The household appliances maker, V-Guard Industries had a weak performance in the fourth quarter of financial year 2022-23. Consolidated net profits have collapsed 41 percent year on year to Rs 53 crore. Revenues grew 8 percent to Rs 1,140 crore, while earnings before interest, tax, depreciation and amortisation (EBITDA) declined 12 percent to Rs 99 crore. The EBITDA margins have fallen to 8.6 percent versus 10.6 percent in the same quarter of last year.

Share Market Live

NSE

In the electronics segment, the revenues grew 10 percent to Rs 272 crore, while the electricals segment witnessed marginal revenues growth of 2 percent to Rs 525 crore. The consumer durables segment noted 3 percent decline to Rs 286 crore and turned loss making at an operating level, while Sunflame saw revenues of Rs 57 crore. Sunflame is engaged in the business of manufacturing and marketing of various kitchen and small domestic appliances.

Also read: Crompton Greaves Q4 numbers in line with estimates

The Board has recommended a final dividend of Rs 1.30 (130%) per equity share of Rs 1 each for the financial year 2022-23.

V-Guard Industries subsidiaries include V -Guard Consumer Products, Guts Electro-Mech and Sunflame Enterprises. The Company has completed the acquisition of 100 percent shareholding of Sunflame Enterprises on January 12, 2023 for Rs.680 crore (including deferred consideration of Rs 25 crore).

The stock is trading 3 percent lower on the exchanges post its results declaration on May 30.

Also read: Bajaj Electricals Q4: Healthy growth, Rs 500 crore fund raise, Rs 4 dividend declared

(Edited by : Vahishta Unwalla)