V-Guard hits a new high
By
Research Desk
about 9 years ago
V-Guard Industries breached the 20% upper circuit at Rs.1186.90, which was also its new 52-week high. It continues to trade around the 20% mark at Rs.1185 levels.
This euphoric buzz around the stock is thanks to its Q4FY16 numbers wherein the company reported a doubling of net profit – it was up from Rs.20 crore to Rs.42 crore (YoY) and this was on a 16% jump in net sales at Rs.510 crore.
It ended the fiscal FY16 with a net profit of Rs.112 crore v/s Rs.71 crore in FY15 while net sales rose from Rs.1730 crore to Rs.1850 crore.
The company gave a positive outlook for FY17, saying that it planned to launch mixer-grinders in Tamil Nadu and introduce gas stoves in Kerala during the current Q1.