V-Guard Industries net revenues increased by 28% in First Quarter of Financial Year 2013-14

BENGALURU, India - July 18, 2013 - PRLog -- Bangalore, India – July 18, 2013:

Consumer electrical and electronics company V-Guard, announced its results for the first quarter ended 30 June, 2013 of FY 13-14

Highlights

·         Net Revenues for the First Quarter, ending June 30, 2013-14 fiscal, were Rs. 408 crores; an increase of 28% over corresponding period of last financial year (Rs 319.00 crore)

·         Profit After Tax for the Quarter, ending June 30, 2013-14 fiscal, was Rs.17.64  crore; showing a decrease of 17% over corresponding period of last financial year (Rs.20.65 crore)

To increase the brand visibility, the Company has increased its advertisement spend considerably during the quarter under review. The advertisement spend was increased by almost 85% which lead to a reduction in margins.
Wires, pumps and inverters performed exceptionally well and contributed 55% to the total revenue.

Business Outlook

Commenting on the company’s performance, Mr.Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said “The company registered good growth during the first Quarter of FY13-14 in terms of revenue. The business outlook remains positive; we continue to see an enhanced demand for our categories of products, considering the festive season of Onam in Kerala.”

Key developments

The company obtained the Department of Scientific and Industrial Research (DSIR) recognition for its Research and Development (R&D) Center at Kochi, Kerala.

New product, Mixer grinder will be launched in the month of July, 2013.

About V-Guard Industries Ltd.

V-Guard Industries Limited is a Kochi based company, incepted in 1977 by Mr. Kochouseph Chittilapilly to manufacture and market Voltage stabilizers. What started in 1977 with two employees and a burning passion is now a force to reckon with in the Indian electric and electronic goods panorama. The company has since then established a strong brand name and aggressively diversified to become a multi-product company catering to the Light Electricals sector manufacturing Voltage stabilizers, Invertors & Digital UPS systems, Pumps, House wiring/LT cables, Electric water heaters, Fans, Solar water heaters and has also recently forayed into Induction cooktops and Switchgears.