Stock Split: Multibagger PG Electroplast share price rises 5% to all time high: To sub divide1 share to 10 shares

Stock Split: Multibagger PG Electroplast Ltd share price rose 5% to scale all time high on Thursday. PG Electroplast share price that opened at ₹3410.00 on Thursday, up 1.2% higher over the previous close of ₹3346.45 however continued to gain and touched all time highs of ₹3,546.40 , marking gains of more than 5% on the BSE.

PG Electroplast Ltd share price having gained 119% , has more than doubled in last one year having given Multibagger returns to the investors.

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PG Electroplast share price now remains in focus as has announced a stock split on Wednesday. PG Electroplast in its release on the exchanges announced stock split ratio of 10:1 i.e. Sub-division or Split of Equity Shares of the company from 1 (One) Equity Share having face value of Rs. 10/- each (Rupees Ten Only) fully paid-up into 10 (Ten) Equity Shares having face value of Rs. 1/ each (Rupee One Only) fully paid up.

PG Electroplast also said that it has fixed “Wednesday, July 10, 2024” as the “Record Date” for the purpose of ascertaining the eligibility of shareholders entitled for Sub-division/ Split of existing Equity Shares of the Company.

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PG Electroplast that originally was into plastic molding, however over last few years has deliberately refocused to become an OEM (Original Equipment Manufacturer) and ODM (Original Design manufacturer) and solutions provider to Indian consumer durables industry PG Electroplast has expanded its capabilities to offer comprehensive solutions for air coolers, room air conditioners , and washing machines. Recently, it has ventured into the LED TV market, higlighted analysts.

PG Electroplast has PLI (product linked incentive) in Room Air-conditioners and IT hardware and Consequently, the product segment saw exponential revenue CAGR of 91% over FY21-24, highlighted analysts at JM Financial Institutional Equities as the company gained significant market share in Room ACs and Washing Machines. Over FY24-26 , JM Financial analysts in their March report said that they estimate 9% CAGR in the product segment (lower mainly because of LED TV business shifting to Joint Venture), 15% and 29% CAGR in Room ACs and Washing Machines respectively and 19% CAGR in the plastic molding segment led by the sanitary ware business, and 124% CAGR in the PCBA (Printed Circuit Board assembly) segment led by new customer addition. Overall, JM Financial has estimated Revenue, Ebitda and net profit CAGR (compounded annual growth rate) of 15%, 16% and 41% respectively over FY24E-26.

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