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PG Electroplast Ltd (PGEL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533581 NSE: PGEL Consumer Durables - Domestic Appliances | Small Cap | PG Electroplast Share Price
₹544.65 1.65 (0.30%)
As on 11-Sep'26 16:59
PG Electroplast Ltd (PGEL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533581 NSE: PGEL Consumer Durables - Domestic Appliances | Small Cap | PG Electroplast Share Price
₹544.65 1.65 (0.30%)
As on 11-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹15,618 Cr.
Current Price
₹544.7
52-Week Low / High
₹437 / 645
TTM EPS
₹7.2
TTM Sales
₹5,818 Cr.
Book Value per Share
₹107.9
P/E Ratio
75.89
Lower than its 5-year historical median
Industry PE
49
Price to Book (P/B)
5.05
Lower than its 5-year historical median
Price to Sales (P/S)
2.68
Lower than its 5-year historical median
EV/EBITDA
34.30
Lower than its 5-year historical median
Dividend Yield
0.05%
Profitability Efficiency
Return on Equity (ROE)
6.66%
Underperforms industry median
Return on Capital Employed (ROCE)
10.59%
Underperforms industry median
Return on Assets (ROA)
3.46%
Operating Profit Margin
8.1%
Net Profit Margin
3.66%
Gross Profit Margin
6.4%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-3.53%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-16.98%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-33.45%
Asset Quality
Promoter Holding
43.37%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹3,065 Cr.
Equity
₹28.7 Cr.
Face Value
₹1
All Time Low / High
₹2.62 / 1054.95
Check Before You Invest
Quality
Not GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Weak
Is PG Electroplast Ltd a good quality company?
PG Electroplast Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does PG Electroplast Ltd performance compare with that of its Peers?
Revenue growth of PG Electroplast Ltd vs industry peers?
PG Electroplast Ltd revenue CAGR is 15.32%, compared to the industry median CAGR of 10.35%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of PG Electroplast Ltd?
Promoters hold 43.37% of the PG Electroplast Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of PG Electroplast Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 42.4% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
PG Electroplast Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 6.1% | 7.3% | 7.3% | 7.3% | 9.1% | 13.2% | 14% | 15.5% | 6.9% | 6.6% | - |
| Value Creation Index ⓘ | -0.6 | -0.5 | -0.5 | -0.5 | -0.4 | -0.1 | -0 | 0.1 | -0.4 | -0.5 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 366 | 399 | 508 | 639 | 703 | 1,036 | 1,331 | 1,418 | 1,487 | 1,434 | 1,531 |
| Sales YoY Gr. | - | 9% | 27.3% | 25.8% | 10% | 47.3% | 28.5% | 6.5% | 4.9% | -3.5% | - |
| Adj EPS ⓘ | 0.2 | 0.5 | 0.5 | 0.2 | 0.6 | 1.5 | 2 | 3 | 2.9 | 4.5 | 3.8 |
| YoY Gr. | - | 125% | 17.8% | -62.3% | 205% | 144.3% | 35.6% | 46.5% | -0.7% | 53.1% | - |
| BVPS (₹) ⓘ | 7.5 | 8 | 9.1 | 9 | 9.7 | 14.4 | 15.6 | 35.6 | 88.4 | 92.8 | 93 |
| Adj Net Profit ⓘ | 3.2 | 7.5 | 10 | 4 | 11.9 | 31.7 | 45.8 | 77 | 83.3 | 129 | 110 |
| Cash Flow from Ops. ⓘ | 6 | 42.4 | 19 | 27.7 | 57.3 | -38.1 | 142 | 181 | 47.2 | 50.6 | - |
| Debt/CF from Ops. ⓘ | 18.7 | 3 | 6.8 | 6.8 | 3.2 | -6.9 | 1.3 | 0.4 | 0.7 | 1.3 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 16.4% | 15.3% | 2.5% | -3.5% | ||||
| Adj EPS ⓘ | 41.3% | 49.1% | 30.6% | 53.1% | ||||
| BVPSⓘ | 32.3% | 57.1% | 81.4% | 5% | ||||
| Share Price | 42.4% | 72.5% | 44.9% | -4.5% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 2.7 | 5.9 | 6.7 | 2.3 | 6.5 | 12.7 | 13.8 | 11.8 | 4.8 | 4.9 | 4.1 |
| Op. Profit Mgn % ⓘ | 5.7 | 6.2 | 6.1 | 5.5 | 6.8 | 7 | 6.8 | 8.4 | 6.7 | 9.7 | 8.4 |
| Net Profit Mgn % ⓘ | 0.9 | 1.9 | 2 | 0.6 | 1.7 | 3.1 | 3.4 | 5.4 | 5.6 | 9 | 7.2 |
| Debt to Equity ⓘ | 0.9 | 1 | 0.8 | 1.1 | 1 | 0.9 | 0.5 | 0.1 | 0 | 0 | - |
