AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 21 Sep - PG Electroplast to attend Nuvama Emerging India CEO Forum on September 28, 2026, in Mumbai.
Source: Bse
PG Electroplast Limited (PGEL)
Small CapConsumer stocks · Small cap · NSE
PG Electroplast Limited (PGEL), established in 2003, is a leading, diversified Indian Electronic Manufacturing Services provider. It specializes in ODM, OEM, and Plastic Injection Moulding, offering One Stop Solutions to 70+ brands across 11 manufacturing units. The company pursues organic growth by ramping up capacities and capabilities.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result07 Aug, 02:52 am IST
Score20 Oct, 05:15 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)
Technical timing lens
Trend score and candlestick chart
37BearishSMA20 -8.6% / mo · MACD + · sector -3.7pp vs Nifty 500 (3M)
Stock trend: 38
Sector RS: 36
Sector 3M: -9.3% vs Nifty 500 -5.6%
Consumer FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
PGELD candles · FIT view-7.2%Latest close ₹508.00 on 2026-10-19
Bar
-2.5%
RSI
41
MACD hist
3.40
52W pos
34%
2026-10-19O ₹521.00H ₹522.80L ₹505.30C ₹508.00Vol 8.8L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
PGELNifty Consumer DurablesNifty 500
- PGEL
- -18.2%
- Nifty 500
- -5.6%
- Nifty Consumer Durables
- -9.7%
- Vs Nifty 500
- -12.6 pp
Chart stats
19 Oct 2026- From 52W high
- -21.2%
- 52W range position
- 34%
- ATR (14)
- 3.1%
- Volume vs 20D
- 0.75x
- Avg traded value
- ₹61.5 Cr
- 20D price channel
- ₹476.1 - ₹541.5
₹644.4
₹436.6 - ₹644.4
₹15.7
Latest completed session
20-session average
39.1% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · OVERVALUED30
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average52
Revenue +35.2% · PAT +13.4% YoY
Technical
Bearish37
Price trend and sector-relative-strength timing.
Valuation
Legacy model-111.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence59
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 52/100margin compression · Rev +35% YoY · PAT +13% YoY · +18% QoQ
Filed 06 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹2,034 Cr | +35.2% | +18.5% |
| EBITDA | ₹148 Cr | +22.3% | +24.4% |
| Operating margin | 7.0% | -100 bps | +0 bps |
| PAT | ₹76 Cr | +13.4% | +16.9% |
| PAT margin | 3.7% | -71 bps | -5 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 70.80
- P/B
- 4.75
- EV/EBITDA
- 29.85
- Market Cap
- 14567.00Cr
Profitability
- ROE
- 6.70%
- ROCE
- 10.30%
- ROA
- 3.46%
- Dividend Y
- 0.05%
Growth (CAGR)
- Revenue 5Y
- 50.00%
- EPS 5Y
- 75.00%
- Revenue 3Y
- 35.00%
- EPS 3Y
- 36.00%
Balance Sheet
- Debt/Equity
- 0.20
- Interest Coverage
- 4.02×
- Altman Z
- 5.12
- Book Value
- 107.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 1/5
- OCF
- 70.00 Cr
- EPS TTM
- 7.21
Shareholding
- Promoter Hold
- 43.20%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 34%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 2,034+18.5% vs prev
Net Profit
₹ CrLatest: 76.0+16.9% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 41.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~9.4% over last month) — short-term momentum negative.
- RSI(14) at 41 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 21% off 52W high · 16% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
40
RS percentile
Stage 1 Base / Transition
1M return
-4.0%
3M return
-18.2%
6M return
-10.7%
1Y return
-10.1%
RS 1D
-2
RS 20D
-9
Sector rank
#8
Industry rank
#23
Stage evidence
- Price is within 5.5% of the 30-week proxy.
