months, sales was INR 23,485.1 million compared to INR 20,050.5 million a year ago. Revenue was INR 23,744.6 million compared to INR 20,128.3 million a year ago. Net income was INR 1,231.7 million compared to INR 971 million a year ago. Basic earnings per share from continuing operations was INR 2.82 compared to INR 2.24 a year ago. Diluted earnings per share from continuing operations was INR 2.81 compared to INR 2.22 a year ago.
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.