| ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | 1,853 | 1,341 | +38.2% |
| EBITDA | 168 | 109 | +53.7% |
| EBITDA margin | 9.1% | 8.2% | +0.9 pts |
| Profit before tax | 150 | 85.1 | +76.0% |
| Net profit | 112 | 65.3 | +71.0% |
| EPS | ₹2.54 | ₹1.49 | +70.5% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 11,532 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 527 | 228 | 60.1 | 77.6 | 39.7 | ||
| 8.8 | 8.8 | 10.8 | 291 | 420 | ||
| 11,013 | — | — | — | — | ||
| 6,822 | 5,966 | 5,578 | 4,857 | 4,126 | ||
| — | +7.0% | +14.8% | +17.7% | — | ||
| 653 | 527 | 513 | 427 | 320 | ||
| 9.6% | 8.8% | 9.2% | 8.8% | 7.8% | ||
| 542 | 419 | 418 | 346 | 255 | ||
| 411 | 308 | 314 | 258 | 189 | ||
| 6.0% | 5.2% | 5.6% | 5.3% | 4.6% | ||
| ₹9.41 | ₹7.06 | ₹7.18 | ₹5.90 | ₹4.33 | ||
| — | −1.7% | +21.8% | +36.2% | — | ||
| — | 459 | 477 | 393 | 424 | ||
| — | −180 | −121 | −128 | −103 | ||
| 279 | 279 | 356 | 265 | 321 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 11,531.5 | |
| - Cash, Equiv & ST Investments | 39.7 | 77.6 | 60.1 | 227.6 | 527.0 | |
| + Total Debt | 419.6 | 291.0 | 10.8 | 8.8 | 8.8 | |
| Enterprise Value | — | — | — | — | 11,013.4 | |
| Revenue | 4,126.0 | 4,856.7 | 5,577.8 | 5,965.8 | 6,822.3 | |
| Growth %, YoY | — | +17.7 | +14.8 | +7.0 | — | |
| EBITDA | 319.9 | 426.7 | 513.2 | 526.8 | 652.8 | |
| Margin % | 7.75 | 8.79 | 9.20 | 8.83 | 9.57 | |
| EBIT | 255.5 | 345.8 | 417.6 | 418.9 | 541.6 | |
| Net Income | 189.0 | 257.6 | 313.7 | 308.3 | 411.1 | |
| Margin % | 4.58 | 5.30 | 5.62 | 5.17 | 6.03 | |
| EPS, Adj (current shares) | 4.33 | 5.90 | 7.18 | 7.06 | 9.41 | |
| Growth %, YoY | — | +36.2 | +21.8 | -1.7 | — | |
| Cash from Operations | 423.8 | 392.7 | 477.0 | 458.6 | — | |
| Capital Expenditures | -102.6 | -128.2 | -120.7 | -179.9 | — | |
| Free Cash Flow | 321.2 | 264.5 | 356.3 | 278.7 | 278.7 | |
Prices at the 29 October 2026 close · figures from the company's filings with NSE
V-Guard Industries (NSE: VGUARD) had a market capitalisation of ₹12,445 crore at the 29 October 2026 close (₹284.85 a share), a PE ratio of 30.3 on the last four quarters' profit and a price-to-book ratio of 4.86. In FY26 its consolidated net profit was ₹308 crore on revenue of ₹5,966 crore; in Q2 FY27 (July–September 2026) it was ₹112 crore, up 71.0% year on year. Its debt-to-equity ratio was 0.00 on 30 September 2026. Promoters held 53.21% of the shares on 30 September 2026.
V-Guard Industries' PE ratio is 30.3 at the 29 October 2026 close (₹284.85 a share): a market capitalisation of ₹12,445 crore divided by consolidated net profit of ₹411 crore over the last four quarters (Q3 FY26 to Q2 FY27). On FY26 net profit (₹308 crore) it is 40.4.
No. V-Guard Industries had borrowings of ₹8 crore on 30 September 2026 (consolidated balance sheet), a debt-to-equity ratio of 0.00. Its cash and current investments were ₹538 crore, so it held net cash of ₹530 crore.
V-Guard Industries' debt-to-equity ratio was 0.00 on 30 September 2026: borrowings of ₹8 crore against total equity of ₹2,563 crore. A year earlier, on 30 September 2025, it was 0.00.
