Analysts/Institutional Investor Meet/Con. Call Updates

November 04, 2026 To, To, The Manager (Listing) The Manager (Listing) BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai – 400 001 Mumbai - 400 051 Scrip Code: 533581 Scrip Symbol: PGEL Sub.: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 - Transcript of the Earnings Conference Call Dear Sir/Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in reference to our submission dated October 24, 2026, please find enclosed Transcript of the Earnings Conference Call held on October 28, 2026. This is for your information & Records. For PG Electroplast Limited Deepesh Kedia Company Secretary “PG Electroplast Limited Q2 FY27 Earnings Conference Call” October 28, 2026 MANAGEMENT: MR. VISHAL GUPTA – MANAGING DIRECTOR, PG ELECTROPLAST LIMITED MR. PRAMOD GUPTA – CHIEF FINANCIAL OFFIER, PG ELECTROPLAST LIMITED MR. VIKAS GUPTA – MANAGING DIRECTOR, OPERATIONS, PG ELECTROPLAST LIMITED MODERATORS: MR. SHALIN CHOKSY – JM FINANCIAL INSTITUTIONAL SECURITIES Page 1 of 19 PG Electroplast Limited October 28, 2026 Moderator: Ladies and gentlemen, good day and welcome to PG Electroplast Q2 FY27 Earnings Conference Call, hosted by JM Financial Institutional Securities Limited. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing “*”, then “0” on your touch- tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Shalin Choksy from JM Financial Institutional Securities Limited. Thank you and over to you, sir. Shalin Choksy: Thank you. Good morning, everyone. On behalf of JM Financial Institutional Securities, I welcome you all to the Q2 FY27 Earnings Call of PG Electroplast Limited. We have with us the management of the company, represented by Mr. Vishal Gupta - Managing Director and Mr. Pramod Gupta - Chief Financial Officer. Before we start off, a brief disclaimer. This presentation has been prepared for informational purposes only and 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 or to be relied on in any connection with a contract or investment decision. This presentation contains forward-looking statements based on the currently held beliefs of the management of the company which are expressed in good faith and in management's opinion are reasonable. The forward-looking statements may involve known and unknown risks, uncertainty, and other factors which may cause the actual results, financial condition, performance, or achievements of the company or industry to differ materially from those in forward-looking statements. These forward-looking statements represent only the company's current intentions, beliefs, or expectations, and any such statement speaks only as of the date on which it was made. The company assumes no obligation to revise or update any forward-looking statements. With this, I will hand over the call to the management for their opening remarks, post which we can open the floor for questions and answers. Thank you and over to you, Mr. Gupta. Vishal Gupta: Thank you, Shalin and good morning, everyone. Thank you for joining PG Electroplast Q2 FY27 Earnings Call. I am Vishal Gupta – the Managing Director. And I am joined today by Mr. Pramod Gupta, our CFO, and Mr. Vikas Gupta, our Managing Director, Operations is also joining this call. Second quarter has panned out on expected lines and we have seen good secondary sales in the Room AC business for the industry, resulting in a strong order book for us also. Our teams are Page 2 of 19 PG Electroplast Limited October 28, 2026 gearing up for strong execution in the second half of FY27. For the first half of FY27, consolidated revenues crossed Rs. 2,950 crore for the first time in the company's history and the room AC and washing machine verticals posted their highest ever first half sales. Growth in first half came from combination of volume and price. We saw double digit volume growth and a similar quantum of ASP increase as commodity costs and rupee depreciation got passed through to our customers. Our order book remains healthy across all product lines. I will let Pramodji take you through the numbers in detail and then I will come back to cover our capacity roadmap and few other operating priorities for the current financial year. Pramodji! Pramod Gupta: Thank you, Vishalji. Good morning, everyone. Consolidated revenues for the quarter was Rs. 934 crores up 42.5% year-on-year. EBITDA came in at Rs. 69.14 crores versus Rs. 44.68 crores last year, growth of 54.8% with EBITDA margin of 7.4%. Net income was Rs. 13.67 crores versus Rs. 2.76 crores last financial year in the same quarter. For first half, product business has contributed 70.3% of sales revenue, growing 41.1% year-on- year. Within that, AC business saw growth of 36.2% to Rs. 1,561 crores. Washing machines crossed Rs. 500 crores of sales and grew 60.7% for the first half. Cooler was muted at about 4.8% growth and contributed Rs. 19.3 crores. Electronic business has seen a very sharp growth of 90.3% and contributed 12% of revenues for the first half. Plastic molding and components contributed Rs. 521.6 crores and was up 7.5% year-on-year. Our JV Goodworth Electronics posted revenues of Rs. 623.8 crores in the first half versus Rs. 483.4 crores last year. EBITDA stood at Rs. 22.7 crores versus Rs. 10.3 crores last year. Our subsidiary PG Technoplast, which is obviously a part of consolidated sales which I told above, reported Rs. 2,130 crores in sales this year in the first half. On margin, I want to clarify once again that gross contribution as a percentage has softened on a year-on-year basis, largely because of the pass-through of the commodity prices, particularly copper, aluminum, plastic, etc., along with the rupee depreciation. And as you all know, on a per-unit basis, margin remains stable and we get a fixed amount on a per-unit basis and not the percentage margin for doing the contract manufacturing. On balance sheet, things remain quite healthy. Cash and bank balance stood at Rs. 422.5 crores and most of the CAPEX for this year is already paid for. Basically, CAPEX payments that are not in gross fixed are either in CWIP or advances to suppliers. With this, I will now hand it over back to Vishalji. Vishal Gupta: Thanks, Pramodji. Let me cover some business outlook and our strategy along with a couple of other developments for this quarter. Page 3 of 19 PG Electroplast Limited October 28, 2026 Post our flagship washing machine manufacturing facility that came online in new campus in DMIC, Greater Noida, Uttar Pradesh last quarter. Our new campus at Salarpur, Bhiwadi is now operational and we are consolidating operations by relocating some of our Greater Noida operations to this new facility. This facility will have coolers, sanitaryware, plastic components and mold making facilities. Second, our refrigerator facility at Sri City in South India is progressing well. We are targeting commercial production as earlier committed in the last quarter of current financial year with this becoming a meaningful revenue contributor for FY '28. We have already tied up with our anchor customers and we are in active discussions with other customers as well with some soft commitments already in place. The facility will have a capacity of 1.2 million units and will start in Phase-1 with direct cool and side-by-side refrigerators and add frost-free and multi-door in Phase-2. On compressors, also the project at Supa is on track for mass p [Showing first 8,000 characters — download PDF for full document]