PG Electroplast Ltd (PGEL) Share Price & Fundamentals

What we do

PG Electroplast Limited is a leading Indian Electronic Manufacturing Services company specializing in plastic injection molding, PCB assembly and OEM/ODM production for consumer electronics and appliances.

Founded in

2,003

Market share

India's largest ODM for room air conditioners and one of the largest manufacturers of washing machines and plastic molded parts.

Problem solved

Providing end-to-end manufacturing solutions enabling consumer electronics and appliance brands to outsource production with high quality and scale.

Top clients or who we serve

Over 70+ Indian and global brands in sectors including air conditioners, washing machines, LED TVs, automotive components, and sanitaryware; B2B focus.

Key management

Anurag Gupta (Chairman), Vikas Gupta (Managing Director - Operations), Vishal Gupta (Managing Director - Finance), with strong leadership and industry expertise.

Our journey and innovations

Founded in 2003, expanded capacity over years, launched new product lines like washing machines and air conditioners, and commissioned multiple advanced manufacturing plants.

Where we operate

India with manufacturing units in Greater Noida, Ahmednagar, Roorkee, Bhiwadi and growing footprint in South India; exports are minimal.

Top products or what we offer

Plastic molded parts, PCB assemblies, room and window air conditioners, washing machines, LED TVs, air coolers assembled via ODM and OEM models.

Top brands

Goodworth Electronics (JV for LED TVs); PG Electroplast’s own ODM offerings for ACs, washing machines, and consumer electronics; largest room AC ODM in India.

Raw materials needed

Plastics, metals (sheet metal components), electronic components for PCB assembly, coatings, and painting materials.

Raw materials supplier

Details not specified; likely a mix of local and global suppliers for plastics and electronic components.

Recurring vs cyclical contribution

Revenue largely recurring through ongoing OEM/ODM manufacturing contracts with marquee brands; cyclical trends linked to consumer durable demand.

Our industry position

Market leader in room air conditioners and washing machine manufacturing in India; strong backward integration and manufacturing scale as moat.

Financial highlights

FY 2024-25 consolidated revenue of INR 4869.5 crores with net profit of INR 287.8 crores; 77% revenue growth year-on-year; strong EBITDA growth and profitability.

Geographical revenue split

Majority of revenues from India (~703 crores as per segment data) with negligible exports (~0.12 crores).

Order book

Strong and growing order book especially in room AC and washing machine segments, underpinning growth trajectory.

Whats driving growth

Rising demand for consumer durables, capacity expansions, new product launches, government initiatives promoting electronics manufacturing, and increased client partnerships.

Our future plans

Capex of INR 700-750 crores for new plants including refrigerator plant in South India, Greater Noida washing machine campus, and expanded AC facilities.

Our green promise

Significant focus on energy conservation via solar power, LED lighting, waste recycling, use of cleaner technologies, and water conservation initiatives.

Our people and values

10,000+ employees; promotes employee stock option schemes; culture of innovation, quality, and sustainability.

Key challenges ahead

Managing rapid capacity expansion, supply chain complexities, input cost volatility, and competition in consumer electronics manufacturing.

Interesting facts

Company grew 18x in 9 years with a 38.5% CAGR; became India's largest room AC ODM by 2025; operates one of India's most backward integrated AC manufacturing units.

Risks and strategy

Risks include market fluctuations and supply risks; mitigated by strong backward integration, diversification, strategic capex and continuous R&D investment.