PG Electroplast Ltd

Revenue from operations surged 81.9% to Rs 967.69 crore in the quarter ended 31 December 2024. Profit before tax was at Rs 53.57 crore in the third quarter of FY25, down 106.1% from Rs 25.99 crore posted in the same period a year ago. The company's EBITDA stood at Rs 92.37 crore in Q3 FY25, compared to Rs 47 crore in Q3 FY2024, reflecting a growth of 96.5%. Total expenses spiked 80.3% to Rs 921.32 crore in Q3 FY25 over Q3 FY24. The cost of material consumed stood at Rs 914.72 crore (up 101.4% YoY), employee benefit expenses stood at Rs 66.65 crore (up 68.8% YoY), and finance cost was at Rs 22.40 crore (up 130.2% YoY). On the outlook front, management sees increased opportunities with both existing and new clients, driven by the current business environment. With new capacities and capabilities, the company is uniquely positioned in the consumer durables and plastics space in India. In the coming years, the company aspires to achieve industry-leading growth in revenues, gradual improvement in margins due to operational efficiencies and operating leverage, and best-in-class capital efficiency resulting from improved cash flows and balance sheet optimization. On the guidance front, PGEL's revenue guidance has been revised upwards to Rs 4,550 crore, registering a growth of 65.7% over FY2024 consolidated revenues (despite the shift of the TV business to Goodworth Electronics). The net profit guidance has also been revised upwards and now stands at Rs 280 crore, representing a growth of 104.5% over FY2024's net profit of Rs 137 crore. The revenue guidance for Goodworth Electronics is Rs 550 crore in FY25, implying group revenues of Rs 5,100 crore. The growth in the product business, including washing machines, room air conditioners, and air coolers, is expected to be around 98% to Rs 3,300 crore, up from Rs 1,668 crore in FY24. The Capex guidance for FY25 stands at Rs 370-380 crore and the company is commissioning two new greenfield facilities in North India, along with further expansion of the Supa facilities. Anurag Gupta, chairman of PG Electroplast, said, 'The product business is demonstrating impeccable execution, propelling the company forward with remarkable momentum. Growth leadership in the 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.' PG Electroplast manufactures printed circuit board assemblies, plastic injection moldings for major consumer durables, specialized AC components, home electricals, and kitchen appliances. The company caters to industries such as automotive components, consumer electronics mobile handsets, and sanitary ware. Powered by Capital Market - Live

Net profit of PG Electroplast rose 106.15% to Rs 39.54 crore in the quarter ended December 2024 as against Rs 19.18 crore during the previous quarter ended December 2023. Sales rose 81.94% to Rs 967.69 crore in the quarter ended December 2024 as against Rs 531.88 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales967.69531.88 82 OPM %8.807.89 - PBDT69.9637.27 88 PBT53.5725.99 106 NP39.5419.18 106 Powered by Capital Market - Live

PG Electroplast will hold a meeting of the Board of Directors of the Company on 6 February 2025.Powered by Capital Market - Live

Star Cement Ltd, CRISIL Ltd, HEG Ltd and K P R Mill Ltd are among the other gainers in the BSE's 'A' group today, 13 December 2024.PG Electroplast Ltd spiked 5.02% to Rs 899.9 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 1.71 lakh shares were traded on the counter so far as against the average daily volumes of 1.15 lakh shares in the past one month. Star Cement Ltd soared 4.41% to Rs 229.45. The stock was the second biggest gainer in 'A' group. On the BSE, 1.61 lakh shares were traded on the counter so far as against the average daily volumes of 1.05 lakh shares in the past one month. CRISIL Ltd surged 3.98% to Rs 5745.35. The stock was the third biggest gainer in 'A' group. On the BSE, 4501 shares were traded on the counter so far as against the average daily volumes of 2951 shares in the past one month. HEG Ltd advanced 3.51% to Rs 566.5. The stock was the fourth biggest gainer in 'A' group. On the BSE, 1.49 lakh shares were traded on the counter so far as against the average daily volumes of 2.16 lakh shares in the past one month. K P R Mill Ltd gained 3.34% to Rs 1051.45. The stock was the fifth biggest gainer in 'A' group. On the BSE, 7723 shares were traded on the counter so far as against the average daily volumes of 11506 shares in the past one month. Powered by Capital Market - Live

PG Electroplast has allotted 2,14,59,218 equity shares to eligible qualified institutional buyers at an issue price of Rs 699 per equity share (including a premium of Rs 698 per equity share) (which includes a discount of Rs 6.18 per share i.e. 0.88% on floor price) aggregating to Rs 1499.99 crore pursuant to the QIP. With this allotment, the paid up equity share capital has increased to Rs 28,30,93,658 consisting of 28,30,93,658 equity shares each of Re 1 each. Powered by Capital Market - Live