V-Guard Industries' price-to-book (PB) ratio is 4.86 at the 29 October 2026 close: a market capitalisation of ₹12,445 crore divided by shareholders' equity (book value) of ₹2,563 crore on 30 September 2026. That is a book value of ₹58.67 per share against a share price of ₹284.85.
V-Guard Industries' net worth — shareholders' equity in its consolidated balance sheet — was ₹2,563 crore on 30 September 2026, up 17.0% from ₹2,190 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹12,445 crore at the 29 October 2026 close.
In FY26, V-Guard Industries' return on equity (ROE) was 13.8% and its return on capital employed (ROCE) was 17.0%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 16.0% and ROCE 18.7%.
V-Guard Industries' market capitalisation was ₹12,445 crore at the 29 October 2026 close: 43.69 crore shares at ₹284.85 each.
V-Guard Industries' basic earnings per share (EPS) were ₹7.03 in FY26, against ₹7.17 in FY25. Over the last four quarters (Q3 FY26 to Q2 FY27) they add up to ₹9.37.
In 2026, V-Guard Industries has declared one dividend: ₹1.50 with record date 31 July 2026.
V-Guard Industries' book value per share was ₹58.67 on 30 September 2026: shareholders' equity of ₹2,563 crore divided by the 43.69 crore shares in issue, up 16.8% from ₹50.23 a year earlier. The share price at the 29 October 2026 close was ₹284.85.
Promoters held 53.21% of V-Guard Industries on 30 September 2026, down 0.01 percentage points from 53.22% the previous quarter and down 0.11 percentage points from 53.32% a year earlier, according to the shareholding pattern filed with NSE.
V-Guard Industries' latest results are for Q2 FY27 (July–September 2026), filed on 29 October 2026: consolidated net profit ₹112 crore, up 71.0% from ₹65.3 crore in Q2 FY26; revenue from operations ₹1,853 crore, up 38.2% year on year.
V-Guard Industries' dividend yield is 0.53% at the 29 October 2026 close: dividends of ₹1.50 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹284.85. They were ₹1.50 on 31 July 2026.
In FY26, V-Guard Industries generated ₹459 crore of cash from operations and spent ₹180 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of ₹279 crore. In FY25 it was ₹356 crore.
V-Guard Industries has reported Q2 FY27. Its next results, for Q3 FY27 (October–December 2026), are due by 14 February 2027 under SEBI's 45-day rule; the company notifies the board-meeting date at least two working days before.
On 30 September 2026, V-Guard Industries' shares were held by promoters 53.21%, foreign portfolio investors (FII/FPI) 13.02%, domestic institutions (DII) 21.62% (including mutual funds at 20.96%) and retail and other non-institutional investors 12.15%. Over the year, FII holding was up 0.57 percentage points from 12.45% and DII holding was down 1.24 percentage points from 22.86%.
In FY26 (April 2025–March 2026), V-Guard Industries' consolidated net profit was ₹308 crore, down 1.7% from ₹314 crore in FY25, on revenue from operations of ₹5,966 crore (up 7.0%). Over three years, from FY23, net profit was up 63.0%.
In FY26, V-Guard Industries earned net profit of ₹308 crore on revenue of ₹5,966 crore, against ₹1,691 crore on ₹22,528 crore for Havells India. V-Guard Industries' operating margin was 7.0% (Havells India 7.9%) and its return on equity 13.8% (Havells India 19.0%). At the 29 October 2026 close, V-Guard Industries' market capitalisation was ₹12,445 crore against ₹64,005 crore for Havells India, and its PE ratio on FY26 profit 40.4 against 37.9.
On FY26 consolidated figures, against Havells India, Crompton Greaves Consumer Electricals and Polycab India: V-Guard Industries' operating margin of 7.0% is the lowest of the four (Havells India 7.9%, Crompton Greaves Consumer Electricals 8.1%, Polycab India 12.5%; peer average 9.5%); its return on equity of 13.8% is the third highest of the four (Havells India 19.0%, Crompton Greaves Consumer Electricals −7.6%, Polycab India 24.5%; peer average 12.0%); its revenue growth over three years of 13.1% a year is the second highest of the four (Havells India 10.0% a year, Crompton Greaves Consumer Electricals 5.6% a year, Polycab India 27.0% a year; peer average 14.2% a year).
From V-Guard Industries' own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 29 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.