- Total income
- ₹5,747 Cr
- Profit
- ₹314 Cr

About V Guard Industries Limited
Data last updated:
V Guard Industries Limited is a public limited company based in Kochi, Kerala, India. It operates in the electronics manufacturing segment of the consumer electronics and durables sector. It was incorporated on 12 February 1996 and has been in existence for over 30 years.
V Guard Industries is ranked #413 on the Fortune India 500 (2025). It is part of the BSE 500 index.
The company is registered with the Registrar of Companies (ROC), Ernakulam, under CIN L31200KL1996PLC010010. Its GSTIN is 32AAACV5492Q1ZR (Kerala). The company holds 33 GST registrations, of which 26 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 532953 and NSE: VGUARD.
The company has an authorised share capital of ₹191.5 Cr and a paid-up capital of ₹43.69 Cr. It was formerly known as V Guard Industries Private Limited. It is led by directors including Mithun Chittilappilly (Managing Director) and Ramachandran (Whole-Time Director).
Its last annual general meeting (AGM) was held on 11 August 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 42/962 Vennala High School Road Vennala, Kochi, Kerala, India – 682028.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹5,965.78 Cr, a growth of 7% compared to the previous year. For the same year it recorded a net profit of ₹321.7 Cr (net margin 5.4%) and EBITDA of ₹504.65 Cr (EBITDA margin 8.5%). The net worth stands at ₹2,373.05 Cr (up 13.1% YoY). Total assets are valued at ₹2,559.2 Cr (up 13.7% YoY).
The company has about 3,309 employees on its provident fund (EPFO) records. Its group structure includes 3 subsidiaries.
The company is associated with 2 brands: V-Guard Industries and Ondo Finance. As per MCA filings, the company has open charges of ₹362 Cr and satisfied charges of ₹412.83 Cr on record. Court records list 593 cases involving the company, including 530 filed by the company and 64 filed against it; 300 cases are pending. The company has 40 deals on record (37 market trades, 2 secondary share transfers, 1 ipo); the latest was in August 2025. The company has 19 MSME Form 1 returns on record between 2017 and 2024, listing 195 overdue payments to 81 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website vguard.in.
Company details
CIN history
V Guard Industries has one previous CIN (Corporate Identification Number): U31200KL1996PLC010010. The current CIN is L31200KL1996PLC010010, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L31200KL1996PLC010010 | Current |
| U31200KL1996PLC010010 | Previous |
Recognitions & Rankings of V Guard Industries
- Valuation
- ₹18,950 Cr
Contact details
V Guard Industries Limited's registered office is in Kochi, Kerala. Its website is vguard.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address42/962 Vennala High School Road Vennala, Kochi, Kerala, India – 682028
- IndustryConsumer Electronics & Durables, Electronics Manufacturing
To see the full contact details of V Guard Industries Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
V Guard Industries operates two associated brands: V-Guard Industries and Ondo Finance. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Electrical home appliances are manufactured by V-Guard Industries. | vguard.in | |
| A decentralized finance platform is operated by Ondo Finance. | ondo.finance |
Business activity
The main business activities of V Guard Industries are manufacturing and trade. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment and wholesale trading. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment | |
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of V Guard Industries Limited, buy the company report.
