PG Electroplast shares jump 11% on strong Q3 results; PAT zooms 109% YoY, stock has jumped 300% in 12 months; check key details

PG Electroplast boasts as a one-stop solution provider for electronic manufacturing services (EMS) and contract manufacturing to the leading consumer durable and electronics brands in India.

The company says it 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.

PG Electroplast Q3 Results

For the quarter under review, PG Electroplast reported an operating revenue of ₹967.69 crore—a growth of 81.9% YoY. Quarterly EBITDA, or earnings before interest, taxes, depreciation, and amortisation, stood at ₹92.37 crore versus ₹47.00 crore in the year-ago period, a growth of 96.5%.

The company's net profit stood at ₹40.14 crore against ₹19.24 crore registered in the year-ago period—a growth of 108.7%.

Other Highlights

"3QFY2025 was a robust quarter for PG Electroplast with all business segments growing rapidly," the company added. Here are the details.

• Consolidated revenue at ₹968 crore was boosted by Product business sales of ₹663 crore. PGEL’s 100% subsidiary, PG Technoplast clocked ₹620 crore in revenue in 3QFY2025.

The Product business contributed 68.5% of the total revenues in 3Q FY 2025. The Product business grew 140.7% YoY for the quarter. The order book and visibility for all product businesses remain robust, and the company is on track to scale the business significantly in FY2025.

• Electronics ex-TV business in PG Electroplast contributed 7.0% of the total revenues and grew by 15.6X in 3QFY2025.

• The sales of the TV business in Goodworth in 9MFY2025 stood at ₹436.56 crores as compared to ₹253.63 crores in PGEL in 9MFY2024, a growth of 72.1%.

• The capital efficiency of the business is robust, and the company’s RoCE was 23.5% and RoE was 11.9% for the trailing 12 months, ending Dec. 2024. Net fixed asset turns for the company stood at 5.34x.

Future Outlook

The company added that the management sees increased opportunities in the existing and new clients based on the current business environment. With new capacities and capabilities, the company is uniquely positioned in the consumer durables & plastics space in India. In coming years, the company aspires to:

• Have industry-leading growth in revenues.

• Gradual improvement in margins due to operational efficiencies and operating leverage.

• Best-in-class capital efficiency resulting from improved cash flows & balance sheet optimisation.

Guidance for FY2025

• PGEL revenue guidance is now revised upwards to ₹4,550 crore, which will be a growth of 65.7% over FY2024 consolidated Revenues (despite the shift of the TV business to Goodworth Electronics). Net profit guidance is also revised upwards and now stands at ₹280 crore, which will be a growth of 104.5% over the FY2024 net profit of ₹137.0 crore.

• The revenue guidance for Goodworth Electronics is ₹550 crore in FY2025, implying group revenues of ₹5,100 crore.

• The growth in product business, i.e., washing machines, room air conditioners, and air coolers, is expected to be nearly 98% to ₹3,300 crore from ₹1,668 crore in FY2024.

• Capex for FY2025 stands at ₹370-380 crore, and the company is commissioning two new greenfield facilities in North India and further expanding Supa facilities.

PG Electroplast share price trend

Shares of the company have given a whopping 307% return in the past 12 months. PG Electroplast is a part of the BSE SmallCap universe.