PG electroplast - inauguration of New AC manufacturing unit.
PG electroplast - MOU for Room AC manufacturing capacity.
PGEL - Chota Dixon - Good results- 13 cr other income because of subsidy by MH government , CFO negative , working capital has expanded due to Inventory for AC season and some delays in plant ramp-up due to fire accident.
FY 23 Guidance
Chota Dixon - PG electroplast
PG electroplast- Chota Dixon-
-The Washing Machine (WM) and AC Business have seen robust growth, WM business grew 271%, while AC business crossed Rs 250 crores during the quarter.
-Products business remains the focus area and growth driver for the company in coming years.
-The Washing Machine (WM) and AC Business have seen robust growth, WM business grew 271%, while AC business crossed Rs 250 crores during the quarter.
-Products business remains the focus area and growth driver for the company in coming years.
• For FY2023, the company has planned significant Capex towards product development and capacity creation to double its capacity across the products business.
-Order book for product business remains robust and the company is on track to scale the product business significantly
-Order book for product business remains robust and the company is on track to scale the product business significantly
in FY2023.
• During the quarter, operating margins are lower due to mix change and also an accounting policy change of recognizing the forex loss as a part of operational
expense rather than taking it into exceptional loss
• During the quarter, operating margins are lower due to mix change and also an accounting policy change of recognizing the forex loss as a part of operational
expense rather than taking it into exceptional loss
Guidance for 2023
-Maintain Sales guidance of INR 1800 crores which is a
growth of 64% over FY2022 consolidated sales.
-Operating profit guidance of INR 126 crores which is a growth of 69% over FY2022 operating profit of Rs 75.5 crores.
-
-Maintain Sales guidance of INR 1800 crores which is a
growth of 64% over FY2022 consolidated sales.
-Operating profit guidance of INR 126 crores which is a growth of 69% over FY2022 operating profit of Rs 75.5 crores.
-
-Operating margins across segments should see
improvement due to operating leverage but mix change may limit overall improvement in reported margins
- The growth in product business ie WM, RAC and Coolers is expected to be ~120% to over INR 1050 crores from INR478 crores in 22
improvement due to operating leverage but mix change may limit overall improvement in reported margins
- The growth in product business ie WM, RAC and Coolers is expected to be ~120% to over INR 1050 crores from INR478 crores in 22
- Capex for FY2023 will also be in the range of 130-140 crores and Company will double its washing machines capacity, while also expand Room AC (RAC) capacity significantly to 200,000 Indoor Units and 100,000 outdoor units per month,
along with further backward integration
along with further backward integration
by adding the set-up for RAC controllers.
Chota Dixon
PG electroplast
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