PG Electroplast (533581) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 and 9M FY25 saw significant revenue and profit growth, with consolidated 9M revenues up 77.2% YoY to INR 2,959.67 crore, driven by strong product business, especially room ACs and washing machines.

• Operating margins and PAT improved, with 9M PAT up 120.9% YoY to INR 144.42 crore and Q3 net profit up 110% YoY to INR 40.14 crore.

• Major equity fund raise of INR 1,500 crore via QIP strengthened the balance sheet and supported capex and expansion.

• Focus on R&D, new product launches, and capacity enhancement to drive future growth.

• Financial statements reviewed by auditors with no material concerns.

Financial highlights

• Q3 FY25 sales rose 81.9% YoY to INR 967.69 crore; 9M FY25 sales up 77.2% YoY to INR 2,959.67 crore.

• Q3 EBITDA increased 96.5% YoY to INR 92.37 crore; 9M EBITDA up 85.5% YoY to INR 287.44 crore.

• Q3 net profit surged 110% YoY to INR 40.14 crore; 9M net profit up 120.9% YoY to INR 144.42 crore.

• Inventory levels elevated above INR 1,025 crore in preparation for robust AC season.

• Net cash position at INR 793 crore at nine-month end.

Outlook and guidance

• FY25 consolidated revenue guidance raised to at least INR 4,550 crore, plus INR 550 crore from JV, totaling INR 5,100 crore (up to 86% YoY growth).

• Net profit guidance for FY25 increased to at least INR 280 crore, up 105% YoY.

• CapEx guidance set at INR 370–380 crore; expansion and capacity enhancement on track.

• Product segment expected to grow 98% YoY to INR 3,300 crore.

• Focus on capital efficiency and industry-leading growth with best-in-class return ratios.