PG Electroplast · forward-looking guidance across the available source record.
Guidance tracker
Management reiterated FY26 sales guidance of ₹5,700-5,800 crore with approximately ₹300 crore profit, implying Q4 needs to deliver ₹1,568-1,668 crore. The company expects strong seasonal Q4 with operating leverage kick-in.
Despite 27% growth in 9MFY26, management guided to 15-20% full-year AC growth, implying moderation in Q4. Guidance assumes summer season normalizes late February-March and channel inventory clears.
Company expects to sustain strong washing machine growth trajectory in Q4 and FY27, driven by semi-automatic outsourcing trends and new fully-automatic top-load platform additions.
Capex breakdown: ₹300 crore for refrigerator facility (Q4FY27 operational), ₹200 crore for washing machine capacity and Greater Noida campus, ₹84 crore for 72-acre Supa land parcel. Most capex contributing in FY26-27.
Operating leverage is expected to return as volumes normalize, input cost pressures moderate, and comprehensive cost management initiatives (SAP implementation, lease rationalization, low-cost automation) take effect.
Following 52% growth in FY26, the washing machine business has strong order book visibility and customer commitments. Management will provide specific numbers after Q1 when seasonal clarity emerges.
New refrigerator manufacturing facility in Shir City (South India) is under construction with an anchor customer already tied up. Expected to contribute meaningfully to revenue from FY28 onward.
Phase 1 capacity of 2 million compressors (expandable to 4M) with anchor customer approval secured. Machinery ordered; installation from August 2026. Targeting >70% utilization in FY28 with profitability in first year.