VGUARDNSE14 May 2025

V-Guard Industries Limited has informed the Exchange about Investor Presentation

V-Guard Industries Limited

May 14, 2025

The Manager, Listing Department, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400 001

Scrip Code: 532953

Dear Sir/Madam,

The Manager, Listing Department, National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra-East, Mumbai- 400 051 Symbol: VGUARD

Sub: Submission of Investor Presentation pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to Regulation 30 read with Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby submit Investor Presentation on Audited Financial Results of the Company for the Quarter and Financial Year ended March 31, 2025.

We request you to kindly take the above information on record.

Thanking You,

Yours Sincerely,

For V-Guard Industries Limited

Vikas Kumar Tak Company Secretary & Compliance Officer Membership No. FCS 6618

Encl: As above

V-GUARD INDUSTRIES LTD

Regd. Office: 42/962, Vennala High School Road, Vennala, Kochi – 682 028. CIN: L31200KL1996PLC010010

P E W

+91 484 300 5000, 200 5000 mail@vguard.in www.vguard.in

V-Guard Industries Q4 FY25 Earnings Presentation

Disclaimer

Certain statements

in this communication may be ‘forward looking

statements’ within the meaning of applicable laws and regulations. These

forward-looking statements involve a number of risks, uncertainties and

other factors that could cause actual results to differ materially from

those

suggested by

the

forward-looking statements.

Important

developments

that could affect

the Company’s operations

include

changes in the industry structure, significant changes in political and

economic environment in India and overseas, tax laws,

import duties,

litigation and labour relations.

V-Guard Industries Limited (V-Guard) will not be in any way

responsible for any action taken based on such statements and

undertakes no obligation to publicly update these forward-looking

statements to reflect subsequent events or circumstances.

Table of Contents

MD’s Message

Key Highlights

Financial Highlights

06-10

Segment-wise/Geographical Breakup of Revenues

11-13

Annexure

14-16

Managing Director’s Message

Commenting on the performance for Q4 FY25, Mr. Mithun Chittilappilly, Managing Director – V- Guard Industries Limited said, “During the fourth quarter, we have delivered a robust business performance, with solid growth in both revenues and profitability. Consolidated revenues for Q4 FY25 stood at ₹1,538 crore, reflecting a 14.5% year-on-year increase and representing the highest-ever quarterly revenue in our history. Consolidated Profit After Tax (PAT) for the quarter was ₹91 crore, up 19.6% year-on-year.

For the full year FY24-25, consolidated net revenues reached ₹5,578 crore, registering a 14.8% increase over the previous year. Consolidated PAT for the year was ₹314 crore, higher by 21.8% year- on-year. In light of this strong performance, the Board of Directors has recommended a final dividend of 150%, equating to ₹1.50 per equity share.

The Electronics segment led the growth in Q4, delivering a topline increase of 26.3% year-on-year, followed by the Electricals and Consumer Durables segments, which grew by 14.6% and 11.9%, respectively. Sunflame business is facing challenges in growth and we are taking appropriate steps to address the same. From a geographical perspective, the Non-South region posted a topline growth of approximately 18.6% YoY, while the South markets grew by 15.3% YoY.

Supported by strong cash flows, we have pre-closed the entire term loan related to Sunflame acquisition and are back to being a debt-free company. Our Board has approved an investment of ₹50 crore this quarter to expand the capacity of the Battery plant in Hyderabad, under V-Guard Consumer Products Limited (VCPL).

We have witnessed strong prefilling in channels anticipating sustained demand for cooling products through the summer. Having ended the financial year on a positive note, we look forward to the upcoming financial year with optimism backed by a robust pipeline of exciting product launches.”

Based on Consolidated Financials

Key Highlights – Q4 FY25

Revenue increased by 14.5% YoY in Q4 FY25

• Q4 FY25 revenue increased by 14.5% YoY to Rs. 1538.08 crore • South markets witnessed a YoY growth of 15.3% whereas Non-South markets grew by 18.6% in Q4 FY25 • Non-South markets contributed to 45.8% of total revenues in Q4 FY25 as compared to 45.1% in Q4 FY24

EBITDA performance and PAT

• Gross margin expanded by 100 bps YoY, at 35.5% in Q4 FY25 as compared to 34.5% in Q4 FY24 • Ad/promotional spends, at 2.6% of revenues in Q4 FY25 as compared to 3.2% in Q4 FY24 • EBITDA at Rs. 143.05 crore in Q4 FY25 grew 11.9% YoY, as compared to Rs. 127.85 crore in Q4 FY24 • EBITDA margin for Q4 FY25 is 9.3% as compared to 9.5% in Q4 FY24 • Q4 FY25 PAT increased 19.6% YoY to Rs. 91.13 crore

Robust cash flow generation and balance sheet

• CFO generation continued to remain strong for FY25 at Rs. 476.96 crore compared to Rs. 392.74 crore for FY24 • ROE and ROCE at 15.0% and 19.0%, respectively over the last 12 months • Net cash as on 31st March 2025 is Rs. 63.83 crore, as against net debt of Rs. 203.49 crore as on 31st March 2024.

