V-Guard Industries Ltd. maintains growth momentum; Profit After Tax for the financial year 2016-17 up by 36% and recommends 70% dividend
India, May 19, 2017:
India’s leading consumer electrical and electronics company, V-Guard Industries Ltd., announced its results for the fourth quarter that ended on March 31, 2017 of FY 16-17.
Highlights:
- Net Revenue from operations for the Financial Year ended 2016-17 was Rs.2,150.62 crores; an increase of 15.5% over previous financial year 2015-16 (Rs.1,862.28 crores).
- Profit After Tax for the Financial year 2016-17 was Rs.151.80 crores, an increase of 36% over the previous financial year (Rs.111.68 crores)
- Net Revenue from operations for the Fourth Quarter, ending March 31, 2016-17 fiscal, was Rs. 623.26 crores; an increase of 21% over corresponding period of last quarter (Rs.513.30 crores)
- Profit After Tax for the Quarter, ending March 31, 2016-17 fiscal, was Rs. 41.86 crores, at the same level when compared with the Profit After Tax of Rs.41.97 crores achieved during the corresponding quarter of previous financial year
- Recommends dividend of 70% on equity which is Rs.0.70 per share.
- Growth in 4th quarter turnover is driven by good demand in summer related products.
- Smart series inverters were launched, which is controlled by intuitive smart phone app, which can also be configured to run iron box and other heavy appliances.
Business Outlook:
Commenting on the company’s performance, Mr. Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said “The last year has been great for us despite minor setbacks of demonetisation. We were able to sustain through it and inflow has normalised. We are in our 40th year of business and we are committed to launching thoughtfully designed products keeping in mind the expectations and requirements of today’s consumer. We expect to perform reasonably well in the next financial year.
Key developments
- Second phase of expansion of House Wiring Cable plant at Chavadi, Coimbatore, will commence commercial production in May, 2017. Capacity will get increased to 8.7 lakhs coils per month. The project was completed at a cost of Rs.12 crores.
