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PG Electroplast Shares Extend Decline Amid Profit Slump and Monsoon Impact
PG Electroplast Shares Extend Decline Amid Profit Slump and Monsoon Impact
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BTCCSquare news:
PG Electroplast Ltd. shares tumbled for a second consecutive session, shedding nearly 20% on Monday after Friday's steep decline. The selloff follows multiple block deals and a 19.96% year-on-year drop in June-quarter net profit to ₹66.98 crore.
While revenue grew 13.86% to ₹1,503.85 crore, early monsoon rains dented seasonal AC sales. "Q1 presented a subdued start," acknowledged Finance MD Vishal Gupta, though he emphasized robust underlying demand in Core categories like ACs and washing machines.
The company trimmed its FY26 capex guidance by ₹100-150 crore to ₹700-750 crore. JM Financial maintained its buy rating despite the cuts, citing inevitable guidance revisions given order cancellations from weak seasonal demand.
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