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V-Guard Industries Ltd. Announces Board Meeting Outcomes and Key Decisions

Kochi, July 24, 2024 — V-Guard Industries Ltd. (CIN: L31200KL1996PLC010010) has announced the outcomes of its Board of Directors meeting held today. Key decisions and disclosures made during the meeting are as follows:

Key Decisions and Disclosures

Financial Results:

• The Board of Directors approved the Un-Audited Standalone and Consolidated Financial Results for the quarter ended June 30, 2024.
• The Un-Audited Financial Results along with the Limited Review Report issued by the Statutory Auditors are enclosed.

Issue and Allotment of Equity Shares pursuant to ESOS 2013:

• The Board issued and allotted 2,15,443 equity shares having a face value of ₹1 each to five employees who exercised stock options under the Employee Stock Option Scheme (ESOS 2013).
• Details:
  • Type of securities: Equity Shares
  • Type of Issue: Issuance pursuant to allotment under ESOS 2013
  • Total number of securities issued: 2,15,443

Retirement of Independent Directors:

• Mr. Cherian N Punnoose (Chairman and Independent Director, DIN: 00061030), Mr. C J George (Independent Director, DIN: 00003132), and Mr. Ullas K Kamath (Independent Director, DIN: 00506681) will retire from the Board effective July 28, 2024, upon completion of their second term.
• The Board expressed its appreciation for their valuable contributions.
• Due to their retirement, the composition of the Committees has been updated on the company’s website.

Appointment of Chairperson of the Board:

• Ms. Radha Unni (DIN: 03242769) has been appointed as the Chairperson of the Board effective July 29, 2024.
• A brief profile of Ms. Radha Unni is enclosed.

Appointment of Tax Auditor:

• M/s. Price Waterhouse Chartered Accountants LLP has been appointed as Tax Auditors for the Financial Year 2023-24.
• Brief details of the auditor are enclosed.

The Board meeting commenced at 11:00 AM and concluded at 1:55 PM.

The above information is also available on the company's website, www.vguard.in.

Contact Information:

• Registered Office: 42/962, Vennala High School Road, Vennala, Kochi – 682 028.
• Phone: +91 484 300 5000, 200 5000
• Email: mail@vguard.in
• Website: www.vguard.in
• CIN: L31200KL1996PLC010010

For further information:

• Company Secretary & Compliance Officer: Vikas Kumar Tak
• Membership No.: FCS 6618
• Email: info@vguard.in

Additional Details

1. Financial Results Overview

Standalone Financial Results (₹ in crores):

• Revenue from operations: ₹1,414.53 (Q1 FY25)
• Total income: ₹1,421.05 (Q1 FY25)
• Profit before tax: ₹110.26 (Q1 FY25)
• Profit after tax: ₹81.88 (Q1 FY25)

Consolidated Financial Results (₹ in crores):

• Revenue from operations: ₹1,477.10 (Q1 FY25)
• Total income: ₹1,484.01 (Q1 FY25)
• Profit before tax: ₹132.36 (Q1 FY25)
• Profit after tax: ₹98.97 (Q1 FY25)

2. Retirement of Independent Directors

• Mr. Cherian N Punnoose
• Mr. C J George
• Mr. Ullas K Kamath

3. Appointment of Chairperson

• Ms. Radha Unni: An Associate at the Indian Institute of Banking & Finance with extensive experience in the banking sector, including key roles at the State Bank of India.

4. Appointment of Tax Auditor

• M/s. Price Waterhouse Chartered Accountants LLP: A renowned firm established in 1991, specializing in auditing and assurance services.

Brief Profile of Ms. Radha Unni: Ms. Radha Unni brings over four decades of experience in the banking sector, predominantly in credit and project appraisal. She has held various positions at the State Bank of India, including a deputation to SBI Capital Markets. She retired as the Chief General Manager of the State Bank of India, Kerala Circle.

Brief Details of M/s. Price Waterhouse Chartered Accountants LLP: