May 9, 2025 Good performance in FY 25 supported by Passenger Vehicles and Consumer Durables. After years of effort, Company has won business from Hero Motors. This will gradually ramp up providing solid support to the Company’s future. In FY 26, management expects 2W to support growth. PVs might be little muted. 2x the industry … Read more
February 1, 2024 V-Guard is a Kochi based company, founded in 1977 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. 27-28% of Company’s total revenues come from wire segment alone. Non-South markets contributed to 45.6% of total revenues in … Read more
July 9, 2024 Continued improvements across verticals. However, nothing extraordinary. Company has a small mcap of Rs 3,000 cr vs the potential in its focus areas. Don’t expect a sudden ramp up in any vertical. The growth would be gradual, however, ‘sustained’ over long periods. Look for major corrections to enter. February 10, 2024 Key … Read more
August 28, 2026 Demand is strong and much better than expected. Margins have taken a significant hit due to historically high key raw material prices. Given the nature of the business, management cannot simply pass on every raw material price increase to farmers. Government approval is required given the social implications. Industry, government and farmers … Read more
August 5, 2026 Continued strong performance despite headwinds from the war. Management continues to be bullish in the foreseeable future. Footwear business is turning around. Had to face higher raw material cost and higher labour costs (due to wage code) in the quarter but structurally is on the uptrend. Continued significant discussions with clients across … Read more
October 28, 2024 Okayish performance. For last 2 years, company has reported flattish EBITDA. This is testing investors patience. Strategy to focus on large customers + inorganic growth has not really yielded any dividends so far. Management believes that they are on the right path but doesn’t expect significant results in the short term. It … Read more
February 17, 2025 Muted Q3 performance as compared with the expectations set by the management in the previous quarter. Cost pressures and hence margins declined. Freight costs and raw material costs were the reasons. Again management has guided for a better Q4 performance. As against expected revenues of Rs 600 crore in FY 25 full … Read more
February 10, 2025 Muted quarter for the Company due to industry headwinds. Performance was below management’s own expectations. No structural issues as such and the under performance was driven mostly by external factors. January management saw a better overall environment. November 8, 2024 Okaish stable quarter. Company continues to grow gradually but surely on all … Read more
April 16, 2026 Below expected performance. Management attributes it primarily to external factors and continued higher competitive intensity. Management is confident of outperformance over the medium term. It’s clear not the chase growth at the cost of margins and expects competitive intensity would normalise over time especially with application of the IFRS standards from FY28. … Read more