Introduction:
Consumer electronics manufacturer has entered into a contract manufacturing agreement with Whirlpool to produce select models of semi-automatic washing machines. This collaboration aims to enhance production capacity, supply efficiency, and explore future growth opportunities.
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Share price movement of PGEL:
On December 24, 2024, PG Electroplast Ltd. (PGEL) opened at ₹989.00, up 3.69% from its previous close of ₹953.80. The stock reached a high of ₹1,002.00 (5.07%) and a low of ₹970.25. By 11:58 AM, it traded at ₹974.90, a 2.21% increase, with a market cap of ₹27,598.80 crore.
PGEL partners with Whirlpool for manufacturing:
PG Electroplast Limited (PGEL) has entered into a contract manufacturing agreement with Whirlpool of India Limited for select models of Whirlpool branded semi-automatic washing machines. Under the partnership, PGEL will produce specific SKUs at its Roorkee factory.
PGEL, an established supplier for Whirlpool’s air conditioners, will expand its collaboration with Whirlpool to manufacture washing machines. Both companies aim to enhance their product offerings through this strategic move, ensuring higher production capacity and supply efficiency.
The collaboration is also expected to foster future growth opportunities, with Whirlpool and PGEL evaluating potential expansion prospects. This partnership strengthens their long-term business relationship.
Recent news on PGEL:
As of December 10, 2024, PG Electroplast Ltd. has approved the allotment of over 2.14 crore equity shares to eligible QIBs at an issue price of ₹699 per share, raising ₹1,499.9 crore. Following this, the company’s paid-up share capital has increased to ₹283,093,658.
Ace investor holding in PGEL:
Mahesh Dinkar Vaze
Mahesh Dinkar Vaze holds a 1.06% stake in PG Electroplast Ltd, owning 3,000,000 shares valued at ₹292.5 crore. His investment reflects significant confidence in the company’s growth and future potential in the consumer electronics sector.
Stock performance of PGEL for Period of 1 week, 6 months and 1 year:
PG Electroplast Ltd has experienced a 3.42% decline in the past week. However, the company shows strong performance over the last six months with a 176% return and a remarkable 288% return over the past year, highlighting significant growth.
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Shareholding pattern of PGEL:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 53.40% | 53.60% | 53.70% |
| FII | 10.70% | 11.10% | 11.00% |
| DII | 9.80% | 9.90% | 10.90% |
| Public | 25.90% | 25.20% | 24.30% |
About PGEL:
PG Electroplast (NSE: PGEL) is a leading provider of Electronic Manufacturing Services (EMS) and contract manufacturing, serving top consumer electronics brands in India. The company specializes in OEM and ODM products like ACs, washing machines, and LED TVs.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
