On August 28, PG Electroplast’s board approved a QIP floor price of Rs 1641.09 per share. They will meet on September 1, 2023, to determine the final equity share issue price, potentially including discounts. The proceeds will support PG Technoplast’s working capital and capital expenditure, as well as expand manufacturing and warehousing.
PG Electroplast is a leading provider of Electronic Manufacturing Services (EMS) in India, with strong capabilities in Plastic Injection molding and a diverse product range, including Room ACs, Washing Machines, Air-Coolers, and LED products. The company aims for significant growth, improved margins, and strong financial performance in the consumer durables and plastics sector.
They project FY2024 sales of Rs 2,800 crore, a 30% increase over FY23, with an operating profit of Rs 210 crore, a 28% growth. Product sales, such as washing machines and air conditioners, are expected to increase by approximately 43% in FY24 to Rs 1,920 crore from Rs 1,341 crore in FY23.
On Tuesday, PG Electroplast’s shares closed at Rs. 1962, a 9.60% increase on NSE.