PG Electroplast stock jumps 5% on ₹1,000 crore deal with Maharashtra govt

PG Electroplast's subsidiary, Next Generation Manufacturers, entered into a Memorandum of Understanding (MoU) with the Government of Maharashtra

PG Electroplast share price today: Shares of PG Electroplast, an Electronic Manufacturing Service provider, jumped around 5 per cent to hit an intraday high of ₹559.4 on the NSE. The movement came after the company's subsidiary, Next Generation Manufacturers, entered into a Memorandum of Understanding (MoU) with the Government of Maharashtra.

 

At 02:00 PM, the company's share price was trading 3.9 per cent higher at ₹553.85 per share on the NSE. In comparison, NSE Nifty50 was up 0.72 per cent at 24,601 levels. The market capitalisation of the company stood at ₹15,687.4 crore. The stock has recovered over 14 per cent from the 52-week low of ₹465 touched on August 14, 2025.

 

 

The agreement involves setting up a ₹1,000 crore greenfield consumer electronics plant at Kamargaon in Ahilyanagar. The project is part of the state's Magnetic Maharashtra initiative and aims to develop integrated manufacturing capacities for air conditioners, washing machines, refrigerators, and related products. 

 

According to the exchange filing, the project is expected to create over 5,000 direct and indirect employment opportunities in Maharashtra.   Check: Vikran Engineering IPO Allotment Status

PG Electroplast Q1FY25 results

In the June 2025 quarter (Q1FY26), the company reported revenue from operations of ₹1,503.85 crore, up 13.9 per cent from ₹1,320.68 crore in the year-ago period. Its earnings before interest, tax, depreciation and amortisation (Ebitda) grew 3.5 per cent year-on-year (Y-o-Y) to ₹139.42 crore from ₹134.54 crore. However, Ebitda margin contracted to 9.3 per cent from 10.2 per cent in the year-ago period. 

 

PG Electroplast fell over 21 per cent to ₹66.71 crore in Q1Y25 from ₹84.93 crore in the year-ago period. The company said Q1FY26 was a challenging start to the year, marked by softer seasonal demand as an early monsoon curtailed the Room AC season, leading to lower-than-expected performance for the AC business.

Geojit Investments on PG Electroplast 

Analysts at Geojit Investments expect the long-term outlook to remain intact, and the current underperformance in the stock prices is due to a temporary headwind owing to the abrupt end of the RAC season. 

 

"The stock is currently trading at its 3-year average 1-year forward P/E of 42x, and we expect most of the negatives are factored into the price," the brokerage said in a recent note.

 

Geojit has assigned a 'Buy' rating to the stock with a revised target price of ₹623, based on A P/E of 40x on FY2E EPS.