VGUARDNSE29 October 2025

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

V-Guard Industries Limited

October 29, 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 Un-Audited Financial Results of the Company for the quarter and half year ended September 30, 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 Q2 FY26 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 Q2 FY26, Mr. Mithun Chittilappilly, Managing Director – V-Guard Industries Limited said, “In Q2FY26, the business delivered modest growth across segments due to headwinds such as higher than average rainfall, weak demand and GST transition. In this backdrop, we have delivered a resilient performance. Consolidated Net Revenue from operations was ₹1,341 crore, growing 3.6% over the same period last year. Consolidated Profit After Tax (PAT) for the quarter was ₹65 crore compared to ₹63 crore in Q2 of the previous year, an increase of 3% YoY.

The Electronics segment led the growth with a 5.3% year-on-year increase in topline, followed by Electricals and Consumer Durables, which grew by 4.7% and 1%, respectively. Sunflame registered growth of 3.4% YoY, ensuring that all segments reported positive growth. From a regional perspective, South markets grew by 4.3% YoY while Non-South markets posted growth of 2.8% YoY.

Gross margin improved further during the quarter, sustaining the gains we have made in recent quarters.

The merger of Sunflame with V-Guard is progressing well and is expected to unlock significant synergies and operational efficiencies.

Reforms introduced as part of GST 2.0 are a welcome step towards simplifying the tax structure and boosting consumption. We expect the improvement in demand to start reflecting in the coming quarters.”

Based on Consolidated Financials

Key Highlights – Q2 FY26

Revenue increased by 3.6% YoY in Q2 FY26

• Q2 FY26 revenue increased by 3.6% YoY to Rs. 1340.92 crore • South markets witnessed a YoY growth of 4.3% whereas Non-South markets grew by 2.8% in Q2 FY26 • Non-South markets contributed to 44.1% of total revenues in Q2 FY26 as compared to 44.5% in Q2 FY25

EBITDA performance and PAT

• Gross margin expanded by 140 bps YoY, at 37.6% in Q2 FY26 as compared to 36.2% in Q2 FY25 • Ad/promotional spends, at 2.9% of revenues in Q2 FY26 as compared to 3.0% in Q2 FY25 • EBITDA at Rs. 109.26 crore in Q2 FY26 declined 0.9% YoY, as compared to Rs. 110.26 crore in Q2 FY25 • EBITDA margin for Q2 FY26 is 8.1% as compared to 8.5% in Q2 FY25 • Q2 FY26 PAT increased 3.0% YoY to Rs. 65.29 crore

Robust cash flow generation and balance sheet

• CFO generation for H1 FY26 at Rs. 195.08 crore compared to Rs. 335.76 crore for H1 FY25 • ROE and ROCE at 13.3% and 16.4%, respectively over the last 12 months • Net cash as on 30th September 2025 is Rs. 92.78 crore, as against net cash of Rs. 4.26 crore as on 30th September 2024.

Based on Consolidated Financials

P&L Snapshot (including Sunflame)

Q2 FY26

(Rs. Cr)

Q2 FY25

(Rs. Cr)

Change

Q1 FY26

(Rs. Cr)

H1 FY26

(Rs. Cr)

H1 FY25

(Rs. Cr)

Change

P&L Statement

Particulars

Net Revenue (NR)

COGS

Gross Margin

1,340.92

1,293.99

837.10

824.96

37.6%

36.2%

EBITDA (excluding other income)

109.26

110.26

as a % to NR

Other Income (including finance income)

8.1%

4.91

8.5%

4.05

EBITDA including other income

114.17

114.31

as a % to NR

PBT

as a % to NR

PAT

as a % to NR

Based on Consolidated Financials

8.5%

85.08

6.3%

65.29

4.9%

8.8%

84.62

6.5%

63.39

4.9%

3.6%

1.5%

1.4%

-0.9%

-0.4%

21.2%

-0.1%

-0.3%

0.5%

-0.2%

3.0%

0.0%

1,466.08

2,807.00

2,771.09

925.41

1,762.51

1,759.74

36.9%

37.2%

36.5%

1.3%

0.2%

0.7%

123.59

232.85

266.03

-12.5%

8.4%

5.25

8.3%

10.16

9.6%

10.96

-1.3%

-7.3%

128.84

243.01

276.99

-12.3%

8.8%

98.26

6.7%

73.85

5.0%

8.7%

10.0%

-1.3%

183.34

216.98

-15.5%

6.5%

7.8%

-1.3%

139.14

162.36

-14.3%

5.0%

5.9%

-0.9%

P&L Snapshot (excluding Sunflame)

