EMS / Box Build

PG Electroplast

PGELNSEMid Cap

Live₹535.95syncing…

EMS for consumer appliances, durables and emerging electronics verticals with strong AC ODM franchise.

Market Cap

₹15.3k cr

Price

536

1Y 110%

Direct exposure

45/100

0–100 directness

Hold

Fundamental

56/ 100

Quality of growth, returns, cash conversion and balance sheet

Technical (TQ-100)

78/ 100

Trend, momentum, volume and relative strength composite

Valuation

18/ 100

Higher = cheaper vs peers and own history

Final composite

54/ 100

Blended decision input

Data transparency

What's real, what's pending, on this page

Real financials loaded

✓ Real / verified

· Live price, day change, market cap — NSE direct
· 1Y OHLCV, RSI(14), 50/200 DMA, 1M/3M/1Y returns, RS vs Nifty — computed from real NSE OHLCV
· Sector P/E — NSE direct
· Promoter %, pledge %, MF/FII/public split, 9-quarter history — Trendlyne
· Earnings call AI summaries — Trendlyne (where available)
· Technical (TQ-100) score — computed from real OHLCV
· Annual revenue / EBITDA / PAT / OCF / FCF / equity / assets — Trendlyne (audited annuals)

⚠ Analyst-set (qualitative)

· Segment classification + semicon directness score — analyst seed
· Bull/bear case + monitorables (curated thesis) — analyst seed
· Governance risk score (seed) — being replaced by AI-agent assessment
· Synthesized 5Y forecast removed entirely (was inaccurate)

Real financials extracted for 42 of 45 companies. See /data-sources for full provenance.

PG Electroplast · PGEL

₹535.95+65.82% over 6M

Price50 DMA200 DMA

RSI (14)

Momentum oscillator · 6M view

Volume (60D)

Fundamental score (SageOne 100)

56/ 100B

Growth 20 / Margin 15 / ROC 20 / Cash 15 / Leverage 10 / Reinvestment 8 / Accounting 7 / Governance 5 minus red flags (capped -20).

Base 56

Growth quality/ 20

6.7

Rev 1Y 6.5% · 3Y CAGR 13.8%

Margin & profitability/ 15

4.5

EBITDA 9.4% · PAT 5.5%

Return on capital/ 20

6.9

ROCE 13% · ROE 9%

Cash flow quality/ 15

14.7

OCF/EBITDA 126% · FCF yield -2.4%

Leverage discipline/ 10

9.0

Net Debt/EBITDA 0.30x

Reinvestment runway/ 8

3.5

ROCE × retention proxy

Accounting quality/ 7

7.0

OCF conversion proxy

Governance/ 5

3.6

Pledge 0.0% · Risk 28/100

✓ Computed from real Trendlyne annuals (revenue, EBITDA, PAT, OCF, equity).

Technical score (TQ-100)

78/ 100A

Computed from real 1Y OHLCV pulled from NSE direct: trend, momentum, volume, RS vs Nifty, MA cluster, mean reversion, volatility, patterns minus red flags.

Base 86

Red flags -8

Trend structure/ 20

16.8

Above 200DMA · -40% from 52W high

Momentum velocity/ 15

15.0

RSI(14) 70 · 1M 8.0%

Volume dynamics/ 15

10.5

Bucket: Mid Cap

Relative strength/ 15

15.0

RS vs Nifty 70%

MA cluster/ 10

10.0

200DMA + 1Y trend confirmation

Mean-reversion runway/ 10

5.0

RSI(14) 70; ideal 50-60

Volatility profile/ 8

6.8

Bucket: Mid Cap

Pattern integrity/ 7

7.0

Trend continuation proxy

Red flags (1)

− Deep drawdown-40% from 52W high-8

AI research agents

Re-classify segment exposure and re-assess governance risk by running fresh AI agents on the latest data. Results cache to data/agents.json.

Segment classifier

Maps to value-chain segments + computes 0-100 directness

Seed: EMS / Box Build · 45/100

Governance assessor

Forensic-accounting flags + 0-100 risk score

Seed: 28/100 risk

AI thesis

Generates a fresh thesis grounded in this company's data. Wires to Anthropic when ANTHROPIC_API_KEY is set, otherwise returns a deterministic mock.

Curated thesis

Analyst-set bull, bear and monitorables · use AI thesis above for a fresh take

Best-performing technical setup with strong consumer electronics ODM growth, but valuations stretched and governance bears watching.

