V-Guard Industries Limited — Q2FY27 earnings call summary

Filed 06 November 2026 · Official transcript

Capex guidance for FY27 about INR 150 Cr
Management confident of sustaining growth and improving margins in H2 FY27 despite commodity volatility
Q2 FY27 consolidated revenue grew 38.2% YoY to INR 1,853 Cr; H1 revenue up 30.5% YoY to INR 3,664 Cr
Gross margin at 34.3% in Q2 vs 37.6% YoY; impacted by input costs and product mix
Consumer Durables segment revenue up 20% YoY; Sunflame up 20.5% YoY with integration progress
Volume growth ex-wires about 25% YoY; wires volumes flat
EBITDA grew 53.7% YoY to INR 168 Cr; margin improved to 9.1% from 8.1% YoY
Electronics segment revenue up 60% YoY; Solar Power Products and Inverter/Battery strong contributors