PG Electroplast Q1 FY'27 Revenues Exceed ₹2,000 Crore, Driven by AC & Washing Machine Growth
PG Electroplast reported Q1 FY'27 consolidated revenues of ₹2,034 crore, up 35.2% YoY. Net profit increased by 12.9% to ₹75.3 crore. Key growth drivers included the Room AC and Washing Machine verticals, which achieved record sales. The company is expanding its manufacturing capacity with new facilities for washing machines and refrigerators, and is on track to surpass FY'25 earnings.
The announcement includes record-breaking revenue figures, significant year-on-year growth, and details on new capacity expansions and product launches, which are material events for investors and the market.
The company reported record revenues, significant year-on-year growth in revenue and net profit, and highlighted strong performance across key product segments. Expansion plans and strategic initiatives suggest a positive outlook.
PG Electroplast Limited announced strong performance for Q1 FY'27, with consolidated revenues crossing ₹2,000 crore for the first time in its history. The Room AC and Washing Machine verticals recorded their highest-ever quarterly sales.
Consolidated revenues stood at ₹2,034 crore, a year-on-year increase of 35.2%. EBITDA grew by 12.1% to ₹156.2 crore, resulting in an EBITDA margin of 7.7%. Net profit rose by 12.9% to ₹75.3 crore. The product business was a significant contributor, accounting for 80% of sales and growing by 40.7% year-on-year. Specifically, AC sales grew by 38.1% to ₹1,401 crore, washing machine sales increased by 67.2% to ₹211 crore, and coolers contributed ₹19 crore with a 3.4% growth. The electronics business saw a substantial 65.3% growth.
Plastic moulding and components contributed ₹294.6 crore, up 7% year-on-year. The joint venture, Goodworth Electronics, posted sales of ₹177.3 crore with an EBITDA of ₹6.3 crore. PG Technoplast, a wholly-owned subsidiary, reported strong sales of ₹1,600 crore.
The company's flagship washing machine manufacturing facility in Greater Noida is now operational with a capacity of 1.8 million units annually. The fully automatic washing machine business has seen 150% year-on-year growth. A new refrigerator facility in Sri City, South India, is on track for commercial production by Q4 of the current financial year, targeting meaningful revenue contribution from FY'28 onwards with a capacity of 1.2 million units.
The compressor project at Supa is also progressing as planned, with mass production expected in the current financial year. The company is also consolidating operations by relocating some units to its new Salarpur facility in Rajasthan.
Management highlighted that while gross margins softened due to elevated commodity prices (copper and aluminum) and rupee depreciation, per-unit margins remained stable. The company is now a net cash company with cash and bank balances at ₹491.3 crore. Future strategic priorities include R&D, new product development, backward integration, and capability enhancement to build long-term resilience and improve capital efficiency. The company anticipates surpassing FY'25 earnings in the current fiscal year.
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