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PG Electroplast Results: Latest Quarterly Results & Analysis

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PG Electroplast Ltd. 13 Nov 2025 17:19 PM
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Q2FY26 Quarterly Result Announced for PG Electroplast Ltd.

Consumer Electronics company PG Electroplast announced Q2FY26 results

  • Revenues stood at Rs 655.37 crore, down 2.4% YoY.
  • EBITDA stood at Rs 44.68 crore vs Rs 60.54 crore in Q2FY25 – down 26.2%.
  • Net Profit for the quarter stood at Rs 2.38 crore, vs Rs 19.47 crore in Q2FY25.

Vikas Gupta, Managing Director, said: “Sales performance in the first half of FY26 was impacted by subdued demand in the Room AC segment, resulting in a moderated growth. However, underlying demand indicators remain healthy, and the recent reduction in GST rates is expected to enhance product affordability and accelerate category penetration over the medium term. Given the structurally low penetration of Room ACs in India, we continue to see significant headroom for sustained growth.

Capital efficiency continues to be a key operating principle, with all capital allocation decisions guided by sustainable profitability and value-accretive metrics. While near-term growth momentum may moderate, the medium to long-term outlook remains positive. The Company is committed to building a resilient, high-performing organization that consistently delivers superior returns and long-term stakeholder value.

The Company remains steadfast in its focus on research and development, product innovation, capital-efficient expansion, and strengthening strategic client partnerships. Ongoing investments in new platform development and capacity augmentation across core product categories are progressing as planned.”

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Consumer Electronics company PG Electroplast announced Q1FY26 results

  • Revenues stood at Rs 1,503.85 crore, up 13.9% YoY.
  • EBITDA stood at Rs 139.42 crore vs Rs 134.54 crore in Q1FY25 growth of 3.6%.
  • Net Profit for the quarter stood at Rs 66.71 crore, vs Rs 84.93 crore in Q1FY25

Vishal Gupta, Managing Director Finance, said: “The early arrival of the monsoon impacted seasonal sales for Room ACs, making Q1 a more subdued start to the year. However, underlying demand indicators remain robust, and we see significant long-term potential given the relatively low penetration levels in core categories like Room ACs and Washing Machines.

We remain focused on product innovation, capital efficient expansion, and deepening client partnerships. Our investments in new platform development and capacity enhancements across core product lines are progressing as planned.

Capital efficiency remains a core operating principle and all capex decisions are guided by sustainable profitability metrics and long-term value creation.

While near-term growth may moderate, our medium and long-term outlook remains strong. We are committed to building a resilient, high performing organization that delivers industry leading capital efficiency and growth.”

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Consumer Electronics company PG Electroplast announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Operating Revenues for the quarter were Rs 1,909.9 crore, a growth of 77.4% YoY.
  • Quarterly EBITDA stood at Rs 231.7 crore versus Rs 119.8 crore in Q4FY24, a growth of 93.4%.
  • Quarterly Net profit stood at Rs 146.4 crore versus Rs 71.6 crore in Q4FY24, a growth of 104.5%.

FY25 Financial Highlights:

  • Operating Revenues were Rs 4,869.5 crore, growth of 77.3% YoY.
  • EBITDA for FY25 stood at Rs 519.2 crore vs Rs 274.8 crore, growth of 88.9%.
  • Net profit for FY25 stood at Rs 290.9 crore versus Rs 137.0 crore, growth of 112.3%.

Anurag Gupta, Chairman, said: “PGEL’s remarkable growth journey continues, driven by strategic expansion, operational efficiencies, and a strengthened balance sheet. With successful capacity enhancements and unprecedented scaling of its product business, the company is leveraging its size and partnerships to drive innovation, reduce costs, and elevate quality standards. As client expectations for faster turnarounds and greater customization continue to grow, scale has become a defining competitive advantage—enabling PGEL to optimize sourcing, streamline production, and deliver exceptional value.

This momentum is underpinned by our disciplined approach to efficient capital allocation, with a strong focus on enhancing asset turnover through sustained product business growth. This strategy has been the foundation of our success, fuelling industry-leading expansion while ensuring best-inclass return ratios. As we accelerate forward, we remain committed to achieving market leadership, leveraging our strengths to set new benchmarks in operational excellence and financial performance.”

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Consumer Electronics company PG Electroplast announced Q3FY25 results

  • Operating Revenues for the quarter were Rs 967.69 crore – a growth of 81.9% YoY.
  • Quarterly EBITDA stood at Rs 92.37 crore versus Rs 47.00 crore in Q3FY24 – a growth of 96.5%.
  • Quarterly Net profit stood at Rs 40.14 crore versus Rs 19.24 crore in Q3FY24 - a growth of 108.7%.

