PG Electroplast Ltd.

NSE: PGEL · Consumer Electronics

52W Range₹437 ₹824

Snapshot

Unlock PG Electroplast Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

PG Electroplast Limited is an Indian electronic manufacturing services (EMS) provider specialising in plastic injection moulding and the assembly of consumer durables. The company serves original equipment and design manufacturers across the white goods, automotive, and electrical equipment sectors.

Business Model

The company operates as an EMS provider, generating revenue through the manufacturing of plastic components, printed circuit board assemblies, and the full-scale assembly of finished consumer appliances. It leverages high-precision moulding and assembly capabilities to provide end-to-end solutions for its clients.

Growth Outlook

Growth is driven by the increasing outsourcing of manufacturing by consumer durable brands in India and the expansion of production capacity for air conditioners and washing machines. The company continues to invest in advanced manufacturing technologies to capture a larger share of the domestic electronics market.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the prices of polymers and electronic components can significantly impact operating margins.
  • Client Concentration. The company's revenue is heavily dependent on a limited number of large original equipment manufacturer clients.
  • Intense Competition. The EMS sector in India is highly competitive, with pressure to maintain low costs while meeting stringent quality standards.
  • Regulatory and Supply Chain Risks. Dependence on imported electronic components makes the company vulnerable to global supply chain disruptions and changes in import duties.

Price

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Key Metrics

REVENUE

₹5,288 Cr

TTM · consolidated

+8.6%YoY

NET PROFIT

₹197 Cr

TTM · consolidated

-31.7%YoY

EPS

₹6.91

TTM · consolidated

-35.7%YoY

RETURN ON EQUITY

6.8%

TTM · consolidated

-12.6 ppYoY

RETURN ON CAPITAL EMPLOYED

11.1%

TTM · consolidated

-14.2 ppYoY

P/E

89.9x

Q4 FY26 · consolidated

89.9 vs 51.5x5Y avg

EV/EBITDA

41.4x

Q4 FY26 · consolidated

41.4 vs 129.9x5Y avg

EBITDA MARGIN

8.4%

TTM · consolidated

-2.3 ppYoY

NET PROFIT MARGIN

3.8%

Q4 FY26 · consolidated

-3.8 ppYoY

DEBT TO EQUITY

0.2x

Q4 FY26 · consolidated

+0.09xYoY

Peers · Consumer Electronics

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
PG Electroplast Ltd.PGEL
14,29789.8641.428.6%8.4%6.8%11.1%-25.0%
Dixon Technologies (India) Ltd.DIXON
62,23053.2734.0825.8%5.3%48.0%46.1%-9.9%
MIRC ElectronicsMIRCELECTR
888-294.00-79.487.3%-1.8%4.9%14.9%
IKIO TechIKIO
83940.6118.0722.5%15.5%7.3%10.2%+0.5%
CWDCWD
59518.0%-78.8%
Universus PhotoUNIVPHOTO
4785.7344.94-23.7%54.3%0.0%-1109.7%+50.7%

As of Q4 FY26

Financials