V Guard Industries : Unaudited Financial Results June Report

				STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR TIIE QUARTER ENDED 30.06.2021
																(fin lakhs)
																For the year ended
							For the three months ended
		SI.				30.06.2021			31.03.2021			30.06.2020		31.03.2021
							(Unaudited)		(Refer note 7
1		Revenue from operations						84.909.88			40.583.17		269,900.41
					56.072.30
				Other income			l10.92	113.25			44.52		291.42
				Total income		286.19		322.82			424.34		1.818.19
2			56,469.41		85,345.95			41,052.03		272,010.02
			17,644.60		30,493.09			4,936.71		87,292.11
					20,889.06		44,787.22			5,657.33		104,653.06
					(976.39)	(17,056.18)		18,131.69		(7,071.70)
									5,704.73			5,464.30		22,466.80
						5,761.27
						1,092.92		1,166.13			787.57		3,732.08
						148.99		234.32			108.16		559.72
				Total expenses		8,417.54		9,987.86			5,486.95		31,910.85
								75,317.17			40,572.71		243,542.92
						52,977.99
3		Profit before tax (1-2)			3,491.42		10,028.78			479.32		28,467.10
	4		Tax expenses:			1,279.89		3,007.08			315.68		8,630.62
						(251.34)	188.18			(198.62'	(61.76)
5		Profit for the period/year (3-4)		1,028.55		3,195.26			117.06		8,568.86
		2,462.87		6,833.52			362.26		19,898.24
6								45.27					45.27
										45.27					45.27
7				2,462.87		6,878.79			362.26		19,943.51
				(5+6))
8					4,301.88		4,301.88			4,282.88		4,301.88
9		(a) Basic (t)						1.59			0.08		4.64
				(b) Diluted (t)		0.57		1.58			0.08		4.61
					SEGMENT WISE REVENUE, RESULTS, ASSETS AND LIABILillES			(tin lakhs)
		SI.			30.06.2021			31.03.2021			30.06.2020		31.03.2021
		I
						15,896.95	24,276.76		13,768.23		75,887.51
							25,203.55	38.265.10		18,265.57	120,346.11
						14,971.80	22,368.02		8,549.37	73.666.79
							56,072.30	84,909.88		40,583.17	269,900.41
							56,072.30		84,909.88		40,583.17	269,900.41
		2
						2,071.29		5,307.04		933.32	14,416.24
						2,368.58		4,302.57		553.64	10,648.60
						(588.86)	890.48		(867.86)	4,025.62
							3,851.01	10,500.09		619.10	29,090.46
						148.99		234.32		108.16	559.72
						210.60		236.99		31.62	63.64
		3				3,491.42	10,028.78		479.32	28,467.10
							32,580.57		33,870.25		19,848.78	33.870.25
						41,153.00		49,249.27		29,917.55	49,249.27
				(d) Unallocated		55,436.24		50,408.99		33,737.16	50,408.99
					40,755.69		52,450.62		52,972.92	52,450.62
		4				169,925.50		185,979.13		136,476.41	185,979.13
						9,620.44		13,212.32		7,800.97	13,212.32
							10,179.61		20,927.71		9,196.55	20,927.71
				(d) Unallocated		13,852..91		17.257.44		9.682.65	17,257.44
						12,658.58		13,804.77		9,886.67	13,804.77
						46,311.54		65,202.24		36,566.84	65,202.24

V-GUARD INDUSTRIES LTD.

