PG Electroplast Ltd

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

PG Electroplast Ltd

₹ 2,005 -1.13%
24 Apr - close price
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

Business Segments
Plastic Molding - The Co specialises in developing small, medium and large sized, high-precision surface critical injection molded components and offers a number of specialized post-moulding operations to meet customer needs. [1]
Product Business - The Co acts as a Original Design Manufacturer (ODM) and Original Equipment Manufacturer (OEM) for washing machines, air conditioners and coolers. The company is Second largest ODM for Room ACs in India and is one of the most backward integrated AC manufacturing plants at a single location in Ahmednagar, Maharashtra. The company is Second largest ODM for Washing Machines in India and has developed 6 platforms for SAWM and 2 platforms for FATL. [2]
Electronics - The Co develops printed circuit board assemblies for a wide range of applications on a turnkey basis (including procurement, assembly, testing, packing & shipping). Today, the principal business in the segment is PCB assemblies for leading TV manufacturers. The company entered the LED TV business in 2022 in JV with Jaina India for Google-certified ODM TVs. It manufactures TVs of sizes ranging from 24” to 70”.[2]
Tool Manufacturing - It develops small to medium size molds for applications in Automotive Applications, White Goods, Home & Kitchen Appliances. [1]
Apart from this, the company has diversified into engineered plastics for sanitaryware, automotive and other specialized applications.[3]

Website BSE NSE
  • Market Cap ₹ 5,212 Cr.
  • Current Price ₹ 2,005
  • High / Low ₹ 2,570 / 1,361
  • Stock P/E 83.6
  • Book Value ₹ 342
  • Dividend Yield 0.00 %
  • ROCE 14.0 %
  • ROE 13.3 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 42.8% CAGR over last 5 years
  • Debtor days have improved from 57.8 to 36.0 days.

Cons

  • Stock is trading at 5.87 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 11.6% over last 3 years.
  • Promoter holding has decreased over last 3 years: -16.3%

* 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
184 330 137 199 268 432 413 338 282 296 307 392 339
169 305 128 186 252 393 394 306 260 277 281 359 309
Operating Profit 15 24 9 13 16 38 19 32 22 20 26 33 30
OPM % 8% 7% 7% 7% 6% 9% 5% 9% 8% 7% 8% 8% 9%
1 -0 0 1 2 3 2 1 1 2 1 4 7
Interest 5 5 4 4 5 6 5 5 5 5 5 6 3
Depreciation 5 5 5 5 5 5 5 5 5 5 5 6 6
Profit before tax 7 14 1 5 8 30 11 23 13 10 16 26 29
Tax % 7% 28% 34% 14% 17% 28% 22% 24% 24% 17% 24% 24% 24%
6 10 1 5 6 21 8 18 10 9 12 20 22
EPS in Rs 3.33 5.30 0.29 2.22 2.98 10.08 3.97 8.20 4.22 3.81 5.42 7.57 8.33
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
222 303 218 239 260 366 399 508 639 703 1,036 1,331 1,334
219 297 221 227 242 346 375 478 600 653 959 1,237 1,225
Operating Profit 2 5 -2 12 18 21 25 31 40 50 77 94 109
OPM % 1% 2% -1% 5% 7% 6% 6% 6% 6% 7% 7% 7% 8%
4 6 5 3 3 3 5 3 0 2 6 4 14
Interest 11 11 12 10 10 10 11 10 15 18 19 21 19
Depreciation 5 9 11 9 10 11 12 13 16 18 20 21 23
Profit before tax -9 -9 -20 -5 2 3 7 10 9 15 44 57 81
Tax % -0% 43% 0% 0% 0% 0% 0% 2% 72% 23% 24% 22%
-9 -5 -20 -5 2 3 7 10 3 12 33 44 62
EPS in Rs -5.25 -3.05 -12.36 -2.77 1.16 2.05 4.56 5.33 1.34 5.90 15.53 19.43 25.13
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 16%
5 Years: 27%
3 Years: 28%
TTM: -9%
Compounded Profit Growth
10 Years: 28%
5 Years: 43%
3 Years: 141%
TTM: 9%
Stock Price CAGR
10 Years: 31%
5 Years: 94%
3 Years: 83%
1 Year: 45%
Return on Equity
10 Years: 5%
5 Years: 9%
3 Years: 12%
Last Year: 13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 16 16 16 16 16 16 16 19 20 20 21 23 26
Reserves 131 126 106 101 103 107 114 150 157 171 286 336 863
93 92 88 90 83 112 129 130 188 185 265 182 105
47 54 73 59 82 95 89 114 136 204 252 189 291
Total Liabilities 288 288 283 267 284 330 348 413 500 580 824 730 1,286
122 144 138 141 146 163 179 193 254 273 274 292 308
CWIP 21 1 2 6 1 3 23 34 5 6 1 2 3
Investments 30 26 25 0 0 0 0 0 0 0 76 78 81
115 117 118 120 137 164 146 187 241 301 473 357 893
Total Assets 288 288 283 267 284 330 348 413 500 580 824 730 1,286

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-23 16 16 -10 21 6 42 19 28 57 -38 142
-97 -14 -2 19 -4 -23 -50 -36 -63 -44 -95 -51
126 -13 -15 -8 -16 19 6 19 43 -17 139 -101
Net Cash Flow 6 -11 -0 0 0 2 -1 2 8 -4 7 -10

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 29 43 83 68 76 67 46 61 58 76 61 36
Inventory Days 45 39 33 66 88 82 70 62 61 61 89 41
Days Payable 67 63 125 84 119 97 77 84 77 101 86 40
Cash Conversion Cycle 7 18 -9 50 44 53 40 40 42 37 64 37
Working Capital Days 21 34 39 57 48 45 31 36 40 40 73 47
ROCE % 1% 1% -4% 3% 6% 6% 7% 7% 8% 9% 13% 14%

Shareholding Pattern

Numbers in percentages

4 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
69.83% 65.83% 65.71% 65.71% 65.71% 65.24% 61.33% 61.33% 61.20% 53.59% 53.59% 53.70%
1.05% 0.95% 1.03% 0.99% 0.98% 2.68% 2.32% 1.97% 3.13% 8.96% 10.77% 11.02%
0.16% 0.00% 0.00% 0.00% 0.00% 1.56% 6.47% 7.17% 7.13% 12.63% 12.36% 10.94%
28.96% 33.22% 33.26% 33.30% 33.31% 30.27% 29.86% 29.53% 28.32% 24.62% 23.27% 24.33%
0.00% 0.00% 0.00% 0.00% 0.00% 0.25% 0.01% 0.01% 0.21% 0.19% 0.01% 0.00%
No. of Shareholders 8,2318,44610,88911,27313,00212,28012,91812,84813,93618,25117,83720,678

* 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.

Click on the line-items to see the names of individual entities.

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