- The 30-week proxy changed -1.5% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 101.72-1.49%
RS vs Nifty 500102
Valuation & peers
U-Score 30 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 30 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth17/25
Quality0/20
Balance Sheet7/15
Cash Flow1/10
Piotroski
7/9 (+5)
Penalties
0
Raw sum
30
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
30/100 · legacy band OVERVALUED
Positive drivers
- Piotroski is strong at 7/9.
- Growth contributes 17/25 to the score.
- Balance sheet contributes 7/15 to the score.
Main drags
- Fair-value margin of safety is negative at -111.6%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
70.8
PB
4.8
EV/EBITDA
29.9
ROE
6.7%
ROCE
10.3%
FCF Yield
—
Debt/Equity
0.2
MoS
-111.6%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
30
Previous: 30
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-111.6%
Previous: -111.6%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
30
30
30
30
30
30
30
30
30
30
30
30
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹131.75
-285.6% MoS
Growth-justified P/E
33.3
Growth-justified Value
₹240.09
-111.6% MoS
PEG
1.19
Comparable companies
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
BPL
Small
BPL Limited
Consumer Durables
match 78
9
—
-0.5%
—
OVERVALUED
ELIN
Small
Elin Electronics Limited
Consumer Durables
match 70
28
22.9
4.1%
-436%
OVERVALUED
CROMPTON
Small
Crompton Greaves Consumer Electricals Limited
Consumer Durables
match 61
31
28.5
10.6%
-685%
OVERVALUED
AMBER
Small
Amber Enterprises India Limited
Consumer Durables
match 60
23
112.0
6.0%
-619%
OVERVALUED
WHIRLPOOL
Small
Whirlpool of India Limited
Consumer Durables
match 59
21
39.0
7.7%
-572%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-06-16T09:39:41.597Z
Management commentary snapshot
Q4 FY26 operating revenues declined 10.1% YoY to INR 1,716.7 Cr, with EBITDA down 43.2% YoY to INR 131.5 Cr and PAT down 56.1% YoY to INR 64.2 Cr. For FY26, operating revenues grew 8.6% YoY to INR 5,288.0 Cr, but EBITDA fell 14.9% YoY to INR 441.8 Cr and PAT declined 33.5% YoY to INR 193.6 Cr.
While full-year revenue growth was positive, Q4 and FY26 profitability deteriorated significantly due to cost inflation, negative operating leverage, and softer demand. Working capital metrics worsened, leading to a higher cash conversion cycle and a shift to net debt. RoCE and RoE declined sharply, indicating stress on capital efficiency despite management's stated focus on improvement.
Current business mix
Operating Revenue by Vertical (FY26)
Latest issuer-disclosed distribution across 4 reported categories.
Products76.2%
Plastic & Others16.5%
Electronics6.9%
Moulds0.3%
Growth engines
Product Business Growth
INTACTProduct business crossed INR 4,000 Cr, grew 14.3% YoY, contributing 76.2% of total revenues in FY26.
Washing Machines Segment
INTACTWashing Machines business had a growth of 51.5% YoY in FY26.
Room Air Conditioner Segment
INTACTRoom AC business grew 9.3% for full year to INR 3,288 Cr in FY26 despite challenges.
Opportunities in Consumer Durables
INTACTCompany foresees large opportunities in plastic moulding and consumer durables like Washing Machines, Room AC, Refrigerators, Ceiling Fans, Sanitaryware, Air coolers.
Capacity and execution
Bhiwadi AC Unit Operational
INTACTNGM’s Bhiwadi AC Unit became operational during FY26 and contributed to production in 4QFY2026.
Tailwinds
Government Reforms
Government reforms like Digital India, Make in India, Power for all, and Jan Dhan-Aadhar-Mobile Trinity provide impetus to the Consumer appliance and durable Industry.
Demographic & Economic Trends
Rapid urbanization, growth of young population with rising income levels, and an emerging middle class imply huge potential demand for consumer durables.
Low Penetration & Changing Lifestyles
Low penetration levels, falling prices of durables/electronics, and changing Indian consumer lifestyles are expected to remain big demand drivers.
