PG Electroplast Q1 FY27 Revenues Cross ₹2,000 Crore, Driven by Product Business Growth
PG Electroplast reported 1Q FY27 revenues of ₹2,034 crore, up 35.2% YoY. Product business grew 40.7%, with ACs up 38.1% and Washing Machines up 67.2%. Electronics business grew 65.3%. Company has achieved a net cash position with ₹491.3 crore in cash and bank balances.
The announcement details significant revenue growth, exceeding historical records, and expansion of manufacturing capacity, which are material events for the company and its investors.
The company reported strong revenue growth, crossing ₹2,000 crore for the first time, with significant year-on-year increases across key business segments. The return to a net cash position is also a positive indicator.
PG Electroplast Limited (PGEL) announced its unaudited financial results for the quarter ended June 30, 2026 (1Q FY2027). The company achieved a significant milestone with consolidated quarterly revenues exceeding ₹2,000 crore for the first time in its history, marking a 35.2% year-on-year increase to ₹2,034.0 crore.
The product business was a major growth driver, contributing 80.2% of total revenues and growing 40.7% year-on-year. Within this segment, the Air Conditioner (AC) business grew by 38.1% YoY to ₹1,401.4 crore, Washing Machines business increased by 67.2% to ₹210.8 crore, and Air Coolers saw marginal growth of 3.4% YoY to ₹18.9 crore.
The Electronics business also demonstrated strong performance, growing 65.3% YoY and accounting for 5.3% of total revenues. Plastic Moulding and components contributed ₹294.55 crore, with a 7.5% YoY growth. The company's 100% subsidiary, PG Technoplast, reported revenues of ₹1,628.9 crore.
PGEL's 50:50 joint venture, Goodworth Electronics, posted revenues of ₹177.3 crore in 1Q FY27, up from ₹147.5 crore in 1Q FY26, with EBITDA rising to ₹6.3 crore from ₹4.3 crore.
A new, state-of-the-art Washing Machine manufacturing facility has commenced operations at a new campus in DMIC, Greater Noida, Uttar Pradesh, with a capacity to manufacture 1.8 million washing machines per annum.
Gross contribution as a percentage softened year-on-year due to elevated commodity prices, impacting margin percentages despite stable per-unit economics. Raw material cost increases have been partially passed through to customers.
The company ended 1Q FY27 with Cash & Bank Balances at ₹491.3 crore, returning to a net cash position. Strategic priorities for the company include R&D, new product development, backward integration, and capability enhancement, with a focus on controlling expenses, building long-term resilience, and enhancing capital efficiency.
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