BSE: 533581 | NSE: PGEL | Consumer Durables - Domestic Appliances | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that PG Electroplast Ltd is a below average quality company.
The key valuation ratios of PG Electroplast Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of PG Electroplast Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 2.7% | 5.6% | 6.1% | 7.3% | 7.3% | 7.3% | 9.1% | 13.2% | 14% | 15.5% | - |
| Value Creation Index ⓘ | -0.8 | -0.6 | -0.6 | -0.5 | -0.5 | -0.5 | -0.4 | -0.1 | -0 | 0.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 239 | 260 | 366 | 399 | 508 | 639 | 703 | 1,036 | 1,331 | 1,418 | 1,493 |
| Sales YoY Gr. | - | 9% | 40.8% | 9% | 27.3% | 25.8% | 10% | 47.3% | 28.5% | 6.5% | - |
| Adj EPS ⓘ | -0.3 | 0.1 | 0.2 | 0.5 | 0.5 | 0.2 | 0.6 | 1.5 | 2 | 3 | 3.2 |
| YoY Gr. | - | NA | 66.7% | 125% | 17.8% | -62.3% | 205% | 144.3% | 35.6% | 46.5% | - |
| BVPS (₹) ⓘ | 7.2 | 7.3 | 7.5 | 8 | 9.1 | 9 | 9.7 | 14.4 | 15.6 | 35.6 | 38 |
| Adj Net Profit ⓘ | -4.5 | 1.9 | 3.2 | 7.5 | 10 | 4 | 11.9 | 31.7 | 45.8 | 77 | 84 |
| Cash Flow from Ops. ⓘ | -10.1 | 21.2 | 6 | 42.4 | 19 | 27.7 | 57.3 | -38.1 | 142 | 181 | - |
| Debt/CF from Ops. ⓘ | -8.9 | 3.9 | 18.7 | 3 | 6.8 | 6.8 | 3.2 | -6.9 | 1.3 | 0.4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 21.9% | 22.8% | 26.3% | 6.5% | ||||
| Adj EPS ⓘ | NA | 41.1% | 69.3% | 46.5% | ||||
| BVPSⓘ | 19.5% | 31.5% | 54.3% | 128.5% | ||||
| Share Price | 52.4% | 183.2% | 136.5% | 185.7% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -3.8 | 1.6 | 2.7 | 5.9 | 6.7 | 2.3 | 6.5 | 12.7 | 13.8 | 11.8 | 8.7 |
| Op. Profit Mgn % ⓘ | 4.9 | 7 | 5.7 | 6.2 | 6.1 | 5.5 | 6.8 | 7 | 6.8 | 8.4 | 8 |
| Net Profit Mgn % ⓘ | -1.9 | 0.7 | 0.9 | 1.9 | 2 | 0.6 | 1.7 | 3.1 | 3.4 | 5.4 | 5.6 |
| Debt to Equity ⓘ | 0.8 | 0.7 | 0.9 | 1 | 0.8 | 1.1 | 1 | 0.9 | 0.5 | 0.1 | 0 |
| Working Cap Days ⓘ | 165 | 160 | 132 | 133 | 115 | 114 | 131 | 128 | 106 | 109 | 82 |
| Cash Conv. Cycle ⓘ | 45 | 61 | 50 | 56 | 48 | 50 | 55 | 61 | 51 | 38 | 43 |
Sales growth is growing at healthy rate in last 3 years 26.33%
Net Profit is growing at healthy rate in last 3 years 69.30%
Sales growth is good in last 4 quarters at 18.41%
Return on Equity has declined versus last 3 years average to 8.70%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 3.2 | 7.3 |
| TTM Sales (₹ Cr.) | 1,493 | 3,600 |
| BVPS (₹.) ⓘ | 38 | 43.8 |
| Reserves (₹ Cr.) ⓘ | 968 | 1,119 |
| P/BV ⓘ | 17.79 | 15.43 |
| PE ⓘ | 210.51 | 92.21 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 146.02 / 718.35 |
| All Time Low / High (₹) | 2.62 / 710.30 |
| Market Cap (₹ Cr.) | 17,681 |
| Equity (₹ Cr.) | 26.2 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 67.1 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 239 | 260 | 366 | 399 | 508 | 639 | 703 | 1,036 | 1,331 | 1,418 |
| Operating Expenses ⓘ | 227 | 242 | 346 | 375 | 478 | 604 | 655 | 963 | 1,243 | 1,299 |
| Manufacturing Costs | 14 | 17 | 20 | 19 | 22 | 32 | 33 | 39 | 42 | 48 |