The domestic equity benchmarks traded with major gains in morning trade. The Nifty traded above the 23,700 level. Media shares advanced after declining in the past trading session. At 09:26 IST, the barometer index, the S&P BSE Sensex jumped 903.36 points or 1.16% to 78,240.26. The Nifty 50 index gained 276.85 points or 1.18% to 23,730.65. In the broader market, the S&P BSE Mid-Cap index rallied 1.30% and the S&P BSE Small-Cap index jumped 1.50%. The market breadth was strong. On the BSE, 2,837 shares rose and 767 shares fell. A total of 141 shares were unchanged. Buzzing Index: The Nifty Media index jumped 2.93% to 1,954.55. The index fell 1.42% in the past trading session. Zee Entertainment Enterprises (up 7.27%), PVR Inox (up 2.95%), Dish TV India (up 2.91%), Sun TV Network (up 2.23%), Den Networks (up 2.04%), Hathway Cable & Datacom (up 1.77%), Nazara Technologies (up 1.19%), Tips Music (up 1.18%) and Saregama India (up 0.65%) advanced. Stocks in Spotlight: PG Electroplast soared 10.33% after the company informed that its wholly owned subsidiary, PG Technoplast has signed a definitive agreement with Spiro Mobility to manufacture electric vehicles (EVs) of Spiro Mobility (Spiro) in India. Shilpa Medicare rallied 3.53% after the company has received a certificate of suitability from the European Directorate for the Quality of Medicines & Healthcare for API, Octreotide.Powered by Capital Market - Live

PG Electroplast (PGEL) through its wholly owned subsidiary, PG Technoplast, has signed a definitive agreement with Spiro Mobility to become an exclusive manufacturing partner for manufacturing of the EVs of Spiro Mobility (Spiro) in India. The primary responsibility of PG Technoplast will be setting up and managing the manufacturing facilities for electric vehicle, lithium-Ion batteries and related components and for procurement of parts and raw materials for the same as specified by Spiro. Spiro shall be responsible for research and development, marketing, sale, and distribution of the EV products manufactured by PG Technoplast. Powered by Capital Market - Live

The primary responsibility of the company will be setting up and managing the manufacturing facilities for electric vehicles, lithium-ion batteries, and related components. The company was also tasked with procuring parts and raw materials as specified by Spiro. On the other hand, Spiro Mobility took responsibility for research and development, marketing, sales, and distribution of the EV products manufactured by PG Technoplast. Vishal Gupta, MD (Finance), PG Electroplast (PGEL) said, 'The company's entry into EV and Lithium-Ion batteries manufacturing opens up a new horizon of growth for the company and with Partner like Spiro, the company is confident that this association will go a long way and become a sizeable player in the EV market in India.' Kaushik Burman, CEO of Spiro Mobility Said 'Spiro is Africa's largest EV player and we are excited to partner with PG Technoplast for manufacturing the EVs and Lithium-Ion Batteries. The great execution track record, coupled with management's professionalism and execution focus, inspires confidence that the association of PG and Spiro will bring mutual success to each other and expand the EV space in emerging markets further.' PG Electroplast is a trusted one-stop solution provider for Electronic Manufacturing Services (EMS) and contract manufacturing to most leading consumer durable and electronics brands in India. The company has one of the biggest capacities in Plastic Injection molding and has capabilities across the value chain in original equipment manufacturing (OEM) and original design manufacturing (ODM) products like room ACs, washing machines, air-coolers, and LED TVs. The company's consolidated net profit spiked 56.31% to Rs 19.32 crore on 45.79% increased in revenue from operations to Rs 671.29 crore in Q2 FY25 over Q1 FY24. Shares of PG Electroplast shed 0.59% to close at Rs 624.95 on Monday, 18 November 2024.Powered by Capital Market - Live

Net profit of PG Electroplast rose 56.27% to Rs 19.33 crore in the quarter ended September 2024 as against Rs 12.37 crore during the previous quarter ended September 2023. Sales rose 45.80% to Rs 671.30 crore in the quarter ended September 2024 as against Rs 460.42 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales671.30460.42 46 OPM %8.408.16 - PBDT45.5128.65 59 PBT30.0617.60 71 NP19.3312.37 56 Powered by Capital Market - Live

PG Electroplast will hold a meeting of the Board of Directors of the Company on 11 November 2024Powered by Capital Market - Live