V-Guard Industries net profit up by 105%

The profit before tax for the current financial year is Rs 52.43 crore as compared to Rs 26.49 crore last year. 

The Board of Directors has also recommended a final dividedn of 25 per cent for FY07-08. The company, which is the largest manufacturer of voltage stabilisers in India, has reported a sales growth of 26.16 per cent during the year ended March 31, 2008, compared to the last financial year.

Besides stabilisers, the products in which company deals are insulated cables, pumps & motors, solar & electric water heaters, electric fans and UPS. 

Both the building cable unit at Uttaranchal and LT Power Cable Manufacturing unit at Coimbatore are expected to commence commercial production during the third quarter of the current financial year.

The other projects such as pilot prodcution centres for water heaters and fans at Himachal Pradesh, for pumps at Coimbatore and distribution centres at Bangalore, Hubli and Vijayawada are also expected to complete by that time.

V-Guard Industries had come out with an initial public offer (IPO) in February 2008, raising Rs 65.60 crore by issuing 80 lakh equity shares at Rs.72 a share to finance the ongoing expansion projects.