Financials of V Guard Industries Limited
FY 2025-26 filings availableV Guard Industries Limited reported revenue of ₹5,965.78 Cr (up 7% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 5,966 | 5,578 | 4,857 | 4,127 | 3,500 | 2,721 | 2,503 |
| Revenue growth | +7.0% | +14.9% | +17.7% | +17.9% | +28.6% | +8.7% | - |
| EBITDA | 505 | 513 | 427 | 320 | 340 | 312 | 258 |
| EBITDA margin | +8.5% | +9.2% | +8.8% | +7.8% | +9.7% | +11.5% | +10.3% |
| Profit before tax | 408 | 414 | 340 | 256 | 294 | 288 | 250 |
| Net profit | 322 | 308 | 257 | 185 | 228 | 201 | 188 |
| Net profit margin | +5.4% | +5.5% | +5.3% | +4.5% | +6.5% | +7.4% | +7.5% |
| EPS (₹) | 7.06 | 7.20 | 5.93 | 4.38 | 5.28 | 4.67 | 4.37 |
| Balance sheet | |||||||
| Total assets | 2,559 | 2,251 | 2,232 | 2,150 | 1,500 | 1,302 | 1,059 |
| Net worth | 2,373 | 2,098 | 1,814 | 1,608 | 1,407 | 1,211 | 995 |
| Total debt | 165 | 134 | 401 | 503 | 68.35 | 69.27 | 12.77 |
| Cash & bank | 59.30 | 64.50 | 57.37 | 66.87 | 61.27 | 281 | 112 |
| Net working capital | 729 | 755 | 779 | 852 | 923 | 828 | 628 |
| Cash flow | |||||||
| Cash from operations | 459 | 477 | 393 | 424 | (36.82) | 222 | 141 |
| Cash from investing | (364) | (96.92) | (153) | (771) | (121) | 40.92 | (112) |
| Cash from financing | (97.67) | (378) | (232) | 326 | (62.32) | (5.74) | (91.46) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,811 | 1,755 | 1,404 | 1,341 | 1,466 | 1,538 | 1,269 | 1,294 |
| Revenue growth (YoY) | +23.5% | +14.1% | +10.6% | +3.6% | -0.8% | - | - | - |
| Other income | 11.68 | 7.62 | 5.73 | 4.91 | 5.25 | 4.50 | 5.43 | 4.05 |
| EBITDA | 191 | 171 | 101 | 109 | 124 | 143 | 104 | 110 |
| EBITDA margin | +10.5% | +9.7% | +7.2% | +8.1% | +8.4% | +9.3% | +8.2% | +8.5% |
| Depreciation | 27.66 | 28.10 | 26.52 | 26.96 | 26.31 | 26.78 | 25.04 | 22.11 |
| Interest | 3.11 | 3.01 | 2.97 | 2.13 | 4.27 | 2.55 | 5.79 | 7.58 |
| Profit before tax | 172 | 147 | 77.32 | 85.08 | 98.26 | 118 | 78.74 | 84.62 |
| Tax | 41.62 | 35.09 | 20.26 | 19.79 | 24.41 | 27.09 | 18.52 | 21.23 |
| Net profit | 130 | 112 | 57.06 | 65.29 | 73.85 | 91.13 | 60.22 | 63.39 |
| EPS (₹) | 2.96 | 2.55 | 1.30 | 1.48 | 1.68 | 2.07 | 1.37 | 1.44 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 5,692 | 5,309 | 4,559 | 4,051 | 3,477 | 2,699 | 2,482 |
| Revenue growth | +7.2% | +16.4% | +12.6% | +16.5% | +28.8% | +8.7% | - |
| EBITDA | 397 | 422 | 354 | 301 | 334 | 306 | 253 |
| EBITDA margin | +7.0% | +8.0% | +7.8% | +7.4% | +9.6% | +11.4% | +10.2% |
| Profit before tax | 344 | 348 | 301 | 241 | 290 | 285 | 245 |
| Net profit | 272 | 253 | 230 | 179 | 227 | 199 | 186 |
| Net profit margin | +4.8% | +4.8% | +5.0% | +4.4% | +6.5% | +7.4% | +7.5% |
| EPS (₹) | 5.94 | 5.97 | 5.32 | 4.15 | 5.26 | 4.63 | 4.32 |
| Balance sheet | |||||||
| Total assets | 2,307 | 2,092 | 2,139 | 2,128 | 1,487 | 1,290 | 1,050 |
| Net worth | 2,225 | 1,998 | 1,768 | 1,588 | 1,402 | 1,208 | 994 |
| Total debt | 64.36 | 76.73 | 356 | 501 | 66.35 | 66.25 | 10.00 |
