Who are PG Electroplast's main competitors?

Named competitors: Dixon Technologies (DIXON.NS), Amber Enterprises India (AMBER.NS), Voltas (VOLTAS.NS), Havells India (HAVELLS.NS), Syrma SGS Technology (SYRMA.NS). The cockpit's measured peer set (industry) also includes Apollo Micro Systems (APOLLO.NS), Avalon Technologies (AVALON.NS), L&F (066970.KS), Data Patterns (India) (DATAPATTNS.NS), Kaynes Technology India (KAYNES.NS), Syrma SGS Technology (SYRMA.NS).

Is PG Electroplast expensive compared with its peers?

On forward p/e it trades at 49.3× against a peer median of 66.3×, cheapest of 7 in its peer set.

How has PG Electroplast stock performed?

Over six months to 6 Nov 2026 the shares returned +2.0% against +31.5% for the median peer; over one year -4.8%.

← CockpitCompetitor Analysis › PGEL.NS PG ElectroplastOpen in the cockpit ↗

PG ElectroplastPGEL.NSCompetitor analysis, valuation and peers

India · INR·Capital Goods›Electronic Production Equipment

Indian ODM/EMS maker of air conditioners, washing machines and coolers for consumer-durable brands.

≈ An India-focused, appliance-parts contract manufacturerMomentum neutral 54

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$1.65B

US dollars, full cap

Free float

56%

of shares outstanding

$/day

$9.67M

20-day average traded

Fwd P/E

49.3×

forward earnings

ROIC−WACC

-8.4 pp

WACC 15.7%

Hurdle

n/a

no reverse DCF

Next earnings

102 days

16 Feb 2027

Close · INR₹546.15

1D-0.6%

1W+3.0%

1M+4.6%

3M-10.4%

6M+2.0%

YTD-5.1%

1Y-4.8%

ATR %3.5%

Beta1.66

52w lowhigh15.2% off high

What PG Electroplast does

Indian ODM/EMS maker of air conditioners, washing machines and coolers for consumer-durable brands.

Designs and builds appliances that brands sell under their own names, paid per unit, so volume with a set of large brand customers matters more than any brand of its own. Room air conditioners carry the business and bring a summer peak. It is moving into making components itself to keep more of each product's value.

In one line: An India-focused, appliance-parts contract manufacturer.

Products and services

Room air conditioners (ODM)
Washing machines
Air coolers
LED TVs
Plastic moulding & PCB assembly

Customers

Blue Star
Godrej
Whirlpool
Astral
Voltas

Where it sits in the supply chain

Consumer durables manufacturing
ODM/OEM contract manufacturing
Air conditioners, washing machines…

What could go right

India RAC penetration growth from a low base
PLI-linked component manufacturing

What could go wrong

Customer concentration among 60+ brands
Seasonal RAC demand tied to summer weather

Moat: narrow (scale, customer qualification, installed base). Deep design-to-manufacture ties with 60+ durable brands, but still a contract-manufacturing margin business.

Headquarters: Greater Noida, India · Founded: 2003 · Employees: 7,799

Named competitors

PG Electroplast at a glance

Size PG Electroplast (PGEL.NS) is an India Industrials company (Electronic Production Equipment) with a market value of $1.65B, the 425th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹546.15 on 6 Nov 2026.

Performance Over six months the shares gained 2.0%, against +31.5% for the median peer and 0.0% for the India market (cap-weighted) — 4th lowest of 8 in its peer set.

Growth Revenue grew 21.0% over the last twelve months (peer median +44.4%); the operating margin is 5.6% (peer median 9.5%).

Valuation It trades at 49.3× forward earnings against a peer median of 66.3× (cheapest of 7).

Capital Return on invested capital runs 8.4 points below its cost of capital (15.7% WACC).

Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: PG Electroplast against the median of its 8 peers (local-currency closes).

