India’s leading consumer electrical and electronics company, V-Guard Industries Ltd., announced its audited financial results for the quarter ended March 31, 2021.
Q4 FY 21 highlights:
* Consolidated Net Revenue from operations for the quarter ended March 31, 2021 was Rs. 855.20 crores; a growth of 58% compared to the corresponding period of previous year (Rs.541.14 crores)
* Consolidated Profit After Tax for the quarter ended March 31, 2021 was Rs.68.39 crores; an increase of 112.2% over corresponding period of previous year (Rs.32.23 crores).
* All three segments - Electronics, Electrical and Consumer Durables - recorded strong growth during the quarter.
* Consolidated Net Revenue from operations for the year ended March 31, 2021 was Rs. 2,721.24 crores; a growth of 8.7% compared to the previous year (Rs.2,502.94 crores).
* Consolidated Profit Before Tax for the year ended March 31, 2021 was Rs.288.1 crores; an increase of 15.4% over the previous year (Rs.249.6 crores).
* Consolidated Profit After Tax for the year ended March 31, 2021 was Rs.201.89 crores; an increase of 7.2% over the previous year (Rs.188.25 crores). Effective Tax Rate has gone up due to severe supply disruption in Sikkim plants, as they were affected by Covid-related lockdowns up to September 2020.
* The Board of Directors has recommended a dividend of Rs.1.20 per equity share (120%) for the financial year 2020-21.
Commenting on the company’s performance, Mr. Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said “The business performance has been very strong in Q4, continuing on the growth momentum witnessed in Q3. We have been able to achieve a broad based growth across all our segments including our emerging categories. Input cost inflation remains a challenge, and while we have been able to mitigate it to large extent, some near term pressures are likely to continue.
As we enter the new financial year, the country has been hit by a more severe second wave of COVID-19. As most parts of the country are under lockdown, there will be a significant impact on consumer demand during Q1 FY 22. We are confident that our business will come back strongly once the lockdowns are lifted.”