Buy V-Guard Industries, target price Rs 320: Sharekhan by BNP Paribas

Sharekhan by BNP Paribas has buy call on V-Guard Industries with a target price of Rs 320. The current market price of V-Guard Industries is Rs 242.65.

V-Guard Industries, incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 10476.96 Crore) operating in Consumer Durables sector.

V-Guard Industries key Products/Revenue Segments include Electricals, Consumer Durables, Electronics & Mechanical Components, Scrap, Other Operating Revenue and Sale of services for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 986.87 Crore, down -.26 % from last quarter Total Income of Rs 989.43 Crore and up 1.73 % from last year same quarter Total Income of Rs 970.07 Crore. Company has reported net profit after tax of Rs 39.29 Crore in latest quarter.

The company’s top management includes Mr.Kochouseph Chittilappilly, Mr.Cherian N Punnoose, Mr.Mithun K Chittilappilly, Mr.V Ramachandran, Prof.Biju Varkkey, Mr.George Muthoot Jacob, Mr.Ullas K Kamath, Mr.C J George, Ms.Radha Unni. Company has S R Batliboi & Associates LLP as its auditors. As on 31-12-2022, the company has a total of 43 Crore shares outstanding.

Investment Rationale
The brokerage has tweaked its FY2023-FY2025E estimates to build in higher sales and gradual margin recovery.

Promoter/FII Holdings
Promoters held 55.85 per cent stake in the company as of 31-Dec-2022, while FIIs owned 12.91 per cent, DIIs 18.94 per cent.