Regd. office 42/962, Vennala High School Road, Vennala, Kochi - 682 028. CIN:L31200KL1996PLC010010

• [phone], 200 5000 E [e-mail]
  W www.vguard.in

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V·GU/RD"-e

							(tin
			For the three months	ended		For the year ended
No		Particulars	30.06.2021	31.03.2021	30.06.2020
	(Unaudited)	(Refer note 7	(Unaudited)		(Audited)
			below)
		Income
		Revenue from operations
		Other income
		Finance income
		Total income	56,905.54	85,913.22	4I,265.49		274,I96.88
		Expenses
		Cost ofraw materials consumed
		Purchase of stock-in-trade
		(Increase)/ decrease in inventories of finished goods, work- in-progress
		Employee benefits expense (refer note 3 below)
		Depreciation and amortization exl)enses
		Finance costs
		Other expenses
		Total expenses	53,245.67	75,936.04			245,386.87
		Profit before tax (1-2)	3,659.87	9,977.18			28,810.01
4		Tax expenses:
		Current tax (including relating to prior years)
		Deferred tax expense/(credit)
		Profit for the period/year (3•4)	2,554.11	6,838.70	363.94		20,189.17
6		Other Comprehensive lncome/(Loss)
		Other comprehensive income /(loss) not to be reclassified to profit or
		loss in subsequent periods, net of tax
		Other Comprehensive Income/(Loss) for the period/year net of tax		46.48			46.48
		Total Comprehensive Income for the period/year (Comprising
		Profit for the period/year and Other Comprehensive Income/(Loss)			363.94		20,235.65
		for the period/year (5+6))	2,554.11	6,885.18
8 Profit for the year attributable to:
		Equity holders of the parent company
		Non Controlling interests
		Total Comprehensive Income for the year attributable to:
		Equity holders of the parent company
		Non Controlling interests	4,301.88	4,301.88	4,282.88		4,301.88
		Paid up equity share capital (Face value off 1/- each)
11 Earnings per equity share (EPS)
		{nominal value off 1/.eacb) (not annualised)

		For the three months ended	For the year ended
SL	Particulars		31.03.2021	30.06.2020
No	(Unaudited)	{Refer note 7	(Unaudited)	(Aud�ed)
		below)

• Segment Revenue
• 1. Electronics

(c) Consumer Durables
Total	56,518.14	85,519.51	272,123.99
Less : Inter SegmentRevenue
Revenue from operations	56,518.14
Segment Results
(a) Electronics			594.33
(c) Consumer Durables
Total	4,024.38		29,483.57
(Add)/Less: (i) Finance costs
(ii) Other un•allocable expensenet ofun-allocable
income
Profit Before Tax	3,659.87		28,810.01

Segment Assets

1. Electronics
2. Electricals

	(c) Consumer Durables				33,737.16
	Total segment assets
4	171,813.10	187,497.80
Segment Liabilities
	(a) Electronics
	(c) Consumer Durables
	Total sc2ment liabilities
			47,284.58			65,89B9

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V-GU/RD"{:

1. The above standalone and consolidated financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed under section 133 of Companies Act, 2013 read with relevant rules issued thereunder.
2. The above standalone and consolidated unaudited financial results for the quarter ended June 30, 2021 were reviewed by the Audit Committee at the meeting held on July 30, 2021 and approved by the Board of Directors and taken on record at the meeting held on July 30, 2021.
3. The Company had granted stock options under the Employees Stock Option Scheme, 2013 (ESOS 2013) to eligible employees of the Company. According to the scheme, the eligible employees were to be granted stock options subject to satisfaction of prescribed vesting conditions. The Company has been accruing the cost of these options over the vesting period. During the quarter ended June 30, 2021, management evaluated that the vesting condition for few of its options linked to the achievement of a certain threshold of profit before tax will not be satisfied and accordingly, the Company reversed the cost accrued over the years for such options amounting to Rs. 44.31 lakhs to the statement of profit and loss. The reversal of such costs to the statement of profit and loss for the year ended March 31, 2021 amounted to Rs. 259.54 lakhs.
4. Based on the "management approach" as defined in Ind-AS 108 - Operating Segments, the Chief Operating Decision Maker evaluates the Company's performance and allocates resources based on an analysis of various performance indicators by business segments and segment information is presented accordingly. Accordingly, the management has identified three business segments namely, Electronics, Electricals and Consumer Durables. Electronics includes Stabilizers, Digital UPS, UPS and Solar Inverters; Electricals includes PVC Insulated Cables, Switch Gears, Single Phase Pumps, Three Phase Pumps and Modular Switches; Consumer Durables includes Electric Water Heaters, Solar Water Heaters, Fans, Induction Cooktops, Mixer Grinders, Glasstop Gas Stoves, Rice Cookers, Air Coolers, Breakfast Appliances, Kitchen Hoods and Water Purifiers.
5. During the current quarter, the operations of the Company were impacted due to the regional lockdowns because of the second wave of COVID-19 pandemic. The Company has made an assessment of its liquidity position as at the date of approval of these financial results of the recoverability and carrying values of its assets including Property, Plant and Equipment (including assets under construction), Intangible assets, Trade receivables, Inventory and Investments as at the reporting date and has concluded that there are no material adjustments required in the standalone and consolidated financial results. Management believes that it has taken into account all the possible impact of known events and economic forecasts based on internal and external sources of information arising from COVID-19 pandemic while making such assessment in the preparation of the standalone and consolidated financial results. The Company will continue to closely monitor any material changes to future economic conditions.
6. The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.
7. The standalone and consolidated figures for the quarter ended March 31, 2021 are the balancing figures between audited figures in respect of the full financial year up to March 3I, 2021 and the unaudited published year-to-date figures up to December 31, 2020, being the date of the end of the third quarter of the financial year, whichwere subjected to limited review.
8. Figures for the previous periods have been regrouped and / or reclassified wherever necessary to conform with the current period presentation.

