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V-Guard Industries Limited (VGUARD) Fair Value & Analysis

Industrials · IN · Market cap ₹132B

VG V-Guard Industries Limited VGUARD · NSE
Price₹343.95
Fair Value₹148.23
Upside-56.9%
Quality59/100
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Healthy Growth
Thin margins · 5.2% net margin
Low debt · generates free cash flow
0.48% dividend yield
Mixed vs. peers (8/14)
Narrow moat 43/100
Evidence: High Range ₹88.24 – ₹185.29 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 4 days ago

Share price +14.6% over the past month.

A solid business, but screening 57% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹185.29). The favourable scenario is already priced in.
  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹88.24 to ₹185.29) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹522.13 ₹180.09 Fair Value ₹148.23 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹180.09 – ₹522.13 · fair‑value band ₹88.24 – ₹185.29 · the ₹343.95 price screens above the ₹148.23 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

V-Guard Industries Limited (VGUARD) currently trades at ₹343.95, while our model-based Fair Value estimate is ₹148.23, implying the stock looks roughly 56.9% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, V-Guard Industries Limited generated revenue of ₹59.7B at a net margin of 5.2%. Revenue grew 14.1% year over year. It earns a return on equity of 13.8%. Net debt stands at ₹1.1B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹88.24 (bear case) to ₹185.29 (bull case); at ₹343.95, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 16% below its 52-week high and 19% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -65% fair-value upside, at -57%, VGUARD screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹86.24 ₹172.52 ₹308.06 80
Residual Income ₹51.59 ₹64.16 ₹159.14 76
Rev-Margin DCF ₹89.60 ₹167.13 ₹274.87 74
All 26 models by family
DCF Models
FCF DCF ₹88.48 ₹164.21 ₹347.29 38
Owner Earnings ₹78.03 ₹156.35 ₹305.78 31
5Y Revenue Exit ₹89.60 ₹170.69 ₹286.54 39
5Y EBITDA Exit ₹105.56 ₹205.93 ₹339.10 41
5Y P/E Exit ₹101.32 ₹196.56 ₹312.28 38
10Y Revenue Exit ₹85.46 ₹164.73 ₹298.76 36
10Y EBITDA Exit ₹99.61 ₹191.60 ₹345.82 37
10Y P/E Exit ₹96.71 ₹184.45 ₹321.81 35
Earnings-Based
Graham-Dodd ₹48.00 ₹276.49 ₹384.57 54
Lynch FV ₹77.97 ₹111.39 ₹144.80 50
PEG = 1.0 ₹77.97 ₹111.39 ₹144.80 46
EPV ₹70.98 ₹82.58 ₹92.74 59
Dividend Discount
Gordon GGM ₹13.75 ₹28.60 ₹45.37 70
DDM Multi-Stage ₹13.75 ₹24.11 ₹30.01 61
Multiples
P/E Multiple ₹111.18 ₹148.23 ₹185.29 63
P/S Multiple ₹90.00 ₹120.00 ₹150.00 58
P/B Multiple ₹90.00 ₹120.00 ₹150.00 55
EV/EBIT ₹123.62 ₹164.38 ₹205.13 53
EV/EBITDA ₹118.94 ₹158.13 ₹197.32 54
EV/Revenue ₹88.62 ₹126.02 ₹163.42 43
Asset-Based
NCAV (Graham) ₹27.16 ₹36.40 ₹54.33 50
Growth DCF
Growth DCF ₹86.24 ₹172.52 ₹308.06 80
Rev-Margin DCF ₹89.60 ₹167.13 ₹274.87 74
Economic Profit
Residual Income ₹51.59 ₹64.16 ₹159.14 76
ROIC Compounder ₹80.98 ₹116.95 ₹154.19 72
Growth Earnings
Growth-Adj P/E ₹115.42 ₹164.89 ₹214.36 68

Widest divergence: DCF Models (₹170.69) versus Dividend Discount (₹24.11). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹59.7B
Revenue growth (YoY) +14.1%
Net margin 5.2%
Return on equity 13.8%
Free cash flow ₹2.7B FY2026
P/E ratio 49.1
More key figures
Operating margin 8.1%
EPS (TTM) ₹7.01
Dividend yield 0.5%
EPS growth (YoY) +23.1%
Net debt ₹1.1B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 60 · Market factors (momentum, volatility) 53

Profitability 63
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 43
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 61
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 35
Distance to the 52-week high (market factor)
Net Issuance 79
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

V-Guard Industries Limited manufactures and sells electrical and electronic products in India and internationally. It operates through four segments: Electronics, Electrical, Consumer Durables and Sunflame.