| Cash & bank | 32.02 | 30.49 | 35.63 | 24.10 | 53.88 | 281 | 112 |
| Net working capital | 550 | 593 | 674 | 746 | 908 | 824 | 628 |
| Cash flow | |||||||
| Cash from operations | 388 | 444 | 350 | 416 | (32.90) | 222 | 139 |
| Cash from investing | (299) | (77.25) | (107) | (774) | (133) | 41.21 | (110) |
| Cash from financing | (88.02) | (372) | (232) | 328 | (60.89) | (5.65) | (89.80) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,737 | 1,687 | 1,326 | 1,272 | 1,406 | 1,480 | 1,185 | 1,229 |
| Revenue growth (YoY) | +23.5% | +14.0% | +11.9% | +3.5% | -0.6% | - | - | - |
| Other income | 11.16 | 7.25 | 5.37 | 18.63 | 4.87 | 3.23 | 5.41 | 3.70 |
| Total expenses | 1,582 | 1,544 | 1,251 | 1,187 | 1,313 | 1,359 | 1,102 | 1,138 |
| EBITDA | 155 | 143 | 74.71 | 85.34 | 93.86 | 121 | 82.80 | 91.03 |
| EBITDA margin | +8.9% | +8.5% | +5.6% | +6.7% | +6.7% | +8.2% | +7.0% | +7.4% |
| Depreciation | 20.91 | 21.04 | 20.25 | 20.57 | 20.20 | 20.47 | 19.65 | 17.01 |
| Interest | 1.59 | 1.43 | 1.68 | 0.85 | 2.97 | 1.28 | 4.58 | 6.51 |
| Profit before tax | 144 | 128 | 58.15 | 82.55 | 75.56 | 102 | 63.98 | 71.21 |
| Tax | 35.93 | 32.26 | 15.81 | 16.58 | 19.85 | 24.22 | 15.89 | 19.02 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,811 | 1,755 | 1,404 | 1,341 | 1,466 | 1,538 | 1,269 | 1,294 |
| Revenue growth (YoY) | +23.5% | +14.1% | +10.6% | +3.6% | -0.8% | - | - | - |
| Other income | 11.68 | 7.62 | 5.73 | 4.91 | 5.25 | 4.50 | 5.43 | 4.05 |
| EBITDA | 191 | 171 | 101 | 109 | 124 | 143 | 104 | 110 |
| EBITDA margin | +10.5% | +9.7% | +7.2% | +8.1% | +8.4% | +9.3% | +8.2% | +8.5% |
| Depreciation | 27.66 | 28.10 | 26.52 | 26.96 | 26.31 | 26.78 | 25.04 | 22.11 |
| Interest | 3.11 | 3.01 | 2.97 | 2.13 | 4.27 | 2.55 | 5.79 | 7.58 |
| Profit before tax | 172 | 147 | 77.32 | 85.08 | 98.26 | 118 | 78.74 | 84.62 |
| Tax | 41.62 | 35.09 | 20.26 | 19.79 | 24.41 | 27.09 | 18.52 | 21.23 |
| Net profit | 130 | 112 | 57.06 | 65.29 | 73.85 | 91.13 | 60.22 | 63.39 |
| EPS (₹) | 2.96 | 2.55 | 1.30 | 1.48 | 1.68 | 2.07 | 1.37 | 1.44 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 5,966 | 5,578 | 4,857 | 4,127 | 3,500 | 2,721 | 2,503 |
| Revenue growth | +7.0% | +14.9% | +17.7% | +17.9% | +28.6% | +8.7% | - |
| Other income | 23.51 | 20.89 | 34.03 | 16.23 | 10.76 | 20.73 | 25.13 |
| Total expenses | 5,461 | 5,065 | 4,430 | 3,807 | 3,160 | 2,409 | 2,245 |
| Employee cost | 536 | 519 | 403 | 303 | 270 | 227 | 209 |
| EBITDA | 505 | 513 | 427 | 320 | 340 | 312 | 258 |
| EBITDA margin | +8.5% | +9.2% | +8.8% | +7.8% | +9.7% | +11.5% | +10.3% |
| Depreciation | 108 | 95.66 | 80.88 | 64.42 | 49.15 | 38.63 | 29.38 |
| Interest | 12.38 | 24.51 | 39.54 | 16.19 | 7.88 | 6.10 | 4.16 |
| Profit before tax | 408 | 414 | 340 | 256 | 294 | 288 | 250 |
| Tax | 99.55 | 100 | 82.74 | 66.69 | 65.53 | 86.21 | 61.33 |
| Net profit | 322 | 308 | 257 | 185 | 228 | 201 | 188 |
| Net profit margin | +5.4% | +5.5% | +5.3% | +4.5% | +6.5% | +7.4% | +7.5% |