Based on Consolidated Financials

P&L Snapshot (including Sunflame)

P&L Statement

Particulars

Net Revenue (NR)

COGS

Gross Margin

Q4 FY25

Q4 FY24

Change

Q3 FY25

FY25

FY24

Change

(Rs. Cr)

1,538.08

1,342.77

14.5%

1,268.65

5,577.82

4,856.67

991.77

879.20

12.8%

804.22

3,555.75

3,212.96

35.5%

34.5%

1.0%

36.6%

36.3%

33.8%

14.8%

10.7%

2.5%

EBITDA (excluding other income)

143.05

127.85

11.9%

104.14

513.23

426.71

20.3%

as a % to Net Revenue (NR)

Other Income (including finance income)

9.3%

4.50

9.5%

4.89

-0.2%

-8.0%

8.2%

5.43

9.2%

8.8%

0.4%

20.89

34.03

-38.6%

EBITDA including other income

147.55

132.74

11.2%

109.57

534.12

460.74

15.9%

as a % to NR

PBT

as a % to NR

PAT

as a % to NR

Based on Consolidated Financials

9.6%

9.9%

-0.3%

118.22

100.63

17.5%

7.7%

7.5%

0.2%

91.13

76.17

19.6%

5.9%

5.7%

0.2%

8.6%

78.74

6.2%

60.22

4.7%

9.6%

9.5%

0.1%

413.95

340.32

21.6%

7.4%

7.0%

0.4%

313.72

257.58

21.8%

5.6%

5.3%

0.3%

P&L Snapshot (excluding Sunflame)

P&L Statement

Particulars

Net Revenue (NR)

COGS

Gross Margin

Q4 FY25

Q4 FY24

Change

Q3 FY25

FY25

FY24

Change

(Rs. Cr)

1,482.76

1,269.79

16.8%

1,189.30

5,323.44

4,582.55

958.24

838.69

14.3%

753.02

3,396.51

3,043.02

35.4%

34.0%

1.4%

36.7%

36.2%

33.6%

16.2%

11.6%

2.6%

EBITDA (excluding other income)

142.04

119.90

18.5%

101.62

506.16

397.83

27.2%

as a % to Net Revenue (NR)

Other Income (including finance income)

9.6%

4.14

9.4%

4.09

0.2%

1.2%

8.5%

5.42

9.5%

8.7%

0.8%

19.87

31.29

-36.5%

EBITDA including other income

146.18

123.99

17.9%

107.04

526.03

429.12

22.6%

as a % to NR

PBT

as a % to NR

PAT

as a % to NR

Based on Consolidated Financials

9.9%

9.8%

0.1%

119.18

93.81

27.0%

8.0%

7.4%

0.6%

91.86

71.25

28.9%

6.2%

5.6%

0.6%

9.0%

78.01

6.6%

59.82

5.0%

9.9%

9.4%

0.5%

413.56

315.94

30.9%

7.8%

6.9%

0.9%

313.64

239.36

31.0%

5.9%

5.2%

0.7%

Financial Highlights (Q4 FY25 vs. Q4 FY24)

Net Revenue (Rs. crore)

Gross Profit (Rs. crore)

1,343

1,538

464

546

Key ratios (%)

Gross Margin

Q4 FY25

Q4 FY24

35.5%

34.5%

14.5%

17.8%

EBITDA Margin (excl. other income)

Q4 FY24

Q4 FY25

Q4 FY24

Q4 FY25

Profit after Tax Margin

EBITDA (Rs. crore)

PAT (Rs. crore)

128

143

11.9%

19.6%

Q4 FY24

Q4 FY25

Q4 FY24

Q4 FY25

Based on Consolidated Financials

Ad & Promotion Exp./ Revenue

Employee Cost/ Revenue

Other Expenditure/ Revenue

Tax rate

Diluted EPS (Rs.)

9.3%

5.9%

2.6%

8.9%

17.3%

22.9%

2.07

9.5%

5.7%

3.2%

8.0%

17.0%

24.3%

1.74

Financial Highlights (FY25 vs. FY24)

Net Revenue (Rs. crore)

Gross Profit (Rs. crore)

4,857

5,578

2,022

1,644

Key ratios (%)

Gross Margin

FY25

FY24

36.3%

33.8%

14.8%

23.0%

EBITDA Margin (excl. other income)

FY24

FY25

FY24

FY25

EBITDA (Rs. crore) 513

427

PAT (Rs. crore) 314

258

20.3%

21.8%

FY24

FY25

FY24

FY25

Based on Consolidated Financials

Profit after Tax Margin

Ad & Promotion Exp./ Revenue

Employee Cost/ Revenue

Other Expenditure/ Revenue

Tax rate

Diluted EPS (Rs.)