Place: Kochi

Date: 30.07.2021

S.R. BATL/80/ & ASSOCIATES LLP	"UB City" Canberra Block
	12th Floor
Chartered Accountants	No. 24, Vittal Mallya Road
	Bengaluru · 560 001, India
	Tel : +91 BO 6648 9000

Independent Auditor's Review Report on the Quarterly Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to

The Board of Directors

V-Guard Industries Limited

We have reviewed the accompanying statement of unaudited standalone financial results of V­ Guard Industries Limited (the --company'') for the quarter ended June 30, 2021 (the "Statemenf') attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the ·'Listing Regulations").

1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) '·Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
2. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the independent Auditor of the Entity'" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance Vith Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit op1111on.

4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act 2013 as amended. read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For S.R. BATLIBOI & ASSOCIATES LLP

Chartered Accountants

!CAI Firm registration number: IO I049W/E300004

���per Sandee; arnani ...:,.....J

Pa11ner

Membership No.: 061207

UDIN: 21061207AAAADJ4657 Bengaluru

July 30. 202 l

S.R. 8atlibo1 & Associates LLP. a Limited Liability Partnership wrth LLP ldenttty No AAB-4295

Regd. 011,ce 22, Camac Street. Block ·s· 3rd Floor, Kolkata 700 016

S.R. BATLIBOI & ASSOCIATES LLP	12th Floor
"UB City" Canberra Block
Chartered Accountants	No 24, V1ttal Mallya Road
	Benqaluru 560 001, India
	Tf'I t9 I 80 6648 9000

Independent Auditor's Review Report on the Quarterly Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to

The Board of Directors

V-Guard Industries Limited

1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results ofV­ Guard Industries Limited (the ··Holding Company") and its subsidiary (the Holding Company and its subsidiary together referred to as --the Group''), for the quarter ended June 30, 2021 (the ·'Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the --Listing Regulations'').

1. This Statement, which is the responsibility of the Holding Company·s Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) --interimFinancial Reporting·' prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
2. We conducted our review of the Statement in accordance with the Standard on Revie\ Engagements (SRE) 2410. --Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim tinancial information consists of making inquiries, primarily of persons responsible for financial and accounting matters. and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
   We also performed procedures in accordance with the Circular No. CIR/CFD/CMD1/44/2019 elated March 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

The Statement includes the results of the Holding Company and its subsidiary, Guts Electro-Mech Limited.

). Hased on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review report of other auditor referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement. prepared in accordance \ ith recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act. 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. has not disclosed the information required to be disclosed in terms of the Listing Regulations. including the manner in \ hich it is to be disclosed. or that it contains an) material misstatement.

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