V-Guard Industries, incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 11279.80 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
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 30-09-2022, the company has a total of 43 Crore shares outstanding.
Investment Rationale
The brokerage believes V-Guard Industries’ (VGRD) decision to acquire 100% stake in Sunflame Enterprises Pvt (SEPL) is a synergistic fit at a reasonable valuation (1.9x FY22 sales and 20x FY22 PAT). It provides credible prospects to VGRD of becoming a meaningful player in the domestic kitchen appliances segment, especially the cooking range.
The brokerage's estimates indicate that this deal will be EPS accretive for VGRD by 5% each for FY24E/FY25E. It maintains buy rating on the stock with a target price of Rs 310 based on 40x H1FY25E EPS.
Promoter/FII Holdings
Promoters held 55.86 per cent stake in the company as of 30-Sep-2022, while FIIs owned 12.39 per cent, DIIs 18.06 per cent.
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