Headwinds
Margin Pressure
UNDER_STRESSOperating margins were under pressure due to cost inflation, higher commodity prices, and negative operating leverage in FY26.
Room AC Business Challenges
UNDER_STRESSFY2026 was challenging for the Room AC business due to softer demand, high commodity inflation, and supply disruption during the peak production period.
Risk radar
Commodity Price Volatility
UNDER_STRESSOperating margins were under pressure due to cost inflation and higher commodity prices.
Working Capital Management
UNDER_STRESSAverage Receivables Days increased to 74.7 and Average Inventory Days to 122.3 in FY26, worsening the Cash Conversion Cycle to 65.7 days.
Demand Fluctuations
UNDER_STRESSThe Room AC business faced challenges from softer demand in FY26.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Q4 results show significant sequential and YoY pressure, indicating immediate challenges. Full-year results provide a broader view of growth and profitability trends, which are crucial for a seasonal consumer durables business.
Sector KPIs management disclosed
Operating Revenues (FY26)
INR 5,288.0 Cr (8.6% YoY growth)
Operating Revenues (Q4 FY26)
INR 1,716.7 Cr (-10.1% YoY decline)
EBITDA Margin (FY26)
UNDER_STRESS8.4% (vs 10.7% in FY25)
EBITDA Margin (Q4 FY26)
UNDER_STRESS7.7% (vs 12.1% in Q4 FY25)
Management forward view
Robust Product Order Book
Order book for product business remains robust, and the company hopes to post strong product business growth in FY2027.
FY27 Priorities
Accelerating building blocks for next level of growth and improving capital efficiency will be major priorities for FY27.
Focus Areas
R&D, New Product Development, and backward integration are focus areas for future across product businesses.
Margin Improvement Outlook
Management expects gradual improvement in margins due to better operational efficiencies and higher operating leverage.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| EBITDA Margin | 8.4% (FY26) | Improvement towards previous levels (10.7% in FY25) driven by operational efficiencies and operating leverage. |
| Cash Conversion Cycle | 65.7 days (FY26) | Reduction through working capital optimisation, as identified by management as a key focus area. |
| Net Debt/EBITDA | 0.3x (FY26) | Decline, indicating improved capital efficiency and stronger balance sheet, aligning with management's priorities. |
| Product Business Growth | 14.3% YoY (FY26) | Continued strong growth in FY27, supported by robust order book and new product development. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
59Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 25th percentile of the scored universe and 26th percentile within Consumer. Main check: results consistency is weak at 41/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
137 docs text-extracted · 41 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
25th percentile
overall median 67 · Consumer: 26th pctile, median 66 · Small: 28th pctile, median 66
Evidence depth
Financial-only
137 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
43
weak · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
50
watch · capital discipline
Results
41
weak · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
Trust risks
- ▸2 latest quarters had PAT decline worse than 25% YoY.
- ▸Only 1 years of positive FCF.
- ▸ROE is low at 6.7%.
- ▸ROCE trend is -5.7%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching PG Electroplast Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Sep - Newspaper Publication regarding Notice of 24th Annual General Meeting.
Source: Bse
Annual report
Business Responsibility and Sustainability Reporting (BRSR) 5 Sep - PG Electroplast filed its FY2025-26 BRSR as part of the annual report.
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 11 Aug - Intimation of Analysts/Investors Meeting - Axis Capital''s India Corporate Day 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 2 Jul - Allotment of Equity Shares pursuant to PG Electroplast Employees Stock Option Scheme - 2020.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Monitoring Agency Report 13 Aug - CRISIL report for June 30, 2026 QIP proceeds shows Rs 1,445.35 crore utilized, Rs 32.21 crore unutilized.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 8 Jun
Source: Bse
Investor presentationMay 2026
May 2026 · PPT
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 30 May - Grant of Options under PG Electroplast Employees Stock Option Scheme - 2020.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 27 May - PGEL reported FY26 revenue of ₹5,288.02 crore and net profit of ₹193.60 crore; Q4 profit fell 56%.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.