| Working Cap Days ⓘ | 132 | 133 | 115 | 114 | 131 | 128 | 106 | 109 | 142 | 155 | 141 |
| Cash Conv. Cycle ⓘ | 50 | 56 | 48 | 50 | 55 | 61 | 51 | 38 | 47 | 64 | 101 |
Valuation of PG Electroplast - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'11 | Mar'12 | Mar'13 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 424 | 222 | 303 | 703 | 1,112 | 2,160 | 2,746 | 4,870 | 5,288 |
| Operating Expenses ⓘ + | 396 | 219 | 298 | 655 | 1,027 | 1,989 | 2,493 | 4,403 | 4,901 |
| Operating Profit ⓘ | 28 | 3 | 5 | 48 | 85 | 171 | 254 | 466 | 387 |
| Operating Profit Margin (%) | 6.6% | 1.1% | 1.6% | 6.8% | 7.7% | 7.9% | 9.2% | 9.6% | 7.3% |
| Other Income ⓘ + | 3 | 4 | 7 | 4 | 8 | 9 | 21 | 53 | 55 |
| Interest ⓘ | 6 | 11 | 11 | 18 | 23 | 48 | 52 | 89 | 102 |
| Depreciation ⓘ | 2 | 5 | 9 | 18 | 22 | 35 | 47 | 66 | 88 |
| Profit Before Tax ⓘ | 23 | -9 | -9 | 15 | 49 | 98 | 176 | 365 | 252 |
| Tax ⓘ | 5 | 0 | -4 | 4 | 12 | 20 | 39 | 74 | 58 |
| Profit After Tax | 18 | -9 | -5 | 12 | 37 | 77 | 137 | 291 | 194 |
| PAT Margin (%) | 4.2% | -3.9% | -1.7% | 1.7% | 3.4% | 3.6% | 5.0% | 6.0% | 3.7% |
| Adjusted EPS (₹) | 1.7 | -0.5 | -0.3 | 0.6 | 1.8 | 3.4 | 5.2 | 10.2 | 6.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0.40% | 2.50% | 3.60% |
| PARTICULARS | Mar'11 | Mar'12 | Mar'13 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 45 | 147 | 143 | 191 | 310 | 391 | 1,020 | 2,799 | 3,018 | ||
| Debt + | 61 | 78 | 80 | 153 | 347 | 485 | 319 | 271 | 456 | ||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Trade Payables | 34 | 35 | 45 | 153 | 269 | 390 | 646 | 1,374 | 1,757 | ||
| Others Liabilities ⓘ | 20 | 27 | 19 | 82 | 143 | 242 | 323 | 740 | 764 | ||
| Total Liabilities ⓘ | 160 | 288 | 287 | 579 | 1,069 | 1,508 | 2,308 | 5,185 | 5,995 | ||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 62 | 122 | 144 | 273 | 441 | 578 | 783 | 1,136 | 1,540 | ||
| CWIP ⓘ | 17 | 21 | 1 | 6 | 5 | 2 | 65 | 76 | 312 | ||
| Investments ⓘ | 0 | 30 | 26 | 0 | 1 | 2 | 6 | 8 | 11 | ||
| Inventories | 17 | 24 | 28 | 93 | 286 | 353 | 543 | 1,316 | 1,601 | ||
| Trade Receivables | 33 | 18 | 35 | 147 | 213 | 438 | 553 | 980 | 1,184 | ||
| Cash Equivalents | 6 | 12 | 5 | 17 | 39 | 40 | 182 | 980 | 389 | ||
| Others Assets ⓘ | 24 | 62 | 49 | 43 | 83 | 95 | 176 | 689 | 957 | ||
| Total Assets ⓘ | 160 | 288 | 287 | 579 | 1,069 | 1,508 | 2,308 | 5,185 | 5,995 | ||
| PARTICULARS | Mar'11 | Mar'12 | Mar'13 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 23 | -23 | 16 | 57 | -79 | 46 | 188 | -77 | 70 |
| Cash Flow From Investing Activity ⓘ + | -50 | -97 | -6 | -44 | -161 | -173 | -401 | -1,201 | -201 |
| Cash Flow From Financing Activity ⓘ + | 22 | 126 | -17 | -17 | 256 | 112 | 234 | 1,329 | 82 |
| Net Cash Flow ⓘ | -5 | 6 | -7 | -4 | 16 | -15 | 22 | 51 | -50 |
| PARTICULARS | Mar'11 | Mar'12 | Mar'13 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 39.93 | -8.97 | -3.45 | 6.97 | 14.95 | 22.1 | 19.42 | 15.23 | 6.66 | |
| ROCE (%) | 25.51 | 1.16 | 0.98 | 11 | 13.47 | 17.8 | 19.53 | 20.03 | 10.59 | |
| Asset Turnover Ratio | 2.8 | 1.04 | 1.11 | 1.62 | 1.35 | 1.68 | 1.44 | 1.3 | 0.96 | |
| PAT to CFO Conversion(x) | 1.28 | N/A | N/A | 4.75 | -2.14 | 0.6 | 1.37 | -0.26 | 0.36 | |
| Working Capital Days | ||||||||||
| Receivable Days | 26.80 | 39.90 | 30.30 | 47.40 | 59.20 | 54.90 | 65.80 | 57.40 | 74 | |
| Inventory Days | 13.60 | 31.90 | 29.50 | 31.30 | 62.10 | 53.90 | 59.50 | 69.60 | 99.70 | |
| Payable Days | 21.80 | 40.50 | 34.30 | 49.30 | 63.50 | 52.80 | 66.60 | 60.50 | 86 | |
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PG Electroplast Ltd FAQs
The current trading price of PG Electroplast on 11-Sep-2026 16:59 is ₹544.6.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of PG Electroplast stood at ₹15,618.2 Cr
The latest P/E ratio of PG Electroplast as of 10-Sep-2026 is 141.9.
