PG Electroplast Ltd. (PGEL), one of the pioneers and leaders in the Electronic Manufacturing Services and Plastic Molding announced its results for the quarter ended December 31st 2022, as approved by its Board of Directors.
“PG’s 9MFY2023 performance is reflection of its strategy of focusing on the Product business, which is helping the company build scale and improve its financial ratios. The growth outlook remains robust for the Product business of the company and with Expanded capacities, PGEL is well placed to gain a further foothold in the contract manufacturing space in Washing Machines (WM), Air Conditioner (AC) and Air Cooler markets. The growth outlook is being revised up for FY2023 due to sharp successful scale ups across all business segments.
The Capacity and Capability matrix of the company has further strengthened with commissioning of the new AC controller facility in Supa and expanded capacities for AC and WM in Supa and Greater Noida respectively. The outlook for all business segments remains robust with increase in wallet share in the existing clients and good momentum in addition of new clients. We continue to execute on the Product business strategy by expanding our R&D and Product development capabilities” said Mr. Vishal Gupta, MD-Finance
