PG Electroplast Q3 Results: FY26 guidance maintained after 46% sales growth

PG Electroplast Ltd on Monday reaffirmed its full-year guidance for FY26, signalling confidence in demand visibility and execution, after posting strong growth in revenue and profits during the third quarter.

The company expects consolidated revenues to come in at ₹5,700–5,800 crore for FY26, implying a growth of 17–19% over FY25.

Net profit is guided at ₹300–310 crore, representing a growth of 3–7% over FY25 levels. Including Goodworth Electronics, total group revenues are projected at ₹6,550–6,650

crore, with Goodworth alone expected to contribute ₹850 crore.

Product business revenues are expected to grow 17–21% to ₹4,140–4,280 crore in FY26, up from ₹3,526 crore in FY25, driven by continued strength in washing machines, room air conditioners and coolers.

For the third quarter, PG Electroplast reported a 50% year-on-year jump in net profit to ₹60.3 crore, while revenue rose 45.9% to ₹1,412 crore. EBITDA increased 37.4% to ₹117 crore, although margins narrowed to 8.3% from 8.8% a year ago.

PGEL’s wholly owned subsidiary, PG Technoplast, clocked revenues of ₹1,067 crore in Q3FY26, underscoring the scale-up in manufacturing operations.

Commenting on the performance, Chairman Anurag Gupta said the product business delivered robust growth despite a challenging operating environment, with strong momentum in key categories such as room air conditioners and washing machines. He added that the company continues to invest in new capabilities, capacity expansion and product development to strengthen long-term competitiveness.

During the quarter, the room air conditioner business grew 80.5%, aided by channel filling ahead of BEE rating changes, while the washing machine segment recorded a 45.1% increase. The product business contributed 80.7% of total revenues in Q3 and grew 72.4% year-on-year.

The company said its balance sheet remains resilient and largely debt-free, with RoCE at 18.6% and net fixed asset turns at 6.03x over the trailing twelve months. Management said it plans to continue investing in capacity enhancement to support future growth.

Ahead of the earnings announcement, shares of PG Electroplast Ltd closed 4.07% higher on the NSE at ₹563.55, gaining ₹22.05.