Pg Electroplast Limited · NSE:PGEL
Pg Electroplast — Q3 FY2024 Earnings Presentation
26 slides from Pg Electroplast's earnings presentation, Feb 13, 2024
Slide 1: Exchange filing cover letter for investor presentation
February 13, 2024 To, To, The Manager (Listing) The Manager (Listing) BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (East), Mumbai - 400 051 Scrip Code: 533581 Scrip Symbol: PGEL Sub: Inve
Slide 2: PG Electroplast Company Update 3Q FY2024
PG Electroplast Company Update 3Q FY2024 Feb 2024 1
Slide 3: Disclaimer
Disclaimer This presentation has been prepared for informational purposes only. This Presentation does not constitute a prospectus, Offering circular or offering memorandum and is not an offer or initiation to buy or sell any securities, nor shall part or all of this presentation from the basis of,
Slide 4: Agenda
Introduction Quarterly and Annual Financials Agenda Key Financial Metrics Strategy & Outlook Historical Financials 3
Slide 5: About PG Electroplast Limited
▪ PG Electroplast Limited (PGEL) is the flagship company of PG Group. While the PG Group had started its journey in 1977, PG Electroplast was formally set up in 2003 and is a leading, diversified Indian Electronic Manufacturing Services provider. ▪ PGEL specializes in Original Design Manufacturing (
Slide 6: Our Journey
AC Outdoor Unit Assembly capabilities Our Journey developed. Developed and launched ODM platform for Fully Automatic Washing Machines. Developed and launched ODM platform for Air Coolers. 2022 2021 Achieved highest ever revenues – Crossed Rs 10 billion (Rs 1000 crores) mark Developed and Launched 2
Slide 7: Industries Served
Air Washing LED Air Industries Conditioners Machines Televisions Coolers Served Automotive Bathroom Consumer Components Fittings Electronics 6
Slide 8: Key Financials
• The Company has grown more than 8x in seven years from a revenue of INR 263 crores in 2015-16, to INR 2160 crores in 2022-2023 at a 35% CAGR with the EBITDA Key Financials increasing at a 36% CAGR. • Over the past seven years, the company has done a cumulative Capital Expenditure of over INR 550 C
Slide 9: Our Business Verticals
Our Business Verticals 2500 Products Plastic Moulding Products 10.1 Consumer Durables Plastic 2000 161 • Indoor Units Sanitaryware Electronics Room Air Conditioners • Outdoor Units Automotive Moulds Consumer Electronics 636 Others 1500 Figures in INR Crores 3.8 • Semi-Automatic Electronics Washing T
Slide 10: Key Clients
Key Clients - . e@ @atomberg QO2F awa AYSTIAS Gsmith .O., EEE @ Bajaj Electricals Ltd. GED Olided COMA crompton PW Dakin Flipkart Foxconn GY | Haier | @ Honeywell HYUNDAI JABIL Jaquar HAVELLS Ketviintor KX |] KOHLER. LAVA. @ LG e Lumax™ motherson all orient [FEBENE] —-Refncevigital Seleemp s/SANSU E
Slide 11: Agenda
Introduction Quarterly and Annual Financials Agenda Key Financial Metrics Strategy & Outlook Historical Financials 10
Slide 12: Summary of Consolidated Results
Particulars Q3 Q3 % 9M 9M % (INR Crores) FY2023 FY2024 Change FY2023 FY2024 Change Sales 457.89 530.33 15.8% 1320.92 1665.17 26.1% CORM 371.53 423.80 14.1% 1082.53 1344.21 24.2% % of Sales 81.1% 79.9% 82.0% 80.7% Gross Contribution 86.35 106.53 23.4% 238.39 320.96 34.6% % of Sales 18.9% 20.1% 18.0%
Slide 13: Expenditure Analysis
Expenditure Analysis Particulars Q3 Q3 9M 9M Change % Change % (As a % of Sales) FY2023 FY2024 FY2023 FY2024 Cost of Raw Material (CoRM) 81.1% 79.9% -1.23% 82.0% 80.7% -1.23% Employee Expenses 6.51% 7.45% 0.93% 6.23% 6.68% 0.45% Finance Cost 2.65% 1.83% -0.81% 2.30% 2.16% -0.14% Depreciation & Amort
Slide 14: Balance Sheet
Balance Sheet Particulars (INR Cr.) 31st Dec’22 31st Dec’23 Net Fixed Assets A 517.02 549.03 Right-of-use-Assets B 18.89 38.89 Other Non-current Asset C 63.59 154.17 Cash & Bank Balance D 29.73 163.52 Current Assets Trade Receivables i 248.69 295.76 Particulars (INR Cr.) 31st Dec’22 31st Dec’23 Inve
Slide 15: Key Ratios
Key Ratios Particulars 31st Dec’22 31st Dec’23 Fixed Asset Turns Net Fixed Assets (INR Crores) 535.91 587.92 Sales/Average Net Fixed Assets Fixed Asset Turns 4.21 4.43 Average Receivables Days Receivables (INR Crores) 248.69 295.76 (Average Receivables/Sales) x 365 Average Receivables Days 42.20 39.
