Consumer Electronics company PG Electroplast announced Q3FY24 & 9MFY24 results: Q3FY24 Financial Highlights: Net sales amounted to Rs 5.30 billion, marking a growth of 15.8% YoY. Quarterly EBITDA reached Rs 470 million, compared to Rs 381.7 million in Q3FY24, reflecting a growth of 23.1% YoY. Quarterly net profits stood at Rs 192.3 million, up from Rs 137.4 million in Q3FY24, representing a growth of 40.0% YoY. 9MFY24 Financial Highlights: Net sales for the period were Rs 16.65 billion, indicating a growth of 26.1% YoY. EBITDA stood at Rs 1.55 billion, compared to Rs 1.04 billion in 9MFY24, reflecting a growth of 49.7%. Net profits stood at Rs 654.2 million, compared to Rs 373.0 million in 9MFY23, showing a growth of 75.4%. Commenting on the performance, Vishal Gupta, MD (Finance), stated, "PG’s 9MFY24 performance reflects its strategy and focus on capital allocation and growing organically. The company continues to strengthen its position in RAC, Washing Machines, and Consumer Electronics with industry-leading growth in its areas of focus. We believe our Capacity and Capability matrix has further strengthened with the commissioning of the new AC facility in Bhiwadi, expanded capacities for AC in Supa, and the flagship Electronics Manufacturing facility in JV in Greater Noida. The outlook for all business segments remains robust with increases in wallet shares in existing clients and good momentum in addition of new clients. We continue to execute the Product business strategy by expanding our R&D; and Product development capabilities." Result PDF
Consumer Electronics company PG Electroplast announced Q1FY24 results: Net sales for Q1FY24 was Rs 6.76 billion – a growth of 26.3% YoY. Operating profit for Q1FY24 was Rs 642.0 million a growth of 84.3% Quarterly EBITDA stood at Rs 671.0 million versus Rs 376.4 million in Q1FY23 - a growth of 78.3%. Quarterly net profit stood at Rs 338.1 million versus Rs 164.0 million in Q1FY23 - a growth of 106.1%. “PG’s Product business is gaining scale and is now the dominant contributor to the consolidated Sales. New product innovations and accelerating investment in newer platforms for differentiated offerings are boosting growth outlook across product segments. With 2 new facilities, one for RAC and one for TV, along with the expansion of the Supa facility, the company will be increasing its capacities significantly. With new partnerships, our positioning in consumer electronics and consumer durables is further strengthening. The focus on capital efficiency has started bearing fruits for the company. On a trailing 12-month basis, the company has crossed 22% RoCE and 24% RoE, and the management remains confident and committed to delivering industry-leading growth with best-in-class return ratios in the coming years.” said Vishal Gupta, M.D. Finance. Result PDF
Consumer Electronics firm PG Electroplast announced Q4FY23 & FY23 results: Q4FY23: Net Sales for the quarter was Rs 8.269 billion – a growth of 65.4% YoY. Operating profit for the quarter was Rs 744.2 million a growth of 105.0% Quarterly EBITDA stood at Rs 769.0 million versus Rs 529.3 million in 4QFY2022 – a growth of 45.3%. Quarterly Net profit stood at Rs 401.7 million versus Rs 276.3 million in 4QFY2022. FY23: Net Sales were Rs 21.478 billion – growth of 95.7% YoY. Operating profit for the year was Rs 1.639 billion – growth of 115.6% EBITDA for FY2023 stood at Rs 1.804 billion vs Rs 942.8 million– growth of 91.4%. Net profit for FY2023 stood at Rs 774.7 million versus Rs 374.2 million – a growth of 107.0%. “PG’s growth strategy is now bearing fruit and with over Rs 1,300 crores in Product business, company has firmly established itself as a credible contract manufacturer & ODM player in Room AC and Washing Machine industry. Growth outlook across current focus segments remains robust and with new initiatives, Company’s addressable market in Consumer Electronics and Consumer Durables will see multifold increase. Focus on capital efficiency, driven by improving Asset turns through product business growth has been the hallmark of our strategy and we aim to deliver Industry leading growth with best in class return ratios in coming years. We believe that our new initiatives and planned capacities will open new growth horizon for Company in near future.” said Mr. Anurag Gupta, Chairman of the company. Result PDF
PG Electroplast announced Q3FY23 results: Q3FY23: Net Sales for the quarter were Rs 4,579 million – a growth of 74.8% YoY. Quarterly EBITDA stood at Rs 381.7 million vs Rs 178.1 million in 3QFY22 – a growth of 114.3%. Quarterly Net Profits stood at Rs 174.0 million vs Rs 68.5 million in 2QFY22 – a growth of 148%. 9MFY23: Net Sales for the period are Rs 13,209 million – a growth of 120.9% YoY. EBITDA stood at Rs 1,035.3 million vs Rs 409.3 million – a growth of 152.9%. Net Profits stood at Rs 373.0 million vs Rs 97.8 million in 9MFY22 – a growth of 281.4%. Mr. Vishal Gupta, MD of Finance, said: “PG’s 9MFY23 performance is a reflection of its strategy of focusing on the Product business, which is helping the company build scale and improve its financial ratios. The growth outlook remains robust for the Product business of the company and with Expanded capacities, PGEL is well placed to gain a further foothold in the contract manufacturing space in Washing Machines (WM), Air Conditioner (AC) and Air Cooler markets. The growth outlook is being revised up for FY23 due to sharp successful scale-ups across all business segments. The Capacity and Capability matrix of the company has further strengthened with the commissioning of the new AC controller facility in Supa and expanded capacities for AC and WM in Supa and Greater Noida respectively. The outlook for all business segments remains robust with an increase in wallet share in the existing clients and good momentum in addition to new clients. We continue to execute the Product business strategy by expanding our R&D; and Product development capabilities." Result PDF