PG Electroplast Ltd

PG Electroplast Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

PG Electroplast Ltd

₹ 857 1.48%
12 Dec 2:17 p.m.
pgel.in BSE: 533581 NSE: PGEL
About

PG Electroplast Limited (PGEL) is the flagship company of PG Group. While the PG Group had started its journey in 1977, PG Electroplast was formally set up in 2003 and is a leading, diversified Indian Electronic Manufacturing Services provider. It specializes in Original Design Manufacturing (ODM), Original Equipment Manufacturing (OEM) and Plastic Injection Molding, catering to 50+ leading Indian and Global brands.[1]

Key Points

Overview
The company specializes in original design manufacturing (ODM), original equipment manufacturing (OEM), and plastic injection moulding. Its WOS, PG Technoplast Pvt Ltd manufactures air conditioners, coolers, and components for various consumer durables. In FY24, it forged a new JV partnership with Goodworth Electronics Ltd, to augment its TV and hardware business. [1]

Website BSE NSE
  • Market Cap ₹ 24,272 Cr.
  • Current Price ₹ 857
  • High / Low ₹ 870 / 146
  • Stock P/E 289
  • Book Value ₹ 38.0
  • Dividend Yield 0.02 %
  • ROCE 15.4 %
  • ROE 12.0 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 51.1% CAGR over last 5 years

Cons

  • Stock is trading at 22.2 times its book value
  • Company has a low return on equity of 12.6% over last 3 years.
  • Promoter holding has decreased over last 3 years: -12.4%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Consumer Durables Industry: Electronics - Components

Part of Nifty Total Market BSE Consumer Discretionary Nifty Microcap 250 BSE Allcap BSE SmallCap

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
199 268 432 413 338 282 296 307 392 339 380 391 383
186 252 393 394 306 260 276 281 359 309 348 363 353
Operating Profit 13 16 38 19 32 22 20 26 33 30 31 28 30
OPM % 7% 6% 9% 5% 9% 8% 7% 8% 8% 9% 8% 7% 8%
1 2 3 2 1 1 2 1 4 7 11 5 6
Interest 4 5 6 5 5 5 5 5 6 3 3 3 3
Depreciation 5 5 5 5 5 5 5 5 6 6 6 6 6
Profit before tax 5 8 30 11 23 13 10 16 26 29 33 24 25
Tax % 14% 17% 28% 22% 24% 24% 17% 24% 24% 24% 26% 24% 23%
5 6 21 8 18 10 9 12 20 22 24 18 20
EPS in Rs 0.22 0.30 1.01 0.40 0.82 0.42 0.38 0.54 0.76 0.83 0.94 0.70 0.75
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
303 218 239 260 366 399 508 639 703 1,036 1,331 1,418 1,493
297 221 227 242 346 375 478 600 653 959 1,237 1,297 1,374
Operating Profit 5 -2 12 18 21 25 31 40 50 77 94 121 119
OPM % 2% -1% 5% 7% 6% 6% 6% 6% 7% 7% 7% 9% 8%
6 5 3 3 3 5 3 0 2 6 4 23 29
Interest 11 12 10 10 10 11 10 15 18 19 21 17 13
Depreciation 9 11 9 10 11 12 13 16 18 20 21 23 25
Profit before tax -9 -20 -5 2 3 7 10 9 15 44 57 104 111
Tax % -43% 0% 0% 0% 0% 0% 2% 72% 23% 24% 22% 25%
-5 -20 -5 2 3 7 10 3 12 33 44 78 84
EPS in Rs -0.30 -1.24 -0.28 0.12 0.20 0.46 0.53 0.13 0.59 1.55 1.94 3.00 3.22
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 7%
Compounded Sales Growth
10 Years: 21%
5 Years: 23%
3 Years: 26%
TTM: 17%
Compounded Profit Growth
10 Years: 20%
5 Years: 51%
3 Years: 87%
TTM: 67%
Stock Price CAGR
10 Years: 58%
5 Years: 195%
3 Years: 134%
1 Year: 265%
Return on Equity
10 Years: 8%
5 Years: 11%
3 Years: 13%
Last Year: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 16 16 16 16 16 16 19 20 20 21 23 26 26
Reserves 126 106 101 103 107 114 150 157 173 287 336 918 968
92 88 90 83 112 129 130 188 185 265 182 87 88
54 73 59 82 95 89 114 136 203 251 185 253 367
Total Liabilities 288 283 267 284 330 348 413 500 580 824 725 1,284 1,449
144 138 141 146 163 179 193 254 273 274 292 312 317
CWIP 1 2 6 1 3 23 34 5 6 1 2 4 2
Investments 26 25 0 0 0 0 0 0 0 76 78 340 350
117 118 120 137 164 146 187 241 301 473 352 628 781
Total Assets 288 283 267 284 330 348 413 500 580 824 725 1,284 1,449

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
16 16 -10 21 6 42 19 28 57 -38 142 181
-14 -2 19 -4 -23 -50 -36 -63 -44 -95 -51 -549
-13 -15 -8 -16 19 6 19 43 -17 139 -101 370
Net Cash Flow -11 -0 0 0 2 -1 2 8 -4 7 -10 2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 43 83 68 76 67 46 61 58 76 61 36 45
Inventory Days 39 33 66 88 82 70 62 61 61 89 41 51
Days Payable 63 125 84 119 97 77 84 77 101 86 40 59
Cash Conversion Cycle 18 -9 50 44 53 40 40 42 37 64 37 38
Working Capital Days 34 39 57 48 45 31 36 40 40 73 47 72
ROCE % 1% -4% 3% 6% 6% 7% 7% 8% 9% 13% 14% 15%

Shareholding Pattern

Numbers in percentages

1 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
65.71% 65.71% 65.71% 65.24% 61.33% 61.33% 61.20% 53.59% 53.59% 53.70% 53.56% 53.42%
1.03% 0.99% 0.98% 2.68% 2.32% 1.97% 3.13% 8.96% 10.77% 11.02% 11.07% 10.69%
0.00% 0.00% 0.00% 1.56% 6.47% 7.17% 7.13% 12.63% 12.36% 10.94% 9.89% 9.80%
33.26% 33.30% 33.31% 30.27% 29.86% 29.53% 28.32% 24.62% 23.27% 24.33% 25.22% 25.91%
0.00% 0.00% 0.00% 0.25% 0.01% 0.01% 0.21% 0.19% 0.01% 0.00% 0.26% 0.19%
No. of Shareholders 10,88911,27313,00212,28012,91812,84813,93618,25117,83720,67835,4921,03,595

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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