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 ~17% and ~23%, respectively (three year’s average).
We maintain our HOLD rating on the stock. We value V-Guard at Rs 255 i.e. 38x P/E on FY24E EPS.
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