Bull case

+AC ODM share leader
+Strong revenue growth
+ROCE >25%

Bear case

−Customer concentration
−Equity dilution history
−Valuations vs cyclicality

Key monitorables

Customer concentration dataMargin during off-seasonCapex announcements

Semiconductor exposure

How direct, how visible

Primary segment

EMS / Box Build

All segments

EMS / Box Build, Electronics End Markets

Exposure type

Indirect / pull-through

Policy beneficiary

Yes

Import substitution

Medium / Low

Governance risk score

28/100 (lower = better)

Financial snapshot

Latest reported metrics · mock data, ready for live financials

Rev growth (1Y)

6.5%

Rev CAGR (3Y)

13.8%

EBITDA margin

9.4%

PAT margin

5.5%

ROCE

13%

ROE

OCF / EBITDA

126%

Net Debt / EBITDA

0.3x

Promoter holding

56.4%

Promoter pledge

0.0%

Valuation

P/E (TTM)

56.3

Forward P/E

70.0

EV/EBITDA

106.3

EV/Sales

10.0

P/B

16.2

FCF Yield

-2.4%

Dividend Yield

0.00%

Hist. percentile

80%

Peer percentile

90%

Technicals

RSI(14)

1M return

8.0%

1Y return

110%

From 52W high

-40%

RS vs Nifty

70%

>200 DMA

Yes

Annual financials — real data

Extracted from Trendlyne · audited annuals · TTM + last 6 fiscal years

✓ Real

Line	TTM	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	₹1.5k cr	₹1.5k cr	₹1.4k cr	₹1.3k cr	₹1.0k cr	₹706 cr	₹642 cr
↳ YoY growth	-1.4%	+6.5%	+7.9%	+28.3%	+47.6%	+10.0%	—
EBITDA	₹149 cr	₹144 cr	₹98 cr	₹82 cr	₹52 cr	₹42 cr	₹34 cr
↳ EBITDA margin	9.8%	9.4%	6.8%	6.2%	5.0%	6.0%	5.3%
PAT	₹125 cr	₹85 cr	₹78 cr	₹44 cr	₹33 cr	₹12 cr	₹3 cr
↳ PAT margin	8.3%	5.5%	5.4%	3.3%	3.2%	1.6%	0.4%
OCF	₹47 cr	₹181 cr	₹142 cr	₹-38 cr	₹57 cr	₹27 cr	₹19 cr
↳ OCF / EBITDA	31.8%	125.6%	143.9%	-46.4%	108.8%	63.4%	56.0%
FCF (= OCF − capex)	₹-1.4k cr	₹-368 cr	₹90 cr	₹-133 cr	₹14 cr	₹-36 cr	₹-17 cr
Total Equity	₹2.5k cr	₹944 cr	₹359 cr	₹308 cr	₹193 cr	₹176 cr	₹169 cr
Total Assets	₹2.8k cr	₹1.3k cr	₹729 cr	₹823 cr	₹579 cr	₹500 cr	₹413 cr
↳ ROE	4.9%	9.0%	21.8%	14.4%	17.1%	6.6%	1.5%
↳ ROA	4.4%	6.6%	10.7%	5.4%	5.7%	2.3%	0.6%

Source: Trendlyne (Standalone where Consolidated unavailable). Last refresh on real-data ingest.

Promoter pledge & shareholding history

From Trendlyne · 9 quarters · synced Invalid Date

Pledge: 0.0%

Promoter

43.4%

Mutual Funds

19.4%

FII

9.8%

Public

22.4%

Promoter holding trend

53.6

Mar

53.4

Jun

49.4

Sep

49.4

Dec

49.4

Mar

43.7

Jun

43.6

Sep

43.4

Dec

43.4

Mar

Δ:-10.2% over 9 quartersWatch — meaningful dilution

Commentary

·Promoter holding declined from 53.6% to 43.4% (10pp dilution over 9 quarters)
·No pledge

Management quality

Capital allocation, debt discipline, alignment, governance composite. Computed from disclosed metrics.

Capital allocation

Acceptable returns on capital, room for sharper allocation.

ROCE 13%, div yield 0.0%

Promoter holding

Promoter has strong skin in the game.

56.4%

Promoter pledge

No pledging — cleanest signal.

0.0%

Debt discipline

Comfortable leverage band.

Net Debt/EBITDA 0.30x

Cash conversion

Reported EBITDA reliably translates into cash.

OCF/EBITDA 126%

Governance composite

Some watchpoints; nothing disqualifying.

28/100 risk

Variant perception

What the market is pricing in versus our read, and what would invalidate the thesis.

What the market is pricing in

Continued execution and policy tailwinds. The market has rewarded PG Electroplast for delivery and is paying a premium for what comes next.

What we think it's missing

Consensus appears reasonable. Look for thesis-changing catalysts (margin inflection, new customer wins, segment mix shift) rather than narrative re-rating alone.

Thesis killers

×Multiple compression on a single weak earnings print

References

Wire to live data sources in production

NSE filings Screener BSE corporate filings Annual report (latest)Concall transcript (latest)Investor presentation