India's PG Electroplast extends loss to hit one-year low after lowering earnings target

PG Electroplast

11/08/2025 10:01

** PG Electroplast PGEL.NS shares plunge 14.2% to 504.85 rupees, their lowest level since Aug 2024

** Extends Friday's 20% post-result crash

** AC manufacturer cuts FY26 net profit estimate after early monsoon rains dampened Q1 demand; FY26 revenue target cut

** Nuvama maintains "buy" but slashes PT to 710 rupees from 1,100 rupees; warns significant AC inventory will hurt Q2, Q3

** PGEL was caught off-guard in its "overly optimistic" stance on AC demand - ICICI Direct

** Anand Rathi downgrades to "hold", cuts PT to 730 rupees from 1,250 rupees, citing near-term weakness

** Average rating from 8 analysts is "buy"; median PT is 780 rupees - data compiled by LSEG

** Stock down ~49% YTD

($1 = 87.5925 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru)

 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))