ICICI Direct has given Hold recommendation for V-Guard Industries with a target price of Rs. 255 in its research report issued on May 23, 2022

ICICI Direct’s research report on V-Guard Industries

V-Guard is among India’s leading fast moving consumer electrical goods companies with market leadership position in the stabiliser business. The company has a wide portfolio of products ranging from switchgears, water heaters, stabilisers, fans and many more • V-Guard has maintained strong return ratios with RoE and RoCE at ~18% and ~24%, respectively (three year’s average).

Outlook

We change our rating on the stock from BUY to HOLD. We value V-Guard at Rs 255 i.e. 38x P/E on FY24E EPS.

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