Transcript of the Earnings Conference Call

August 12, 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 August 01, 2026, please find enclosed Transcript of the Earnings Conference Call held on August 07, 2026. This is for your information & Records. For PG Electroplast Limited Deepesh Kedia Company Secretary “PG Electroplast Limited Q1 FY’27 Earnings Conference Call” August 07, 2026 MANAGEMENT: MR. VISHAL GUPTA – MANAGING DIRECTOR, FINANCE – PG ELECTROPLAST LIMITED MR. VIKAS GUPTA – MANAGING DIRECTOR OPERATIONS – PG ELECTROPLAST LIMITED MR. PRAMOD GUPTA – CHIEF FINANCIAL OFFICER – PG ELECTROPLAST LIMITED MODERATOR: MR. NIKHIL KANDOI -- AXIS CAPITAL Page 1 of 22 PG Electroplast Limited August 07, 2026 Moderator: Ladies and gentlemen, good day, and welcome to PG Electroplast Q1 FY '27 Earnings Conference Call hosted by Axis Capital. 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 star then zero on your touchtone phone. Please note that this conference is being recorded. 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 security nor shall part or all of this presentation from the basis of to be relied on in a connection with any contract or investment decisions in any securities. 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 the management's opinion are reasonable. The forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial conditions or performance or achievements of the company or industry to differ materially, looking forward statements. I now hand the conference over to Mr. Nikhil Kandoi from Axis Capital. Thank you, and over to you, sir. Nikhil Kandoi: Thank you Abha. Good morning, everyone. On behalf of Axis Capital, I welcome you all to PG Electroplast Q1 FY '27 Earnings Conference Call. Today, we have with us senior management represented by Mr. Vishal Gupta, Managing Director, Finance; Mr. Vikas Gupta, Managing Director, Operations; and Mr. Pramod Gupta, Chief Financial Officer. Without taking much of time, I hand over the floor to the management for the opening remarks, post which we'll open the floor for Q&A. Thank you, and over to you, sir. Vishal Gupta: Thank you, Nikhil, and good morning, everyone. Thank you for joining PG Electroplast Q1 FY '27 Earnings Call. I'm Vishal Gupta, and I'm joined by Mr. Vikas Gupta, our MD, Operations; and Mr. Pramod Gupta, our CFO. We are pleased to start this financial year on a strong note. The season progressed smoothly. Demand played out broadly in line with our expectations, and our teams executed well across the board. Consolidated revenues crossed INR2,000 crores for the first time in the company's history, and the Room AC and Washing Machine verticals posted their highest-ever quarter sales. Growth this year came from a 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 now let Pramodji take you through the numbers in detail, and then I will come back to cover our capacity road map and few operating priorities for this year. Pramodji? Pramod Gupta: Thank you, Vishal ji. Good morning, everyone. As all of you would have seen the numbers, consolidated revenues for the quarter was INR2,034 crores, up 35.2% Y-o-Y. EBITDA came in at INR156.2 crores versus INR139.4 crores last year with a growth of 12.1% and EBITDA Page 2 of 22 PG Electroplast Limited August 07, 2026 margin of 7.7%. Net profit was INR75.3 crores versus INR66.7 crores, which was up 12.9% Y- o-Y. Product business was a key contributor for the growth, and it contributed 80% of sales, growing 40.7% Y-o-Y. Within that, AC grew 38.1% to INR1,401 crores, washing machine grew 67.2% to INR211 crores and coolers grew 3.4% to almost INR19 crores. Electronic business has grown 65.3% Y- o-Y and contributed 5.3% of the revenues. Plastic moulding and component contributed INR294.6 crores and was up 7% Y-o-Y. Our JV, Goodworth Electronics posted sales of INR177.3 crores versus INR147.5 crores last year. And EBITDA for the JV was INR6.3 crores versus INR4.3 crores last year. Our subsidiary, wholly- owned subsidiary, PG Technoplast, reported strong sales of INR1,600 crores for the quarter. On margins, gross margin as a percentage softened both quarter-on-quarter and year-on-year, driven by elevated commodity prices, particularly copper and aluminum, along with the rupee depreciation. I want to be clear on the mechanics here. Product pricing in the industry is typically structured on a per unit margin, not a percentage. So when commodity price rise and we pass through via ASP increases, the same per unit margin show up as a lower percentage of larger revenue base. On a per unit basis, margin remained stable versus last year and commodity cost increases have been partially passed through to the customers. On balance sheet, things are quite healthy. We are a net cash company now. Cash and bank balance stood at INR491.3 crores, and we have a modest debt at the end of 1Q 2027. With this, I will hand it over back to Vishal ji. Vishal ji? Vishal Gupta: Thank you, Pramodji. Let me now cover where things stands on our capacity, along with a couple of other developments for this quarter. First, our flagship Wash Machine Manufacturing facility has come online in a new campus in DMIC, Greater Noida, Uttar Pradesh. It's a state-of-the-art plant, one of the best in the industry with a capacity of 1.8 million washing machines annually. Our fully automatic washing machines business has grown 150% on a Y-o-Y basis in this quarter, and we are launching a brand-new 18 to 20-kilogram range washing machine platform. This will let us go after a higher capacity, higher value segment, which we have not addressed fully before. Secondly, on our refrigerator facility at Sri City in South India, it is progressing well. We are targeting commercial production by quarter 4 of this financial year and with this becoming a meaningful revenue stream for FY '28 onwards. We have also tied up with our anchor customer for this business, and we are already active discussions with other customers also where we are getting some soft commitments from them. This facility will have a capacity of 1.2 million units. And in the first phase, we are starting with direct cool and side-by-side refrigerators. And in the next phase, we'll expand to frost-free and multi-door category of the refrigerators. Page 3 of 22 PG Electroplast Limited August 07, 2026 On the compressor front, this project, which is coming up at Supa is also on track for mass production in this financial year. Things are progressing well. We expect our 2 million capacity line to come online in this financial year as already planned and conveyed. Our new facility in Rajasthan, which is under the subsidiary PG Technoplast has also -- is also becoming online. And given our anticipated gr [Showing first 8,000 characters — download PDF for full document]