Don’t Trade in the Dark—Get Your Pre-Market Report Every Day.Join Now
Search stocks
PG Electroplast Ltd

| Quarterly Financial Results Q3 FY 2025-26

NEUTRAL SENTIMENT

Report Source

⬤2nd Feb 26

Summary : PG Electroplast Limited reported mixed Q3/9M FY26 results with strong consolidated revenue growth but declining consolidated 9M PBT, alongside re-appointments of independent directors and utilization of QIB funds for strategic objectives.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Consolidated Cost of materials consumed (Q3 FY26): Rs. 1,04,115.29 Lakhs.
  2. Consolidated Employee benefits expense (Q3 FY26): Rs. 7,850.02 Lakhs.
  3. Standalone Cost of materials consumed (Q3 FY26): Rs. 24,742.05 Lakhs.
  4. Standalone Employee benefits expense (Q3 FY26): Rs. 2,848.29 Lakhs.
  5. Consolidated Revenue from operations (Q3 FY26): Rs. 1,41,213.02 Lakhs.
  6. Consolidated Revenue from operations (9M FY26): Rs. 3,57,134.67 Lakhs.
  7. Standalone Revenue from operations (Q3 FY26): Rs. 36,748.51 Lakhs.
  8. Standalone Revenue from operations (9M FY26): Rs. 1,07,839.64 Lakhs.
  9. Consolidated Paid up equity share capital (Dec 31, 2025): Rs. 2,853.19 Lakhs.
  10. Consolidated Other Equity (Mar 31, 2025): Rs. 2,79,989.76 Lakhs.
  11. Standalone Paid up equity share capital (Dec 31, 2025): Rs. 2,853.19 Lakhs.
  12. Standalone Other Equity (Mar 31, 2025): Rs. 2,50,299.20 Lakhs.
  13. Includes results of subsidiaries: PG Technoplast Private Limited, PG Plastronics Private Limited, Next Generation Manufacturing Private Limited.
  14. Includes results of joint venture: Goodworth Electronics Private Limited and its subsidiaries.
  15. Includes results of controlled entity: PG Electroplast Limited Employees Welfare Trust.
  16. Both standalone and consolidated unaudited financial results are presented.
  17. Consolidated results include PG Technoplast, PG Plastronics, Next Generation Manufacturing (subsidiaries/step-down subsidiary).
  18. Consolidated results include Goodworth Electronics (joint venture) and its subsidiaries.

Corporate Overview

  1. The Company operates in one 'Reportable Operating Segment' as per IND-AS-108.
  2. Utilized Rs. 20,799.73 lakhs (quarter) and Rs. 1,24,403.11 lakhs (cumulative) from Qualified Institutions Buyers (QIB) funds for the objects of the issue.
  3. Unspent amount of Rs. 23,352.82 lakhs from QIB funds kept in FDRs and bank accounts.

Risk Factors

  1. Consolidated nine-month profit before tax declined.
  2. Standalone revenue performance shows mixed trends.
  3. New labor codes impact employee benefits.
  4. Company operates in a single reportable segment.

Key Drivers

  1. Strong consolidated revenue growth observed.
  2. QIB funds utilized for company objectives.
  3. Independent directors re-appointed for stability.
  4. Standalone profit before tax increased.

Auditor’s Report

  1. The auditors do not express an audit opinion, as it is a review report.
  2. The review report concludes that nothing has come to attention causing belief of material misstatement or non-disclosure.
  3. The conclusion on the statement is not modified in respect of other matters.

Board Commentary

  1. Re-appointment of Mr. Ram Dayal Modi as an Independent Director for a second five-year term from May 26, 2026.
  2. Re-appointment of Mrs. Ruchika Bansal as an Independent Director for a second five-year term from August 14, 2026.
  3. Board reviewed and approved revised policies for Code of Conduct for Prohibition of Insider Trading.
  4. Board reviewed and approved Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information.
  5. Government of India consolidated multiple existing labour legislations into New Labour Codes, impacting employee benefits.
  6. Utilization of QIB funds for the objects of the issue, with unspent amounts in FDRs and bank accounts.

Corporate Governance

  1. Board approved revised Code of Conduct for Prohibition of Insider Trading.
  2. Board approved revised Code of Practices and Procedures for Fair Disclosure of UPSI.
  3. Mr. Ram Dayal Modi is an Independent Director and not related to any other Director.
  4. Mrs. Ruchika Bansal is an Independent Director and not related to any other Director.
  5. Re-appointments of Independent Directors based on Nomination and Remuneration Committee recommendation.

Management Discussion & Analysis

Operational Focus Areas

  1. Allotted 12,43,000 equity shares (cumulative 22,25,000) to 'PG Electroplast Limited Employees Welfare Trust' under ESOP Scheme 2020.

Performance Drivers

  1. Strong consolidated revenue growth for the quarter and nine months ended December 31, 2025.

Risk Control Measures

  1. Impact of New Labour Codes on employee benefits deemed not material for the current period.

Critical Risks

  1. Decline in consolidated profit before tax for the nine months ended December 31, 2025, compared to the previous year.
  2. Mixed standalone revenue performance for the nine months ended December 31, 2025.