PG Electroplast shares surged 7% to ₹536.80 on Wednesday, October 28, following the company's exceptional Q2 FY27 results that showed a fourfold jump in consolidated net profit to ₹14 crore from ₹3 crore in the same period last year. According to latest reports, the Noida-based consumer electronics company delivered impressive September quarter performance with revenue from operations rising 43% to ₹934 crore from ₹655 crore year-on-year. The company's operating profit (EBITDA) increased to ₹60 crore compared to ₹30 crore in Q2 FY26, with EBITDA margins expanding to 6.4% from 4.5% in the corresponding quarter of the previous fiscal year. For the first half of FY27, PG Electroplast achieved a milestone by crossing ₹2,950 crore in consolidated revenue for the first time in company history.
The company's diversified product portfolio demonstrated robust growth across multiple segments during H1 FY27. As reported by latest data, the product business contributed 70% of total revenue in H1 FY27, registering 41% year-on-year growth. The air conditioner business grew 36% YoY to ₹1,561 crore, while the washing machine business increased 60.7% to ₹504.8 crore. The electronics business showed exceptional performance with 90.3% YoY growth and contributed 12.1% of total revenue in H1 FY27. The plastic molding and components business grew 7.5% YoY to ₹521.6 crore during the period. Subsidiary PG Technoplast reported ₹2,130.5 crore in revenue with a healthy order book across all product categories.
Despite strong operational performance, PG Electroplast faced working capital challenges during the quarter. According to latest reports, trade payables surged 57% to ₹1,226 crore, while average payable days increased from 50.48 to 71.69. However, the company's balance sheet remains healthy with over ₹422 crore in cash and cash equivalents at the end of H1 FY27, as reported by the company. Advances for all capex are completed, and most working capital requirements are tied up for H2 FY27. The company noted that gross contribution as a percentage softened YoY due to elevated commodity prices, with raw material cost increases being fully passed through to customers. Higher commodity prices impacted gross margins, which fell 370 basis points to 17.8%.
PG Electroplast continues to make progress on its expansion strategy with all expansion projects tracking their respective completion timelines. As reported by the company, the firm expects to start commercial production from two new facilities in Q4 FY27. Managing Director—Finance Vishal Gupta commented that the company continued to make progress on capex plans for new manufacturing facilities and backward integration, forming an important part of their long-term strategy to expand capacity and build greater supply chain control. The company indicated that its product business will drive future growth, with new offerings being developed in focus segments for upcoming quarters, positioning PG Electroplast for sustained growth despite current working capital pressures.
PG Electroplast shares have shown mixed performance across different timeframes, with the latest rally reflecting investor confidence in the company's strong quarterly results. According to NSE data, the stock has declined 8% from the beginning of the year but gained 5% over the past month. The shares have fallen 5% in the past six months and hit a 52-week high of ₹644.40 on January 5, 2026, and a 52-week low of ₹436.55 on April 6, 2026. As of October 28, 2026, PG Electroplast has a total market capitalisation of ₹15,325.73 crore. The company's focus remains on disciplined execution, prudent capital allocation and aligning investments with long-term business priorities.
