India’s leading consumer electrical and electronics company, V-Guard Industries Ltd., announced its audited results for the quarter and year ended March 31, 2019.
FY 19 highlights:
· Consolidated Net Revenue from operations for the year ended March 31, 2019 was 2,594.44 crores; an increase of 11% over previous year (Rs.2,335.26 crores)
· Consolidated Profit After Tax for the year ended March 31, 2019 was Rs.167.23 crores; Increase of 24.6 % over the previous year (Rs.134.26 crores)
Q4 FY 19 highlights:
· Standalone Net Revenue from operations for the Quarter ended March 31, 2018 was Rs. 739.69 crores; an increase of 12% over corresponding period of previous year (Rs.658.61 crores)
· Standalone Profit After Tax for the quarter ended March 31, 2019 was Rs. 59.24 crores; increase of 115% over corresponding period of previous year (Rs.27.58 crores).
The Board has recommended dividend of 80 paise (80%) per equity share for the financial year 2018-19.
Wires, Modular Switches & Switch gear and Kitchen appliances grew well during the last quarter of the Financial Year. Modular Switches were launched in some of the non-south markets during the last quarter of the Financial Year; Air coolers were rolled out to more South and Non-South markets.
Commenting on the company’s performance, Mr. Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said “FY 19 was a challenging year due to commodity and currency volatility. Despite these challenges, we were able to perform reasonably well. In Q4, we were able to land some pricing actions to bring margins back on track. We continue to make steady progress in the non-South markets. Our emerging categories have done well. We continue to invest towards enhancing organisational capabilities and improving our competitiveness in the market”