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PG Electroplast Q2 FY27 Share Price & Earnings Call Analysis

₹538.15+0.33% today
Market cap
₹15,433 Cr
P/E
74.99
ROE
6.70%
PEG
2.07
Price to sales
2.66
Debt to equity
0.20
52W high / low
₹631 / ₹441
Sales growth (5Y)
49.71%
EBITDA margin
7.11%
Net profit margin
3.72%
Promoter holding
43.20%
Sales (last year)
₹5,818 Cr

PG Electroplast Limited (PGEL) is the flagship company of PG Group. While the PG Group had started its journey in 1977, PG Electroplast was formally set up in 2003 and is a leading, diversified Indian Electronic Manufacturing Service provider. It specializes in Original Design Manufacturing (ODM), Original Equipment Manufacturing (OEM) and Plastic Injection Molding, catering to 50+ leading Indian and Global brands.[1]

Guidance scorecard · Q2 FY27 call

What PG Electroplast Ltd's management guided
and where it ranks in Consumer Durables

#22of 87 in
Consumer Durables
Revenue20–40%MarginsFlatCapexPlannedFundraisingNone plannedOrder bookWhat management said

RevenueQ1 FY27 call

20–40%
  • FY '27 and FY '28 expected strong growth trajectory due to new projects coming online: washing machine, compressor, refrigerator plants.
  • Volume growth target: ~20%+ for full year, possibly higher if industry grows above 15-20%.
  • Washing machine business growing rapidly (e.g., 67% growth in recent quarter), with capacity expansion aiming for 70-80% utilization by FY '28.
  • Compressor plant commissioning to increase market share and competitiveness; full utilization can quadruple initial capacity with faster future expansions.
  • Diversification reduces dependence on AC segment (currently 60-65% of sales) to 50-55% over next 2-3 years.
  • Anticipated volume growth supported by low base, price hikes, and competitive positioning.

2 more points from PG Electroplast Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what PG Electroplast Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • PG Electroplast Limited has planned a total capex of about INR 400 crores for the current year, focused on completing ongoing compressor and refrigerator projects.
  • Recently acquired a large land parcel in Salarpur to consolidate plastic moulding and other Greater Noida-based operations.
  • Next 1-2 years will focus on sweating existing assets rather than fresh large capex.
  • Potential addition of more compressor capacity after the first line ramp-up if performance is satisfactory.
  • Emphasis on backward integration, R&D, and building component-level manufacturing capabilities, notably compressors and controllers, to reduce import dependence.

2 more points from PG Electroplast Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

None planned

See what PG Electroplast Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • Order book mainly consists of forecasts from partner brands for outsourcing volumes of washing machines and ACs.
  • As of Q1 FY '27, there was no fresh order book for the AC segment due to the season ending.
  • New order book for ACs is expected to start building in September-October for the December season onwards.
Full Q1 FY27 analysis
Full Consumer Durables ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Consumer Durables
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does PG Electroplast Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Consumer Durables companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹166 Cr20.3
240%+Up 2%+₹100 Cr12.7
340%+Up 0–2%₹3,249 Cr17.4
440%+Up 0–2%₹2,081 Cr18.8
540%+Flat₹2,429 Cr41.1
640%+Flat₹2,163 Cr25.6

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Pro shows every company guiding 40%+ revenue growth →Full Consumer Durables ranking

Financials of PG Electroplast Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

PG Electroplast Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +53.59%53.70%53.56%53.42%49.37%49.37%43.72%43.60%43.41%43.41%43.37%43.20%
FIIs +10.77%11.02%11.07%10.69%10.29%10.45%13.02%11.45%10.59%9.75%9.95%8.72%
DIIs +12.36%10.94%9.89%9.80%16.22%16.37%18.09%18.83%22.66%24.49%23.88%26.58%
Public +23.27%24.33%25.22%25.91%24.11%23.80%25.11%26.10%23.06%22.35%22.71%21.38%
Others +0.01%0.00%0.26%0.19%0.00%0.00%0.06%0.00%0.27%0.01%0.09%0.12%
No. of Shareholders17,83720,67835,4921,03,5951,35,4211,58,6672,18,3842,55,3362,26,9442,23,4842,20,3682,08,164

