V-Guard Q2 profit rises 4%, management sees demand revival post GST reforms

V-Guard Industries Ltd reported a 4% year-on-year rise in net profit at ₹65 crore for the July–September quarter, while revenue grew 3.6% to ₹1,341 crore.

EBITDA stood at ₹109 crore, down 1% from ₹110 crore in the same quarter last year, with margins moderating slightly to 8.2% from 8.5%.

For the first half of FY26, the company’s consolidated revenue stood at ₹2,807 crore, up 1.3% year-on-year, while profit after tax declined 14.3% to ₹139.1 crore.

Mithun K Chittilappilly, Managing Director of V-Guard

Industries, said the second quarter saw “modest growth across segments” amid headwinds including higher-than-average rainfall, weak consumer sentiment and GST transition-related disruptions.

“Gross margins improved further during the quarter. Reforms introduced as part of GST 2.0 are a welcome step towards simplifying the tax structure and boosting consumption. We expect the improvement in demand to start reflecting in the coming quarters,” he added.

As of 2:32 PM, shares of V-Guard Industries were trading 1% higher at ₹381.50 on the NSE after hitting an intraday high of ₹384.