Q2 FY26

Q2 FY25

Change

(Rs. Cr)

Q1 FY26

(Rs. Cr)

H1 FY26

(Rs. Cr)

H1 FY25

(Rs. Cr)

Change

P&L Statement

Particulars

Net Revenue (NR)

COGS

Gross Margin

1,277.78

1,232.94

799.90

786.22

37.4%

36.2%

EBITDA (excluding other income)

105.10

109.36

as a % to NR

Other Income (including finance income)

8.2%

4.58

8.9%

3.76

EBITDA including other income

109.68

113.12

as a % to NR

PBT

as a % to NR

PAT

as a % to NR

Based on Consolidated Financials

8.6%

82.54

6.5%

60.82

4.8%

9.2%

85.24

6.9%

63.79

5.2%

3.6%

1.7%

1.2%

-3.9%

-0.7%

21.8%

-3.0%

-0.6%

-3.2%

-0.4%

-4.7%

-0.4%

1,410.57

2,688.35

2,651.38

892.42

1,692.32

1,685.23

36.7%

37.0%

36.4%

1.4%

0.4%

0.6%

121.31

226.41

262.50

-13.7%

8.6%

4.91

8.4%

9.49

9.9%

10.31

-1.5%

-8.0%

126.22

235.90

272.81

-13.5%

8.9%

97.48

6.9%

73.29

5.2%

8.8%

10.3%

-1.5%

180.02

216.37

-16.8%

6.7%

8.2%

-1.5%

136.65

161.96

-15.6%

5.1%

6.1%

-1.0%

Financial Highlights (Q2 FY26 vs. Q2 FY25)

Net Revenue (Rs. crore)

Gross Profit (Rs. crore)

1,294

1,341

469

504

Key ratios (%)

Gross Margin

Q2 FY26

Q2 FY25

37.6%

36.2%

3.6%

7.4%

EBITDA Margin (excl. other income)

Q2 FY25

Q2 FY26

Q2 FY25

Q2 FY26

Profit after Tax

EBITDA (Rs. crore)

PAT (Rs. crore)

110

109

-0.9%

3.0%

Q2 FY25

Q2 FY26

Q2 FY25

Q2 FY26

Based on Consolidated Financials

Ad & Promotion Exp./ Net Revenue

Employee Cost/ Net Revenue

Other Expenditure/ Net Revenue

Tax rate

Diluted EPS (Rs.)

8.1%

4.9%

2.9%

10.2%

19.3%

23.3%

1.48

8.5%

4.9%

3.0%

10.0%

17.7%

25.1%

1.44

Financial Highlights (H1 FY26 vs. H1 FY25)

Net Revenue (Rs. crore)

2,771

2,807

Gross Profit (Rs. crore)

1,011

1,044

1.3%

3.3%

H1 FY25

H1 FY26

H1 FY25

H1 FY26

EBITDA (Rs. crore) 266

233

PAT (Rs. crore)

162

139

-12.5%

-14.3%

H1 FY25

H1 FY26

H1 FY25

H1 FY26

Based on Consolidated Financials

Key ratios (%)

Gross Margin

EBITDA Margin (excl. other income)

Profit after Tax

Ad & Promotion Exp./ Net Revenue

Employee Cost/ Net Revenue

Other Expenditure/ Net Revenue

Tax rate

Diluted EPS (Rs.)

