PG Electroplast Ltd Share Price – NSE  / BSE

Consumer Durables, Small Cap

One 97 Communications Ltd, Zydus Lifesciences Ltd, Reliance Power Ltd and Orient Cement Ltd are among the other losers in the BSE's 'A' group today, 26 August 2024.

PG Electroplast Ltd crashed 6.36% to Rs 522.35 at 14:46 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 1.2 lakh shares were traded on the counter so far as against the average daily volumes of 1.14 lakh shares in the past one month.

One 97 Communications Ltd tumbled 5.67% to Rs 523.05. The stock was the second biggest loser in 'A' group.On the BSE, 11.77 lakh shares were traded on the counter so far as against the average daily volumes of 6.08 lakh shares in the past one month.

Zydus Lifesciences Ltd lost 5.49% to Rs 1114. The stock was the third biggest loser in 'A' group.On the BSE, 1.3 lakh shares were traded on the counter so far as against the average daily volumes of 66926 shares in the past one month.

Reliance Power Ltd pared 4.99% to Rs 32.73. The stock was the fourth biggest loser in 'A' group.On the BSE, 18.13 lakh shares were traded on the counter so far as against the average daily volumes of 142 lakh shares in the past one month.

Orient Cement Ltd dropped 4.47% to Rs 316.35. The stock was the fifth biggest loser in 'A' group.On the BSE, 41714 shares were traded on the counter so far as against the average daily volumes of 1.63 lakh shares in the past one month.

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Net revenue from operations stood at Rs 1,320.68 crore in first quarter of FY25, registering a growth of 94.90% on YoY basis.

Profit before tax climbed 138.79% YoY to Rs 25.98 crore in the quarter ended 30 June 2024.

For Q1 FY24, EBITDA doubled on YoY basis to Rs 134.52 crore from Rs 67.10 crore recorded in same quarter last year.

Total expenses spiked 92.20% to Rs 1,223.46 crore in Q1 FY25 over Q1 FY24. Cost of material consumed stood at Rs 947.67 crore (up 93.31%YoY), employee benefit expenses stood at Rs 62.06 crore (up 74.28%YoY) and finance cost was at Rs 18.33 crore (down 30.56%YoY).

On outlook front, the management sees increased opportunities in the existing and new clients based on the current business environment. With new capacities and capabilities, the company is uniquely positioned in the consumer durables & plastics space in India.

In coming years, the company aspires to have Industry-leading growth in revenues, gradual improvement in margins due to operational efficiencies and operating leverage and best-in-class capital efficiency resulting from improved cash flows & balance sheet optimization.

On guidance front, PGEL revenues guidance is now revised to Rs 3,650 crore, a growth of 32.9% over FY2024 consolidated revenues (despite the shift of TV business to Goodworth Electronics). Revised Net profit guidance stands at Rs 216 crore, a growth of 57.7% over the FY24 net profit of Rs 137 crore.

The revenue guidance for Goodworth Electronics is Rs 600 crore in FY25, implying group revenues of Rs 4,250 crore. The growth in product business washing machines, room air conditioners and air coolers is expected to be 59% to Rs 2,650 crore from Rs 1,668 crore in FY24.

Capex guidance for FY25 for the consolidated entity stands in the range of Rs 370-380 crore and the company will invest in 2 new green field facilities in North India and further expand Supa facilities.

Vishal Gupta, MD (Finance) said, “PG's Product division has accomplished significant success, demonstrating strong growth leadership in key areas such as RACs and Washing Machines. The company is transitioning from being a Cost leader to a Product leader while maintaining the best cost structure. Emphasizing product innovations and increasing investments in new platforms for unique offerings are driving growth prospects across various product categories.

The company is gearing up for new opportunities by increasing its capacities and expanding its physical infrastructure. The Company’s focus on capital efficiency is paying off, with a Trailing 12-month Return on Capital Employed (RoCE) of 28% and a Return on Equity (RoE) of 24%. Management is confident and committed to delivering industry-leading growth and Best-in-class return ratios in the coming years.”

PG Electroplast manufactures printed circuit board assemblies, plastic injection mouldings for major consumer durables, specialised AC components, home electricals and kitchen appliances. The company caters to industries such as automotive components, consumer electronics mobile handsets and sanitary ware.

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Net profit of PG Electroplast rose 147.56% to Rs 83.70 crore in the quarter ended June 2024 as against Rs 33.81 crore during the previous quarter ended June 2023. Sales rose 94.90% to Rs 1320.68 crore in the quarter ended June 2024 as against Rs 677.62 crore during the previous quarter ended June 2023.

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PG Electroplast will hold a meeting of the Board of Directors of the Company on 24 July 2024.

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