PG Electroplast Ltd. reported a sharp increase in profitability for the September quarter, with net profit rising nearly fivefold year-on-year and earnings before interest, taxes, depreciation and amortisation (EBITDA) climbing 54.8%, supported by strong revenue growth across its business segments.
The electronic manufacturing services (EMS) and plastic moulding company reported net profit of Rs 13.67 crore for the quarter ended September 30, 2026, compared with Rs 2.76 crore in the corresponding quarter last year.
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Revenue for the quarter increased 42.5% year-on-year to Rs 933.88 crore. EBITDA rose to Rs 69.14 crore from Rs 44.68 crore in the year-ago period.
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For the first half of FY27, PG Electroplast reported net sales of Rs 2,967.83 crore, marking a 37.4% increase from the corresponding period last year.
EBITDA rose to Rs 255.37 crore from Rs 184.10 crore in the first half of FY26, while net income increased to Rs 89.88 crore from Rs 69.74 crore.
The company said consolidated half-yearly revenue crossed Rs 2,950 crore for the first time in its history.
Its wholly owned subsidiary, PG Technoplast, reported revenue of Rs 2,130.5 crore during the period, with the company citing a healthy order book across product categories.
The product business contributed 70.3% of PG Electroplast's total revenue in the first half of FY27, growing 41.1% year-on-year.
The air conditioner business recorded 36.2% growth, generating revenue of Rs 1,561.1 crore. The washing machine business grew 60.7% to Rs 504.8 crore, while the air cooler business rose 4.8% to Rs 19.2 crore.
The electronics business expanded 90.3% year-on-year and accounted for 12.1% of total revenue in the first half. Plastic moulding and components contributed Rs 521.6 crore, up 7.5% from a year earlier.
PG Electroplast's 50:50 joint venture, Goodworth Electronics, reported first-half revenue of Rs 623.8 crore, compared with Rs 483.4 crore in the year-ago period. Its EBITDA increased to Rs 22.7 crore from Rs 10.3 crore.
PG Electroplast said work on its capital expenditure plans, including new manufacturing facilities and backward integration, continued during the quarter.
Its new washing machine manufacturing facility at the DMIC campus in Greater Noida, Uttar Pradesh, has become operational. The facility is designed to manufacture 1.8 million washing machines annually.
A new facility for plastic components and coolers at Salarpur, Bhiwadi, is also operational and is expected to begin contributing to revenue from the third quarter of FY27.
The company expects commercial production to begin at two new facilities in the fourth quarter of FY27, while other expansion projects are progressing towards their respective completion timelines.
These include a refrigerator manufacturing campus in Sri City, Andhra Pradesh; an air conditioner compressor plant in Supa, Maharashtra; and a facility for plastic components, tooling and coolers in Salarpur, Rajasthan.
Despite the increase in revenue and earnings, PG Electroplast said its gross contribution as a percentage of revenue softened year-on-year because of elevated commodity prices.
Commenting on the company's progress, Vishal Gupta, Managing Director, Finance at PG Electroplast, said the company continued to advance its manufacturing expansion and backward integration plans.
He said the investments were intended to increase capacity, strengthen operational capabilities and improve control over the supply chain.
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