ICICI Direct's research report on V-Guard Industries
V-Guard is among India’s leading fast moving consumer electrical goods companies with market leadership position in the stabiliser business. The company has a wide portfolio of products ranging from switchgears, water heaters, stabilisers, fans and many more V-Guard has maintained strong return ratios with RoE and RoCE at ~18% and ~24%, respectively (three year’s average)
We maintain our BUY rating on the stock We value V-Guard at Rs 255 i.e. 35x P/E on FY24E EPS
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