| EPS (₹) | 7.06 | 7.20 | 5.93 | 4.38 | 5.28 | 4.67 | 4.37 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 43.68 | 43.58 | 43.44 | 43.22 | 43.15 | 43.02 | 42.83 |
| Reserves & surplus | 2,329 | 2,054 | 1,771 | 1,564 | 1,364 | 1,168 | 953 |
| Shareholders' funds (net worth) | 2,373 | 2,098 | 1,814 | 1,608 | 1,407 | 1,211 | 995 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 5.47 | 4.71 | 3.63 |
| Secured loans | 0.00 | 0.00 | 274 | 273 | 1.79 | 3.01 | 2.77 |
| Unsecured loans | 165 | 134 | 127 | 230 | 66.56 | 66.26 | 10.00 |
| Total debt | 165 | 134 | 401 | 503 | 68.35 | 69.27 | 12.77 |
| Total liabilities | 2,559 | 2,251 | 2,232 | 2,150 | 1,500 | 1,302 | 1,059 |
| Assets | |||||||
| Gross block | 1,989 | 1,757 | 1,635 | 1,479 | 636 | 486 | 364 |
| Net block | 1,524 | 1,374 | 1,334 | 1,247 | 463 | 370 | 284 |
| Capital work in progress | 21.03 | 49.12 | 37.12 | 27.35 | 16.99 | 19.55 | 66.87 |
| Investments | 276 | 80.74 | 101 | 33.52 | 33.40 | 33.40 | 36.00 |
| Inventories | 1,024 | 997 | 812 | 767 | 860 | 632 | 479 |
| Sundry debtors | 533 | 542 | 596 | 557 | 484 | 388 | 324 |
| Cash & bank balances | 59.30 | 64.50 | 57.37 | 66.87 | 61.27 | 281 | 112 |
| Loans & advances | 168 | 138 | 142 | 114 | 125 | 100 | 110 |
| Total current assets | 1,784 | 1,742 | 1,607 | 1,505 | 1,530 | 1,401 | 1,024 |
| Total current liabilities | 1,055 | 988 | 828 | 653 | 607 | 573 | 396 |
| Net working capital | 729 | 755 | 779 | 852 | 923 | 828 | 628 |
| Total assets | 2,559 | 2,251 | 2,232 | 2,150 | 1,500 | 1,302 | 1,059 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 49.98 | 47.45 | 39.54 | 60.80 | 281 | 23.43 | 85.31 |
| Net cash from operating activities | 459 | 477 | 393 | 424 | (36.82) | 222 | 141 |
| Net cash from investing activities | (364) | (96.92) | (153) | (771) | (121) | 40.92 | (112) |
| Net cash from financing activities | (97.67) | (378) | (232) | 326 | (62.32) | (5.74) | (91.46) |
| Net change in cash | (3.06) | 2.53 | 7.91 | (21.26) | (220) | 257 | (61.88) |
| Closing cash | 59.30 | 64.50 | 57.37 | 66.87 | 61.27 | 281 | 112 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +7.0% | +14.9% | +17.7% | +17.9% | +28.6% | +8.7% | - |
| EBITDA growth | -1.7% | +20.3% | +33.3% | -5.9% | +9.0% | +21.0% | - |
| PBT growth | -1.5% | +21.6% | +33.1% | -13.0% | +2.0% | +15.4% | +13.7% |
| Net income growth | +4.6% | +19.8% | +38.7% | -18.8% | +13.5% | +7.1% | - |
| Revenue CAGR (3Y) | +13.1% | +16.8% | +21.3% | +18.1% | +10.5% | +5.4% | +6.3% |
| EBITDA CAGR (3Y) | +16.4% | +14.7% | +11.0% | +7.5% | +14.9% | +17.9% | +7.3% |
| Profitability & leverage | |||||||
| Net income margin | +5.2% | +5.6% | +5.3% | +4.6% | +6.5% | +7.4% | +7.5% |
| Return on capital employed | +17.5% | +19.6% | +17.3% | +14.9% | +21.6% | +25.0% | +25.6% |
| Return on net worth | +13.8% | +16.0% | +15.1% | +12.5% | +17.5% | +18.3% | +19.9% |
| Debt / equity | 0.07 | 0.14 | 0.26 | 0.19 | 0.05 | 0.04 | 0.01 |
