PG Electroplast Limited reported a 56.2% decline in consolidated net profit to Rs 64.20 crore for the quarter ended March 31, 2026, from Rs 146.39 crore in the same period last year. Revenue fell 10.1% year-on-year to Rs 1,716.68 crore. EBITDA declined 43.2% to Rs 131.54 crore from Rs 231.72 crore in 4QFY25.
For the full fiscal year FY26, PG Electroplast's revenue rose 8.6% to Rs 5,288.02 crore. Net profit fell 33.5% to Rs 193.60 crore from Rs 290.92 crore in FY25. EBITDA declined 14.9% to Rs 441.76 crore from Rs 519.16 crore.
PG Electroplast attributed the weak quarterly performance to multiple headwinds affecting the Room AC industry. An early monsoon disrupted peak-season demand, the August GST cut announcement deferred purchases, and BEE rating transition triggered channel inventory adjustments. Commercial LPG shortages arising from the Gulf conflict disrupted Room AC production by nearly Rs 300 crore, while truck availability challenges caused an estimated sales loss of nearly Rs 120 crore.
PG Electroplast estimated an aggregate revenue loss of approximately Rs 420 crore during the quarter, with a PBT impact of nearly Rs 60 crore from production and logistics disruptions. PG Electroplast also reported a forex loss of Rs 38.77 crore in FY26 compared with a gain of Rs 17.99 crore in the prior year, driven by the sharp depreciation of the rupee in March.
Within the product portfolio, Room AC revenue declined 12% year-on-year to Rs 1,210 crore, while washing machines grew 70% year-on-year and coolers declined 10.8%. The electronics business contributed 6.8% of total quarterly revenue. Goodworth Electronics, the joint venture, reported revenue of Rs 155.1 crore compared with Rs 107.6 crore in 4QFY25, with EBITDA improving to Rs 6.19 crore from Rs 0.94 crore.
PG Electroplast is developing a new refrigerator manufacturing plant in Sri City, targeted for commissioning by 4QFY27, and is setting up a rotary compressor manufacturing facility at Supa with operations expected to commence by 4QFY27.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.