PG Electroplast up 5% on approval for ₹30-cr incentive under PLI scheme

PG Electroplast shares advanced 4.7 per cent in trade on Monday, April 1, 2025, logging an intraday high at ₹960 per share on BSE. The buying on the counter came after the company arm PG Technoplast received approval for the disbursement of incentives under Production Linked Incentive (PLI) Scheme of the Government of India for White Goods.

 

However, around 10:39 AM, PG Electroplast shares pared some gains and was up 0.61 per cent at ₹922.25 per share on BSE. In comparison, the BSE Sensex was down 1.24 per cent at 76,457.2. The market capitalisation of the company stood at ₹26,087.08 crore. The 52-week high of the stock was at ₹1,054.95 per share and the 52-week low was at ₹171 per share.

 

"The company hereby wishes to inform regarding receipt of approval for disbursement of incentive under Production Linked Incentive (PLI) Scheme of Government of India for White Goods," the filing read.    ALSO READ | Stock Market Crash LIVE Updates: Sensex tumbles 1,200 pts from day's high to 76,260

 

PG Technoplast Private Limited, a subsidiary of PG Electroplast, received a sanction letter from IFCI Limited a Government of India. The sanction letter pertains to the disbursement of the incentive claim to PG Technoplast Private Limited. The claim is for the Determined Sales Value of FY 2023-24 under the Production Linked Incentive Scheme for White Goods-Air Conditioner, LED Lights Motors, and Display Panel (LCD/LED).

 

The payment of ₹30 crore has been sanctioned towards the incentive for the Determined Sales Value of FY 2023-24, as per existing terms and conditions of the PLI-Scheme, as amended from time to time.

 

PG Electroplast is a one-stop-solution for leading Indian and global brands. A pioneer and leading provider of Electronics Manufacturing Services in India, PG Electroplast was incorporated in 2003 as the flagship company of PG Group. Original Design Manufacturing (ODM), Original Equipment Manufacturing (OEM) and Plastic Injection Moulding are our specialisation areas.  ALSO READ | Tejas Networks up 8% on receiving over Rs 189-cr from govt under PLI scheme

 

The company caters to more than 45 leading Indian and global brands across diverse industries such as Consumer Durables, Consumer Electronics, Bathroom Fittings, and Automotives in India with a diverse team of more than 3,800 employees, according to the company's official website.

 

In the past one year, PG Electroplast shares have lost 0.62 per cent against Sensex's rise of 4.5 per cent.