# V-Guard Industries share price today (V-Guard Industries Ltd, NSE: VGUARD)

> V-Guard Industries share price today: ₹292.95 at the NSE close on 4 November 2026, down 18.8% in a year. V-Guard Industries (NSE: VGUARD) is worth ₹12,813 crore, trades at a P/E of 30.0 and has closed between ₹269.30 and ₹360.95 over the past 52 weeks. > V-Guard Industries Ltd's share price has fallen more than its earnings. Earnings per share fell 1.9% in a year while the price moved −18.8%. VGUARD · Capital Goods - Electric General · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/v-guard-industries-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹292.95 (−18.8% in a year)
- P/E: 30.0× (lower than 100% of the last 8.3 years)
- Revenue (Sep 2026): ₹1,853 Cr (+38.2% on a year ago)
- Profit (Sep 2026): ₹112 Cr (+72.3% on a year ago)
- Operating margin: 9.0% (+1.0 points on a year ago)
- ROCE: 18%, FY26
- ROIC: 18.2%, against a 12.0% cost of capital: +6.2 points

Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. ## What is the V-Guard Industries share price today? V-Guard Industries Ltd's share price was ₹292.95 at the close on 4 November 2026. It has been falling for 58 weeks. That is 7.9% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹269 and ₹361, and at that close it sat 26% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 3 weeks running. Over the last 11 years the share price moved +394% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 16 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at V-Guard Industries this quarter? Two changes stood out: revenue up on a year earlier for 5 quarters in a row and highest quarterly revenue in 16 quarters. 1. Revenue up on a year earlier for 5 quarters in a row In the September 2026 quarter revenue was ₹1,853 crore, +38.2% on a year earlier. Why: Revenue rose because the electricals business, the largest part of sales, grew strongly as wire prices jumped and pumps and switchgear sold more units. Next results: check whether sales volume grows by the mid teens in the second half on the higher first half base. From the earnings call on 30 Oct 2026. 2. Highest quarterly revenue in 16 quarters Revenue of ₹1,853 crore in the September 2026 quarter is the highest of the last 16 quarters. ## What are V-Guard Industries' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), V-Guard Industries reported revenue of ₹1,853 crore, up 38.2% from ₹1,341 crore a year earlier, and a profit of ₹112 crore, up 72.3% from ₹65.0 crore. ### V-Guard Industries results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,853 crore | ₹1,341 crore | +38.2% |
| Profit | ₹112 crore | ₹65.0 crore | +72.3% |
| Earnings per share | ₹2.56 | ₹1.50 | +70.7% |
| Operating margin | 9.0% | 8.0% | +1.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). V-Guard Industries' management discussed these results on a call held on 30 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the V-Guard Industries share price history? V-Guard Industries closed at ₹292.95 on 4 November 2026, down 18.8% from ₹360.95 a year earlier (7 November 2025) and up 11.8% over five years. Its highest weekly close since March 2016 was ₹524.15 on 16 August 2024. ### V-Guard Industries share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹280.20 | +4.6% |
| 1 month ago · 1 Oct 2026 | ₹294.55 | −0.5% |
| 6 months ago · 8 May 2026 | ₹331.40 | −11.6% |
| 1 year ago · 7 Nov 2025 | ₹360.95 | −18.8% |
| 3 years ago · 3 Nov 2023 | ₹296.00 | −1.0% |
| 5 years ago · 4 Nov 2021 | ₹262.00 | +11.8% |
| 10 years ago · 4 Nov 2016 | ₹140.57 | +108.4% |
| Earliest and lowest weekly close in our records · 11 Mar 2016 | ₹59.32 | +393.8% |
| Highest weekly close since March 2016 · 16 Aug 2024 | ₹524.15 | −44.1% |
| 52-week high (weekly close) · 7 Nov 2025 | ₹360.95 | −18.8% |
| 52-week low (weekly close) · 23 Oct 2026 | ₹269.30 | +8.8% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 4 November 2026.)

