INTEGRATED FINANCIALS FOR THE YEAR ENDED MARCH 2025
PGEL · price
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PG Electroplast reported its audited FY25 results with standalone revenue of Rs 1,486.76 crores (up ~3% from Rs 1,440.91 crores in FY24) and standalone profit after tax of Rs 84.71 crores (up ~8.5% from Rs 78.05 crores). On a consolidated basis, revenue surged to Rs 4,869.53 crores from Rs 2,146.20 crores, with PAT attributable to owners rising sharply to Rs 281.80 crores from Rs 131.90 crores, driven by the inclusion of subsidiaries. The Board recommended a final dividend of Rs 0.25 per share and noted the December 2024 QIB issue that raised Rs 1,477.56 crores at Rs 699 per share. The company invested Rs 730 crores into its subsidiary PG Technoplast and Rs 5.75 crores into joint venture Goodworth Electronics during the year. Auditor S S Kothari Mehta & Co. LLP issued an unqualified opinion on both standalone and consolidated results.
Strong consolidated growth reflects successful scale-up of subsidiaries, but operating cash flow turned sharply negative on a consolidated basis (Rs -76.59 crores vs Rs +188.46 crores prior year), which is a concern despite healthy PAT. The massive equity raise and aggressive subsidiary investment signal a growth-mode company, which is positive long-term but warrants monitoring of cash conversion.