PG Electroplast Q4FY26 Results: Net Profit Drops 55% to ₹64.9 Crore Despite Strong Sequential Recovery

PG Electroplast Ltd reported a mixed set of earnings for the March quarter of FY26. Revenue improved sequentially. However, profitability took a sharp hit on a year-on-year basis due to margin pressure and higher operating costs. The electronic manufacturing services (EMS) company posted a consolidated net profit of ₹64.86 crore in Q4FY26, down 55.3% from ₹145.2 crore in the corresponding quarter last year.

Revenue from operations came in at ₹1,716.68 crore, rising 21.6% quarter-on-quarter from ₹1,412.13 crore in Q3FY26. However, on a year-on-year basis, revenue declined 10.1%, compared with approximately ₹1,909 crore in Q4FY25.

On the National Stock Exchange, PG Electroplast Ltd’s share price increased by 1.13% to ₹481.45 at 1:29 PM on 27 May 2026.

Margins Under Pressure Despite Sequential Revenue Growth

Operating performance also weakened during the quarter. EBITDA stood at ₹118.76 crore and fell nearly 44% YoY from ₹211.8 crore a year earlier. EBITDA margin narrowed sharply to 6.9%, compared with 11.1% in Q4FY25, a contraction of more than 400 basis points. The margin figure reflects pressure from raw material inflation, weaker operating leverage and increased finance costs.

Profit before tax (PBT) was reported at ₹82.48 crore, down 53.9% YoY. PBDT came at ₹106.20 crore, a decline of 46.2% from the year-ago period. Despite the weak yearly comparison, profitability improved on a sequential basis, with PAT rising 4.7% QoQ from ₹61.96 crore.

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FY26 Performance

For the full financial year FY26, PG Electroplast reported consolidated revenue of ₹5,288 crore, up 8.6% from FY25. However, annual EBITDA declined 14.9% to ₹441.8 crore, while FY26 PAT dropped 33.5% to ₹193.6 crore. EBITDA margin for the full year came in at 8.4%, versus 10.7% in the previous year.

Investors will now closely watch management commentary around the FY27 demand outlook, consumer durable manufacturing volumes, margin recovery and execution in the company’s air-conditioner and electronics manufacturing segments.

Source:

Business Standard