Shares of PG Electroplast plunged another 18% on Monday, August 11, extending their 23% crash on Friday — the steepest single-day drop in the company’s history. The continued sell-off followed disappointing June quarter earnings and a significant downgrade in full-year guidance. As a result, the stock has now lost nearly 50% year-to-date.
Earlier in the day, around 1.04 crore shares, representing 3.7% of the company’s equity, were traded via multiple block deals at an average price of ₹500 per share, amounting to a transaction value of ₹526 crore.
Despite the steep fall, brokerage firm Nuvama has retained its “buy” rating on PG Electroplast, though it slashed the price target by 35% to ₹710 from ₹1,100, implying a 25% upside from Friday’s closing.
The brokerage also cut FY26 EPS estimates by 35%, FY27 by 25%, and FY28 by 10%, citing slower Room AC growth, reduced margins, and higher interest costs. Revenue growth guidance has been revised to 17–19% from 30.3%, and net profit growth forecast was lowered to 3–7% from 39.2%. The company also reduced its FY25 capex plan to ₹700–750 crore. Analysts remain mixed, with 7 “buy,” 3 “hold,” and 1 “sell” rating.