V-Guard Industries Ltd., incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 11382.79 Crore) operating in Consumer Durables sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 859.13 Crore, up 2.20 % from last quarter Total Income of Rs 840.60 Crore and up 57.30 % from last year same quarter Total Income of Rs 546.17 Crore. Company reported net profit after tax of Rs 68.39 Crore in latest quarter.
Investment Rationale
The brokerage has cut FY22E EBITDA by 9% due to commodity inflation. A&P spends should return to 2.4% of revenues along with full revenue recovery as investments in brand and new product launches will continue. It maintains Hold with a TP of Rs 273 (40x on FY23E EPS).
Promoter/FII Holdings
Promoters held 57.2 per cent stake in the company , FIIs held 14.9 per cent, DIIs 13.9 per cent and public and others 14 per cent.
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