PG Electroplast electrifies on kickstarting LED TV manufacturing

The stock of PG Electroplast (PGEL) is witnessing a one-way upmove as after opening at the level of Rs 781.80, it jumped over 10 per cent and touched an intraday high of Rs 862. With this, it also logged a fresh all-time high. Furthermore, the stock has recorded the highest single-day volume since December 14, 2021.   

The key catalyst for the stock’s upmove on Wednesday is that it has begun manufacturing LED televisions for two customers at its Greater Noida facility. It has an installed capacity of 5,00,000 units of televisions with screen sizes of up to 70 inches. It is a fully-integrated facility with SMT lines for printed circuit board (PCB) assembly, clean room for liquid crystal module (LCM) assembly, final product assembly, and plastic moulding.  

Commenting on the occasion, Vikas Gupta, Managing Director (Operations), PGEL said, “Televisions have been a large part of PG’s history and legacy, and it gives us great pleasure to announce that PG has re-entered the business of manufacturing TVs. The government’s vision for an Atmanirbhar Bharat and support to the industry has been immense. We identified a lot of synergies for TV manufacturing with our existing businesses, and see this vertical as a good opportunity to scale up our electronics business.”  

PG Electroplast (PGEL) is a trusted one-stop solution provider for electronic manufacturing services (EMS) and contract manufacturing to most leading consumer durable as well as electronics brands in India. The company possesses one of the biggest capacities in plastic injection moulding and has capabilities across the value chain in original equipment manufacturing (OEM) as well as original design manufacturing (ODM) products such as washing machines, room ACs, air-coolers, and LED TVs.