The firm's profit before tax climbed 49.37% YoY to Rs 25.98 crore in the quarter ended 31 December 2023.

For Q3 FY24, EBITDA grew 23.1% YoY to Rs 47 crore as against Rs 38.17 crore recorded in same quarer last year.

Total expenses spiked 15.3% to Rs 510.93 crore in Q3 FY24 over Q3 FY23. Cost of material consumed stood at Rs 454.11 crore (up 30.78%YoY), finance cost was at Rs 9.73 crore (down 19.72%YoY) and employee benefit expenses stood at Rs 39.49 crore (up 32.38%YoY).

On outlook front, the consumer electronics maker’s management sees increased opportunities in the existing and new clients and based on the current business environment. With new capacities and capabilities, company is uniquely positioned in the consumer durables & plastics space in India.

In coming years, company aspires to have industry leading growth in revenues; gradual improvement in margins due to operational efficiencies and operating leverage and best in class capital efficiency resulting from improved cash flows & balance sheet optimization.

On guidance front, the company stated a sales guidance of Rs 1,075 crore for Q4 FY24, which will be a growth of 30% YoY and EBITDA guidance of Rs 100 crore, a growth of 30% YoY. The growth in product business i.e., washing machines, room air conditioners and air coolers is expected to be about 40% to Rs 870 crore in the next quarter.

Capex guidance for FY24 for the consolidated entity stands in the range of Rs 170- 180 crore. Further, another Rs 65 crore will be infused by PGTL in NGM in the form of equity and debt to get all incumbrances discharged in NGM.

Meanwhile, the board has approved re-appointment of Vishal Gupta as the managing director – finance and operations for a period of 3 years effective from 1 April 2024.

Vishal Gupta, MD (Finance) said, “The company continues to strengthen its position in RAC, washing machines and consumer electronics with industry leading growth in its areas of focus. We believe our capacity and capability matrix has further strengthened with the commissioning of the new AC facility in Bhiwadi, expanded capacities for AC in Supa and the flagship electronics manufacturing facility in JV in Greater Noida.

The outlook for all business segments remains robust with increases in wallet shares in the existing clients and good momentum in addition of new clients. We continue to execute on the product business strategy by expanding our R&D and product development capabilities.”

PG Electroplast manufactures printed circuit board assemblies, plastic injection mouldings for major consumer durables, specialised AC components, home electricals and kitchen appliances. The company caters to industries such as automotive components, consumer electronics mobile handsets and sanitary ware.