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Pioneer Embroideries is currently trading at Rs. 49.90, up by 0.40 points or 0.81% from its previous closing of Rs. 49.50 on the BSE.

The scrip opened at Rs. 50.29 and has touched a high and low of Rs. 50.84 and Rs. 49.74 respectively. So far 2084 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 61.54 on 11-Sep-2023 and a 52 week low of Rs. 26.50 on 29-Mar-2023.

Last one week high and low of the scrip stood at Rs. 61.54 and Rs. 49.11 respectively. The current market cap of the company is Rs. 136.06 crore.

The promoters holding in the company stood at 32.39%, while Institutions and Non-Institutions held 9.27% and 58.33% respectively.

Pioneer Embroideries (PEL) has commenced the commercial production of Embroidery and Laces (EL) at its new plant at Shree Ganesh Integrated Textile Park (SGITPL), Degaon- Dhule in Maharashtra. All the required regulatory approvals were received by end-August, 2023. 

The company has 8 computerised, high-end machines, imported from Lasser AG, Switzerland, now installed at Degaon unit, completing its second leg of the business strategy. Earlier in August 2022, PEL had disposed off its production unit at Coimbatore, including its old equipment comprising of about 14 smaller and low speed machines. Investment in the Degaon unit was made with an aim to consolidate embroidery production, modernise its equipment to cut down on associated labor costs and thus improve efficiencies to remain competitive in the market.

PEL’s embroidery manufacturing capacity now stands at 2,400 mln stitches of embroideries across its Degaon, Sarigam and Naroli units, while prior to the sale of Coimbatore unit, PEL’s capacity stood at 1,700 mln stitches. Bobbin laces capacity remains unchanged at 14 mln meters.

Pioneer Embroideries is one of the largest manufacturer-exporter of Embroideries, Torchon/Bobbin laces, Raschel laces and other garment accessories.