Anurag Gupta, Chairman, said: “The Product business is demonstrating impeccable execution, propelling the company forward with remarkable momentum. Growth leadership in focus area of RACs and washing machines, remains strong, and the company is actively investing in new capabilities to enhance its strategic edge. The Capability and Capacity matrix is expected to reach new highs due to ongoing innovations, new product developments, and the commissioning of additional capacity across various product categories. The company has established itself as a preferred partner for Room AC and washing machine solutions in India, serving major brands as its clients.

The successful completion of the fundraising in the previous quarter has bolstered the company's balance sheet, positioning it favorably within the sector to seize emerging opportunities. The management expresses confidence and dedication to achieving industry-leading growth alongside superior return ratios in the years ahead.”

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Consumer Electronics company PG Electroplast announced H1FY25 & Q2FY25 results

Q2FY25 Financial Highlights:

  • Operating Revenues for the quarter were Rs 671.30 crore – a growth of 45.8% YoY.
  • Quarterly EBITDA stood at Rs 60.54 crore versus Rs 40.86 crore in Q2FY25 – a growth of 48.2%.
  • Quarterly Net profit stood at Rs 19.47 crore versus Rs 12.39 crore in Q2FY25 - a growth of 57.2%.

H1FY25 Financial Highlights:

  • Net Sales for the period were Rs 1991.98 crore – growth of 75.0% YoY.
  • EBITDA stood at Rs 195.08 crore versus Rs 107.96 crore in H1FY25 – a growth of 80.7%.
  • Net Profits stood at Rs 104.40 crore versus Rs 46.19 crore in H1FY25 – growth of 126.0%.

Vishal Gupta, M.D. Finance, PG Electroplast, said: “Growth momentum in the Product division continues, and the company is seeing very strong traction with both existing and new clients, demonstrating growth leadership in key focus areas such as RACs and washing machines. Product innovations and investments in new platforms remain key priorities to drive growth prospects across product categories. The company aims to become a product leader while maintaining the most competitive cost structure in its focus areas.

Capacity additions and physical infrastructure expansion are on track, and with the new facilities, the company will be one of the largest manufacturers in the country for RACs and washing machines. The focus on improving asset turnover to enhance capital efficiency remains strong. Management is confident and committed to delivering industry-leading growth with best-in-class return ratios in the coming years.”

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Consumer Electronics company PG Electroplast announced Q1FY25 results:

Financial Highlights:

  • Operating Revenues for the quarter were Rs 1,320.68 crore – a growth of 94.9% YoY.
  • Quarterly EBITDA stood at Rs 134.52 crore versus Rs 67.10 crore in Q1FY24 – a growth of 100.5%.
  • Quarterly Net profit stood at Rs 84.93 crore versus Rs 33.81 crore in Q1FY24 - a growth of 151.2%.

Business Highlights:

  • Consolidated Revenues crossed Rs 1,320 crore with Product business sales crossing Rs 993 crore. PGEL’s 100% subsidiary, PG Technoplast clocked Rs 984.30 crore in revenue in Q1FY24.
  • The Product business contributed 75% of the total revenues in Q1FY25. The Product business grew 124% YoY for the quarter. The AC product business had 130% growth during the quarter.
  • The Washing machines business grew 72% and the Coolers business grew 287% during Q1FY25. The order book and visibility for all product businesses remain robust and the company is on track to scale the business significantly in FY2025.
  • TV & Electronics business in PG Electroplast contributed 7.6% of the total revenues and grew 104% in Q1FY25. The TV business has completely shifted to the new 50% JV Goodworth Electronics in Q1FY25. The Sales of Goodworth in Q1FY25 stood at Rs 75.46 crore and EBITDA was at Rs 0.62 crore.
  • Capital efficiency of business improved, and the company’s RoCE was 28% and RoE was 24% for the Trailing 12 months, ending June 2024. Net fixed Asset turns for the company stood at 4.97x.
  • The company plans to further invest in enhancing capacities in both RAC and washing machines for future growth.

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Consumer Electronics company PG Electroplast announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Operating Revenues for the quarter were Rs 1,076.6 crore – a growth of 30.0% YoY.
  • Quarterly EBITDA stood at Rs 119.8 crore versus Rs 76.9 crore in Q4FY23 – a growth of 55.8%.
  • Quarterly Net profit stood at Rs 71.59 crore versus Rs 40.17 crore in Q4FY23 - a growth of 78.2%.

FY24 Financial Highlights:

  • Revenues were Rs 2,746.5 crore – growth of 27.2% YoY.
  • EBITDA for FY2024 stood at Rs 274.8 crore vs Rs 180.4 crore– growth of 52.3%.
  • Net profit for FY2024 stood at Rs 137.0 crore versus Rs 77.5 crore –growth of 76.9%
  • Board of Directors have approved the stock split in the ratio of 1:10, implying that each Rs 10 paid up share will be subdivided into 10 shares of Rs 1 each.
  • Board of Directors have approved the final dividend of Rs 0.20 (20 paise) on each split share of Rs 1 face value.

