PG Electroplast Limited has informed the Exchange about Transcript
PGEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
PG Electroplast reported a strong FY25 with operating revenue up 77% at Rs. 4,869 crore, EBITDA up 81% at Rs. 519 crore, and net profit up 112% at Rs. 291 crore. The product business grew 111% to Rs. 3,525 crore, driven by room ACs (+128%), washing machines (+43%), and air coolers (+80%). The company is now net cash with Rs. 980 crore on the balance sheet and declared a Rs. 0.25 final dividend. For FY26, management guided for group-level operating revenue of Rs. 7,200 crore (33% growth) and net profit of Rs. 405 crore (39% growth), with product business expected to grow 35%. CAPEX is pegged at Rs. 800–900 crore, including a new refrigerator plant in South India, compressor facility (Q4 FY26 commissioning), Greenfield units in Bhiwadi and Greater Noida for RAC and washing machines. Management guided for EBITDA margins to remain flat and refrained from giving margin expansion guidance, citing the contract manufacturing nature of the business. PLI incentives of Rs. 37.5 crore are factored into FY26 numbers. Asset turnover is targeted at 4–4.5x, with gross block expected to nearly double over the next two years.
Strong forward guidance of 30%+ revenue and profit growth, backed by a robust order pipeline across 35+ client brands, is positive for sentiment. However, the heavy Rs. 800–900 crore CAPEX with no revenue contribution from Greenfield plants until FY27, combined with flat margin guidance, may limit near-term return ratios. The net cash balance sheet and healthy internal accruals (Rs. 650 crore+ EBITDA expected in FY26) reduce funding risk.