Every listed Indian electronics manufacturing company covered here — Dixon, Amber, Kaynes, Syrma SGS — against PG Electroplast, on the same numbers from the same filings. Click a column to rank by it. Tick up to three and press Compare for the full side-by-side.
| Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | ₹77.7k Cr | 54.0× | 25.8% | 3.8% | 47.3% | 1.2× | 0.2× | -25.3% | |
| 2 | ₹33.2k Cr | 104.3× | 27.3% | 11.3% | 17.4% | 0.6× | 0.1× | 109.3% | |
| 3 | ₹22.7k Cr | 127.7× | 22.2% | 7.1% | 10.9% | 3.5× | 0.6× | -21.8% | |
| 4 | ₹21.9k Cr | 60.1× | 33.2% | 15.8% | 13.2% | n/m | 0.2× | -54.0% | |
| vs | 5PG Electroplast | ₹14.6k Cr | 74.3× | 8.6% | 7.3% | 10.3% | 0.3× | 0.2× | -7.5% |
Market cap, P/E and the 12-month return move with the market and are dated to the last close. Every other column is the last full financial year. n/m — loss-making, so the multiple means nothing. A dash means not recorded, which is not the same as nil.
| Metric | PGEL | DIXON |
|---|---|---|
| What you pay9 Oct 2026 | ||
| Share price | ₹511.80 | ₹12,774.00 |
| Market cap | ₹14,602 Cr | ₹77,666 Cr |
| P/E | 74.28× | 53.99× |
| P/B | 4.79× | 16.61× |
| P/S | 2.76× | 1.59× |
| 12-month return | -7.5% | -25.3% |
| SizeFY26 | ||
| Revenue | ₹5,288 Cr | ₹48,873 Cr |
| PAT | ₹197 Cr | ₹1,439 Cr |
| Net worth | ₹3,049 Cr | ₹4,677 Cr |
| Gross block | ₹1,540 Cr | ₹4,172 Cr |
| GrowthFY26 | ||
| Revenue growth | 8.6% | 25.8% |
| Revenue CAGR (3y) | 34.8% | 58.9% |
| PAT CAGR (3y) | 36.4% | 77.9% |
| What it keepsFY26 | ||
| EBITDA margin | 7.3% | 3.8% |
| PAT margin | 3.7% | 2.9% |
| ROCE | 10.3% | 47.3% |
| ROE | 6.4% | 30.8% |
| CFO / PAT (3y) | 0.29× | 1.21× |
| What it owesFY26 | ||
| Net debt | ₹207 Cr | ₹53 Cr |
| Debt / equity | 0.20× | 0.21× |
| CWIP | ₹312 Cr | ₹571 Cr |
| Debtor days | 82 days | 49 days |
| Who owns itFY26 | ||
| Promoter holding | 43.4% | 28.6% |
| Institutional holding | 33.8% | 46.3% |
Every figure comes from the same filings the company pages are built from. A dash means the figure is not recorded, which is not the same as nil.
PG Electroplast makes appliances for other companies' brands — room air conditioners above all, plus washing machines, air coolers, electronics and the plastic parts that go inside them. Air conditioners brought in ₹3,288 crore of FY26's ₹5,288 crore of revenue. Revenue grew 8.59% in FY26 at a 7.32% operating margin, after a poor air-conditioner season.
Dixon builds electronics for other companies' brands — smartphones above all, plus laptops, televisions, refrigerators, washing machines and lighting — and sells almost nothing under its own name. The phone and other contract-manufacturing division brought in ₹14,179 crore of the ₹15,548 crore of June-quarter sales. Revenue was ₹48,873 crore for FY26, up 25.77%, at a 3.83% operating margin.
Built, not bought. Growth has come from new plants and new products: air conditioners first, then washing machines, now refrigerators and compressors, paid for partly by a placement of 2.15 crore shares with institutions at ₹699 each. A washing machine plant in Greater Noida is running, a compressor line is due this year and a refrigerator plant at Sri City is targeted for the March 2027 quarter. Television is through Goodworth Electronics, a joint venture.
Built mostly, bought in two places and partnered almost everywhere else. It bought 50.1% of Ismartu India, a phone maker, and 51% of Kunshan Q Tech India for camera modules; laptops come through a joint venture with Inventec, telecom equipment through one with Bharti's Beetel, and a phone venture with Vivo received government approval in July 2026. Camera-module capacity is to rise from 70 million to 180–190 million a year, and machinery is being installed in a new display plant.
The Gupta family: Anurag Gupta as chairman, Vishal Gupta as managing director for finance and Vikas Gupta as managing director for operations. Four of the eight directors are independent, and one is a nominee from Baring Private Equity Partners India. Promoters hold 43.37% with nothing pledged, down from 49.37% in March 2025.
Two long-serving executives: Sunil Vachani as executive chairman, and Atul B. Lall, who has led the business since its foundation, as vice chairman and managing director. Four of the eight directors are independent. Promoters, mostly Vachani family trusts, hold 28.55% with nothing pledged. Mr Lall was paid ₹81.89 crore in FY26, ₹74.86 crore of it from stock options he exercised.
On the balance sheet at the end of June: “We are a net cash company now.”
Pramod Gupta · Q1 FY27 earnings call
On why brands outsource: “at brand level, the competition intensity is so high that they are not able to make money.”
Vishal Gupta · Q1 FY27 earnings call
Working capital ran at “negative five days” in the June quarter.
Q1 FY27 earnings call
On the second phone incentive scheme: “we feel that it's a very well-curated scheme.”
Atul B. Lall · Q1 FY27 earnings call
Closing prices to 9 Oct 2026, adjusted for bonuses and splits. Dividends are not counted. This is what happened, not what will.
A sector, read end to end, and the companies as they are published. Roughly monthly. Nothing else, and one click to stop.