ICICI Direct: V-Guard Delivers Strong Q2 Performance Amid Challenging Scenario
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ICICI Direct Report
V-Guard Industries Ltd. saw a sharp demand recovery in Q2 FY21 QoQ and managed to report revenues in line with base quarter of Q2 FY20.
The non-south regions (approximately 39% of topline) revenue increased 4% YoY led by strong demand recovery in the north and western markets.
However, southern region (approximately 61% of topline) witnessed a revenue decline of 3% YoY mainly due to intermittent lockdown in Kerala (approximately 22% of total topline).
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