## What is the latest news on V-Guard Industries? 4 Nov 2026: V-Guard Industries closed at ₹292.95, up 4.6% on the week and down 0.5% on the month. 30 Oct 2026: V-Guard Industries held its results call for July to September 2026. Management guided: H2 volume growth mid-teens on higher H1 base with momentum to sustain on normal inventory. ### Earlier

- Results for July to September 2026: Revenue up 38.2% and profit up 72.3% on a year earlier. - 31 Jul 2026: ex-date for a dividend of ₹1.50 a share. ## What dividend does V-Guard Industries pay? V-Guard Industries paid ₹1.50 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.51% at the ₹292.95 close on 4 November 2026. The last was a dividend of ₹1.50 a share, ex-date 31 July 2026. ### V-Guard Industries dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 31 Jul 2026 | ₹1.50 | Dividend |
| 31 Jul 2025 | ₹1.50 | Dividend |
| 25 Jul 2024 | ₹1.40 | Dividend |
| 17 Aug 2023 | ₹1.30 | Dividend |
| 20 Jul 2022 | ₹1.30 | Dividend |
| 28 Jul 2021 | ₹1.20 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. V-Guard Industries Ltd paid out 21% of its profit as dividends in FY26, and it paid a dividend in each of its last 10 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did V-Guard Industries management say on the latest results call? On the call for July to September 2026, held on 30 October 2026, V-Guard Industries' management guided: H2 volume growth mid-teens on higher H1 base with momentum to sustain on normal inventory. > “Excluding wires, overall, all other categories put together, 10% is price growth and 25% is volume growth.”
> Ramachandran V, on the call for July to September 2026

### What management guided

- Full-year operating margin 9-10% on course with H1 near 9.6-10% and seasonal Q3 Q4 improvement. - Minimum 3-4% further pricing to close gap via Q3 hikes after 6-12% already taken. - Lighting full portfolio by April-May with meaningful revenue from Q1 next year. - Sunflame portfolio refresh over next 6-12 months to sustain stronger growth. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/4903-30-Oct-2026.pdf). (From the call for July to September 2026, 30 October 2026.)

