V-Guard Industries cash flow

Latest FY26

Cash from operations: ₹459cr−3.9% on FY25
Capital spending: ₹180cr+49.1% on FY25
Free cash flow: ₹279cr−21.8% on FY25
Cash from financing: −₹97.7cr−₹378 cr in FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	108	95.7	80.9	64.4
	—	−0.2	−0.7	0.0	−3.1
	—	12.4	24.5	39.5	16.2
	—	−2.3	−2.3	−2.8	−2.4
	—	−0.6	0.0	−17.1	0.0
	—	27.1	25.9	2.0	0.0
	—	−1.2	0.2	0.0	0.0
	—	0.0	0.0	0.0	13.4
	—	−2.2	−5.1	7.0	−13.0
	—	−26.6	−185	−44.4	128
	—	7.9	52.5	−44.7	−30.2
	—	−1.3	0.0	3.3	−6.4
	—	0.0	−0.9	0.0	0.0
	—	−31.1	6.3	−33.1	33.1
	—	83.2	108	62.1	15.2
	—	−64.2	33.9	41.1	−12.0
	—	14.3	4.3	21.6	−0.4
	—	0.0	−0.3	0.0	0.0
	—	35.1	14.2	20.3	14.0
Cash from operating activities
	546	408	414	340	256
	—	158	171	136	217
	—	566	585	476	473
	—	108	108	83.3	48.8
	—	459	477	393	424
Cash from investing activities
	—	180	121	128	103
	—	0.7	0.9	0.0	1.5
	—	0.0	1.1	0.8	0.0
	—	166	0.0	0.0	0.0
	—	0.0	0.0	0.0	655
	—	9.0	0.0	0.0	0.0
	—	10.6	0.0	0.0	0.0
	—	2.3	2.2	2.9	2.1
	—	−23.0	19.5	−28.1	−16.8
	—	−364	−96.9	−153	−771
Cash from financing activities
	—	6.0	8.0	6.1	2.0
	—	2.0	280	130	−408
	—	23.9	18.6	16.0	11.4
	—	12.4	25.7	36.5	16.2
	—	65.4	61.1	56.3	56.1
	—	−97.7	−378	−232	326
	—	−3.1	2.5	7.9	−21.3
	—	−3.1	2.5	7.9	−21.3
	—	—	—	47.5	39.5
Reference items
	653	527	513	427	320
	9.6%	8.8%	9.2%	8.8%	7.8%
	279	279	356	265	321
	—	264	50.4	99.4	—
	₹6.38	₹6.38	₹8.16	₹6.06	₹7.35
	44.64×	—	—	—	—
	—	1.49×	1.52×	1.52×	2.24×
	—	108	108	83.3	48.8
	—	12.4	25.7	36.5	16.2

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

VGUARD₹284.85

V-Guard Industries Ltd.

· Consumer Goods

₹ CrorePeersHAVELLS CROMPTON POLYCAB VIPIND VAIBHAVGBL WAKEFIT THANGAMAYL SKYGOLDMcap ₹12,442 Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	64.4	80.9	95.7	107.9	—
+ Impairment Loss / (Reversal)	-3.1	0.0	-0.7	-0.2	—
+ Finance Costs	16.2	39.5	24.5	12.4	—
+ Interest Income	-2.4	-2.8	-2.3	-2.3	—
+ Fair Value (Gains) / Losses	0.0	-17.1	0.0	-0.6	—
+ Share-based Payments	0.0	2.0	25.9	27.1	—
+ Unrealised FX (Gain) / Loss	0.0	0.0	0.2	-1.2	—
+ Other Non-cash Items	13.4	0.0	0.0	0.0	—
+ Other Reconciling Items	-13.0	7.0	-5.1	-2.2	—
Changes in Working Capital
+ Inventories	128.1	-44.4	-185.5	-26.6	—
+ Trade Receivables — Current	-30.2	-44.7	52.5	7.9	—
+ Other Financial Assets — Current	-6.4	3.3	0.0	-1.3	—
+ Other Financial Assets — Non-current	0.0	0.0	-0.9	0.0	—
+ Other Current Assets	33.1	-33.1	6.3	-31.1	—
+ Trade Payables — Current	15.2	62.1	107.9	83.2	—
+ Other Financial Liabilities — Current	-12.0	41.1	33.9	-64.2	—
+ Other Current Liabilities	-0.4	21.6	4.3	14.3	—
+ Other Non-current Liabilities	0.0	0.0	-0.3	0.0	—
+ Provisions — Current	14.0	20.3	14.2	35.1	—
Cash from Operating Activities
Profit Before Tax (per I/S)	255.7	340.3	414.0	407.9	546.2
+ Total Adjustments (incl. Working Capital)	216.9	135.7	170.7	158.3	—
Cash from Operations (pre-tax)	472.7	476.0	584.7	566.2	—
+ Income Taxes Paid	48.8	83.3	107.7	107.6	—
Cash from Operating Activities	423.8	392.7	477.0	458.6	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	102.6	128.2	120.7	179.9	—
+ Disp of Fixed Assets	1.5	0.0	0.9	0.7	—
+ Disp of Investment Property	0.0	0.8	1.1	0.0	—
+ Acq of Other Long-term Assets	0.0	0.0	0.0	165.6	—
+ Acq of Subsidiaries / Businesses (net)	655.3	0.0	0.0	0.0	—
+ Loans & Advances Made	0.0	0.0	0.0	9.0	—
+ Loans & Advances Repaid	0.0	0.0	0.0	10.6	—
+ Interest Received — Investing	2.1	2.9	2.2	2.3	—
+ Other Inflows / (Outflows) — Investing	-16.8	-28.1	19.5	-23.0	—
Cash from Investing Activities	-771.2	-152.6	-96.9	-363.9	—
Cash from Financing Activities
+ Proceeds from Exercise of Stock Options	2.0	6.1	8.0	6.0	—
+ Repayment of Borrowings	-407.8	129.6	280.2	2.0	—
+ Payment of Lease Liabilities	11.4	16.0	18.6	23.9	—
+ Interest Paid	16.2	36.5	25.7	12.4	—
+ Dividends Paid	56.1	56.3	61.1	65.4	—
Cash from Financing Activities	326.1	-232.2	-377.5	-97.7	—
Net Changes in Cash (pre-FX)	-21.3	7.9	2.5	-3.1	—
Net Changes in Cash	-21.3	7.9	2.5	-3.1	—
Closing Cash	39.5	47.5	—	—	—
Reference Items
EBITDA	319.9	426.7	513.2	526.8	652.8
EBITDA Margin %	7.75	8.79	9.20	8.83	9.57
Free Cash Flow (CFO − Capex)	321.2	264.5	356.3	278.7	278.7
Free Cash Flow to Equity	—	99.4	50.4	264.4	—
Free Cash Flow per Basic Share	7.35	6.06	8.16	6.38	6.38
Price to Free Cash Flow	—	—	—	—	44.64
Cash Flow to Net Income	2.24	1.52	1.52	1.49	—
Cash Paid for Taxes	48.8	83.3	107.7	107.6	—
Cash Paid for Interest	16.2	36.5	25.7	12.4	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave

Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.