V-Guard Industries Ltd (NSE:VGUARD)

Q3 2026 V Guard Industries Ltd Earnings Call Transcript

Jan 29, 2026 / 10:00 AM GMT

Release Date Price: ₹334.5 (+5.35%)

Transcript

Key Points

Positve

V-Guard Industries Ltd (BOM:532953) reported a double-digit top-line growth in Q3 FY26, driven primarily by the electrical segment.
The electrical segment, which includes wires, pumps, switch gears, and modular switches, saw a robust year-over-year revenue growth of 26%, supported by volume expansion and higher copper prices.
The company maintained a healthy working capital position, leading to strong cash flow during the quarter.
V-Guard Industries Ltd (BOM:532953) plans to undertake calibrated pricing actions across its product portfolio to manage input cost increases.
The operational integration of Sunflame has been completed, and sales integration is underway, expected to support future growth for the brand.

Negative

The electronic segment, including stabilizers, UPS systems, and inverters, reported largely flat revenues in Q3 FY26.
Sunflame experienced a year-over-year revenue decline of 9.9% in Q3 FY26, reflecting continued softness in the kitchen appliances category.
Gross margin for the quarter contracted by 100 basis points to 35.7% due to mixed impact.
The company recognized an exceptional item charge of 22.11 crore towards gratuity and leave encashment provisions, impacting consolidated PAT.
There is a risk of margin pressure due to significant price hikes in the fan category, driven by new energy rating norms and increased copper prices.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

VGUA.NS - V Guard Industries Ltd
Q3 2026 V Guard Industries Ltd Earnings Call
Jan 29, 2026 / 10:00AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to VGA Q3 F526 earnings conference call hosted by ICICI Securities.

As a reminder, all participant clients will be in the listen-only mode, and there will be an opportunity. For you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing, then 0 on your touchstone phone. Please note that this conference is being recorded. I now hand the conference over to Anirada Joshi from ICICI Security. Please go ahead, sir.

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Unidentified_2 [2]
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