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Hot Pursuit News

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(06 Mar 2024, 16:08)

V-Guard arm starts commercial production of kitchen appliances

V-Guard Consumer Products (VCPL), wholly owned subsidiary (WOS) of the company commenced commercial production of kitchen appliances (mixer grinder & gas stove) at its manufacturing facility set up in Vapi, Gujarat on 6 March 2024.

The actual investment incurred for the project stood at 20 crore, which was funded through internal accruals.

The manufacturing facility has installed capacity of 7 lakh units per annum for mixer grinder and 3.60 lakh units per annum for gas stove.

V-Guard Industries makes consumer electrical and electronics products. The company's product range includes voltage stabilizers, inverter, electric & solar water heaters, fans, kitchen appliances, pumps, wires & cables, domestic switch gears, air coolers, etc.

The company's consolidated net profit jumped 48.3% to Rs 58.24 crore on18.6% rise in revenue from operations to Rs 1,165.39 crore in Q3 FY24 over Q3 FY23.

The scrip rose 0.38% to end at Rs 343.65 on the BSE.

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