PG Electroplast Limited, a leading player in the electronics and consumer products industry, has released its unaudited financial results for the quarter and nine months ending December 31, 2024. The Board of Directors approved the financial statements at their meeting held today.
For the quarter ended December 31, 2024, the company reported a revenue from operations of ₹96,769.3 Lakhs, a significant increase compared to ₹67,129.41 Lakhs in the same period last year. The total income for the quarter stood at ₹97,489.02 Lakhs, up from ₹67,495.56 Lakhs in Q3 2023.
The nine-month period ending December 31, 2024 also showed robust performance, with a revenue of ₹295,967.19 Lakhs, marking an increase from ₹251,666.47 Lakhs in the same period last year. Total income for the nine months reached ₹297,491.68 Lakhs, compared to ₹259,255.13 Lakhs in 2023.
The company’s net profit for Q3 2024 was ₹2,394.41 Lakhs, a substantial growth from ₹1,956.16 Lakhs in the previous quarter. For the nine-month period, net profit increased to ₹6,189.72 Lakhs from ₹5,369.25 Lakhs in 2023.
PG Electroplast’s performance was driven by strong growth in sales and efficient cost management. The company reported a total expense of ₹81,208.94 Lakhs for Q3, up from ₹70,362.51 Lakhs in the previous quarter. The increase in expenses was attributed to higher raw material costs and operational expansion.
In addition to the strong financial results, the company also reported an increase in earnings per share (EPS), which reached ₹0.09 for Q3 2024 and ₹0.23 for the nine-month period.
The Board of Directors has also approved a stock split, reducing the face value of each share from ₹10 to ₹1, effective from July 10, 2024, in accordance with Indian Accounting Standard (Ind AS) 33, “Earnings per Share.”
PG Electroplast is also expanding its operations and invested in enhancing its capabilities, including utilizing the funds raised through its recent equity offering in December 2024. The company’s equity shares were subdivided, and it raised approximately ₹548,464.91 Lakhs, which will be used to further strengthen its business model and expand its market reach.
The auditors, S S Kothari Mehta & Co. LLP, reviewed the financial statements, confirming that they were prepared in compliance with the applicable Indian Accounting Standards and listing regulations.
The company’s management is confident that its continued investment in technology, along with its strategic initiatives, will drive sustained growth and profitability in the coming quarters.