Anurag Gupta, Chairman of the company said, “FY2024 has been another remarkable year in the growth journey of PGEL, Company has been able to strengthen its Balance sheet, successfully expanded its capacities in RAC business and formed new partnerships for Electronic and IT hardware business. All existing business lines have high visibility of strong growth rates, while several new promising opportunities are at the door step of the company.

Focus on efficient capital allocation, driven by improving Asset turns through product business growth has been the hallmark of our strategy and we aim to deliver Industry leading growth with best in class return ratios in coming years. We believe that our new initiatives along with focused product strategy will open new growth horizon for Company in near future.”

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Consumer Electronics company PG Electroplast announced Q3FY24 & 9MFY24 results:

Q3FY24 Financial Highlights:

  • Net sales amounted to Rs 5.30 billion, marking a growth of 15.8% YoY.
  • Quarterly EBITDA reached Rs 470 million, compared to Rs 381.7 million in Q3FY24, reflecting a growth of 23.1% YoY.
  • Quarterly net profits stood at Rs 192.3 million, up from Rs 137.4 million in Q3FY24, representing a growth of 40.0% YoY.

9MFY24 Financial Highlights:

  • Net sales for the period were Rs 16.65 billion, indicating a growth of 26.1% YoY.
  • EBITDA stood at Rs 1.55 billion, compared to Rs 1.04 billion in  9MFY24, reflecting a growth of 49.7%.
  • Net profits stood at Rs 654.2 million, compared to Rs 373.0 million in 9MFY23, showing a growth of 75.4%.

Commenting on the performance, Vishal Gupta, MD (Finance), stated, "PG’s 9MFY24 performance reflects its strategy and focus on capital allocation and growing organically. The company continues to strengthen its position in RAC, Washing Machines, and Consumer Electronics with industry-leading growth in its areas of focus.

We believe our Capacity and Capability matrix has further strengthened with the commissioning of the new AC facility in Bhiwadi, expanded capacities for AC in Supa, and the flagship Electronics Manufacturing facility in JV in Greater Noida.

The outlook for all business segments remains robust with increases in wallet shares in existing clients and good momentum in addition of new clients. We continue to execute the Product business strategy by expanding our R&D and Product development capabilities."

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Consumer Electronics company PG Electroplast announced Q1FY24 results:

  • Net sales for Q1FY24 was Rs 6.76 billion – a growth of 26.3% YoY.
  • Operating profit for Q1FY24 was Rs 642.0 million a growth of 84.3%
  • Quarterly EBITDA stood at Rs 671.0 million versus Rs 376.4 million in Q1FY23 - a growth of 78.3%.
  • Quarterly net profit stood at Rs 338.1 million versus Rs 164.0 million in Q1FY23 - a growth of 106.1%.

“PG’s Product business is gaining scale and is now the dominant contributor to the consolidated Sales. New product innovations and accelerating investment in newer platforms for differentiated offerings are boosting growth outlook across product segments. With 2 new facilities, one for RAC and one for TV, along with the expansion of the Supa facility, the company will be increasing its capacities significantly. With new partnerships, our positioning in consumer electronics and consumer durables is further strengthening.

The focus on capital efficiency has started bearing fruits for the company. On a trailing 12-month basis, the company has crossed 22% RoCE and 24% RoE, and the management remains confident and committed to delivering industry-leading growth with best-in-class return ratios in the coming years.” said Vishal Gupta, M.D. Finance.

 

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Consumer Electronics firm PG Electroplast announced Q4FY23 & FY23 results:

Q4FY23:

  • Net Sales for the quarter was Rs 8.269 billion – a growth of 65.4% YoY.
  • Operating profit for the quarter was Rs 744.2 million a growth of 105.0%
  • Quarterly EBITDA stood at Rs 769.0 million versus Rs 529.3 million in 4QFY2022 – a growth of 45.3%.
  • Quarterly Net profit stood at Rs 401.7 million versus Rs 276.3 million in 4QFY2022.

FY23:

  • Net Sales were Rs 21.478 billion – growth of 95.7% YoY.
  • Operating profit for the year was Rs 1.639 billion – growth of 115.6%
  • EBITDA for FY2023 stood at Rs 1.804 billion vs Rs 942.8 million– growth of 91.4%.
  • Net profit for FY2023 stood at Rs 774.7 million versus Rs 374.2 million – a growth of 107.0%.

“PG’s growth strategy is now bearing fruit and with over Rs 1,300 crores in Product business, company has firmly established itself as a credible contract manufacturer & ODM player in Room AC and Washing Machine industry. Growth outlook across current focus segments remains robust and with new initiatives, Company’s addressable market in Consumer Electronics and Consumer Durables will see multifold increase.

Focus on capital efficiency, driven by improving Asset turns through product business growth has been the hallmark of our strategy and we aim to deliver Industry leading growth with best in class return ratios in coming years. We believe that our new initiatives and planned capacities will open new growth horizon for Company in near future.” said Mr. Anurag Gupta, Chairman of the company.

 

 

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