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PG Electroplast Limited Earnings Release 2020
61393_rns_2020-02-14_72582a4d-6110-4734-99b0-8edd6691678c.pdf
Earnings Release
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Pli ELECTROPLAST LIMITED
CIN-L32109DL2003PLC119416 Corporate Office : P-4/2, 4/3, 4/4, 4/5, 4/6, Site· B, UPSIDC Industrial Area, Surajpur Greater Noida-201306, Distt. Gautam Budh Nagar (-D.P.) India Phones# 91·120·2569323, Fax# 91·120·2569131 E·mail # [email protected] Website# www.pgel.in
February 14, 2020
To, The Manager (Listing) BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001
To, The Manager (Listing) National Stock Exchange of India Limited, Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051
Scrip Code: 533581
By means of BSE Listing Centre
By means of NEAPS
Scrip Symbol: PGEL
Dear Sir,
Sub: Press Release
We enclose a copy of Press Release titled "Beginning of a New Phase" on Un-audited Financial Results of the Company for quarter & nine months ended on December 31, 2019.
This is for your information and record please.
Thanking you,
For PG Electroplast Limited
{Sanchay Dubey) Company Secretary
• Registered Office DTJ-209, Second Floor DLF Tower·B, Jasola New Delhi-110025 Tele· Fax# 011-41421439
Beginning of a New Phase
Delhi (India), February 14, 2020: PG Electroplast Ltd. Pioneer and leader in the Plastic molding and Electronic Manufacturing services announced its results for the quarter and nine months ended December 31, 2019 as approved by its Board of Directors.
"With successful commissioning of Room AC IDU unit at Ahmednagar facility, Our Transformational journey is reaching towards our vision of becoming one-stop solution partner in the field of Plastic Molding and Electronic Manufacturing Services. Our proven capabilities in the tooling, Plastic molding and now full assembly of Products places the company well to partner the best and biggest in the consumer durable & automotive space in India." Said Shri Vishal Gupta, Director of the company
Key Financial Highlights:
Quarter ended Dec. 31, 2019
- o Revenues of Rs. 1.41 billion growth of 30.6% YoY
- o EBITDA of Rs. 76.6 million growth of 34.6% YoY
- o PAT of Rs. 6.1 million versus loss of Rs 3.4 million in Dec. 31, 2018
9M ended Dec. 31, 2019
- o Revenues of Rs 4.58 billion growth of 34.5 % YoY
- o EBITDA of Rs. 277 million growth of 33.4% YoY
- o PAT of Rs 55.3 million growth of 53.6% YoY
Company's revenue mix is moving towards higher value addition
o Product Sales (Coolers, Washing Machines and Room AC IDU ) have reached 20% of the total revenues in 9M FY2020
| Segment | Q-1 | Q-2 | Q-3 | 9M |
|---|---|---|---|---|
| % Mix | % Mix | % Mix | % Mix | |
| Plastic Moulding | 75% | 74% | 63% | 71% |
| Electronics | 5% | 10% | 7% | 8% |
| Mould Mnf. | 1% | 1% | 2% | 1% |
| Product sale | 19% | 15% | 28% | 20% |
| Total | 100% | 100% | 100% | 100% |
o Product Sales (Coolers, Washing Machines and Room AC IDU ) is expected to grow faster and will contribute higher percentage of Revenues going forward
Other Highlights
- o Room AC IDU facility has been commissioned and trial runs completed. Commercial production is ramping up well.
- o Washing machine business of the company has been seeing good opportunities Company plans further investment in the business and is in the process of developing new models for coming season.
- o Significant opportunities emerging in existing and new clients due to competencies developed in last few years.
- o During the quarter, the Board has approved to issue equity shares on preferential basis to promoter and promoter group pursuant to conversion of unsecured loan of upto Rs. 50Mn, thus further strengthening the balance sheet.
Future Outlook
Management sees increased opportunities in the existing and new clients and based on the current business environment. With new capacities and capabilities, company is uniquely positioned in the consumer durable & automotive plastics space in India. In coming quarters, company aspires
- o To have Industry leading growth in the Revenues
- o Gradual improvement in margins due to operational efficiencies and operating leverage
- o Better capital efficiency due to improving cash flows and balance sheet optimisation
About PG Electroplast Ltd.
PG Electroplast [NSE: PGEL & BSE: 533581] is a trusted partner for Plastic Molding and Electronic Manufacturing Services for leading consumer durable and automotive plastic companies in India. Company has one of the biggest capacities in the Plastic Injection molding and has capabilities across the value chain in the Electronic manufacturing services(EMS).
Safe harbour
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
Visit us at www.pgel.in. For more information, contact