PG Electroplast (533581) Q1 26/27 earnings summary

Executive summary

• Q1 FY 2027 delivered record consolidated revenue above INR 2,000 crore, driven by robust demand, strong product line execution, and new manufacturing capacity additions.

• Product business contributed over 80% of sales, led by significant YoY growth in ACs, washing machines, and electronics.

• New washing machine facility in Greater Noida and new units in Salarpur and DMIC commenced operations, enhancing manufacturing capacity.

• Maintained a healthy order book and net cash position at quarter-end.

• Strategic focus on R&D, new product development, and backward integration to drive future growth.

Financial highlights

• Consolidated revenue for Q1 FY 2027 was INR 2,034 crore, up 35.2% year-over-year; PAT increased 12.9% YoY to INR 75.3 crore.

• EBITDA reached INR 156.2 crore (12.1% growth), with an EBITDA margin of 7.7%.

• Product business contributed 80% of sales, with AC sales up 38.1% to INR 1,401 crore and washing machines up 67.2% to INR 211 crore.

• Cash & bank balances stood at INR 491.3 crore at the end of Q1 FY27, with modest debt.

• Basic EPS (consolidated) for the quarter was ₹2.67, up from ₹2.27 in the previous quarter.

Outlook and guidance

• Management expects 10%-20%+ volume growth for the full year, with potential to outperform industry growth by 4%-5%.

• New product launches and capacity additions in key segments are planned for upcoming quarters.

• Margin normalization is expected as commodity price increases are passed through, targeting around 8% operating margin for the year.

• Investments in new units (Salarpur, DMIC) and product launches to support growth and operational efficiency.

• Industry outlook remains positive, supported by government reforms and rising consumer demand.