PG Electroplast announced Q2FY23 results: Q2FY23: Net sales for the quarter were Rs 3,278 million – a growth of 65.2% YoY. Quarterly EBITDA stood at Rs 277.2 million in Q2FY23 versus Rs 133.2 million in Q2FY22 – a growth of 108.1%. Quarterly net profit stood at Rs 71.7 million in Q2FY23 versus Rs 36.5 million in Q2FY22. H1FY23: Net sales for the quarter were Rs 8,630 million – a growth of 156.9% YoY. EBITDA stood at Rs 653.6 million in Q2FY23 versus Rs 231.2 million in Q2FY22 – a growth of 182.6%. Net profit stood at Rs 235.7 million in H1FY23 versus Rs 42.4 million in H1FY22. Mr. Vikas Gupta, MD Operations,- “PG achieved another milestone in H1FY23, as its washing machines business ascended new heights, completing deliveries of over 2,50,000 washing machines in H1FY23. Capacity expansions are on track. The new washing machine line at Noida has been commissioned, while the new room AC capacities are expected to be up and running by December 2022. With further scale-up in the product business in the second half, FY23 could be another landmark year for the company Our focus on R&D;, product development, capacity enhancement and capability buildout continues, and we are confident of sustaining our momentum in the coming times. The outlook for the company remains strong as the product business continues to scale up to its potential through the addition of new clients and through increases in wallet share from our existing clients. The company has and continues to, position itself well to capitalize on the growth opportunities in the industry in the coming years." Result PDF
Consumer Electronics firm PG Electroplast announced Q1FY23 Result : Net Sales for the quarter were INR 5352 million – a growth of 289.3% YoY. Quarterly EBITDA stood at INR 376.4 million versus INR 96.5 million in 1QFY2022 – a growth of 289.9%. Quarterly Net Profits stood at INR 164.0 million versus INR 6.0 million in 1QFY2022. Working capital normalized during the quarter and stood at 38 days. The Net Debt at the end of the quarter stood at INR 2913.9 million versus INR 1689.3 million in 1QFY2022 “With the highest ever sales in 1QFY2023, PG achieved another landmark by crossing INR 500 crores quarterly sales. Robust growth in both Room AC and Washing machines businesses, along with a strong orderbook has put PG on a firm footing for the coming times. The management is confident that the company is all set to achieve higher targets and scale new records of growth in FY2023 We continue to invest in increasing Capacities and enhancing Capabilities. The new expansion in Washing Machines, Room AC and Air Cooler businesses will further strengthen PGEL’s positioning as reliable and capable ODM partners. With acquisition of business from new customers and other marquee brands across product categories, the growth prospects of the company are becoming quite promising and more sustainable.” -Mr. Anurag Gupta, Chairman Result PDF
PG Electroplast declares Q4FY22 result: Net Sale for the quarter were Rs 4998 million – a growth of 51.7% YoY. Quarterly EBITDA stood at Rs 524.6 million versus Rs 252.8 million in 4QFY2021 – a growth of 107.5%. Quarterly Net profit stood at Rs 276.3 million versus Rs 104.4million in 4QFY2021 Net Revenues were Rs 10977 million – growth of 56.1% YoY. EBITDA for FY2022 stood at Rs 927 million versus Rs 524 million – growth of 77.0%. Net profit for FY2022 stood at Rs 374.4 million versus Rs 116.1 million – a growth of 222.0% Result PDF
Highlights: Q2 FY22: Net Revenues for the quarter were Rs 2003 million – a growth of 30.6% YoY. Quarterly EBITDA stood at Rs 143 million versus Rs 135 million in 2QFY2021 – growth of 5.8%. Quarterly Net profit stood at Rs 46.4 million versus Rs 31.7 million in 2QFY2021 – growth of 46.5%. H1 FY22: Net Revenues were Rs 3383 million – growth of 77.4% YoY. EBITDA for 1H2022 stood at Rs 241 million versus Rs 112 million in H12021– growth of 116%. Net profit for 1H2022 stood at Rs 52.5 million versus a loss of Rs 53.2 million in H12021. “The aftereffects of COVID-19’s second wave shutdowns led to slow pickup for the quarter, thus impacting the sales growth. Some products like AC IDUs were particularly affected, where one-off expenses, subdued the operating margins for the quarter temporarily. However, significant progress has been made on several fronts and company expects to see robust Sales growth and better operating leverages in 2HFY2022. During the quarter, company’s new plants has progressed well, with the construction for the new facility in Supa, Ahmednagar expected to be completed in the next couple of weeks, while the new Greater Noida facility has started trial production. The product validation and testing for the PG’s ODM ACs has been completed and several marquee clients have issued purchase orders for coming season. The TV business is also shaping well and production will start in current quarter. With the PLI approval for PG Technoplast having also been obtained, the company is now very well positioned to grow its product business further” said Shri Vishal Gupta, Managing Director (Finance) of the Company. Result PDF