V-Guard Industries Ltd posted a record quarterly revenue of ₹1,538 Cr, up 14.5% YoY, led by Electronics (+26.3%), Electricals (+14.6%), and Consumer Durables (+11.9%). Q4 EBITDA grew 11.9% to ₹143 Cr, and PAT rose 20% to ₹91 Cr. The company is now debt-free after repaying Sunflame’s loan.
Management highlighted steady gross margins, strong solar rooftop growth, and plans for ₹50 Cr CAPEX to boost battery sales. Sunflame faces challenges from delayed product refresh and channel issues but integration efforts target improvements within 3-6 months. Near-term pressure on Electronics due to cooler weather could be offset by new products and northern demand. Margins should remain stable with confident outlook on growth and Sunflame turnaround.