| Long-term debt / equity | 0.05 | 0.08 | 0.17 | 0.13 | 0.04 | 0.02 | 0.00 |
| Interest cover | 3.12 | 5.87 | 11.43 | 6.33 | 2.71 | 2.23 | 1.82 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 3.19 | 3.29 | 3.12 | 3.90 | 6.24 | 6.40 | 7.73 |
| Inventory turnover | 5.90 | 6.17 | 6.15 | 5.07 | 4.69 | 4.90 | 5.85 |
| Debtors turnover | 11.10 | 9.80 | 8.43 | 7.93 | 8.03 | 7.64 | 6.39 |
| EPS (₹) | 7.06 | 7.20 | 5.93 | 4.38 | 5.28 | 4.67 | 4.37 |
| Dividend per share (₹) | 1.50 | 1.50 | 1.40 | 1.30 | 1.30 | 1.20 | 0.90 |
| Book value per share (₹) | 54.33 | 48.14 | 41.76 | 37.20 | 32.60 | 28.16 | 23.24 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,737 | 1,687 | 1,326 | 1,272 | 1,406 | 1,480 | 1,185 | 1,229 |
| Revenue growth (YoY) | +23.5% | +14.0% | +11.9% | +3.5% | -0.6% | - | - | - |
| Other income | 11.16 | 7.25 | 5.37 | 18.63 | 4.87 | 3.23 | 5.41 | 3.70 |
| Total expenses | 1,582 | 1,544 | 1,251 | 1,187 | 1,313 | 1,359 | 1,102 | 1,138 |
| EBITDA | 155 | 143 | 74.71 | 85.34 | 93.86 | 121 | 82.80 | 91.03 |
| EBITDA margin | +8.9% | +8.5% | +5.6% | +6.7% | +6.7% | +8.2% | +7.0% | +7.4% |
| Depreciation | 20.91 | 21.04 | 20.25 | 20.57 | 20.20 | 20.47 | 19.65 | 17.01 |
| Interest | 1.59 | 1.43 | 1.68 | 0.85 | 2.97 | 1.28 | 4.58 | 6.51 |
| Profit before tax | 144 | 128 | 58.15 | 82.55 | 75.56 | 102 | 63.98 | 71.21 |
| Tax | 35.93 | 32.26 | 15.81 | 16.58 | 19.85 | 24.22 | 15.89 | 19.02 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 5,692 | 5,309 | 4,559 | 4,051 | 3,477 | 2,699 | 2,482 |
| Revenue growth | +7.2% | +16.4% | +12.6% | +16.5% | +28.8% | +8.7% | - |
| Other income | 36.12 | 18.86 | 51.84 | 14.76 | 10.92 | 21.10 | 23.99 |
| Total expenses | 5,295 | 4,886 | 4,206 | 3,750 | 3,143 | 2,393 | 2,229 |
| Employee cost | 494 | 479 | 377 | 295 | 267 | 225 | 207 |
| EBITDA | 397 | 422 | 354 | 301 | 334 | 306 | 253 |
| EBITDA margin | +7.0% | +8.0% | +7.8% | +7.4% | +9.6% | +11.4% | +10.2% |
| Depreciation | 82.06 | 73.68 | 66.95 | 58.44 | 47.50 | 37.32 | 28.09 |
| Interest | 6.93 | 19.92 | 37.46 | 15.92 | 7.52 | 5.60 | 3.73 |
| Profit before tax | 344 | 348 | 301 | 241 | 290 | 285 | 245 |
| Tax | 84.50 | 87.51 | 70.14 | 62.05 | 63.25 | 85.69 | 60.28 |
| Net profit | 272 | 253 | 230 | 179 | 227 | 199 | 186 |
| Net profit margin | +4.8% | +4.8% | +5.0% | +4.4% | +6.5% | +7.4% | +7.5% |
| EPS (₹) | 5.94 | 5.97 | 5.32 | 4.15 | 5.26 | 4.63 | 4.32 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 43.68 | 43.58 | 43.44 | 43.22 | 43.15 | 43.02 | 42.83 |
| Reserves & surplus | 2,181 | 1,955 | 1,725 | 1,545 | 1,359 | 1,165 | 951 |
| Shareholders' funds (net worth) | 2,225 | 1,998 | 1,768 | 1,588 | 1,402 | 1,208 | 994 |
| Secured loans | 0.00 | 0.00 | 274 | 273 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 64.36 | 76.73 | 81.75 | 228 | 66.35 | 66.25 | 10.00 |
| Total debt | 64.36 | 76.73 | 356 | 501 | 66.35 | 66.25 | 10.00 |
| Total liabilities | 2,307 | 2,092 | 2,139 | 2,128 | 1,487 | 1,290 | 1,050 |
