V-Guard Industries: Reimagining Tomorrow

V-Guard, a distinguished brand with a formidable nationwide presence, stands as a paragon of quality and innovation. Its customer-centric ethos, rooted in a rich heritage, has fostered widespread consumer loyalty across the country. Known for delivering superior products in electronics, electricals, and consumer durables, V-Guard leverages a solid foundation in innovation, advanced manufacturing, effective marketing strategies, and a vast distribution network to lead the Indian market landscape. With proactive initiatives that align closely with shifting consumer preferences and market trends, the company continues to deliver remarkable stakeholder value.

Strong Show
The financial year 2024 proved noteworthy for V-Guard, marking substantial growth across key metrics. Consolidated net revenue rose by 17.7 per cent to Rs 4,857 crore, reflecting robust double-digit growth. EBITDA surged by 33.3 per cent, and Profit After Tax (PAT) saw a 36.2 per cent increase compared to the previous year. All core business categories demonstrated strong growth: Electronics registered a 17.2 per cent increase, contributing 24 per cent to total revenue; consumer durables grew 13.1 per cent, comprising 29.7 per cent of revenue, while electricals continued to be the leading revenue driver with a near double-digit growth.

“We have made good progress in integrating Sunflame into V-Guard’s systems and processes, enhancing backend operations, compliance, and controls,” said Mithun K. Chittilappilly, Managing Director. Despite facing challenges within the kitchen appliance sector, Sunflame delivered resilient performance, particularly in the latter half of FY24, he noted.

Cash generation remained robust throughout the year, supported by improvements in working capital. Net debt was significantly reduced from Rs 353 crore on March 31, 2023, to Rs 204 crore on March 31, 2024, the MD informed. Long-term debt repayment for the Sunflame acquisition began in April 2024, underscoring the company’s financial strength and prudent strategy for sustainable value creation.

ESG Commitment
FY24 also marked a transformative year in V-Guard's sustainability journey. The company defined a clear ESG strategy and established a governance structure to guide future implementation. In its first phase, V-Guard conducted an extensive assessment to identify 21 material ESG impact areas, organised under seven pillars: climate action, responsible products, sustainable supply chain, community empowerment, people and culture, effective governance, and stakeholder engagement.