PG Electroplast financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	₹61.0B	₹51.5B	₹48.3B	₹27.3B	₹21.5B
Revenue growth	—	+7%	+77%	+27%	—
Gross profit	₹5.72B	₹3.13B	₹4.44B	₹2.31B	₹1.64B
EBITDA	₹4.44B	₹2.96B	₹4.35B	₹2.40B	₹1.67B
Net income	₹2.17B	₹1.97B	₹2.88B	₹1.35B	₹775M
Free cash flow	n/a	-₹7.58B	-₹6.15B	-₹786M	-₹1.52B
Capital expenditure	n/a	₹7.85B	₹4.88B	₹2.27B	₹1.55B
Total debt	₹7.99B	₹5.97B	₹3.84B	₹4.35B	₹5.77B

Quarterly statements and history in the cockpit →

PG Electroplast competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. PG Electroplast is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. PG Electroplast is the large dot.

PG Electroplast competitors and peer comparison

Head to head with its named competitors (PGEL.NS vs DIXON.NS vs AMBER.NS vs VOLTAS.NS)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
PG Electroplast PGEL.NS	$1.65B	+2%	+21%	6%	49.3×	n/a
Dixon Technologies (India) DIXON.NS	$8.16B	+14%	+21%	2%	76.9×	48.0%
Amber Enterprises India AMBER.NS	$2.39B	-28%	+15%	5%	59.6×	n/a
Voltas VOLTAS.NS	$3.84B	-19%	+4%	4%	50.1×	n/a
Havells India HAVELLS.NS	$7.47B	-11%	+16%	7%	44.0×	39.8%
Syrma SGS Technology SYRMA.NS	$2.97B	+33%	+62%	10%	63.2×	33.7%

How PG Electroplast compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

PG Electroplast against its 8 peers (data as of 6 Nov 2026)
Measure	PGEL.NS	Peer median	Rank in peer set
1-month return	+4.6%	-19.2%	highest of 9
6-month return	+2.0%	+31.5%	4th lowest of 8
Distance from 52-week high	-15.2%	-27.4%	2nd highest of 9
Revenue growth (TTM)	+21.0%	+44.4%	2nd lowest of 8
Operating margin	5.6%	9.5%	lowest of 8
Forward P/E	49.3×	66.3×	cheapest of 7
ROIC minus cost of capital	-8.4 pp	-4.6 pp	3rd lowest of 8
EV / EBITDA	36.1×	42.9×	3rd cheapest of 8
Net debt / EBITDA	0.8×	0.3×	3rd most indebted of 8

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
PG Electroplast PGEL.NS	India	$1.65B	+2%	+21%	6%	49.3×	n/a	n/a
Apollo Micro Systems APOLLO.NS	India	$1.63B	+32%	+77%	21%	92.7×	n/a	n/a
Avalon Technologies AVALON.NS	India	$1.34B	+51%	+44%	10%	69.4×	n/a	n/a
L&F 066970.KS	South Korea	$2.15B	-62%	+81%	8%	n/a	n/a	n/a
Data Patterns (India) DATAPATTNS.NS	India	$2.24B	-11%	+34%	37%	60.2×	61.0%	+32.8%
Kaynes Technology India KAYNES.NS	India	$2.30B	-26%	+35%	12%	55.5×	n/a	n/a
Syrma SGS Technology SYRMA.NS	India	$2.97B	+33%	+62%	10%	63.2×	33.7%	+61.8%
Cyient DLM CYIENTDLM.NS	India	$649M	+82%	-2%	7%	73.3×	58.4%	+15.0%
Coreintelligence 3718.TWO	Taiwan	$518M	n/a	n/a	n/a	n/a	n/a	n/a

Questions

Who are PG Electroplast's main competitors?: Named competitors: Dixon Technologies (DIXON.NS), Amber Enterprises India (AMBER.NS), Voltas (VOLTAS.NS), Havells India (HAVELLS.NS), Syrma SGS Technology (SYRMA.NS). The cockpit's measured peer set (industry) also includes Apollo Micro Systems (APOLLO.NS), Avalon Technologies (AVALON.NS), L&F (066970.KS), Data Patterns (India) (DATAPATTNS.NS), Kaynes Technology India (KAYNES.NS), Syrma SGS Technology (SYRMA.NS).
Is PG Electroplast expensive compared with its peers?: On forward p/e it trades at 49.3× against a peer median of 66.3×, cheapest of 7 in its peer set.
How has PG Electroplast stock performed?: Over six months to 6 Nov 2026 the shares returned +2.0% against +31.5% for the median peer; over one year -4.8%.