VGUARD V-Guard Industries Q2 FY26 results (Jul–Sep 2025) and concall
V-Guard Industries reported a modest 3.6% YoY revenue growth to INR1,340 crores in Q2 FY26, impacted by headwinds like higher-than-average rainfall, weak demand, and GST transition. While gross margins improved by 140 bps to 37.6%, EBITDA marginally declined by 1% YoY, leading to a 40 bps contraction in EBITDA margin to 8.1%. PAT increased by 3% to INR65 crores, with management acknowledging a challenging year and revising down their annual growth expectations from 15%.
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What they filed
Q2 FY26: revenue up 3.5%, net profit up 26.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 |
|---|---|---|---|---|---|
| Revenue | 1,229 | 1,185 | 1,480 | 1,406 | 1,272 +3% |
| EBITDA | 91 | 83 | 121 | 94 | 85 −7% |
| Net profit | 52 | 48 | 78 | 56 | 66 +27% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
