Skip to content
PG Electroplast logo

PG Electroplast

PGEL NSE
₹536.80 −4.20 (−0.78%)
P/E
74.45
View as Markdown
MCP
Close 4 Nov 2026 ₹536.80 −13.30 −2.42% 1Y
Start ₹550.10

Key Fundamentals

SmallcapConsumer DurablesConsumer Discretionary

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
10.30%
Debt to Equity
0.20
EPS (TTM)
₹7.21
Book Value
₹109.77
Market Cap
—
P/E (TTM)
74.45
P/B
4.89
ROE
6.70%
Dividend Yield
0.05%
EBITDA
₹442 Cr
52W High
₹644.40
52W Low
₹436.55
Day Range
₹530.75 – ₹545.35
Volume
7,34,059

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

35 Poor

Data confidence 100/100

Category scores

Quality
29
Poor
Returns, margins, earnings quality 22% weight
Valuation
17
Poor
Cheap vs sector & own history 24% weight
Growth
53
Average
Sales & profit trajectory 9% weight
Financial Health
52
Average
Solvency, leverage, coverage 9% weight
Momentum
37
Weak
Trend strength, vol-adjusted 12% weight
Ownership
47
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has delivered good profit growth of 75.2% CAGR over last 5 years

Weaknesses

2
  • Company has a low return on equity of 11.1% over last 3 years.
  • Promoter holding has decreased over last 3 years: -10.4%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish748
OscillatorsBearish342
Moving AveragesStrong Bullish406

Key readings

RSI (14)
56.24
Neutral
MACD (12,26,9)
1.66
Bullish
SMA (50)
531.00
Bullish
SMA (200)
546.03
Bearish

As of

Analyst Rating

Based on 10 analysts
BUY80%

8 of 10 analysts rate Buy, 2 Hold, 0 Sell.

As of

BUY
8
80%
HOLD
2
20%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10YIrregular period
5Y+49.72%
3Y+34.78%
1Y+8.58%
TTM+15.14%

Net profit

Net profit growth by window
10YIrregular period
5Y+75.01%
3Y+36.77%
1Y−31.60%
TTM−23.99%

Operating cash flow

Operating cash flow growth by window
10YIrregular period
5Y+4.19%
3Y+15.02%
1YTurned positive
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10YIrregular period
5Y+0.21 pp
3Y−0.87 pp
1Y−2.62 pp
TTM−2.26 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2011₹424 Cr
Mar 2012₹222 Cr
Mar 2013₹303 Cr
Mar 2021₹703 Cr
Mar 2022₹1,098 Cr
Mar 2023₹2,160 Cr
Mar 2024₹2,746 Cr
Mar 2025₹4,870 Cr
Mar 2026₹5,288 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2011₹18.00 Cr
Mar 2012−₹9.00 Cr
Mar 2013−₹5.00 Cr
Mar 2021₹12.00 Cr
Mar 2022₹37.00 Cr
Mar 2023₹77.00 Cr
Mar 2024₹135 Cr
Mar 2025₹288 Cr
Mar 2026₹197 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹143 Cr +94.6% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 4 Nov 2026
AI opinion · based on fundamentals
Risk high

PG Electroplast Ltd trades at ₹536.8 as of 2026-11-04 with a market cap of ₹15,569 crore and a P/E of 74.45x on trailing earnings. The company has delivered strong long-term growth — 75% compounded profit CAGR over five years and 50% compounded sales CAGR over five years — but recent momentum has slowed, with TTM profit declining 24% and ROE moderating to 7% in the last year.

Bull Case 7
  • Exceptional 5-year compounded profit growth of 75% CAGR demonstrates strong long-term earnings trajectory in the consumer goods/electronics manufacturing space.
  • 5-year compounded sales CAGR of 50% reflects sustained top-line expansion and growing market relevance.
  • Debt-to-equity ratio of just 0.20 as of 2026-11-04 indicates a conservatively financed balance sheet with limited leverage risk.
  • 3-year compounded sales growth of 35% and 3-year compounded profit growth of 36% show that mid-term growth has been well-balanced between revenue and earnings.
  • 5-year stock CAGR of 61% and 10-year stock CAGR of 42% reflect a sustained long-term re-rating, indicating the market has rewarded the company's growth over extended periods.
  • TTM sales growth of 15% shows the company continues to expand its top line even as the broader growth rate moderates.
  • Price-to-book ratio of 4.89x, while not cheap, is supported by historical 5-year average ROE of 12%, suggesting the company has generated returns above its cost of equity over time.
Bear Case 8
  • TTM compounded profit has declined 24%, a sharp reversal from the 5-year 75% CAGR, signalling potential margin compression or one-off earnings headwinds.
  • Trailing P/E of 74.45x as of 2026-11-04 is elevated, requiring substantial future earnings growth to justify the current valuation.
  • ROE has deteriorated from a 5-year average of 12% and 3-year average of 11% down to 7% in the last year (6.35% on a point basis), indicating declining capital efficiency.
  • Promoter holding has decreased by 10.4% over the last three years, which may signal reduced insider confidence or dilution.
  • The stock is down 13% over the past one year on a CAGR basis and trades roughly 17% below its 52-week high of ₹644.4, reflecting weakening near-term sentiment.
  • 3-year average ROE of 11% is modest for a company commanding a P/E above 74x, suggesting the valuation premium is not well-supported by current returns on capital.
  • Dividend yield of just 0.05% as of 2026-11-04 offers virtually no income cushion for investors during periods of price weakness.
  • ROCE of 10.55% is moderate, and when paired with the declining ROE trend, raises questions about whether the company's capital deployment is generating sufficient incremental returns.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: PG Electroplast delivered a breakout Q2 FY27 with 395% profit growth and 43% revenue expansion driven by strong performance across AC, washing machine, and electronics segments. Key risks include gross margin compression from commodity costs and rising working capital pressure with payables up 57%. The growth trajectory is clearly improving with two new facilities and a compressor plant on track for Q4 FY27 and early FY28, which should support capacity expansion and backward integration over the medium term.

