FIIs & DIIs Increases Stake: This Flagship Company of PG Group Signs Rs 1,000 Crore MoU with Maharashtra Government to Set Up Mega Consumer Electronics Facility

PG Electroplast Limited, through its step-down subsidiary Next Generation Manufacturers Pvt Ltd, has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to invest Rs 1,000 crore in a greenfield project at Kamargaon, Ahilyanagar. The facility will focus on building state-of-the-art manufacturing capacities for air conditioners, washing machines, refrigerators, and allied products under the state’s flagship Magnetic Maharashtra initiative.

The signing ceremony was held at Sahyadri State Guest House, Malabar Hill, Mumbai, in the presence of Maharashtra’s Chief Minister Devendra Fadnavis, Industries Minister Uday Samant, Chief Secretary Rajesh Kumar, and other senior government officials.

The Rs 1,000 crore investment is expected to generate over 5,000 direct and indirect employment opportunities in Maharashtra, boosting the consumer electronics ecosystem in western India. According to the state government, this initiative aligns with its commitment to creating an investor-friendly environment and accelerating industrial growth through measures such as the Maitri Portal and energy tariff reforms.

Commenting on the development, Mr. Vishal Gupta, Managing Director – Finance, PG Electroplast, said, “The new Kamargaon facility will be highly vertically integrated, enhance the local components ecosystem, and create large-scale employment. We are grateful for the proactive support of the Maharashtra government.”

PG Electroplast (BSE: 533581; NSE: PGEL), a Small-Cap player in the consumer electronics space, is already a leading provider of Electronic Manufacturing Services (EMS) and contract manufacturing for major consumer durable and electronics brands in India. The company has one of the largest plastic injection moulding capacities and also operates across the value chain in Original Equipment Manufacturing (OEM) and Original Design Manufacturing (ODM). Its portfolio includes washing machines, room ACs, air-coolers, and LED TVs.

Such large-scale capacity expansion, coupled with government support, could position PG Electroplast as a stronger player in the sector, with potential implications for its long-term growth trajectory. Investors tracking Mid-Cap and small-cap companies often consider developments like these alongside Quarterly Results, dividend announcements, bonus issues, or rights issues to evaluate future opportunities.

Disclaimer: The article is for informational purposes only and not investment advice.