V-Guard Q1 revenue falls as profit drops 25%

V-Guard Industries reported consolidated revenue of INR 1,466 crore for Q1 FY26, down 0.7% year-over-year. Profit after tax fell 25.4% to INR 74 crore from INR 99 crore in the same period last year.

EBITDA decreased 20.7% to INR 123.59 crore, with margins at 8.4%. However, gross margin expanded 20 basis points to 36.9%.

Non-South markets grew 2.1% while South markets declined 3.3%. The company is merging Sunflame operations and focusing on in-house manufacturing for synergy benefits.