Headwinds 3
  • Gross margins contract 370bps Oct 27

    Gross contribution as a percentage of revenue fell 370 basis points YoY to 17.8% due to elevated commodity prices, though raw material cost increases were fully passed through to customers.

  • Trade payables surge 57% Oct 27

    Trade payables jumped 57% to ₹1,226 crore with average payable days rising from 50.48 to 71.69, signaling working capital pressure despite ₹422 crore cash on hand.

  • Stock down 8% YTD Oct 27

    Shares have declined 8% from the start of the year and are down 5% over six months, trading well below the 52-week high of ₹644.40 hit on January 5, 2026.

Positives 5
  • Q2 net profit surges 395% Nov 04

    Consolidated net profit rose 395% YoY to ₹13.7-14 crore in Q2 FY27 while revenue grew 42.6% YoY to ₹934 crore. EBITDA doubled to ₹60 crore with margins expanding to 6.4% from 4.5%.

  • H1 revenue crosses ₹2,950 crore Oct 27

    PG Electroplast crossed ₹2,950 crore in consolidated revenue for H1 FY27 for the first time, with product business contributing 70% of total revenue and growing 41% YoY.

  • Electronics business up 90% Oct 27

    Electronics segment delivered 90.3% YoY growth in H1 FY27, contributing 12.1% of total revenue. Washing machines grew 60.7% to ₹504.8 crore and AC business rose 36% to ₹1,561 crore.

Neutral 2
  • Capex advances fully completed Oct 27

    All advances for capex have been completed and most working capital requirements are tied up for H2 FY27, with balance sheet holding ₹422 crore in cash and equivalents.

  • Subsidiary PG Technoplast steady Oct 27

    Subsidiary PG Technoplast reported ₹2,130.5 crore in revenue with a healthy order book across all product categories during H1 FY27.

Quarterly Results

₹ Cr
PGEL quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
678
460
532
1,077
1,321
671
968
1,910
1,504
655
1,412
1,717
2,034
934
Expenses
612
423
490
960
1,190
615
883
1,698
1,383
625
1,295
1,598
1,886
874
Operating Profit
66
38
42
116
131
56
85
212
121
30
117
119
148
60
OPM %
10%
8%
8%
11%
10%
8%
9%
11%
8%
4.6%
8%
7%
7%
6%
Other Income
1
3
5
3
4
4
7
20
18
15
9
13
8
14
Interest
14
12
10
16
18
15
22
33
34
17
25
26
35
26
Depreciation
11
11
11
14
15
15
16
19
21
22
22
24
27
28
PBT
42
18
26
91
101
30
54
180
85
6
79
82
94
19
Tax %
20%
30%
26%
21%
16%
35%
25%
19%
21%
62%
24%
22%
20%
30%
Net Profit
34
12
19
70
84
19
40
145
67
3
62
65
76
14
EPS (₹)
1.49
0.48
0.74
2.67
3.21
0.74
1.4
5.13
2.36
0.1
2.17
2.27
2.67
—

Sep 2026: from the results filed on 27 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
PGEL profit and loss, annual, ₹ crore
Particulars Mar 2011Mar 2012Mar 2013Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
424
222
303
703
1,098
2,160
2,746
4,870
5,288
5,818
Expenses
396
219
298
653
1,023
1,983
2,484
4,385
4,901
5,404
Operating Profit
28
3
5
50
75
177
262
484
387
414
OPM %
7%
1.2%
1.6%
7%
7%
8%
10%
10%
7%
7%
Other Income
3
4
7
2
19
4
12
35
54
45
Interest
6
11
11
18
22
48
52
89
102
103
Depreciation
2
5
9
18
22
35
47
66
88
94
PBT
23
−9
−9
15
49
98
176
365
252
262
Tax %
23%
0%
−43%
23%
24%
21%
22%
20%
23%
—
Net Profit
18
−9
−5
12
37
77
135
288
197
206
EPS (₹)
—
−0.53
−0.3
0.59
1.76
3.41
5.18
10.17
6.89
7.21
Div. Payout %
0%
0%
0%
0%
0%
0%
4%
2%
4%
—