## What to watch in V-Guard Industries' next results? When V-Guard Industries reports October to December 2026, these are the 2 checks that show whether the story is still on course. First: Pricing pass-through closure in Q3 against flagged gap - check gross margin recovery and hike execution. - What to check (from the call)
- Pricing pass-through closure in Q3 against flagged gap - check gross margin recovery and hike execution. - Lighting SKU expansion beyond test districts toward full portfolio goal - check district count and availability. ## Which stock lists is V-Guard Industries on? V-Guard Industries is not on any of our India lists this week. ## Is V-Guard Industries profitable? V-Guard Industries Ltd earned ₹112 Cr of net profit in the Sep 2026 quarter, +72.3% on the same quarter a year earlier. That is the 3rd quarter in a row of profit growth. Full-year FY26 profit was ₹308 Cr. Over 9 years profit has grown 8.7% a year on average. That is 6.0% of the quarter's revenue. The same quarter a year earlier earned ₹65.0 Cr. For the full year, FY26 profit was ₹308 Cr (−1.9% on the year before). Why profit moved: revenue changed +38.2% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +41.5% and revenue +21.6%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does V-Guard Industries make, and is it growing? V-Guard Industries Ltd reported ₹1,853 Cr of revenue in the Sep 2026 quarter, +38.2% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 9 years it has grown 12.4% a year on average. The last full year, FY26, came in at ₹5,966 Cr. The last four reported quarters add to ₹6,823 Cr. FY26 revenue was ₹5,966 Cr, +7.0% on the year before. Recent pace: the last four quarters grew +21.6% on average, against 12.4% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +21.5%, against +13.7% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +41.7%, against +17.8% a year (accelerating). ## How much of every ₹100 of sales does V-Guard Industries keep? V-Guard Industries Ltd's operating margin was 9.0% in the Sep 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Across 10 years it has been between 8.0% and 11.0%. The latest quarter is within that range. Why the margin moved: operating margin changed +0.9 percentage points on the year while gross margin changed −3.2 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is V-Guard Industries' profit turning into cash? Over the last 3 years, 151% of V-Guard Industries Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹459 Cr of operating cash against ₹308 Cr of profit. After ₹230 Cr of spending on assets, ₹229 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 151% of profit came in as cash: the cash cycle got 23 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 2.0× depreciation over three years. The next section checks what that spending is building. ## Where does V-Guard Industries' cash go? V-Guard Industries Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 60 days in FY26, down from 83 days in FY21. It spent ₹556 Cr on assets over the last 3 years. Customers take 33 days to pay, and stock sits for 98 days on average. At FY26 sales of ₹5,966 Cr, each day of that cycle ties up about ₹16.3 Cr, so roughly ₹981 Cr is tied up in the business at any time. FY26: customers took 33 days to pay and stock sat for 98 days, about 3.2 months of sales sitting as stock, for a full cycle of 60 days, shorter than FY21's 83. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 98 days. Customers pay about 33 days after that. Suppliers are paid at 71 days. Together that makes the 60-day cycle. Spending on assets: ₹556 Cr over the last 3 years, against ₹285 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹21.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is V-Guard Industries' P/E ratio, and how does it compare with its own history? V-Guard Industries Ltd's P/E is 30.0×, about the lowest it has ever been. Its usual P/E (the middle reading) is 53.1×, over 8.3 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹9.42. Why the multiple is where it is: over the past year earnings per share moved −1.9% while the price moved −18.8%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +2.3% a year; about +12.8% a year came from earnings growth and about −10.5 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the V-Guard Industries business getting better or worse? V-Guard Industries Ltd's business is giving mixed signals. There is no clear direction across the growth lines, with ROCE rising at 21.3%; each line tells part of the story. