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PG Electroplast Limited
(PGEL)
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Rating:52Neutral
Price Target:
₹542.00
▼(-7.67% Downside)
Action:Reiterated
Date:10/29/26
The score is held back primarily by weak cash-flow quality and recent margin compression despite strong revenue growth and a stronger, lower-leverage balance sheet. Technicals are mixed with a negative MACD, and the high P/E with a very low dividend yield further reduces the risk-adjusted attractiveness.
Positive Factors
Strong Revenue Scale-Up
The substantial multi-year increase in revenue demonstrates that PGEL has scaled its manufacturing platform and captured greater customer program volumes. Continued expansion provides operating leverage potential and a broader base from which the company can build recurring EMS, ODM, and component-related revenue.
Negative Factors
Weak Cash Conversion
The large gap between reported earnings and operating cash generation indicates that profits are not currently converting efficiently into cash. Persistently negative free cash flow can require continued funding for investment or working capital, increasing execution risk until cash conversion improves materially.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Scale-Up
The substantial multi-year increase in revenue demonstrates that PGEL has scaled its manufacturing platform and captured greater customer program volumes. Continued expansion provides operating leverage potential and a broader base from which the company can build recurring EMS, ODM, and component-related revenue.
Read all positive factors
PG Electroplast Limited (PGEL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹153.82B
Dividend Yield0.05%
Average Volume (3M)81.55K
Price to Earnings (P/E)74.3
Beta (1Y)2.26
Revenue Growth21.04%
EPS Growth-15.81%
CountryIN
Employees1,844
SectorGeneral
Sector StrengthN/A
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)7.22
Shares Outstanding286,757,100
10 Day Avg. Volume52,066
30 Day Avg. Volume81,549
Financial Highlights & Ratios
PEG Ratio-1.91
Price to Book (P/B)4.38
Price to Sales (P/S)2.53
P/FCF Ratio-17.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)11.04
Revenue Forecast (FY)₹68.20B
PG Electroplast Limited Business Overview & Revenue Model
Company Description
PG Electroplast Limited provides electronic manufacturing services for original equipment manufacturers in India and internationally. The company manufactures and/or assembles various consumer electronic components and finished products, such as k...
How the Company Makes Money
PGEL makes money primarily by contract manufacturing and related services for OEMs/brands, earning revenue from (1) manufacturing and assembly of finished goods and sub-assemblies, and (2) component/parts supply bundled into customer programs. Its...
PG Electroplast Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 58.18B | 52.88B | 48.70B | 27.46B | 21.60B | 11.12B |
| Gross Profit | 6.37B | 5.47B | 9.60B | 5.30B | 3.95B | 2.27B |
| EBITDA | 4.51B | 4.45B | 4.68B | 2.58B | 1.79B | 908.31M |
| Net Income | 2.06B | 1.97B | 2.88B | 1.35B | 774.69M | 374.15M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 59.47B | 51.21B | 23.08B | 15.08B | 10.69B |
| Cash, Cash Equivalents and Short-Term Investments | 3.89B | 3.89B | 9.80B | 1.55B | 663.86M | 425.10M |
| Total Debt | 0.00 | 5.97B | 3.84B | 4.35B | 5.77B | 3.99B |
| Total Liabilities | -30.49B | 28.98B | 22.93B | 12.70B | 11.12B | 7.56B |
| Stockholders Equity | 30.49B | 30.49B | 28.28B | 10.38B | 3.96B | 3.12B |
Cash Flow | ||||||
| Free Cash Flow | -4.94B | -7.58B | -5.65B | -404.67M | -1.09B | -2.37B |
| Operating Cash Flow | -1.53B | 272.24M | -765.86M | 1.86B | 457.38M | -794.29M |
| Investing Cash Flow | 66.76M | -2.54B | -12.01B | -4.01B | -1.73B | -1.61B |
| Financing Cash Flow | 1.10B | 1.77B | 13.29B | 2.34B | 1.12B | 2.57B |
PG Electroplast Limited Technical Analysis
Negative
587.00
Price Trends
539.08
Negative
553.35
Negative
548.39
Negative
Market Momentum
-12.95
Positive
44.68
Neutral
33.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PGEL, the sentiment is Negative. The current price of 587 is above the 20-day moving average (MA) of 504.46, above the 50-day MA of 539.08, and above the 200-day MA of 548.39, indicating a bearish trend. The MACD of -12.95 indicates Positive momentum. The RSI at 44.68 is Neutral, neither overbought nor oversold. The STOCH value of 33.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:PGEL.
PG Electroplast Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹301.93B | 81.15 | ― | 0.10% | 53.03% | 70.86% | |
63 Neutral | ₹137.19B | 102.22 | ― | ― | 44.38% | 65.57% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹60.64B | 72.15 | ― | ― | -1.51% | 2.80% | |
52 Neutral | ₹153.82B | 74.29 | ― | 0.05% | 21.04% | -15.81% | |
49 Neutral | ₹58.99B | 111.45 | ― | 0.13% | -1.41% | 605.33% | |
47 Neutral | ₹11.18B | -75.11 | ― | 0.93% | 132.73% | -227.63% |
* General Sector Average
IN:PGEL
PG Electroplast Limited
536.40
-38.43
-6.69%
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PG Electroplast Limited Corporate Events
PG Electroplast to Join Axis Capital’s India Corporate Day 2026 in Singapore
Aug 11, 2026
PG Electroplast Limited has announced that its representatives will participate in Axis Capital’s India Corporate Day 2026, a group analyst and investor meeting to be held physically in Singapore on August 19, 2026, between 10:00 a.m. and 5:...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.