PG Electroplast Limited's Board of Directors held a meeting on March 24, 2026, to address key governance matters, primarily focusing on the reappointment of Independent Directors through a postal ballot process. The meeting, which commenced at 04:15 P.M. and concluded at 05:30 P.M., resulted in significant decisions regarding the company's board composition.

Board Approvals and Postal Ballot Notice

The Board approved the draft of a postal ballot notice to be issued to shareholders for obtaining approval on critical directorship matters. The postal ballot will seek shareholder consent for two key reappointments that will shape the company's independent oversight for the next five years.

The company will distribute the postal ballot notice to shareholders and stock exchanges in due course, following standard regulatory procedures.

Key Managerial Personnel Authorization

In compliance with Regulation 30(5) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board updated the list of Key Managerial Personnel authorized for materiality determination and stock exchange disclosures.

Corporate Communication Details

The company maintains its corporate office at P-4/2, 4/3, 4/4, 4/5, 4/6, Site-B, UPSIDC Industrial Area, Surajpur, Greater Noida-201306, with established communication channels for investor relations. The contact information includes phone number 91-120-2569323, fax 91-120-2569131, and email investors@pgel.in for stakeholder communications.

Regulatory Compliance

The meeting outcomes align with the company's commitment to maintaining robust corporate governance standards. The reappointment process through postal ballot ensures shareholder participation in critical board decisions, while the updated Key Managerial Personnel list ensures proper authorization for regulatory disclosures. All information has been made available on the company's website at www.pgel.in , maintaining transparency with stakeholders and regulatory bodies.

PG Electroplast faces near-term operational challenges that have prompted Nuvama to revise its investment outlook for the electronics manufacturing company. The brokerage has adjusted its target price and earnings projections following anticipated disruptions at the company's manufacturing facilities.

Target Price Revision

Nuvama has reduced its target price for PG Electroplast from Rs 800 to Rs 780, reflecting concerns over operational disruptions expected in the fourth quarter. The revision comes as the company grapples with issues at its Supa LPG facility, which are anticipated to impact quarterly performance.

Operational Challenges and Recovery

The company is experiencing disruption at its Supa LPG facility, which is expected to significantly impact Q4 performance. However, Nuvama anticipates a partial offset in Q1 as PG Electroplast transitions to oxy-acetylene fuel as an alternative energy source. This operational shift demonstrates the company's adaptability in managing supply chain and infrastructure challenges.

Business Outlook

Despite the near-term operational hurdles, Nuvama maintains a constructive view on several key aspects of PG Electroplast's business:

• Healthy demand environment continues to support the company's core operations
• Capital expenditure plans remain on track for scheduled implementation
• New product development initiatives are progressing as planned

Earnings Impact

The brokerage has adjusted its earnings projections to reflect the anticipated impact of operational disruptions. FY26 earnings estimates have been reduced by 14%, while FY27 projections see a more modest 1% cut. This differential suggests that while Q4 disruptions will have a meaningful near-term impact, the company is expected to recover more substantially in the following fiscal year.

The earnings revisions account for both the weak Q4 performance and the margin impact resulting from the operational challenges at the Supa facility.