V-Guard Industries Limited — Investor Meet, 06-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

V-Guard's Q1 FY26 consolidated net revenue saw a marginal 0.7% decline to INR 1,466 Cr, affected by a weak summer and high base. Consumer Durables sales dropped 16.3% due to early monsoon, while Electronics and Electricals grew 4.5% and 7.6%. Gross margin improved to 36.7%, but EBITDA declined 20.7% to INR 124 Cr (8.4% margin) due to operating deleverage. The profit after tax for the quarter was INR 74 Cr. The company is merging Sunflame for integration synergies and entering the Lighting segment. Management anticipates demand normalization and aims for 11-13% revenue growth and 8.5-9.5% EBITDA margins for FY26.