VGUARD

** Indian air-conditioner and fan manufacturers up between 2% and 7%

** Government to abolish the 28% goods and services tax slab, under which consumer durables such as air conditioners and refrigerators are currently taxed

** These goods are likely to be taxed at 18% under the proposed cuts, which could be implemented around the festival of Diwali in October

** Air-conditioner manufacturers Blue Star BLUS.NS and Voltas VOLT.NS up 6.88% and ~6%, respectively, on the day

** Wires and cables manufacturer Havells India HVEL.NS, which also sells air-conditioners and refrigerators under its Lloyd brand, up 5.2%

** V-Guard VGUA.NS and Crompton Greaves CROP.NS, which sell fans and coolers, up 3% and 2.5%, respectively

(Reporting by Ananta Agarwal in Bengaluru)

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April 21 (Reuters) - V Guard Industries Ltd VGUA.NS:

• RECEIVES DEMAND ORDER FROM COMMERCIAL TAX OFFICER FOR 5.5 MILLION RUPEES

Source text: ID:nBSE9kqjD9

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Feb 25 (Reuters) - UltraTech Cement ULTC.NS, India's top cement maker by capacity, will spend 18 billion rupees ($206 million) to start up a wires and cables business, deepening its foothold in the construction materials business, the company said on Tuesday.

The wires and cables business will be part of UltraTech's building products division, which includes waterproofing products, TMT steel bars, plywood, sanitary ware, hand tools as well as electrical components such as switchboards.

The investment, to be spread over two years, will involve UltraTech building a plant by December 2026 with the aim of capturing demand in a sector that, the Aditya Birla group company said, logged a compound annual growth rate of about 13% between fiscal 2019-2024.

This sector is dominated by companies such as Polycab POLC.NS and Havells HVEL.NS and one that is plagued by volatile prices of copper - a key raw material - and intense competition from smaller, cheaper local players.

Additionally, the infrastructure and construction industries, key clients of the wires and cables makers, will likely see a slowdown in 2025 due to a "modest" hike in capital spending announced in the annual budget, earlier this month.

Meanwhile, the cement industry has recently seen a slew of deals by industry leaders including UltraTech and Adani Group companies as they snap up smaller firms to deepen their presence in the industry.

($1 = 87.1700 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Savio D'Souza)

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Jan 28 (Reuters) - V Guard Industries Ltd VGUA.NS:

• Q3 CONSOL NET PROFIT 602.2 MILLION RUPEES; IBES PROFIT EST 712 MILLION RUPEES

• Q3 CONSOL REV FROM OPS 12.69 BLN RUPEES; IBES EST. 12.94 BLN RUPEES

• TO INVEST 1 BLN RUPEES FOR CAPACITY ADDITION

• CAPACITY ADDITION IN UNIT'S MANUFACTURING FACILITY TO BE SET UP IN HYDERABAD

Source text: [ID:]

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** India's small- and mid-cap firms in Jefferies' coverage universe post 36% EPS growth in June-qtr, with over 50% beating expectations

** Says top performers were electronics makers like Kaynes KAYN.NS, Amber Enterprises AMBE.NS and Dixon DIXO.NS

** Second-best were summer beneficiaries Voltas VOLT.NS, Blue Star BLUS.NS, Whirlpool of India WHIR.NS, Crompton Greaves CROP.NS, Havells HVEL.NS and V Guard VGUA.NS

** Third-best were capex and housing-linked firms like Polycab POLC.NS, Supreme Industries SUPI.NS, Pidilite PIDI.NS

** Says its top picks are V Guard, Supreme Industries, Amber Industries

** Has "buy" ratings on Voltas, Blue Star and Finolex Cables FNXC.NS

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of appliance maker V-Guard Industries VGUA.NS climb ~4% to 472.40 rupees

** VGUA reports Q1 profit, rev above estimates, driven by strong demand for summer products

** Stock was up around 2% earlier in the session, and jumped as much as 6.7% after results

** VGUA up ~62% YTD

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of V-Guard Industries VGUA.NS rose as much as ~7% to a record high of 404.55 rupees before shedding gains to last trade at 4.8% higher

