Dolat Capital: V-Guard Industries’ Q2 Better Than Estimated
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Dolat Capital Report
V-Guard Industries Ltd. saw flat sales at Rs 6.2 billion, while Ebitda was down 5% YoY at Rs 739 million with Ebitda margins were down 54 basis points YoY at 12%.
Profit after tax was down 13% at Rs 500 million.
Cash generated from operations was strong at in H1 FY21 at Rs 3.2 billion versus Rs 1.5 billion YoY, as working capital has improved significantly with cash conversion days at 53 as compared to 86 days in FY20.
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