PG Electroplast surges as its arm inaugurates flagship AC manufacturing facility in Ahmednagar
PG Electroplast is currently trading at Rs. 683.05, up by 36.65 points or 5.67% from its previous closing of Rs. 646.40 on the BSE.
The scrip opened at Rs. 665.00 and has touched a high and low of Rs. 683.05 and Rs. 655.15 respectively. So far 1027 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 870.00 on 07-Jan-2022 and a 52 week low of Rs. 287.60 on 23-Aug-2021.
Last one week high and low of the scrip stood at Rs. 683.05 and Rs. 590.80 respectively. The current market cap of the company is Rs. 1429.18 crore.
The promoters holding in the company stood at 65.71%, while Institutions and Non-Institutions held 0.99% and 33.30% respectively.
PG Electroplast’s wholly owned subsidiary -- PG Technoplast (PGTL) has formally inaugurated its flagship AC Manufacturing facility in Supa, Ahmednagar. The factory began commercial production earlier this year in January and is the first greenfield facility to come online under the PLI scheme for AC components. The facility is manufacturing all kinds of Split ACs ranging from 0.75T to 2.0T with installed annual capacities of 1.5 million IDUs and 1 million ODUs.
PGTL had received government approval under the Production Linked Incentive (PLI) scheme for white goods under the air conditioner components category in November 2021. The company had committed a capex of Rs 321 crore over five years through this initiative. PGTL has invested Rs 160 crore in operationalizing Phase 1 of the project and has created over 1,000 new jobs. The facility is manufacturing Room AC Indoor Units, Outdoor units, plastic moulded components, painted sheet metal components, heat exchangers, cross flow fans, and is in the process of setting up manufacturing capabilities of PCB controllers for various Consumer Electronics applications.
PG Electroplast is a trusted one-stop solution provider for Electronic Manufacturing Services (EMS) and contract manufacturing to most leading consumer durable and electronics brands in India.