Slide 16: Agenda
Introduction Quarterly and Annual Financials Agenda Key Financial Metrics Strategy & Outlook Historical Financials 15
Slide 17: Major Highlights of 9MFY24
• In 9MFY2024, Consolidated Sales grew 26.1% and crossed INR 1665 crores for the company. • The Product business contributed 53.4% of the total revenues in 9MFY24. Room AC business at INR 641 crores grew 29% during the period while the Washing Machines business had a turnover of INR 234 Crores. • PG
Slide 18: Agenda
Introduction Quarterly and Annual Financials Agenda Key Financial Metrics Strategy & Outlook Historical Financials 17
Slide 19: Industry Outlook
Industry Outlook The Rapid rate of urbanization, Low penetration levels, falling Government reforms such as growth of young population with prices of durables and electronics Digital India, Make in India, Power rising income levels is leading to and changing lifestyle of the for all and Jan Dhan-Aad
Slide 20: Future Growth Strategy
Future Growth Strategy • Washing Machines Company foresees large • Room Air conditioner opportunities in plastic • Refrigerators moulding in consumer durables in appliances like: • Ceiling Fans • Sanitaryware products • Air coolers Opportunities in the ODM • Washing machines space for products like:
Slide 21: Future Outlook
Gradual improvement in margins due to better operational efficiencies and Future Outlook higher operating leverage Improving • Product business to drive profitability and growth for the company higher cash- flows, will lead to better capital • Company is developing new efficiency and stronger balanc
Slide 22: Guidance for Q4FY24
o Consolidated Sales guidance of INR 1075 crores which is a growth of 30% over 4QFY2023. o EBITDA guidance of INR 100 crores which is a growth of 30% over 4QFY2023 EBITDA of INR 77 crores. o In 4QFY2024, operating margins across segments Guidance for should see stability but mix change may limit ove
Slide 23: Agenda
Introduction Quarterly and Annual Financials Agenda Key Financial Metrics Strategy & Outlook Historical Financials 22
Slide 24: Profit & Loss Statement
Profit & Loss Statement Figures in ₹ million FY17 FY18 FY19 FY20 FY21 FY22 FY23 Net Revenues 3,695 4,047 5,116 6,419 7,058 11,159 21,643 Growth (%) 40.24% 9.53% 26.41% 25.47% 9.95% 58.10% 93.95% Expenditure 3,456 3,749 4,777 5,993 6,534 10,232 19,835 Increase/Decrease in Stock 19 (109) (41) (70) 32
Slide 25: Balance Sheet
Balance Sheet (Figures in ₹ million) As on 31st March As on 31st March A. EQUITY AND B. ASSETS LIABILITIES 2017 2018 2019 2020 2021 2022 2023 2017 2018 2019 2020 2021 2022 2023 (a) Share capital 164 164 187 195 197 212 227 (a) Fixed assets 1,620 1,785 1,921 2,532 2,731 4,410 5,778 (b) Capital Work i
Slide 26: Thank You!
Thank You! We look forward to working with you!