Full company description

V-Guard Industries Limited manufactures and sells electrical and electronic products in India and internationally. It operates through four segments: Electronics, Electrical, Consumer Durables and Sunflame. The Electronics segment offers voltage stabilizers; and inverter, digital DUPS, inverter batteries, UPS, solar inverters, solar power systems, off grid and on grid systems and inverters, and on grid photovoltaic (PV) inverters. The Electrical segment provides wires; pumps, such as domestic and agricultural pumps, and electric motors; modular switches, including matteo, novio, and torio switches; switchgears; and PVC insulated cables. The Consumer Durables Segment offers fans, such as ceiling, table, pedestal, wall, ventilating and exhaust, and other fans; air coolers, including desert, window-mounted, and personal and room variants; water heaters, such as electric, solar and heat pump water heaters; and kitchen appliances comprising induction cooktop, mixer grinders, gas cooktops, rice cookers, water purifiers, small and large appliances like kitchen hoods, and breakfast appliances. The Sunflame segment sells products under Sunflame and Superflame brands. It sells its products through a network of distributors and dealers. V-Guard Industries Limited was founded in 1977 and is based in Kochi, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

V-Guard Industries Limited reported revenue of ₹59.7B in FY2026 versus ₹35.0B in FY2022, a compound +14.3%/yr. Reported net income was ₹3.1B in FY2026, compounding +7.9%/yr from FY2022.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹59.7B
Latest YoY
+7.7%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.4%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+17.2%
Avg. growth/yr (21Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+19.9%
Revenue +14.3%/yr
FY22 ₹35.0B
FY23 ₹40.9B
FY24 ₹48.2B
FY25 ₹55.4B
FY26 ₹59.7B
Net income +7.9%/yr
FY22 ₹2.3B
FY23 ₹1.9B
FY24 ₹2.6B
FY25 ₹3.1B
FY26 ₹3.1B
Character of growth · EPS growth decomposed (2015-2026) +11.2 % p.a.
Revenue per share +12.1 pp

of which total revenue +12.5 pp · buybacks/dilution −0.4 pp

EBIT margin −1.6 pp
Tax rate +0.8 pp
Residual (interest, one-offs) −0.1 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

VGUARD screens 57% overvalued. Compare with Contemporary Amperex Technology Co →

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Cite: Fair Value Calculator (2026). "V-Guard Industries Limited Fair Value". https://www.fairvalue-calculator.com/stock/VGUARD

Peer Group

Electrical Equipment & Parts · 529 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 59 · Above median
Fair Value upside −57% · Below median
Return on equity (TTM) 14% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 5% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 14% · Above median
Dividend yield (TTM) 0.5% · Bottom 25%

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 49.1× · Pricier than median
P/B 5.58× · Pricier than 75% of peers
P/S (TTM) 2.22× · Pricier than median
P/FCF 0.5× · Cheaper than 75% of peers
EV/EBITDA 25.0× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 71 · sector 58
PAST 55 · sector 26
HEALTH 100 · sector 97
DIVIDEND 10 · sector 23

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$652.50 HK$394.19 -40%
Delta Electronics (Thailand) Public Company DELTA 269.00 THB 40.28 THB -85%
LG Energy Solution, Ltd 373220 365,500 KRW 201,455 KRW -45%
WEG S.A WEGE3 14,900 ARS 4,338 ARS -71%
Sungrow Power Supply Co 300274 ¥117.53 ¥123.83 +5%
HD Hyundai Electric Co 267260 782,000 KRW 371,133 KRW -53%
LS ELECTRIC Co 010120 206,500 KRW 29,594 KRW -86%
Hyosung Heavy Industries Corporation 298040 2,892,000 KRW 1,013,099 KRW -65%
Hitachi Energy India Limited POWERINDIA ₹35,800 ₹6,106 -83%
Polycab India Limited POLYCAB ₹9,289 ₹3,218 -65%

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Frequently asked questions

Is V-Guard Industries Limited (VGUARD) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹148.23 versus a price of ₹343.95, about −57% (overvalued).
What is the fair value of VGUARD?
Our model-based fair value for V-Guard Industries Limited is ₹148.23 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹343.95.
What is the quality score of VGUARD?
V-Guard Industries Limited has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of V-Guard Industries Limited (VGUARD)?
V-Guard Industries Limited reported trailing-twelve-month revenue of about ₹59.7B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of VGUARD?
The net profit margin of V-Guard Industries Limited is about 5.2%, meaning it keeps roughly 5.2% of revenue as net income. Based on the latest reported figures.
Does V-Guard Industries Limited pay a dividend?
V-Guard Industries Limited currently shows a dividend yield of about 0.48% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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