| Assets | |||||||
| Gross block | 965 | 803 | 711 | 667 | 567 | 466 | 344 |
| Net block | 571 | 465 | 435 | 447 | 400 | 354 | 268 |
| Capital work in progress | 8.69 | 48.67 | 36.25 | 15.82 | 16.48 | 19.55 | 66.87 |
| Investments | 1,094 | 899 | 919 | 851 | 102 | 42.25 | 44.85 |
| Inventories | 832 | 865 | 709 | 689 | 850 | 629 | 476 |
| Sundry debtors | 511 | 514 | 554 | 520 | 479 | 385 | 322 |
| Cash & bank balances | 32.02 | 30.49 | 35.63 | 24.10 | 53.88 | 281 | 112 |
| Loans & advances | 157 | 131 | 122 | 99.71 | 120 | 99.19 | 108 |
| Total current assets | 1,532 | 1,540 | 1,421 | 1,333 | 1,503 | 1,394 | 1,018 |
| Total current liabilities | 982 | 947 | 747 | 587 | 595 | 570 | 390 |
| Net working capital | 550 | 593 | 674 | 746 | 908 | 824 | 628 |
| Total assets | 2,307 | 2,092 | 2,139 | 2,128 | 1,487 | 1,290 | 1,050 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 30.07 | 35.07 | 23.65 | 53.45 | 281 | 23.41 | 84.27 |
| Net cash from operating activities | 388 | 444 | 350 | 416 | (32.90) | 222 | 139 |
| Net cash from investing activities | (299) | (77.25) | (107) | (774) | (133) | 41.21 | (110) |
| Net cash from financing activities | (88.02) | (372) | (232) | 328 | (60.89) | (5.65) | (89.80) |
| Net change in cash | 1.56 | (5.00) | 11.42 | (29.80) | (227) | 257 | (60.86) |
| Closing cash | 32.02 | 30.49 | 35.63 | 24.10 | 53.88 | 281 | 112 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +7.2% | +16.4% | +12.6% | +16.5% | +28.8% | +8.7% | - |
| EBITDA growth | -6.1% | +19.5% | +17.5% | -9.9% | +9.0% | +21.0% | - |
| PBT growth | -1.1% | +15.5% | +24.7% | -16.8% | +1.9% | +16.0% | +14.4% |
| Net income growth | +7.5% | +9.9% | +28.2% | -21.1% | +14.1% | +7.3% | - |
| Revenue CAGR (3Y) | +12.0% | +15.2% | +19.1% | +17.7% | +10.7% | +5.3% | +6.0% |
| EBITDA CAGR (3Y) | +9.7% | +8.1% | +4.9% | +5.9% | +15.1% | +17.9% | +6.7% |
| Profitability & leverage | |||||||
| Net income margin | +4.6% | +4.9% | +5.1% | +4.4% | +6.5% | +7.4% | +7.5% |
| Return on capital employed | +16.0% | +17.4% | +15.9% | +14.2% | +21.4% | +24.8% | +25.2% |
| Return on net worth | +12.3% | +13.8% | +13.8% | +12.0% | +17.4% | +18.1% | +19.6% |
| Debt / equity | 0.03 | 0.11 | 0.26 | 0.19 | 0.05 | 0.03 | 0.01 |
| Long-term debt / equity | 0.02 | 0.06 | 0.16 | 0.13 | 0.04 | 0.02 | 0.00 |
| Interest cover | 2.20 | 5.71 | 13.07 | 6.56 | 2.62 | 2.08 | 1.66 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 6.44 | 7.01 | 6.62 | 6.57 | 6.73 | 6.66 | 8.15 |
| Inventory turnover | 6.71 | 6.74 | 6.52 | 5.26 | 4.70 | 4.88 | 5.86 |
| Debtors turnover | 11.11 | 9.95 | 8.50 | 8.11 | 8.05 | 7.64 | 6.29 |
| EPS (₹) | 5.94 | 5.97 | 5.32 | 4.15 | 5.26 | 4.63 | 4.32 |
| Dividend per share (₹) | 1.50 | 1.50 | 1.40 | 1.30 | 1.30 | 1.20 | 0.90 |
| Book value per share (₹) | 50.93 | 45.85 | 40.70 | 36.74 | 32.50 | 28.08 | 23.20 |
To see the full year-wise statements and ratios of V Guard Industries Limited, buy the company report.
