PG Electroplast Q2 FY27 Earnings Call Transcript Released
PG Electroplast reported Q2 FY27 consolidated revenues of ₹934 crores, up 42.5% YoY, with net income at ₹13.67 crores. First-half revenues crossed ₹2,950 crores. The company expects ₹550-600 crores in electronics sales for FY27 and ₹800-900 crores for JV Goodworth. Full-year CAPEX is ₹400 crores, with FY28 CAPEX at ₹150-200 crores. Incentives for FY28 are projected at ₹105-110 crores.
The announcement details significant financial performance improvements, strategic capacity expansions, and future growth drivers, which are material for investors and stakeholders.
The company reported strong year-on-year growth in revenue and net income, along with robust performance in key business verticals. Expansion plans and new facilities are progressing well, indicating a positive outlook.
PG Electroplast Limited has released the transcript of its Q2 FY27 Earnings Conference Call, which was held on October 28, 2026. The call was hosted by JM Financial Institutional Securities Limited and featured management from PG Electroplast Limited, including Mr. Vishal Gupta (Managing Director), Mr. Pramod Gupta (Chief Financial Officer), and Mr. Vikas Gupta (Managing Director, Operations).
During the call, the management highlighted that consolidated revenues for Q2 FY27 reached ₹934 crores, a year-on-year increase of 42.5%. EBITDA grew by 54.8% to ₹69.14 crores, with an EBITDA margin of 7.4%. Net income stood at ₹13.67 crores, a significant increase from ₹2.76 crores in the same quarter last year. For the first half of FY27, consolidated revenues surpassed ₹2,950 crores for the first time. The room AC and washing machine verticals reported their highest-ever first-half sales, driven by a combination of double-digit volume growth and an increase in Average Selling Price (ASP) due to commodity costs and rupee depreciation.
The company is gearing up for strong execution in the second half of FY27. New facilities are becoming operational, including a washing machine manufacturing facility in Greater Noida and a new campus at Salarpur, Bhiwadi, which will house coolers, sanitaryware, plastic components, and mold-making facilities. The refrigerator facility at Sri City in South India is on track for commercial production in the last quarter of the current financial year, targeting meaningful revenue contribution from FY28. The compressor project at Supa is also on track for mass production within the current financial year.
Management discussed pricing strategies, noting that price increases have been ongoing, with further hikes planned for January 2027. They clarified that gross margins as a percentage have softened due to commodity price pass-through and a favorable mix shift towards the electronics business, which has lower margins. However, per-unit margins remain stable. The company expects a full-year volume growth of around 20% for the Room AC business and is targeting sales of ₹550-600 crores for the electronics business in FY27. The JV Goodworth Electronics is projected to achieve sales of ₹800-900 crores for the year.
Regarding incentives, the company expects around ₹105-110 crores for FY28 from PLI and state government schemes. CAPEX for the current year is on track at around ₹400 crores, with future CAPEX for FY28 estimated at ₹150-200 crores. The company is focusing on consolidating its business and building capabilities from recent investments.
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