| Material Costs | 184 | 191 | 281 | 309 | 399 | 504 | 557 | 835 | 1,098 | 1,134 |
| Employee Cost | 22 | 26 | 33 | 35 | 40 | 54 | 55 | 70 | 79 | 98 |
| Other Costs ⓘ | 8 | 8 | 12 | 12 | 16 | 15 | 11 | 20 | 23 | 19 |
| Operating Profit ⓘ | 12 | 18 | 21 | 25 | 31 | 35 | 48 | 73 | 88 | 119 |
| Operating Profit Margin (%) | 4.9% | 6.9% | 5.7% | 6.1% | 6.0% | 5.5% | 6.8% | 7.0% | 6.6% | 8.4% |
| Other Income ⓘ | 3 | 3 | 3 | 5 | 3 | 7 | 4 | 10 | 10 | 25 |
| Interest ⓘ | 10 | 10 | 10 | 11 | 10 | 15 | 18 | 19 | 21 | 17 |
| Depreciation ⓘ | 9 | 10 | 11 | 12 | 13 | 16 | 18 | 20 | 21 | 23 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | -2 | -1 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -5 | 2 | 3 | 7 | 10 | 9 | 15 | 44 | 57 | 104 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 0 | 7 | 4 | 11 | 13 | 26 |
| Profit After Tax | -5 | 2 | 3 | 7 | 10 | 3 | 12 | 33 | 44 | 78 |
| PAT Margin (%) | -1.9% | 0.7% | 0.9% | 1.9% | 2.0% | 0.4% | 1.7% | 3.2% | 3.3% | 5.5% |
| Adjusted EPS (₹) | -0.3 | 0.1 | 0.2 | 0.5 | 0.5 | 0.1 | 0.6 | 1.6 | 1.9 | 3.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 1% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 118 | 120 | 123 | 131 | 169 | 176 | 191 | 306 | 354 | 925 |
| Share Capital ⓘ | 16 | 16 | 16 | 16 | 19 | 20 | 20 | 21 | 23 | 26 |
| Reserves ⓘ | 101 | 103 | 107 | 114 | 150 | 157 | 171 | 284 | 331 | 899 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 80 | 76 | 96 | 115 | 118 | 173 | 153 | 237 | 151 | 66 |
| Long Term Debt | 40 | 42 | 48 | 80 | 50 | 69 | 87 | 90 | 85 | 33 |
| Short Term Debt | 41 | 33 | 48 | 36 | 68 | 104 | 66 | 147 | 67 | 33 |
| Trade Payables | 42 | 62 | 74 | 65 | 92 | 106 | 153 | 197 | 122 | 182 |
| Others Liabilities ⓘ | 25 | 26 | 35 | 36 | 32 | 44 | 82 | 83 | 97 | 109 |
| Total Liabilities ⓘ | 266 | 284 | 329 | 347 | 411 | 500 | 579 | 823 | 724 | 1,283 |
Fixed Assets | ||||||||||
| Gross Block | 182 | 197 | 173 | 201 | 228 | 305 | 340 | 358 | 394 | 430 |
| Accumulated Depreciation | 41 | 51 | 10 | 22 | 35 | 51 | 67 | 84 | 101 | 118 |
| Net Fixed Assetsⓘ | 141 | 146 | 162 | 179 | 193 | 254 | 273 | 274 | 292 | 312 |
| CWIP ⓘ | 6 | 1 | 3 | 23 | 34 | 5 | 6 | 1 | 2 | 4 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 76 | 78 | 340 |
| Inventories | 33 | 46 | 63 | 59 | 68 | 85 | 93 | 203 | 124 | 159 |
| Trade Receivables | 44 | 54 | 67 | 51 | 85 | 101 | 147 | 173 | 131 | 174 |
| Cash Equivalents | 0 | 1 | 4 | 4 | 6 | 18 | 17 | 29 | 19 | 116 |
| Others Assetsⓘ | 41 | 36 | 29 | 31 | 25 | 37 | 43 | 67 | 78 | 179 |
| Total Assets ⓘ | 266 | 284 | 329 | 347 | 411 | 500 | 579 | 823 | 724 | 1,283 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -10 | 21 | 6 | 42 | 19 | 28 | 57 | -38 | 142 | 181 |
| PBT ⓘ | -5 | 2 | 3 | 7 | 10 | 9 | 15 | 44 | 57 | 104 |
| Adjustment ⓘ | 18 | 18 | 21 | 21 | 27 | 34 | 39 | 42 | 43 | 30 |
| Changes in Working Capital ⓘ | -28 | 2 | -18 | 13 | -16 | -13 | 2 | -121 | 48 | 67 |
| Tax Paid ⓘ | 4 | -1 | -1 | 0 | -2 | -2 | 1 | -2 | -6 | -19 |