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## How much does V-Guard Industries earn on its capital? V-Guard Industries Ltd earned a ROCE of 18% in FY26. That is up from a low of 15% in FY23. Its return on capital used (ROIC) is 6.2 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 5.2% net margin and 1.61× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 5.2% net margin × 1.61× asset turnover × 1.56× leverage (assets divided by equity) ≈ 13.1% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 18.2% − 12.0% = +6.2 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. The 18.2% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 14.2%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does V-Guard Industries have too much debt? V-Guard Industries Ltd has total debt of ₹160 Cr against shareholder equity of ₹2,563 Cr as of Sep 2026, so its debt is 0.06× its equity, which is very little. Year by year, that ratio went from 0.05 in FY22 to 0.07 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the V-Guard Industries shareholding pattern? Domestic institutions raised their stake in V-Guard Industries Ltd by 1.7 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 21.6% of the company. Promoters moved −1.2 points over the same period, to 53.2%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +1.7 points over 8 quarters, to 21.6%; Promoters: −1.2 points over 8 quarters, to 53.2%; Foreign institutions: −0.8 points over 8 quarters, to 13.0%. Why the owners changed: domestic institutions drove it (+1.7 points), with the other side taken by promoters (−1.2 points). They raised their stake step by step. ## How far is V-Guard Industries from balance-sheet trouble? For V-Guard Industries Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does V-Guard Industries rank in its industry? 62.8 out of 100, rank 5 of 19 in Capital Goods - Electric General, with 100% of the evidence available. V-Guard Industries Ltd scores 62.8 out of 100 against the 19 companies it is compared with in Capital Goods - Electric General, ranking 5. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 24.7 + 16.1 + 14.7 + 7.3 = 62.8. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is V-Guard Industries compared with? V-Guard Industries ranks 5 of 19 Capital Goods - Electric General companies on the 4-Factor Sector Score, with 62.8 out of 100. 1. [Modison Ltd](https://www.sectoralpha.in/stocks/modison-ltd) MODISONLTD · leader · Most evidence points up · 100% evidence 78.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.1/35 · Revenue 84.9% · Profit 100% · Operating margin change -2 points · 100% evidence Capital efficiency 17.1/25 · ROCE 31% · Operating margin 11% · 100% evidence Valuation 15.1/20 · P/E 9.6× · PEG 0.46 · 100% evidence Relative strength 18.7/20 · Lead over its industry 47.3% · Lead over NIFTY 500 46.8% · 1 year 128.5% · 100% evidence · 12 of 12 weeks ahead Exact sum: 27.1 + 17.1 + 15.1 + 18.7 = 78 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Rishabh Instruments Ltd](https://www.sectoralpha.in/stocks/rishabh-instruments-ltd) RISHABH · leader · Most evidence points up · 96% evidence 68.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.8/35 · Revenue 5.8% · Profit 100% · Operating margin change 2 points · 88% evidence Capital efficiency 16.9/25 · ROCE 14.5% · Operating margin 17% · 100% evidence Valuation 10.8/20 · P/E 30× · PEG 1.24 · 100% evidence Relative strength 16.3/20 · Lead over its industry 22.8% · Lead over NIFTY 500 25.5% · 1 year 52.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.8 + 16.9 + 10.8 + 16.3 = 68.8 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Spectrum Electrical Industries Ltd](https://www.sectoralpha.in/stocks/spectrum-electrical-industries-ltd) SPECTRUM · leader · Most evidence points up · 89% evidence 68.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.3/35 · Revenue 40.8% · Profit 92.3% · Operating margin change 1 points · 88% evidence Capital efficiency 17.2/25 · ROCE 17.8% · Operating margin 15% · 100% evidence Valuation 6.7/20 · P/E 135× · PEG 1.9 · 65% evidence Relative strength 20.0/20 · Lead over its industry 119.7% · Lead over NIFTY 500 122.5% · 1 year 158.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.3 + 17.2 + 6.7 + 20 = 68.2 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 4. [Modern Insulators Ltd](https://www.sectoralpha.in/stocks/modern-insulators-ltd) MODINSULAT · turning · Most evidence points up · 78% evidence 68.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.5/35 · Revenue 41.6% · Profit 100% · Operating margin change 8 points · 83% evidence Capital efficiency 18.3/25 · ROCE 19.3% · Operating margin 17% · 76% evidence Valuation 7.7/20 · P/E 22.4× · PEG n/a · 50% evidence Relative strength 12.6/20 · Lead over its industry 35.3% · Lead over NIFTY 500 36.4% · 1 year 195.4% · 100% evidence · 4 of 12 weeks ahead Exact sum: 29.5 + 18.3 + 7.7 + 12.6 = 68.1 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 5. V-Guard Industries Ltd this page VGUARD · quiet · Evidence leans up · 100% evidence 62.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.7/35 · Revenue 21.5% · Profit 41.7% · Operating margin change 1 points · 100% evidence Capital efficiency 16.1/25 · ROCE 18.4% · Operating margin 9% · 100% evidence Valuation 14.7/20 · P/E 28.7× · PEG 1.12 · 100% evidence Relative strength 7.3/20 · Lead over its industry -12.4% · Lead over NIFTY 500 -7.7% · 1 year -22.7% · 100% evidence · 5 of 12 weeks ahead Exact sum: 24.7 + 16.1 + 14.7 + 7.3 = 62.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Insolation Energy Ltd](https://www.sectoralpha.in/stocks/insolation-energy-ltd) INA · quiet · Evidence leans up · 81% evidence 59.