Date: October 27, 2026

Financial Performance Summary

Quarterly Results (Q2 FY2027 ended September 30, 2026)

  • Revenue: ₹933.88 crores, representing 42.5% year-over-year growth
  • EBITDA: ₹69.14 crores, compared to ₹44.68 crores in Q2 FY2026, representing 54.8% year-over-year growth
  • Net Income: ₹13.67 crores, compared to ₹2.76 crores in Q2 FY2026

Half-Yearly Results (1HFY2027 ended September 30, 2026)

  • Net Sales: ₹2,967.83 crores, representing 37.4% year-over-year growth
  • EBITDA: ₹255.37 crores, compared to ₹184.10 crores in 1HFY2026
  • Net Income: ₹89.88 crores, compared to ₹69.74 crores in 1HFY2026

Segment Performance Breakdown (1HFY2027)

Business Segment Contributions:

  • Product Business: Contributed 70.3% of total revenues, growing 41.1% YoY
  • AC Business: ₹1,561.1 crores, growing 36.2% YoY
  • Washing Machines Business: ₹504.8 crores, growing 60.7% YoY
  • Coolers: ₹19.2 crores, growing 4.8% YoY
  • Electronics Business: Grew 90.3% YoY, contributed 12.1% of total revenues
  • Plastic Moulding and Components: ₹521.6 crores, growing 7.5% YoY

Subsidiary and JV Performance:

  • PG Technoplast (100% subsidiary): Reported ₹2,130.5 crores in revenue with healthy order book across all product categories
  • Goodworth Electronics (50:50 JV): Revenue of ₹623.8 crores in 1HFY2027 vs. ₹483.4 crores in 1HFY2026, with EBITDA of ₹22.7 crores vs. ₹10.3 crores YoY

Operational and Strategic Highlights

Capacity Expansion Projects:

  • New Washing Machine Manufacturing Facility: Operational in DMIC, Greater Noida, Uttar Pradesh with capacity to manufacture 1.8 million washing machines per annum
  • New Plastic Component & Coolers Facility: Operational at Salarpur, Bhiwadi, expected to start contributing from Q3 FY2027
  • Upcoming Projects Targeting Q4 FY2027 Commercialization:
  • Refrigerator campus in Sri City, Andhra Pradesh
  • Room air conditioner compressor manufacturing plant in Supa, Maharashtra
  • Facility for plastic components, tooling, and coolers in Salarpur, Rajasthan

Margin and Cost Analysis:

  • Gross Contribution Percentage: Softened year-over-year due to elevated commodity prices
  • Pricing Mechanism: Industry pricing structured on per-unit rupee margin basis, causing mechanical lowering of margin percentage despite stable per-unit economics
  • Cost Pass-through: Raw material cost increases have been fully passed through to customers
  • Expense Control: Focus on controlling expenses in FY2027 is bearing fruit, with commitment to long-term resilience and capital efficiency enhancement

Financial Position and Liquidity

  • Cash and Cash Equivalents: Over ₹422 crores at end of 1HFY2027
  • Capex Funding: Advances for all capex completed
  • Working Capital: Most requirements tied up for 2HFY2027

Management Commentary and Outlook

Vishal Gupta, Managing Director - Finance, stated: "During the quarter, we continued to make progress on our capex plans for new manufacturing facilities and backward integration. These initiatives form an important part of our long-term strategy to expand capacity, strengthen operational capabilities and build greater control over our supply chain."

Strategic Priorities:

  • R&D and new product development
  • Backward integration
  • Capability enhancement
  • Disciplined execution and prudent capital allocation

Future Growth Objectives:

  • Achieve industry-leading revenue growth
  • Drive gradual margin expansion through operational efficiencies and operational leverage
  • Maintain best-in-class capital efficiency through improved cash flows and balance sheet optimization

Market Outlook:

  • Industry witnessed steady growth across product lines
  • Increased opportunities from both existing and new clients
  • Enhanced capacities and technological capabilities position PGEL well in India's consumer durables and plastics ecosystem