PG Technoplast Private Limited, a wholly-owned subsidiary of PG Electroplast Limited (PGEL), today marked a significant milestone with the unveiling of its new marquee air conditioning manufacturing facility for North India in Bhiwadi, Rajasthan. This strategic investment aims to meet the growing demand for energy-efficient and sustainable cooling solutions in India and expand the company's footprint in the rapidly growing air conditioning market. The ceremony was graced by the esteemed presence of Mr Kamal Nandi (Business Head and Executive Vice President, Godrej Appliances), Mr NS Satish (President, Haier India), and Mr Pradeep Jain (Managing Director, Jaina India) who officially unveiled the state-of-the-art facility.
The brand-new facility, spanning an impressive 200,000 sq.ft manufactures a comprehensive range of split ACs ranging from 0.75T to 2.0T with installed annual capacities of 360k AC Indoor Units, 360k AC Outdoor Units and 250k Window ACs. Its production capabilities, including the manufacturing of AC units, cover sheet metal components, powder coating plant, heat exchangers, and copper tubing systems. This unit will create additional employment for over 1,000 people.
The facility is designed with sustainability at its core. It features a state-of-the-art Learning Centre to educate apprentices and trainees to nurture the next generation of manufacturing talent and provide continuous on-the-job training to company's stakeholders. It also features water conservation and integrated facility management systems to reduce plastic, corrugated, and paper waste generation.
Marking yet another significant achievement this month, PG Technoplast, became the first beneficiary to receive incentives under the air conditioning (AC) components target segment of the government's Production Linked Incentive (PLI) scheme, after being recognized for their incremental investment and sales performance during the fiscal years 2021-22 and 2022-23. PG has now firmly established itself as the second largest ODM for Room Air Conditioners in the nation having entered the category just 3 years ago in 2021.
Mr. Vishal Gupta, Managing Director (Finance), PG Electroplast Limited stated, "Today marks a noteworthy milestone for PG as we inaugurate our second integrated air conditioning manufacturing facility in Bhiwadi, Rajasthan. This facility emphasizes our commitment to delivering high-quality, energy-efficient cooling solutions that cater to the evolving needs of Indian consumers. With this expanded capacity, we intend to lead innovation in the landscape of Room ACs and capture a larger portion of the North Indian AC manufacturing market. This achievement is a reflection of our dedication to excellence and our vision for a greener future."
Shares of PG Electroplast Limited was last trading in BSE at Rs. 1998.70 as compared to the previous close of Rs. 2005.00. The total number of shares traded during the day was 5963 in over 943 trades.
The stock hit an intraday high of Rs. 2034.00 and intraday low of 1980.25. The net turnover during the day was Rs. 11968659.00. |