Balance Sheet

₹ Cr
PGEL balance sheet, annual, ₹ crore
Particulars Mar 2011Mar 2012Mar 2013Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
11
16
16
20
21
23
26
28
29
Reserves
35
131
126
173
291
373
1,012
2,800
3,020
Borrowings
68
78
80
185
399
577
435
384
597
Other Liabilities
46
62
65
203
358
536
837
1,910
2,303
Total Liabilities
160
288
288
580
1,069
1,509
2,310
5,123
5,948
Fixed Assets
62
122
123
273
441
578
783
1,136
1,540
CWIP
17
21
22
6
5
2
65
76
312
Investments
0
30
26
0
1
2
6
8
11
Other Assets
80
115
117
301
623
927
1,456
3,902
4,084
Total Assets
160
288
288
580
1,069
1,509
2,310
5,123
5,948

Cash Flow

₹ Cr
PGEL cash flow, annual, ₹ crore
Particulars Mar 2011Mar 2012Mar 2013Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
23
−23
—
57
−79
46
188
−77
70
Investing
−50
−97
—
−44
−161
−173
−401
−1,201
−201
Financing
22
126
—
−17
257
112
234
1,329
82
Net Cash Flow
−5
6
—
−4
16
−15
22
51
−50
Free Cash Flow
−27
−91
—
15
−231
−108
−37
−564
−713
CFO/EBITDA
99
−813
—
113
−103
31
83
−2
37

Ratios

PGEL financial ratios, annual
Particulars Mar 2011Mar 2012Mar 2013Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
28
29
43
76
71
74
74
73
82
Inventory Days
16
45
39
61
118
73
90
122
134
Days Payable
33
67
63
101
111
81
107
127
147
Cash Conversion Cycle
12
7
18
37
78
67
57
68
69
Working Capital Days
−15
−60
34
−10
7
9
35
60
56
ROCE %
—
1%
1%
—
13%
17%
19%
19%
10%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view PG Electroplast insights

62 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 43.20%
  • DIIs 26.59%
  • Public 17.11%
  • FIIs 8.72%
  • Others 4.39%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about PG Electroplast

What does PG Electroplast Ltd do?
PG Electroplast Limited (PGEL) is the flagship company of PG Group. While the PG Group had started its journey in 1977, PG Electroplast was formally set up in 2003 and is a leading, diversified Indian Electronic Manufacturing Service provider.
Where is PG Electroplast Ltd (PGEL) listed?
PG Electroplast Ltd trades as PGEL on the NSE and under code 533581 on the BSE.
Which sector does PG Electroplast Ltd belong to?
PG Electroplast Ltd is classified under the Consumer Goods sector, in the Electronics industry.
What is the PE ratio of PG Electroplast Ltd?
PG Electroplast Ltd trades at a PE ratio of 74.45 as of 4 Nov 2026, on earnings per share of ₹7.21, against a book value of ₹109.77 per share.
What is the 52-week high and low of PG Electroplast Ltd?
Over the last 52 weeks PG Electroplast Ltd has traded between ₹436.55 and ₹644.4 as of 4 Nov 2026.
Does PG Electroplast Ltd pay dividends?
PG Electroplast Ltd has a dividend yield of 0.05%.
What is the Return on Equity (ROE) of PG Electroplast Ltd?
PG Electroplast Ltd reported a return on equity of 6.70%. Its debt-to-equity ratio is 0.20.

Company Information

PG Electroplast Limited (PGEL) is the flagship company of PG Group. While the PG Group had started its journey in 1977, PG Electroplast was formally set up in 2003 and is a leading, diversified Indian Electronic Manufacturing Service provider. It specializes in Original Design Manufacturing (ODM), Original Equipment Manufacturing (OEM) and Plastic Injection Molding, catering to 50+ leading Indian and Global brands.

Website pgel.in
CEO Mr. Anurag Gupta
Employees 1,844
Listed 26 Sep 2011
Face Value ₹1

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/PGEL.md for PG Electroplast Ltd: dated key facts, then this page's sections in order: latest price, key fundamentals, peer comparison, the Tapetide Score, technical indicators, analyst ratings, growth rates, analyst forecasts, the AI analysis and news digest (labelled as AI-generated), financial statements, shareholding pattern, documents and the FAQ.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our Indian stock market MCP server.

Explore More

More Consumer Durables stocks → FII DII DataStock ScreenerNifty 50 HeatmapF&O Ban ListFII and DII flows, month by monthHow Tapetide Scores changed, month by monthStocks mutual funds are buying, month by month