| Cash Flow From Investing Activity ⓘ | 19 | -4 | -23 | -50 | -36 | -63 | -44 | -95 | -51 | -549 |
| Capex | -9 | -9 | -29 | -49 | -36 | -58 | -43 | -4 | -44 | -35 |
| Net Investments | 25 | 2 | 6 | -1 | 0 | -6 | -2 | -83 | -3 | -446 |
| Others ⓘ | 2 | 3 | 0 | 0 | 0 | 1 | 1 | -9 | -4 | -68 |
| Cash Flow From Financing Activityⓘ | -8 | -16 | 19 | 6 | 19 | 43 | -17 | 139 | -101 | 370 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 44 | 3 | 492 |
| Net Proceeds from Borrowing ⓘ | -7 | 0 | 14 | 29 | -3 | 23 | 36 | -2 | -1 | -70 |
| Interest Paid ⓘ | -11 | -10 | -10 | -10 | -10 | -15 | -18 | -20 | -21 | -17 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 9 | -7 | 14 | -12 | 33 | 35 | -39 | 117 | -81 | -35 |
| Net Cash Flow ⓘ | 0 | 0 | 2 | -1 | 2 | 8 | -4 | 7 | -10 | 2 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -3.78 | 1.6 | 2.77 | 5.89 | 6.63 | 1.51 | 6.33 | 13.28 | 13.41 | 12.2 |
| ROCE (%) | 2.71 | 5.63 | 6.06 | 7.34 | 7.34 | 7.25 | 9.07 | 13.23 | 13.99 | 15.47 |
| Asset Turnover Ratio | 0.95 | 1.05 | 1.33 | 1.22 | 1.34 | 1.4 | 1.3 | 1.48 | 1.72 | 1.41 |
| PAT to CFO Conversion(x) | N/A | 10.5 | 2 | 6 | 1.9 | 9.33 | 4.75 | -1.15 | 3.23 | 2.32 | Working Capital Days |
| Receivable Days | 66 | 62 | 54 | 52 | 49 | 53 | 64 | 56 | 42 | 39 |
| Inventory Days | 35 | 50 | 49 | 54 | 46 | 44 | 46 | 52 | 45 | 36 |
| Payable Days | 70 | 66 | 66 | 62 | 56 | 56 | 66 | 56 | 40 | 44 |
PG Electroplast is an Electronic Manufacturing Services (EMS) provider for Original Equipment Manufacturers (OEMs) of consumer electronic products in India. It manufacture and/or assemble a comprehensive range of consumer electronic components and finished products such as colour television (CTV) sets & components, air conditioners (ACs) sub-assemblies, DVD players, water purifiers and Compact Fluorescent Lamps (CFL) for third parties. As backward integration, it also do plastic injection moulding and manufacture Printed Circuit Boards (PCB) assemblies for CTVs, DVD players and CFL. Some of its clients include leading brands in the electronic products market.
It has four operational manufacturing facilities located at Greater Noida in Uttar Pradesh (Unit I and Unit III), at Roorkee in Uttrakhand (Unit II), and at Ahmednagar in Maharshtra (Unit IV). It commenced manufacturing operations at Unit I in Greater Noida facility in FY 2002-03, at Unit II in Roorkee facility in FY 2007-08, at Unit III in Greater Noida in FY 2011-12 and at Unit IV in Ahmednagar in FY 2010-11.
At present, it has a consolidated installed capacity of manufacturing 16,00,000 pieces p.a. of PCB assemblies for CTVs and DVD players; 16,056 tonnes p.a. for plastic injection moulding; 16,05,000 sets p.a. of CTVs; 30,00,000 pieces p.a. of PCB assemblies for CFL; 30,00,000 pieces p.a. of CFL assemblies; and 3,00,000 pieces of DVD players at its manufacturing facilities in Greater Noida (Unit I and Unit III), Roorkee (Unit II) and Ahmednagar (Unit IV).
Business of the company
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