India · Delayed Price · Currency is INR PG Electroplast Earnings Call Transcripts
Fiscal Year 2026
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FY26 saw revenue growth but sharp margin and profit declines due to industry-wide demand shocks, cost inflation, and supply disruptions. Strategic CapEx and new facilities position the business for improved growth and profitability in FY27, with normalized inventory and robust washing machine momentum.
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Q3 FY26 delivered robust revenue and profit growth, led by strong AC and washing machine sales, with the company outperforming a declining industry. Management maintained full-year guidance, highlighted ongoing capacity expansions, and addressed margin pressures from inventory and ERP changes.
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Q2 FY26 saw a 2% revenue decline and margin pressure due to high inventory and forex loss, but washing machine sales surged 55%. Guidance for FY26 is maintained, with CapEx focused on diversification and capacity expansion. Inventory normalization and GST changes are expected to improve H2 performance.
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Q1 FY26 saw 14% revenue growth but a drop in net profit due to early monsoon, high inventory, and order cancellations. Revised FY26 guidance reflects margin pressure and delayed CAPEX, but long-term growth and diversification plans remain intact.
Fiscal Year 2025
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FY25 saw operating revenue rise 77% and net profit 112%, led by strong product business growth and capacity expansion. FY26 guidance targets 33% group revenue growth, 39% higher net profit, and major CapEx for new plants, with margins expected to remain stable.
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Q3 FY25 saw operating revenue rise 82% YoY and net profit up 110% YoY, driven by strong growth in room ACs and washing machines. FY25 guidance was raised to INR 5,100 crore in revenue and INR 280 crore net profit, with robust order book and expansion plans on track.