PG Technoplast, becomes the first Company to receive approval for disbursement of PLI incentives for AC Components

PG Technoplast Private Limited, a domestic company, is the first beneficiary approved by the competent authorities to receive the incentives under the AC Components target segment based on its incremental investment and sales figures for FY 2021-22 and FY2022-23 respectively. PG Technoplast Private Limited is a 100% subsidiary of PG Electroplast Limited and has manufacturing facilities in Ahmednagar (Maharashtra), Greater Noida (UP), and Bhiwadi (Rajasthan).

Commenting on this occasion, Mr. Vishal Gupta, Managing Director (Finance), PG Electroplast Limited (PGEL) said, "The PLI Schemes serve as a crucial foundation for the government's efforts to realize the vision of an Atmanirbhar Bharat and enhance the competitiveness of domestic manufacturing globally. The government's efforts and support are playing a vital role in nurturing domestic industry leaders, stimulating investments, and positioning India as a global manufacturing hub. We take immense pride in announcing that a wholly owned subsidiary of PGEL has become the first entity to secure disbursement approval from the Government of India under the PLI scheme for AC manufacturing. This achievement underscores significant recognition, and we, at PG, remain steadfast in our commitment to further investment, foster a robust component ecosystem, and advance towards design-led manufacturing".

Shares of PG Electroplast Limited was last trading in BSE at Rs. 1657.65 as compared to the previous close of Rs. 1591.50. The total number of shares traded during the day was 16215 in over 2299 trades.

The stock hit an intraday high of Rs. 1710.00 and intraday low of 1598.35. The net turnover during the day was Rs. 27017029.00.

Source : Equity Bulls

Keywords

PGElectroplast INE457L01011 PGEL ConsumerElectronics PGTechnoplast Disbursement PLIScheme ACComponents