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Informist, Monday, Oct. 26, 2026

 

By Priyanka Tanwer

 

NEW DELHI – PG Electroplast Ltd. is expected to report a four-fold increase in its net profit for the September quarter while sales growth is expected to grow at a relatively more sedate rate, according to brokerages tracking the company. The growth is supported by healthy room air-conditioner volumes with a normal channel inventory level, strong gains in washing machine sales, and the commercialisation of the facility at Greater Noida.

 

The company's consolidated net profit for the September quarter is expected at INR 115 million, which is up over four times from the year-ago quarter, according to the average of estimates from five brokerages. However, the profit is seen down 85% sequentially. The highest estimate for net profit is INR 172 million from Equirus Securities Pvt. Ltd. and the lowest estimate is INR 62 million from Nirmal Bang Equities Pvt. Ltd.

 

The company's revenue for the September quarter is expected to rise 32% on year but fall 58% on quarter to INR 8.65 billion, according to the average of estimates. The highest estimate for revenue is INR 8.97 billion from Anand Rathi Share and Stock Brokers Ltd. while the lowest is INR 8.35 billion from Nirmal Bang.

 

PG Electroplast's earnings before interest, taxes, depreciation, and amortisation are likely to be INR 517.5 million, as per the average of four estimates. The highest EBITDA estimate is INR 600 million from JM Financial Institutional Securities Pvt. Ltd., while the lowest estimate is INR 416 million from Nuvama Wealth Management Ltd.

 

PG Electroplast Ltd. will announce its September quarterly results Tuesday. Analysts will look out for the trend of demand for room air-conditioners and channel inventory heading into the next season, trajectory of per-unit margins, progress on mass production of compressors, refrigerator plant commissioning, customer tie-ups, and new customer additions. 

 

Monday, shares of PG Electroplast Ltd. ended 1% up at INR 475 on the National Stock Exchange. The shares are down 25% since the company reported its June quarter results. Five of the six brokerage reports on PG Electroplast Ltd. available with Informist have a "buy" recommendation on the stock, with an average target price of INR 682, which is 43% higher than the current market price. One brokerage has a "hold" recommendation on the stock with a target price of INR 600.

 

Following are the September quarter earnings estimates for PG Electroplast Ltd. from five brokerages, in the descending order of estimate for net profit, in INR million:

 

Brokerages	Net Sales	Net Profit	EBITDA
Equirus Securities Pvt. Ltd.	8,844	172	577
Anand Rathi Share and Stock Brokers Ltd.	8,974	116	N.A.
JM Financial Institutional Securities Pvt. Ltd.	8,570	115	600
Nuvama Wealth Management Ltd.	8,508	109	416
Nirmal Bang Equities Pvt. Ltd.	8,350	62	477
Average	8,649	114.8	517.5

 

End

 

Edited by Biswadip Mitra

 

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