Financials of PG Electroplast Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +4605321,0771,3216719681,9101,5046551,4121,7172,034934
Expenses +4234909601,1906158831,6981,3836251,2951,5981,886874
Operating Profit384211613156852121213011711914860
OPM %8%8%11%10%8%9%11%8%4.6%8%7%7%6%
Other Income +353447201815913914
Interest12101618152233341725263526
Depreciation11111415151619212222242728
Profit before tax182691101305418085779829520
Tax %30%26%21%16%35%25%19%21%59%24%22%20%30%
Net Profit +12197084194014567362657614
EPS in Rs0.480.742.673.210.741.405.132.360.102.172.272.670.48

Financials of PG Electroplast Ltd

Profit & Loss

Annual income statement trend

Mar 2011Mar 2012Mar 2013Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +4242223037031,0982,1602,7464,8705,2886,097
Expenses +3962192986531,0231,9832,4844,3854,9015,653
Operating Profit28355075177262484387444
OPM %7%1.2%1.6%7%7%8%10%10%7%7%
Other Income +347219412355445
Interest611111822485289102112
Depreciation259182235476688100
Profit before tax23-9-9154998176365252276
Tax %23%0%-43%23%24%21%22%20%23%
Net Profit +18-9-5123777135288197217
EPS in Rs-0.53-0.300.591.763.415.1810.176.897.59
Dividend Payout %0%0%0%0%0%0%4%2%4%

Financials of PG Electroplast Ltd

Balance Sheet

Capital structure and asset base

Mar 2011Mar 2012Mar 2013Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital11161620212326282929
Reserves351311261732913731,0122,8003,0203,119
Borrowings +687880185399577435384597799
Other Liabilities +4662652033585368371,9102,3031,588
Total Liabilities1602882885801,0691,5092,3105,1235,9485,535
Fixed Assets +621221232734415787831,1361,5401,782
CWIP1721226526576312364
Investments03026012681116
Other Assets +801151173016239271,4563,9024,0843,373
Total Assets1602882885801,0691,5092,3105,1235,9485,535

Financials of PG Electroplast Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2011Mar 2012Mar 2013Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +23-2357-7946188-7770
Cash from Investing Activity +-50-97-44-161-173-401-1,201-201
Cash from Financing Activity +22126-172571122341,32982
Net Cash Flow-56-416-152251-50
Free Cash Flow-27-9115-231-108-37-564-713
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit99%-813%113%-103%31%83%-2%37%

Financials of PG Electroplast Ltd

Ratios

Working capital efficiency and return ratios

Mar 2011Mar 2012Mar 2013Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days282943767174747382
Inventory Days164539611187390122134
Days Payable33676310111181107127147
Cash Conversion Cycle12718377867576869
Working Capital Days-15-6034-1079356056
ROCE %1%1%13%17%19%19%10%

Guidance history

How PG Electroplast Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%FlatPlannedNone planned—
Q4 FY26 call →10–20%FlatPlanned——
Q3 FY26 call →10–20%FlatPlanned—Rising
Q2 FY26 call →10–20%FlatPlanned—Rising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

25out of 100

Momentum score · price trend

25 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−6.3%53%
Last 6 months+0.8%54%
Last 3 months−12.2%34%

The price is 47% below its all-time high of ₹1,015.45 (3 Jan 2025). Stocks more than 20% below their peak have their score halved, so 50 became 25.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For PG Electroplast Ltd: 0.4 × 53 + 0.4 × 54 + 0.2 × 34 = 50, halved to 25 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What PG Electroplast Ltd's management said in earlier quarters

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