9.2%

5.6%

2.9%

9.3%

17.7%

24.2%

7.14

8.8%

5.3%

2.6%

8.3%

16.8%

24.3%

5.88

Financial Highlights – Balance Sheet Perspective

Balance Sheet Snapshot (Rs. Cr)

31 March 2025

31 December 2024

31 March 2024

Net Worth

Gross Debt

Current Investments

Cash & Cash Equivalents (inc. bank balance)

Net Cash Position

Fixed Assets

2,097.83

1,999.57

10.81

10.14

64.50

63.83

76.65

30.14

74.23

27.72

1,169.90

1,146.96

1,814.22

291.03

30.17

57.37

-203.49

1,116.81

Balance Sheet Snapshot

31 March 2025

31 December 2024

31 March 2024

Debtor (days)*

Inventory (days)*

Creditor (days)*

Working Capital Turnover (days)*

RoE* (%)

RoCE* (%)

102

15.0%

19.0%

106

14.9%

18.8%

14.2%

15.7%

Note: *Calculations are on a trailing twelve month basis

Based on Consolidated Financials

Segment-wise Breakup – Q4 FY25 vs. Q4 FY24

Segment Revenue

Electronics

Electricals

Consumer Durables

Sunflame

Grand Total

Segment Result

Electronics

Electricals

Consumer Durables

Sunflame

Grand Total

Q4 FY25 (Rs. Cr)

407.53

666.08

409.15

55.32

Contribution (%)

26.5%

43.3%

26.6%

3.6%

1,538.08

100.0%

Q4 FY25

(Rs. Cr)

77.76

76.93

13.91

0.61

169.21

Margin (%)

19.1%

11.5%

3.4%

1.1%

11.0%

Q4 FY24 (Rs. Cr) 322.76

581.37

365.66

72.98

1,342.77

Q4 FY24 (Rs. Cr) 48.31

72.41

12.93

7.32

140.97

Contribution (%)

YoY growth (%)

24.0%

43.3%

27.2%

5.5%

100.0%

Margin (%)

15.0%

12.5%

3.5%

10.0%

10.5%

26.3%

14.6%

11.9%

-24.2%

14.5%

YoY growth

(%)

61.0%

6.2%

7.6%

-91.7%

20.0%

Based on changes in internal reporting of segment results, certain costs pertaining to corporate functions which were previous allocated to various segments are now presented under unallocable expense. Accordingly, segment information including comparatives for previous periods have been restated.

Electronics – Stabilizers, UPS, Inverters Electricals – Wires, Pumps, Switchgears, Modular Switches Consumer Durables – Fans, Water Heaters, Kitchen Appliances, Air Coolers Sunflame – Products sold under trademark Sunflame and Superflame

Based on Consolidated Financials

Segment-wise Breakup – FY25 vs. FY24

Segment Revenue

Electronics

Electricals

Consumer Durables

Sunflame

Grand Total

Segment Result

Electronics

Electricals

Consumer Durables

Sunflame

Grand Total

FY25 (Rs. Cr)

1,509.63

2,169.94

1,643.87

254.38

5,577.82

FY25

(Rs. Cr)

296.91

218.16

69.38

6.40

590.85

Contribution (%)

27.0%

38.9%

29.5%

4.6%

100.0%

Margin (%)

19.7%

10.1%

4.2%

2.5%

10.6%

FY24 (Rs. Cr) 1,165.20

1,973.07

1,444.28

274.12

4,856.67

FY24 (Rs. Cr) 192.31

212.63

48.47

26.45

479.86

Contribution (%)

YoY growth (%)

24.0%

40.6%

29.7%

5.7%

100.0%

Margin (%)

16.5%

10.8%

3.4%

9.6%

9.9%

29.6%

10.0%

13.8%

-7.2%

14.8%

YoY growth

(%)

54.4%

2.6%

43.1%

-75.8%

23.1%

Based on Consolidated Financials

Geographical Breakup of Revenues

Region

South Non-South Total (excl. Sunflame) Sunflame Total Revenue

Region

South Non-South Total (excl. Sunflame) Sunflame Total Revenue

Q4 FY25 (Rs. Cr) 802.95 679.81 1,482.76 55.32 1,538.08

FY25 (Rs. Cr) 2,792.97 2,530.47 5,323.44 254.38 5,577.82

Contribution (%)

54.2% 45.8% 100.0%

Contribution (%)

52.5% 47.5% 100.0%

Q4 FY24 (Rs. Cr) 696.70 573.09 1,269.79 72.98 1,342.77

FY24 (Rs. Cr) 2,484.83 2,097.72 4,582.55 274.12 4,856.67

Contribution (%)

54.9% 45.1% 100.0%

Contribution (%)

54.2% 45.8% 100.0%

YoY growth (%) 15.3% 18.6% 16.8% -24.2% 14.5%

YoY growth (%) 12.4% 20.6% 16.2% -7.2% 14.8%

Based on Consolidated Financials

Market Overview of V-Guard’s Product Portfolio

Electronics

Product

Total Market Size (Rs. Crs.)