Board of directors of V Guard Industries Limited
V Guard Industries has 8 current directors and 17 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ramachandran Also directs: Sunflame Enterprises Private Limited, V-Guard Consumer Products Limited, V-Guard Foundation and 1 more | Whole-Time Director | 23 Jul 2013 | 13 Years 3 Months | Current |
| Mithun Chittilappilly Also directs: Sunflame Enterprises Private Limited, V-Guard Consumer Products Limited, V-Guard Foundation and 1 more | Managing Director | 01 Apr 2012 | 14 Years 6 Months | Current |
| George Muthoot Jacob Also directs: Muthoot Finance Limited, Vatul Plantations Private Limited, Green Guardians Organic Farms and Exports Private Limited and 5 more | Director | 05 Oct 2020 | 6 Years 0 Months | Current |
| Biju Varkkey | Director | 26 May 2021 | 5 Years 4 Months | Current |
| Reena Philip Also directs: V-Guard Foundation | Director | 28 Jan 2026 | 0 Years 8 Months | Current |
| Antony Sebastian Karathra | Whole-Time Director | 30 May 2023 | 3 Years 4 Months | Current |
Auditor
V Guard Industries Limited is audited by Price Waterhouse Chartered Accountants LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Price Waterhouse Chartered Accountants LLP | FY 2023 | 012754N/N500016 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 53.20%, foreign institutional investors hold 12.00%, domestic institutional investors hold 23.20% and retail and other public shareholders hold 11.60%.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 53.20% | 53.20% | 53.30% | 53.30% |
| Public | 46.80% | 46.80% | 46.70% | 46.70% |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 06 Jun 2017 | 100115404 | Others | ₹147 Cr | Open | |
| 29 Mar 2012 | 10356792 | Others | ₹70 Cr | Open | |
| 12 Mar 2010 | 10209686 | Citi Bank N.A. | ₹25 Cr | Open | |
| 07 Jan 2008 | 10094251 | Hdfc Bank Limited | ₹100 Cr | Open | |
| 23 Sep 2004 | 80017466 | State Bank of India | ₹20 Cr | Open |
To see the full charge records of V Guard Industries Limited, buy the company report.
Total charge records: 26 View all charges
Deals & funding
V Guard Industries Limited has 40 deals on record (37 market trades, 2 secondary share transfers, 1 ipo); the latest was in August 2025.
Deals on record (5 of 40)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2012 | Market trade | ₹12.55 Cr | Buyer: Crosseas Capital Markets Private Limited Seller: Crosseas Capital Markets Private Limited |
| Aug 2012 | Market trade | ₹6.27 Cr | Buyer: Crosseas Capital Markets Private Limited Seller: Crosseas Capital Markets Private Limited |
| Apr 2008 | Market trade | ₹3.84 Cr | Buyer: Shri Brij Securities Private Limited , Adroit Financial Services Private Limited , an individual Seller: Shri Brij Securities Private Limited , Adroit Financial Services Private Limited , an individual |
| Mar 2008 | Market trade | ₹50.42 Cr | Buyer: Matrix Equitrade Private Limited , Transglobal Securities Ltd, Chimanlal Maneklal Sec.Pvt.Ltd, an individual Seller: Matrix Equitrade Private Limited , Transglobal Securities Ltd, Chimanlal Maneklal Sec.Pvt.Ltd, an individual |
| Mar 2008 | Market trade | ₹29.18 Cr | Buyer: Transglobal Securities Ltd., 3 individuals Seller: Transglobal Securities Ltd., 3 individuals |
To see the full deal history of V Guard Industries Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
V Guard Industries Limited has 593 court cases on record: 530 filed by V Guard Industries, 64 filed against it. 300 cases are pending and 293 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 489 | 42 | 277 |
| High courts | 96 | 15 | 22 |
| Supreme Court | 7 | 6 | 1 |
| NCLT | 1 | 1 | 0 |
Cases on record (5 of 593)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Gurugram, Haryana | Cheque dishonour complaint | Filed by the company against M/S Skybyz Exim Pvt Ltd | Pending |
| Madras High Court | Interim or miscellaneous application | Filed by the company against Kangaro Industries | Pending |
| High Court of Delhi | Commercial suit | Filed by the company against Luker Electric Technologies Pvt. Ltd. | Pending |
| District court, Thane, Maharashtra | Commercial suit | Filed against the company by Its Coatings Pvt. Ltd Through Amit Tibrewala | Pending |
| High Court of Delhi | Commercial suit | Filed against the company by Novateur Electrical & Digital Systems Pvt Ltd | Pending |
To see the full case history of V Guard Industries Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
V Guard Industries Limited was last rated by Crisil on 26 Nov 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 26 Nov 2021 |
To see the full credit ratings and regulatory alerts of V Guard Industries Limited, buy the company report.