H1 FY26

H1 FY25

37.2%

36.5%

8.3%

5.0%

3.0%

9.9%

19.1%

24.1%

3.16

9.6%

5.9%

2.9%

9.1%

17.8%

25.2%

3.70

Financial Highlights – Balance Sheet Perspective

Balance Sheet Snapshot (Rs. Cr)

30 September 2025

30 June 2025

30 September 2024

Net Worth

Gross Debt

Current Investments

Cash & Cash Equivalents (inc. bank balance)

Net Cash Position

Fixed Assets

2,190.12

7.49

45.19

55.08

92.78

1,225.12

2,182.20

10.59

60.26

105.65

155.32

1,182.56

1,930.94

146.91

80.46

70.71

4.26

1,130.47

Balance Sheet Snapshot

30 September 2025

30 June 2025

30 September 2024

Debtor (days)*

Inventory (days)*

Creditor (days)*

Working Capital Turnover (days)*

RoE* (%)

RoCE* (%)

102

13.3%

16.4%

102

13.2%

16.7%

15.4%

18.9%

Note: *Calculations are on a trailing twelve month basis

Based on Consolidated Financials

Segment-wise Breakup – Q2 FY26 vs. Q2 FY25

Segment Revenue

Electronics

Electricals

Consumer Durables

Sunflame

Grand Total

Segment Result

Electronics

Electricals

Consumer Durables

Sunflame

Grand Total

Contribution (%)

YoY growth (%)

Q2 FY26 (Rs. Cr)

319.07

562.62

396.09

63.14

Contribution (%)

23.8%

42.0%

29.5%

4.7%

Q2 FY25 (Rs. Cr)

302.99

537.61

392.34

61.05

23.4%

41.6%

30.3%

4.7%

1,340.92

100.0%

1,293.99

100.0%

Q2 FY26

(Rs. Cr)

54.86

65.01

6.91

4.13

130.91

Margin (%)

17.2%

11.6%

1.7%

6.5%

9.8%

Q2 FY25

(Rs. Cr)

59.45

49.12

16.08

0.86

125.51

Margin (%)

19.6%

9.1%

4.1%

1.4%

9.7%

5.3%

4.7%

1.0%

3.4%

3.6%

YoY growth

(%)

-7.7%

32.3%

-57.0%

380.2%

4.3%

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 – H1 FY26 vs. H1 FY25

Segment Revenue

Electronics

Electricals

Consumer Durables

Sunflame

Grand Total

Segment Result

Electronics

Electricals

Consumer Durables

Sunflame

Grand Total

H1 FY26 (Rs. Cr)

855.36

1,087.32

745.67

118.65

2,807.00

H1 FY26

(Rs. Cr)

159.73

112.38

-0.26

6.56

278.41

Contribution (%)

30.5%

38.7%

26.6%

4.2%

100.0%

Margin (%)

18.7%

10.3%

0.0%

5.5%

9.9%

H1 FY25 (Rs. Cr)

816.11

1,025.31

809.96

119.71

2,771.09

H1 FY25

(Rs. Cr)

162.96

98.29

37.81

3.59

302.65

Contribution (%)

YoY growth (%)

29.5%

37.0%

29.2%

4.3%

100.0%

Margin (%)

20.0%

9.6%

4.7%

3.0%

10.9%

4.8%

6.0%

-7.9%

-0.9%

1.3%

YoY growth

(%)

-2.0%

14.3%

-100.7%

82.7%

-8.0%

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

Q2 FY26 (Rs. Cr) 713.73 564.05 1,277.78 63.14 1,340.92

H1 FY26 (Rs. Cr) 1,386.76 1,301.59 2,688.35 118.65 2,807.00

Contribution (%)

55.9% 44.1% 100.0%

Contribution (%)

51.6% 48.4% 100.0%

Q2 FY25 (Rs. Cr) 684.47 548.47 1,232.94 61.05 1,293.99

H1 FY25 (Rs. Cr) 1,375.45 1,275.93 2,651.38 119.71 2,771.09

Contribution (%)

55.5% 44.5% 100.0%

Contribution (%)

51.9% 48.1% 100.0%

YoY growth (%) 4.3% 2.8% 3.6% 3.4% 3.6%

YoY growth (%) 0.8% 2.0% 1.4% -0.9% 1.3%

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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