PRESS RELEASES

V-Guard's net sales up by 45 % and net profit up by 46% for Q3 of 2011-12

The Board of Directors of V-Guard Industries Limited, the electronic and electrical major, today considered and adopted the unaudited financial results of Company for the quarter ended 31st December, 2011.

The net sales of the Company rose to Rs. 256.86 crores, showing an increase of 45%, from net sales of Rs. 176.80 crores, achieved in the corresponding period of the previous year. The Company achieved a Profit After Tax of Rs. 12.45 crores during the quarter under review, thereby, showing an increase of 46% over the Profit After Tax of Rs. 8.55 crores, achieved in the corresponding period of the previous year.

The net sales of the Company for the first nine months ended, rose to Rs. 715.96 crores, showing an increase of 42% from net sales of Rs. 503.75 crores, achieved in the corresponding period of the previous year.

Mithun K. Chittilappilly, Executive Director, said that product verticals like motor pumps, cables, digital UPS and stabilizers, have contributed to sales growth. He said that the Management has introduced various cost control initiatives, which has resulted in improved margins in the current inflationary environment.

Dr. George Sleeba, Joint Managing Director said that the new solar water heater plant, with new and improved technology, built at a cost of Rs. 10.50 crores, will become operational in February 2012.

V-Guard's net sales for Q2 of 2011-12 up by 38 %

The Board of Directors of V-Guard Industries Limited, the electronic and electrical major, today considered and adopted the unaudited financial results of Company for the quarter ended 30th September, 2011. 

The net sales of the Company rose to Rs. 219.02 crores, showing an increase of 38%, from net sales of Rs. 158.74 crores, achieved in the corresponding period of the previous year. The Company achieved a Profit After Tax of Rs. 6.84 crores during the quarter under review, which is less by 22% when compared with the Profit After Tax for the corresponding quarter of the previous year, which was Rs. 8.78 crores. The figure relating to net profit after tax was less by 3.4% for the half year ended 30th September, 2011, when compared to the corresponding period of the last year. Decline in profit was due to unfavourable market conditions, increased selling expenditure, material cost and also overheads. 

The net sales of the Company for the first six months ended rose to Rs. 459.09 crores, showing an increase of 40%, from net sales of Rs. 326.95 crores achieved in the corresponding period of the previous year.

Mithun K. Chittilappilly, Executive Director, said that sales of major product lines such as cables, stabilizers, pumps and electric water heaters, were good. He said that though there was a strain on the profitability, the Company was able to keep the growth momentum and expected to do better in the coming season. He also added that the Company was going ahead with the CAPEX plans approved and expects completion of the projects by the end of the fiscal.

V Guard receives MNRE CRISIL rating for Solar Water Heater Division

The Solar Water Heater Division was awarded the prestigious MNRE – CRISIL rating, which indicates high performance capability and moderate financial strength of the Company to undertake off-grid projects in Solar Thermal Technology. The Ministry of New and Renewable Energy accredits companies that have efficient products and capabilities for this certification.

V-Guard announces the 'Big Idea- Business Plan Contest 2011' for MBA & B-Tech students.

V- Guard, the consumer electrical and electronic major, launched a business plan contest. The V- Guard 'Big Idea Business Plan Contest' was aimed at promoting a spirit of entrepreneurship and innovation among MBA & B-Tech students across India. The contest provided a unique opportunity for students to get creative, propose new business avenues for V-Guard and draw up a business plan on what they thought V-Guard's next move for growth, differentiation and leadership, should be.

The contest had different phases. Teams had to register online before 5th September, 2011 .Registered teams would be sent an online brief. The teams would then have to submit a short executive summary of their business plan for V-Guard. The top 20 shortlisted teams would advance to the contest's finals. In this phase, each team was mentored by a V-Guard Manager and would submit their final written report of the plan on or before 15th October 2011. This was followed up with an oral presentation before the Top Management of V-Guard. The performance of the teams was evaluated based on the written report and the oral presentation. The first prize was Rs. 1, 00,000, the second prize was Rs. 50,000 and the third prize was Rs. 25,000. 

The Business Plan Contest Finals were held on October 21st and 22nd, 2011.