PG Electroplast Limited — PPTs, 12-05-2025: Investor Presentation

1. Financial Highlights:

PG Electroplast posted consolidated revenues of ₹4869.5 Cr, up 77.3% YoY. EBITDA grew 88.9% to ₹519.1 Cr with margin expansion to 10.7% from 10.0%. PAT surged 112.3% to ₹290.9 Cr, driving PAT margin to 6.0%. Raw material costs held steady at ~80% of sales, while improved operating leverage lifted profitability. The balance sheet strengthened with a net cash position of ₹678 Cr (cash ₹980 Cr minus debt ₹302 Cr). RoCE rose to 26.9%, reflecting efficient capital use.

2. Strategic Initiatives & Growth Drivers:

Heavy investments continue, with ₹488 Cr capex planned for FY25 and ₹800-900 Cr for FY26, focusing on capacity additions in plastics, washing machines, refrigerators, and AC segments. Emphasis on R&D, new products, and operational efficiencies aims to sustain margin gains and accelerate growth in consumer appliances and electronics.

3. Business Developments:

Subsidiary PG Technoplast recorded ₹3526 Cr revenues, showcasing rapid growth in its fourth year. The second AC manufacturing unit at Bhiwadi became operational, boosting production capacity. The 50-50 JV Goodworth Electronics is expected to grow revenues by 57.1% in FY26, further supporting group expansion.

4. Market Position & Competitive Advantage:

PG Electroplast is a top Indian EMS and ODM player with 11 plants nationwide and a diversified client base of 70+ leading brands. Strong backward integration and scale advantage underpin its competitive edge in consumer durables and electronics manufacturing.

5. Investor Implications:

Robust growth, margin improvement, strong cash flow, and aggressive capex signal positive growth potential. Investors should watch execution risks tied to large capacity builds and product ramps. Sustained focus on working capital and capital efficiency will be key to maintaining financial health.