The latest P/B ratio of PG Electroplast as of 10-Sep-2026 is 5.86.
The 52-week high of PG Electroplast is ₹644.9 and the 52-week low is ₹436.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of PG Electroplast is ₹1,531 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that PG Electroplast Ltd is a below average quality company.
The key valuation ratios of PG Electroplast Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of PG Electroplast Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About PG Electroplast Ltd
PG Electroplast (PGEL), the flagship entity of the PG Group, is a leading Electronic Manufacturing Service (EMS) provider in India. With a wide-ranging product portfolio and a strong pan-India presence, PGEL operates advanced manufacturing facilities across Greater Noida in Uttar Pradesh, Roorkee in Uttarakhand, Bhiwadi in Rajasthan and Ahmednagar in Maharashtra. PGEL continues to specialise in Original Design Manufacturing (ODM), Original Equipment Manufacturing (OEM) and plastic injection moulding, serving multiple segments of the consumer durables and electronics industries.
It delivers comprehensive end-to-end services across the entire product manufacturing lifecycle including product conceptualization, designing & prototyping, and production & product management services to companies in various industries and end markets. Through its offerings, it empowers its clients to reduce manufacturing costs, deliver new & innovative products within minimum lead time, improve supply-chain management, reduce inventory obsolescence, and reduce product fulfilment time.
Business area of the company
The company is an Electronic Manufacturing Services (EMS) provider for Original Equipment Manufacturers (OEMs) of consumer electronic products in India. The company manufactures and / or assemble a comprehensive range of consumer electronic components and finished products such as Kitchen Appliances, air conditioners (ACs) subassemblies, Air Cooler, Washing Machine, Mobile handsets, LED for third parties.
Key manufacturing capabilities
- Product Assemblies
- Plastic Moulding
- Sheet Metal Components
- PCB Assemblies
- Specialised AC Components
- PU and Powder Paint shops
- Tool Manufacturing
Milestones
- 1977: PG Group starts as a small electronic components unit in Delhi.
- 1981: Established the first manufacturing facility in Greater Noida.
- 1989: Transitioned from supplying parts to assembling televisions.
- 1995: Set up a dedicated plant in Greater Noida for black-and-white TVs.
- 1997: Began manufacturing colour televisions and audio products.
- 1999: PCB Assembly Line established in Greater Noida to strengthen backward integration.
- 2003: PG Electroplast, the flagship company was incorporated, and the group entered electronics and plastics.
- 2008: Government Tender - Secured a Tamil Nadu order to supply 2.5 million colour TVs.
- 2009: Diversified into energy-efficient CFL lighting.
- 2010: Automotive Components - Expanded into manufacturing parts for leading OEMs.
- 2011: Pune Plant - Opened a state-of-the-art plastic injection moulding facility.
- 2012: Greater Noida Expansion - Added a new injection moulding unit to boost capacity.
- 2014: Entering Appliances - Launched air coolers and set up a motor plant.
- 2015: Set-Top Boxes - Assembly operations started for leading brands.
- 2016: Tooling Division - Created new capacity to meet customer demand.
- 2017: SAWM Entry - Introduced semi-automatic washing machines; strengthened processes.
- 2018: AC Indoor Units - Commissioned IDU assembly lines; added PU paint shop and UF seats.
- 2019: Product Expansion - Rolled out the second SAWM model; established a corporate product room.
- 2020: AC IDU with Heat Exchangers - Commissioned indoor unit assembly with integrated coil capability.
- 2021: ODU and FATL Launch - Added outdoor unit capacity and launched fully automatic top-load washing machines; introduced ODM air coolers.
- 2022: New Product Platforms - Launched new SAWM and FATL platforms, four ODM AC platforms, and entered LED TVs; secured PLI approval.
- 2023: Window ACs and Scale Up - Introduced window ACs and doubled capacity across ACs, washing machines, and air coolers; expanded ODM portfolio.
- 2024: Bhiwadi Facility and NGM Acquisition - Commissioned a state-of-the-art AC plant at Bhiwadi and acquired Next Generation Manufacturers (NGM) to strengthen Western India footprint.
- 2025: Market Leadership in AC ODM - Became India’s largest ODM for room air conditioners, consolidating leadership in core product verticals.
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