** Reason for share move not immediately clear

** Stock, which is up for the second straight day, set for its steepest climb since March 14, if gains hold

** Stock sees busiest day in over 2 weeks, with more than 1.3 mln shares traded, 1.6x the 30-day avg

** Avg rating of 19 analysts covering the stock is "BUY;" their median PT is 395 rupees - LSEG

** Stock up ~35% so far this year, compared to a 33% and 25% surge in peers Havells India HVEL.NS and Polycab India POLC.NS

(Reporting by Aleef Jahan in Bengaluru)

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BENGALURU, May 16 (Reuters) - Indian electronic products manufacturer V-Guard Industries VGUA.NS reported a better-than-expected profit on Thursday, benefiting from higher demand in its electrical and consumer durables segment.

Kochi, Kerala-based V-Guard's consolidated net profit rose to 761.7 million rupees ($9.1 million) for the quarter ended March 31 from 527.2 million rupees a year earlier.

Analysts, on average, expected profit of 751.5 million rupees, according to LSEG data.

Cable and wire manufacturers have seen an uptick in demand, driven by growth in real estate and infrastructure sectors, with additional support from government spending aimed at boosting the economy.

Consumers also prepared for above-average summer temperatures, which propelled the sales of fans and air coolers, fuelling growth for appliance manufacturers such as V-Guard.

V-Guard's revenue rose by 17.9% to 13.43 billion rupees, driven primarily by the company's core electrical segment, which rose 10.7%.

The segment accounted for about 43.3% of total revenue during the quarter.

The company's second-largest segment, consumer durables, posted a 27.9% jump in the quarter, benefiting from a seasonally strong demand quarter.

The segment sells fans, air coolers and kitchen appliances.

Last month, rival Havells India HVEL.NS reported a higher quarterly profit on strong demand for room air conditioners and fans.

V-Guard shares settled up 2% after the results.

($1 = 83.4798 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Eileen Soreng)

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** Consumer demand for Indian electricals is soft ahead of summer, with no major pricing action seen yet, Jefferies says, citing channel checks

** Adds air conditioner (AC) stocking, which was delayed due to extended winter in north India, likely to gain traction by month-end on rising temperatures

** Forecast of above-average temperatures fuels expectations of "good upcoming summer" - note

** Says electronics-maker Amber Enterprises India AMBE.NS, "Lloyd"-branded AC seller Havells India HVEL.NS, fan maker Crompton Greaves CROP.NS and stabiliser seller V-Guard Industries VGUA.NS are key plays on a "good summer"

** Adds AC is 40% of AMBE's sales mix, Polycab India POLC.NS and Finolex Cables FNXC.NS have smaller exposures among cable makers

** Except HVEL, which is rated "hold", Jefferies recommends "buy" on all other stocks

** FNXC up 4.4%, HVEL, AMBE, CROP, VGUA and POLC down between 1%-2.7%

(Reporting by Hritam Mukherjee in Bengaluru)

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Feb 1 (Reuters) - V Guard Industries Ltd VGUA.NS:

• Q3 CONSOL NET PROFIT 582.4 MILLION RUPEES; LSEG IBES PROFIT EST. 555.1 MILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 11.65 BILLION RUPEES

• YEAR AGO Q3 CONSOL NET PROFIT 392.8 MILLION RUPEES, REVENUE 9.82 BILLION RUPEES

Source text for Eikon: ID:nBSEpvFFf

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BENGALURU, Oct 31 (Reuters) - India's V-Guard Industries VGUA.NS reported second-quarter profit on Tuesday in line with analyst estimates, as more Indians bought air conditioner stabilisers and inverters in a quarter that saw the country's driest monsoon in over a century.

The electronic products manufacturer maker said its consolidated net profit rose to 589.5 million rupees ($7.08 million) in the quarter ended Sept. 30 from 436.6 million rupees a year earlier.

Analysts, on an average, had expected a profit of 589.3 million rupees, according to LSEG data.

