Transcript of Earnings Conference Call.
PGEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
PG Electroplast reported a challenging Q4 FY26 with revenues of INR 1,717 crores (down 10.1% Y-o-Y), EBITDA of INR 131.5 crores (down 43%), and net profit of INR 64.2 crores (down 56%). The quarter was severely impacted by an LPG crisis causing INR 300 crores production loss, truck shortage costing INR 120 crores in sales, and INR 38.77 crores forex loss from 20% rupee depreciation. Full year FY26 revenues stood at INR 5,288 crores with PAT of INR 193.61 crores versus INR 290.92 crores in FY25. Management guided for FY27 EBITDA margins improving towards 8% with better than industry revenue growth, citing normalized channel inventory and new capacity coming online. New initiatives include a refrigerant facility (Q4 FY27) and compressor manufacturing (Q4 FY27) with anchor customer commitments already in place.
The stock faces near-term pressure from depressed Q4 profitability, but FY27 outlook appears improved with margin recovery expected as cost initiatives take effect and new facilities ramp up. Working capital stress should ease as inventory normalizes from INR 1,600 crores to below INR 900 crores by June end.