PG Electroplast shares sink 13% on LPG supply disruption
Shares of PG Electroplast tumbled as much as 13% to their day’s low of Rs 528 on the BSE on Monday after the company informed exchanges about a shortage of gas under its gas sale and purchase agreement.
In a regulatory filing, the company said PGEL Gas Suppliers has received a communication regarding a gas shortage under its Gas Sale and Purchase Agreement. The disruption has arisen due to constraints faced by certain vessels amid maritime navigation restrictions linked to the ongoing conflict in the Middle East, affecting the overall gas supply situation.
As a result, suppliers have imposed restrictions on LPG supplies, leading to a reduction in the quantities allocated to PGEL under the contract with effect from March 9, 2026.
The company said PGEL is currently assessing the situation and evaluating whether any supply curtailment may be required for its downstream customers. Further, it is exploring alternative sources of supply to ensure that production remains unaffected.
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PG Electroplast added that the potential impact of the shortage cannot be quantified at this stage. The company said it is closely monitoring developments and will keep the stock exchanges informed of any material updates.
PG Electroplast Q3 snapshot
For the third quarter, PG Electroplast reported a 50% year-on-year increase in net profit to Rs 60.3 crore, while revenue rose 45.9% to Rs 1,412 crore. EBITDA grew 37.4% to Rs 117 crore, though margins moderated to 8.3% compared with 8.8% in the same period last year.
The company’s wholly owned subsidiary, PG Technoplast, reported revenues of Rs 1,067 crore in Q3FY26, highlighting the continued expansion of its manufacturing operations.
During the quarter, the room air conditioner segment recorded an 80.5% increase, supported by channel stocking ahead of BEE rating changes. The washing machine business also posted a healthy growth of 45.1%. Overall, the product business accounted for 80.7% of total revenues in the quarter and registered a 72.4% year-on-year rise.
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Commenting on the results, Chairman Anurag Gupta said the product business delivered strong growth despite a challenging operating environment. He noted that key categories such as room air conditioners and washing machines saw robust momentum. Gupta also said the company remains focused on strengthening its long-term competitiveness through investments in new capabilities, capacity expansion and product development.
( Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
In a regulatory filing, the company said PGEL Gas Suppliers has received a communication regarding a gas shortage under its Gas Sale and Purchase Agreement. The disruption has arisen due to constraints faced by certain vessels amid maritime navigation restrictions linked to the ongoing conflict in the Middle East, affecting the overall gas supply situation.
As a result, suppliers have imposed restrictions on LPG supplies, leading to a reduction in the quantities allocated to PGEL under the contract with effect from March 9, 2026.
The company said PGEL is currently assessing the situation and evaluating whether any supply curtailment may be required for its downstream customers. Further, it is exploring alternative sources of supply to ensure that production remains unaffected.
Also read: IOCL, HPCL, BPCL tumble up to 9% on UBS downgrade amid crude surge; check targets
PG Electroplast added that the potential impact of the shortage cannot be quantified at this stage. The company said it is closely monitoring developments and will keep the stock exchanges informed of any material updates.
PG Electroplast Q3 snapshot
For the third quarter, PG Electroplast reported a 50% year-on-year increase in net profit to Rs 60.3 crore, while revenue rose 45.9% to Rs 1,412 crore. EBITDA grew 37.4% to Rs 117 crore, though margins moderated to 8.3% compared with 8.8% in the same period last year.
The company’s wholly owned subsidiary, PG Technoplast, reported revenues of Rs 1,067 crore in Q3FY26, highlighting the continued expansion of its manufacturing operations.
During the quarter, the room air conditioner segment recorded an 80.5% increase, supported by channel stocking ahead of BEE rating changes. The washing machine business also posted a healthy growth of 45.1%. Overall, the product business accounted for 80.7% of total revenues in the quarter and registered a 72.4% year-on-year rise.
Also read: Rs 12L cr rout! Mideast war, 6 other key factors behind today's D-St bloodbath
Commenting on the results, Chairman Anurag Gupta said the product business delivered strong growth despite a challenging operating environment. He noted that key categories such as room air conditioners and washing machines saw robust momentum. Gupta also said the company remains focused on strengthening its long-term competitiveness through investments in new capabilities, capacity expansion and product development.
( Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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