Consolidated revenue from operations rose 14.9% to 11.34 billion rupees. Monsoon rainfall this year was its lowest since 2018 due to the El Nino weather pattern, Reuters reported, resulting in a pick-up in demand for cooling products.

Copper prices were also stable, analysts said, and demand from the housing and infrastructure sectors remained healthy, with exports rebounding.

Revenue from the electricals segment, which accounted for nearly 41% of the company's revenue and includes products such as electric water heaters and fans, grew nearly 10%.

Revenue from electronics segment, which accounted for around 23% of total revenue and includes products such as stabilizers and inverters, grew 12.2%.

Shares of the company rose as much as 1.9% after results. It had climbed nearly 9% during the Sept. quarter.

($1 = 83.2426 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Janane Venkatraman)

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BENGALURU, Aug 9 (Reuters) - India's V-Guard Industries VGUA.NS reported a 20.2% surge in first-quarter profit on Wednesday, aided by strong demand for its electronics segment, sending its shares up nearly 11%.

Consolidated net profit for the electronic products manufacturer was at 642.2 million rupees ($7.75 million)for the quarter ended June 30, the Kochi-based company said in a filing.

Summer in India that spans from April to June boosts demands for air conditioners and inverters, benefiting companies like V-Guard.

Revenue from electronics segment, which accounts for nearly 30% of the company's revenue and includes products including inverters and air conditioner stabilizers, grew nearly 20%. It posted a pre-tax profit jump of 36.3%.

Its biggest segment electricals, which includes products such as house wiring cables, grew nearly 10%.

V-Guard's revenue from operations rose 19.3% to 12.15 billion rupees, while its gross margin increased to 32.5%, from 30.5% a year earlier due to softening commodity prices.

The company expected to post a revenue growth of 14% to 16%, excluding business from its recently acquired kitchen appliances-maker 'Sunflame' segment for fiscal 2024, it had said in the previous quarter's earnings call.

Last month, larger rival Havells HVEL.NS reported an 18.5% rise in June-quarter profit helped by strong demand for its cables and wires. However, analysts flagged margin concerns for the company.

($1 = 82.8125 Indian rupees)

(Reporting by Nishit Navin in Bengaluru; Editing by Rashmi Aich)

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** Brokerage JM Financial says electrical consumer durables to see recovery in growth on the back of higher disposable incomes and low food inflation

** India's macro environment continues to be stable, rural demand scenario shaping up well - JM Financial note

** Stable raw material prices should "alleviate margin pressure", premiumisation and operating leverage to help margins, note says

** Brokerage says tepid demand in appliances continued in Q1FY24, unseasonal rains in March/May impacted channel offtake

** We remain positive for medium to long-term, given macro tailwinds, low penetration for some of the categories and category expansion opportunities - JM Financial analysts

** Rating house maintains "buy" on Bajaj Electricals BJEL.NS, V-Guard Industries VGUA.NS, Havells HVEL.NS and Stove Kraft STOE.NS; "hold" on Crompton Greaves Consumer Electricals CROP.NS and TTK Prestige TTKL.NS

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Indian electrical products maker V-Guard Industries Ltd VGUA.NS slide as much as 3.14% to 242.90 rupees, sharpest intraday fall since Feb 22

** Co posted 41% slump in Q4 consol net profit to 527.3 million rupees ($6.37 million), revenue up 7.6%

** Co shares trading below 50-day and 100-day simple moving averages, indicating bearish momentum

** More than 522,008 shares changed hands by 3:11 P.M. IST, 4.9 times 30-day average of 106,774 shares

** Eleven out of 21 analysts rate the stock "buy" or higher, 7 suggest "hold" while 3 recommend "sell" or lower

** YTD stock had fallen ~4.9%

(Reporting by Hritam Mukherjee in Bengaluru)

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April 3 (Reuters) - V Guard Industries Ltd VGUA.NS:

• NCLT SANCTIONED SCHEME OF ARRANGEMENT BETWEEN SIMON ELECTRIC AND CO

Source text for Eikon: ID:nNSE4LnSkX

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