New Delhi, Aug 7: PG Electroplast Ltd., one of India’s pioneers players in Electronic Manufacturing Services and Plastic Molding, announced its unaudited financial results for the quarter ended June 30, 2026, as approved by its Board of Directors.
“This has been a landmark quarter for PGEL, with consolidated revenues crossing INR 2,000 crores for the first time in our history. The broader industry is now coming out of a difficult stretch marked by successive demand and supply shocks, and the underlying indicators point to a genuine recovery. Given the relatively low penetration levels in core categorieslike Room ACs and Washing Machines, we see significant long-term headroom for growth.
We remain focused on product innovation, capital-efficient expansion, and deepening our client partnerships, with investments in new platform development and capability enhancement across our core product lines progressing as planned. All capex decisions continue to be guided by sustainable profitability and long-term value creation.
Our future outlook remains strong, and we are committed to building a resilient, high-performing organization.” — Vikas Gupta, Managing Director – Operations
Quarter ended June 30th, 2026
• Revenues stood at INR 2,034.0 crores, up 35.2% YoY
• EBITDA stood at INR 156.2 crores vs. INR 139.4 crores in 1QFY26 – growth of 12.1%
• Net Profit forthe quarterstood at INR 75.3 crores, vs. INR 66.7 croresin 1QFY26, growth of 12.9% Other Highlights
• 1QFY27 has been a strong growth period as consolidated quarterly revenues crossed INR 2,000 crores for the first time in the company’s history.
• Our 100% subsidiary, PG Technoplast, reported INR 1,628.9 crores in revenue. The order book remains healthy across all product categories.
• Product business contributed 80.2% of total revenues in 1QFY27, growing 40.7% YoY, with the AC business growing 38.1% YoY to INR 1,401.4 crores, the Washing Machines business growing 67.2% to INR 210.8 crores, and Coolers growing 3.4% YoY to INR 18.9 crores.
• The Electronics business grew 65.3% YoY and contributed 5.3% of total revenues. Plastic Moulding and components contributed INR 294.55 crores, and grew 7.5% YoY.
• Our 50:50 JV, Goodworth Electronics, posted revenues of INR 177.3 crores in 1QFY27 vs. INR 147.5 crores in 1QFY26, with EBITDA of INR 6.3 crores vs. INR 4.3 crores YoY.
• PGEL’s flagship Washing Machine manufacturing facility has come online in a new campus in DMIC, Greater Noida, Uttar Pradesh. A state-of-the-art plant, it will have the capacity to manufacture 1.8mn washing machines per annum.
• Gross contribution as a percentage softened YoY due to elevated commodity prices. Since product pricing in the industry is typically structured on a per-unit rupee margin basis, rising input costs mechanically lower the margin percentage even as per-unit economics stay stable. Raw material cost increases have been partially passed through to customers.
• Cash & Bank Balances stood at INR 491.3 crores at the end of 1QFY27, and the company returned to a net cash position after a net debt position in 4QFY26.
• Our focus on controlling expenses in FY27 is already bearing fruit, and we remain committed to building long-term resilience and enhancing capital efficiency.
• Strategic priorities include R&D, new product development, backward integration, and capability enhancement.
The company plans to continue investing in developing capabilities and capacities in existing and adjacent product segments to support future growth.
Future Outlook
The management sees increased opportunities from both existing and new clients. With enhanced capacities and technological capabilities, PGEL is well-positioned in India’s consumer durables and plastics ecosystem.
In the coming years, the company aims to:
• Achieve industry-leading revenue growth
• Drive gradual margin expansion through operational efficiencies and operating leverage
• Maintain best-in-class capital efficiency through improved cash flows and balance sheet optimization
Several capacity projects initiated over the past year are progressing toward commercialization and are expected to come online through FY27, including:
• The refrigerator campus in Sri City, Andhra Pradesh
• The state of the art room air conditioner compressor manufacturing plant in Supa, Maharashtra
• The facility for plastic components, tooling, and coolers in Salarpur, Rajasthan
