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
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