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.3/35 · Revenue 81.7% · Profit 45.2% · Operating margin change -6 points · 88% evidence Capital efficiency 16.5/25 · ROCE 22.4% · Operating margin 10% · 100% evidence Valuation 19.5/20 · P/E 7.8× · PEG 0.23 · 100% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -36.5% · 1 year -61.5% · 25% evidence · 0 of 12 weeks ahead Exact sum: 16.3 + 16.5 + 19.5 + 7.5 = 59.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Alpex Solar Ltd](https://www.sectoralpha.in/stocks/alpex-solar-ltd) ALPEXSOLAR · quiet · Evidence leans up · 64% evidence 57.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.7/35 · Revenue 100% · Profit 61.3% · Operating margin change -1 points · 88% evidence Capital efficiency 19.7/25 · ROCE 44.8% · Operating margin 15% · 100% evidence Valuation 11.3/20 · P/E 8.4× · PEG n/a · 15% evidence Relative strength 7.9/20 · Lead over its industry n/a · Lead over NIFTY 500 -21.8% · 1 year -45% · 25% evidence · 1 of 12 weeks ahead Exact sum: 18.7 + 19.7 + 11.3 + 7.9 = 57.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Ravindra Energy Ltd](https://www.sectoralpha.in/stocks/ravindra-energy-ltd) RELTD · quiet · Evidence leans up · 79% evidence 54.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.3/35 · Revenue 28.2% · Profit 53% · Operating margin change 14.6 points · 88% evidence Capital efficiency 15.3/25 · ROCE 14.4% · Operating margin 31.8% · 100% evidence Valuation 9.4/20 · P/E 44.7× · PEG n/a · 15% evidence Relative strength 4.1/20 · Lead over its industry -8.7% · Lead over NIFTY 500 -4.4% · 1 year -16.4% · 100% evidence · 5 of 12 weeks ahead Exact sum: 25.3 + 15.3 + 9.4 + 4.1 = 54.1 · What this means: Earnings are strong; relative strength in its sector is -8.7% and the one-year return is -16.4%. 9. [IKIO Technologies Ltd](https://www.sectoralpha.in/stocks/ikio-technologies-ltd) IKIO · quiet · Evidence leans up · 78% evidence 53.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.2/35 · Revenue 34.5% · Profit 100% · Operating margin change 4 points · 83% evidence Capital efficiency 9.5/25 · ROCE 9.5% · Operating margin 13% · 76% evidence Valuation 13.1/20 · P/E 26.8× · PEG n/a · 50% evidence Relative strength 5.5/20 · Lead over its industry -5.4% · Lead over NIFTY 500 -1.9% · 1 year -22.8% · 100% evidence · 7 of 12 weeks ahead Exact sum: 25.2 + 9.5 + 13.1 + 5.5 = 53.3 · What this means: Earnings are strong; relative strength in its sector is -5.4% and the one-year return is -22.8%. 10. [Siemens Ltd](https://www.sectoralpha.in/stocks/siemens-ltd) SIEMENS · losing its lead · Evidence leans up · 78% evidence 50.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.3/35 · Revenue 13.2% · Profit 33.7% · Operating margin change -4 points · 83% evidence Capital efficiency 17.2/25 · ROCE 21.4% · Operating margin 9% · 76% evidence Valuation 5.5/20 · P/E 78.2× · PEG n/a · 50% evidence Relative strength 8.8/20 · Lead over its industry -4.2% · Lead over NIFTY 500 -0.3% · 1 year 6.7% · 100% evidence · 7 of 12 weeks ahead Exact sum: 19.3 + 17.2 + 5.5 + 8.8 = 50.8 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 11. [Swelect Energy Systems Ltd](https://www.sectoralpha.in/stocks/swelect-energy-systems-ltd) SWELECTES · turning · Evidence leans down · 89% evidence 48.9 out of 100 Growth Capital Valuation Relative
12. [HPL Electric & Power Ltd](https://www.sectoralpha.in/stocks/hpl-electric-power-ltd) HPL · quiet · Evidence leans down · 81% evidence 48.3 out of 100 Growth Capital Valuation Relative
13. [Kirloskar Electric Company Ltd](https://www.sectoralpha.in/stocks/kirloskar-electric-company-ltd) KECL · quiet · Evidence leans down · 79% evidence 43.3 out of 100 Growth Capital Valuation Relative
14. [Salzer Electronics Ltd](https://www.sectoralpha.in/stocks/salzer-electronics-ltd) SALZERELEC · quiet · Evidence leans down · 81% evidence 41.4 out of 100 Growth Capital Valuation Relative
15. [Servotech Renewable Power System Ltd](https://www.sectoralpha.in/stocks/servotech-renewable-power-system-ltd) SERVOTECH · basing · Evidence leans down · 78% evidence 39.7 out of 100 Growth Capital Valuation Relative
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17. [Exicom Tele-Systems Ltd](https://www.sectoralpha.in/stocks/exicom-tele-systems-ltd) EXICOM · quiet · Evidence leans down · 68% evidence 38.9 out of 100 Growth Capital Valuation Relative
18. [Focus Lighting & Fixtures Ltd](https://www.sectoralpha.in/stocks/focus-lighting-fixtures-ltd) FOCUS · Most evidence points down · 69% evidence 24.4 out of 100 Growth Capital Valuation Relative
19. [Igarashi Motors India Ltd](https://www.sectoralpha.in/stocks/igarashi-motors-india-ltd) IGARASHI · quiet · Most evidence points down · 89% evidence 23.4 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Capital Goods - Electric General](https://www.sectoralpha.in/sectors/capital-goods-electric-general), all 19 compared on one page. ## Which companies are close to V-Guard Industries in size? V-Guard Industries is the 2nd largest of 19 Capital Goods - Electric General companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Siemens. Just below it: Spectrum Electrical Industries, Ravindra Energy, Rishabh Instruments, Honda India Power Products and Exicom Tele-Systems. ### Capital Goods - Electric General companies close in size

