PG Electroplast, a leading provider of electronics manufacturing services in India is looking to explore mobility air conditioning business going forward. Currently, the company does not have solutions that cater to mobility air conditioning. Vikas Gupta, MD-Operations at PG Electroplast expressed the company's interest in exploring this segment in the future.

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Gupta said, “Right now, we do not have any solutions where we can address the mobility air conditioning. Maybe going forward, we will look at that also as an opportunity.”

Gupta expressed confidence in PG Electroplast's ability to achieve its revenue guidance of Rs 2,800 crore. The company's robust order book until Diwali indicates a healthy demand for its products.

“If you look at the numbers that we are targeting at, we are very hopeful that we should be able to achieve the guidance that we have given for Rs 2,800 crore. The numbers are based on the forecast and the oderbook that we have from our clients and the focus till Diwali looks very robust.”

Moreover, Gupta projected a revenue growth of 40-50 percent in the room AC segment for FY24. This positive outlook demonstrates PG Electroplast's strong position in the market and its commitment to delivering high-quality and reliable products to consumers.

“We are looking at a growth of almost 40 to 50 percent in our air conditioner business in the current financial year as well. That is based on the forecast and the understanding that we have with our clients so we are hopeful of achieving that number.”

Gupta proudly mentioned that PG Electroplast commands a market share of 15 percent in the room AC segment, showcasing the company's strong position in the industry.

Additionally, he announced that PG Electroplast has added two large clients in the washing machine business, fueling further growth opportunities.

With a projected growth of 50 percent or more in the washing machine segment for FY24, the company is well-positioned to expand its market presence and increase its customer base.

PG Electroplast has gained more than 40 percent this year so far. The company posted a good set of Q4FY23 numbers. In FY24, company plans capex in the range of Rs 170-180 crore and expects sales of Rs 2,800 crore.

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(Edited by : C H Unnikrishnan)

First Published:Jul 7, 2023 3:20 PM IST