MSME payment delays
V Guard Industries Limited has 19 MSME Form 1 returns on record between 2017 and 2024, listing 195 overdue payments to 81 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 81)
To see the full MSME payment records of V Guard Industries Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
V Guard Industries has 3 subsidiary companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| V-Guard Consumer Products Limited | U31904KL2021PLC069893 | |
| Guts Electro-Mech Limited | U52520TG1987PLC007245 | |
| Sunflame Enterprises Private Limited | U74899DL1984PTC018992 |
To see the full group structure of V Guard Industries Limited, buy the company report.
Employees & EPFO
V Guard Industries Limited has a workforce of 3,309 employees on its EPFO records as of Apr 07, 2024, across 6 active EPFO establishments.
GST
V Guard Industries has 33 GST registrations: 26 active and 7 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 32AAACV5492Q1ZR | Kerala | Active | 01 Jul 2017 |
| 32AAACV5492Q2ZQ | Kerala | Active | 08 Jul 2017 |
| 02AAACV5492Q1ZU | Himachal Pradesh | Active | 01 Jul 2017 |
| 03AAACV5492Q1ZS | Punjab | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of V Guard Industries Limited, buy the company report.
Recent activity
V Guard Industries Limited has 38 board changes on record since 1996: 24 appointments and 14 cessations. The latest: Usha Sunny was appointed as Director on 12 May 2026.
90 earlier events are in the company report.
News
From our blog
- Funding in Indian Startups [18 Jan – 23 Jan]25 Jan 2021
Frequently asked questions
V Guard Industries is an active public limited company based in Kochi, Kerala, India. The company works in electronics manufacturing, within the consumer electronics and durables industry. It was incorporated on 12 February 1996 (30+ years old) and is registered under CIN L31200KL1996PLC010010. Listed on BSE: 532953 and NSE: VGUARD.
V Guard Industries reported revenue of ₹5,965.78 Cr for FY 2025-26 (up 7% YoY) based on consolidated financials.
V Guard Industries has 8 current directors:
- Mithun Chittilappilly - Managing Director
- Ramachandran - Whole-Time Director
- Antony Sebastian Karathra - Whole-Time Director
- George Muthoot Jacob - Director
- Biju Varkkey - Director
- Reena Philip - Director
- Ishwar Subramanian - Director
- Usha Sunny - Director
The latest financial statements of V Guard Industries on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 11 August 2026. Year-wise statements from 2015 are in the company report.
The GSTIN of V Guard Industries is 32AAACV5492Q1ZR, registered in Kerala. The company has 33 GST registrations in all, of which 26 are active and 7 are cancelled or inactive. Other active GSTINs include 32AAACV5492Q2ZQ (Kerala), 02AAACV5492Q1ZU (Himachal Pradesh), 03AAACV5492Q1ZS (Punjab).
The CIN (Corporate Identification Number) of V Guard Industries is L31200KL1996PLC010010. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. V Guard Industries is a listed company as per MCA records. Its shares are listed on both BSE (code: 532953) and NSE (symbol: VGUARD).
V Guard Industries has 593 court cases on record: 530 filed by the company and 64 filed against it. 300 are pending. Most are in the district courts.
V Guard Industries was incorporated on 12 February 1996, making it 30+ years old. It is registered with the Registrar of Companies, Ernakulam.
V Guard Industries has 40 deals on record (37 market trades, 2 secondary share transfers, 1 ipo); the latest was in August 2025.
Usha Sunny was appointed as Director on 12 May 2026. Reena Philip was appointed as Director on 28 Jan 2026. Chenayappillil John George ceased to be Director on 28 Jul 2024. V Guard Industries has 38 board changes on record in total.