V-Guard Industries’ Growth Back on Track: ICICI Direct 
V-Guard Industries Ltd.’s range of product. (image Company website)

V-Guard Industries’ Growth Back on Track: ICICI Direct 


BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

V-Guard Industries Ltd.’s performance in Q3 FY21 was much ahead of our estimates mainly due to smart sales recovery followed by strong festive demand and market share gains from unorganised/regional players.

The company also saw channel re-filling of key products ahead of peak season.

According to the management, the company will continue to focus on expanding its distribution network in non-south regions (approximately 41% of revenue).

Revenue of non-south regions posted phenomenal growth of 43% YoY, better than ~25% YoY revenue growth from south regions.

Click on the attachment to read the full report:

ICICI Direct VGuard Ind Company Update.pdf


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