Indicative Org. Market Size (%)

Industry Growth Rate (%)

VG Share in Org. Market (%)

Other Key Players

Stabilizers

1,600-2,000

65-70%

4-6%

40-45%

DUPS & Battery

13,000-16,000

65-70%

13-15%

5-7%

Microtek, Everest, Premier

Exide, Luminous, Microtek

Electricals

Product

Total Market Size (Rs. Crs.)

Indicative Org. Market Size (%)

Industry Growth Rate (%)

VG Share in Org. Market (%)

Other Key Players

House Wiring Cables 21,000-25,000

65-70%

9-10%

8-9%

Switchgears*

4,000-4,500

75-80%

8-10%

~ 5%

Modular Switches

7,000-9,000

75-80%

12-14%

Pumps*

5,000-6,000

65-70%

7-9%

9-12%

Polycab, Finolex, Havells

Legrand, Havells, Anchor

Anchor, Legrand, Havells

Crompton, Kirloskar, Texmo

*Market estimates of VG active product segments only | ** Recent entry/ Growth plan under activation

Market Overview of V-Guard’s Product Portfolio

Appliances

Product

Total Market Size (Rs. Crs.)

Indicative Org. Market Size (%)

Industry Growth Rate (%)

VG Share in Org. Market (%)

Other Key Players

Water Heaters

3,000-4,000

80-85%

8-10%

14-16%

Bajaj, Havells, Crompton, Racold

Electric Fans

12,000-14,000

80-85%

8-10%

5-7%

Crompton, Havells, Orient, Usha, Bajaj

Solar Water Heaters

800-900

60-65%

5-7%

15-17%

Sudarshan Saur, Supreme Solar, Racold

Air Coolers

6,500-8,000

35-40%

11-12%

Symphony, Bajaj, Voltas

Kitchen Appliances

• Mixer Grinders • Gas Stoves • Water Purifiers • Other Kitchen Appliances#

3,500-5,000 2,500-3,000 6,000-6,500 2,200-2,500

70-75% 60-65% 60-65% 75-80%

9-10% 11-13% 15-18% 10-15%

** 5-7% ** **

Mixer Grinders - Bajaj, Preethi, Butterfly Gas Stoves - Prestige, Butterfly Water Purifiers - Eureka Forbes, Kent RO, HUL Pureit Others - Faber, Bajaj, Havells

# Includes Induction Cooktop, Rice Cooker, Sandwich Makers, Toasters, Grills, Kettles, Chimneys, etc. ** Recent entry/ Growth plan under activation

About V-Guard Industries

V-Guard Industries Limited (BSE:532953, NSE: VGUARD) is a Kochi based company, founded in 1977 by Kochouseph Chittilappilly to manufacture and market Voltage stabilizers. The Company has since then established a strong brand name and aggressively diversified to become a multi-product Company catering to the Light Electricals sector manufacturing Voltage stabilizers, Digital UPS systems & Batteries, Pumps, House wiring cables, Switch gears, Modular switches, Electric water heaters, Fans, Solar water heaters, Air coolers and various Kitchen appliances.

V-Guard outsources ~ 35% of its product profile while the rest are manufactured in – house while keeping a strong control in designs and quality. It has manufacturing (Tamil Nadu), Kashipur, Pantnagar & Haridwar facilities at Coimbatore (Uttarakhand), Kala Amb (Himachal Pradesh), Hyderabad (Telangana), Faridabad (Haryana), Sikkim and Vapi (Gujarat).

V-Guard has been a dominant player in the South market, though the last ten years have also seen the Company expanding rapidly in the non-South geographies with their contribution increasing from 5% of total revenues in FY08 to around 48% of total revenues in FY25. Significant investments continue to be made to expand its outlet coverage in the non-South geographies and become a dominant pan-India player.

V-Guard has a diversified client base and an extensive marketing & distribution network. Its client base differs from product to product and includes direct marketing agents, distributors and retailers. The Company today has a strong network of 35 branches which cover ~1,00,000+ channel partners across the country.

For further information, please contact:

Sudarshan Kasturi (CFO)

V-Guard Industries Limited

Tel: +91 484 300 5601

Email: sudarshan.kasturi@vguard.in

Mayank Vaswani / Shruti Joshi

CDR India

Tel: +91 982 094 0953 / +91 750 656 7349

Email: mayank@cdr-india.com / shruti@cdr-india.com

THANK YOU

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