1. [Siemens Ltd](https://www.sectoralpha.in/stocks/siemens-ltd) ₹1,17,627 crore
2. V-Guard Industries Ltd ₹12,247 crore
3. [Spectrum Electrical Industries Ltd](https://www.sectoralpha.in/stocks/spectrum-electrical-industries-ltd) ₹6,757 crore
4. [Ravindra Energy Ltd](https://www.sectoralpha.in/stocks/ravindra-energy-ltd) ₹2,671 crore
5. [Rishabh Instruments Ltd](https://www.sectoralpha.in/stocks/rishabh-instruments-ltd) ₹2,424 crore
6. [Honda India Power Products Ltd](https://www.sectoralpha.in/stocks/honda-india-power-products-ltd) ₹1,777 crore
7. [Exicom Tele-Systems Ltd](https://www.sectoralpha.in/stocks/exicom-tele-systems-ltd) ₹1,740 crore

[All 19 Capital Goods - Electric General companies, largest first](https://www.sectoralpha.in/sectors/capital-goods-electric-general#all-companies)

### Companies close in size in other industries

1. [Rainbow Childrens Medicare Ltd](https://www.sectoralpha.in/stocks/rainbow-childrens-medicare-ltd) ₹12,378 crore · Hospitals
2. [Crompton Greaves Consumer Electricals Ltd](https://www.sectoralpha.in/stocks/crompton-greaves-consumer-electricals-ltd) ₹12,334 crore · Consumer Electronics
3. V-Guard Industries Ltd ₹12,247 crore
4. [Atlanta Electricals Ltd](https://www.sectoralpha.in/stocks/atlanta-electricals-ltd) ₹12,220 crore · Electric Equipment - Transformers
5. [Zensar Technologies Ltd](https://www.sectoralpha.in/stocks/zensar-technologies-ltd) ₹12,196 crore · IT - Software

## What else do people ask about V-Guard Industries? ### What is V-Guard Industries's share price today? V-Guard Industries Ltd's share price is ₹292.95, −18.8% over the past year. The whole company is worth ₹12,813 Cr on the market. In the last 52 weeks it traded between ₹269 to ₹361; today it is 26% of the way up from the low, 7.9% below its 200-day average (as of 4 November 2026). ### What were V-Guard Industries's latest quarterly results? V-Guard Industries Ltd reported revenue of ₹1,853 Cr and net profit of ₹112 Cr for the Sep 2026 quarter. Revenue rose 38.2% and profit rose 72.3% compared with a year earlier. Earnings per share were ₹2.56. The operating margin was 9.0%, 1.0 percentage points higher than a year earlier (as of 4 November 2026). ### What is V-Guard Industries's market cap? V-Guard Industries Ltd's market capitalisation is ₹12,813 Cr at a share price of ₹292.95. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is V-Guard Industries performing? V-Guard Industries Ltd's share price has been falling for 58 weeks. In its latest quarter, revenue rose 38.2% and profit rose 72.3% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 3 weeks running (as of 4 November 2026). ### Will V-Guard Industries's share price go up? This page does not forecast V-Guard Industries Ltd's share price. What it shows instead: the share price is ₹292.95, and it has been falling for 58 weeks. Its P/E of 30.0× is higher than 0% of its own last 8 years (as of 4 November 2026). ### Who owns V-Guard Industries? Promoters own 53.2% of V-Guard Industries Ltd, foreign institutions 13.0%, domestic institutions 21.6% and the public 12.1% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 1.7 percentage points over 8 quarters (as of 4 November 2026). ### Does V-Guard Industries have too much debt? No, V-Guard Industries Ltd has little debt: its debt is 0.07× its equity, and its operating profit is 44 times its interest bill. FY26 borrowings were ₹165 Cr against equity of ₹2,373 Cr. So the returns on this page come from the business, not borrowed money (as of 4 November 2026). ### Where is V-Guard Industries in its business cycle? V-Guard Industries Ltd's FY26 operating margin was 9.0%, against a 10-year range of 8.0% to 11.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 9.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the V-Guard Industries story? Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is V-Guard Industries a stock worth studying right now? What the numbers show: V-Guard Industries Ltd's share price has fallen more than its earnings. Earnings per share fell 1.9% in a year while the price moved −18.8%. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a V-Guard Industries share price forecast for 2026? What management itself guided: H2 volume growth mid-teens on higher H1 base with momentum to sustain on normal inventory. This is research, not advice. We’re not SEBI-registered.