| Metric | Value (₹ Cr) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 655.37 | 56.4% | 2.4% |
| Total Income | 669.95 | 56.0% | 0.8% |
| Expenditure | 663.63 | 53.8% | 2.8% |
| PBT | 6.32 | 92.5% | 79.0% |
| Net Profit | 2.76 | 95.9% | 85.7% |
| OPM | 4.59% | 3.47pp | 5.27pp |
| NPM | 0.41% | 3.99pp | 2.47pp |
| EPS | 0.09 | 96.2% | 87.8% |
PG Electroplast Ltd Announces Q2 FY26 Results: Moderated Growth Amidst Subdued Demand
13 Nov 2025 · 13 Nov 2025, 05:03 pm
Summary
PG Electroplast Ltd, a leading player in Electronic Manufacturing Services (EMS) and Plastic Molding, announced its unaudited financial results for the quarter ended September 30, 2025. The company reported a moderated growth due to subdued demand in the Room AC segment. However, the management remains optimistic about the medium to long-term outlook and is committed to building a resilient, high-performing organization.
Key Highlights
- 1
Revenues stood at INR 655.37 crores, down 2.4% YoY
- 2
EBITDA stood at INR 44.68 crores vs. INR 60.54 crores in 2QFY25 — down 26.2%
- 3
Net Profit for the quarter stood at INR 2.38 crores, vs. INR 19.47 crores in 2QFY25
- 4
Net Sales for the period were INR 2159.22 crores — growth of 8.4% YoY
- 5
EBITDA stood at INR 184.10 crores versus INR 195.08 crores in THFY2025
- 6
Net Profits stood at INR 69.09 crores versus INR 104.40 crores in 1HFY2025
- 7
1HFY26 was a challenging period for PGEL’s summer product portfolio
- 8
The Product business contributed 68.4% of overall revenues, growing 9.2% YoY
- 9
PGEL’s 100% subsidiary, PG Technoplast, reported revenues of INR 1,507 crores
- 10
Capital efficiency on Trailing twelve month for PGEL remains strong: ROCE: 20.8%, RoOE: 12.6%, Net Fixed Asset Turnover: 5.04x
- 11
The company plans to continue investing in capacity expansion for RACs and Washing Machines to support future growth
- 12
PGEL Consolidated Revenues expected at INR 5,700-5,800 crores, implying growth of 17% to 19% over FY25
- 13
Net Profit Guidance: INR 300-310 crores, a growth of 3%—7% over FY25 net profit of INR 291 crores
- 14
Goodworth Electronics Revenue Guidance: INR 850 crores, implying Total Group Revenues of INR 6,550-6,650 crores
- 15
Product business expected to grow 17%—21%, reaching INR 4,140-4,280 crores
- 16
FY26 Capex expected to be INR 700-750 crores
Management Comments
Vikas Gupta
Managing Director — Operations
Sales performance in the first half of FY26 was impacted by subdued demand in the Room AC segment, resulting in a moderated growth. However, underlying demand indicators remain healthy, and the recent reduction in GST rates is expected to enhance product affordability and accelerate category penetration over the medium term. Given the structurally low penetration of Room ACs in India, we continue to see significant headroom for sustained growth. Capital efficiency continues to be a key operating principle, with all capital allocation decisions guided by sustainable profitability and value-accretive metrics. While near-term growth momentum may moderate, the medium to long-term outlook remains positive. The Company is committed to building a resilient, high-performing organization that consistently delivers superior returns and long-term stakeholder value. The Company remains steadfast in its focus on research and development, product innovation, capital-efficient expansion, and strengthening strategic client partnerships. Ongoing investments in new platform development and capacity augmentation across core product categories are progressing as planned.
Informational and educational content only. Not investment advice.