PG Technoplast Private Limited, a wholly owned subsidiary of PG Electroplast Limited (PGEL), today announced the formal inauguration of its flagship AC Manufacturing facility in Supa, Ahmednagar by Mr Baldev Singh, Additional Chief Secretary, Government of Maharashtra. The factory began commercial production earlier this year in January and is the first greenfield facility to come online under the PLI scheme for AC components. The facility is manufacturing all kinds of Split ACs ranging from 0.75T to 2.0T with installed annual capacities of 1.5 million IDUs and 1 million ODUs. Commenting on the development, Mr. Vikas Gupta, Managing Director (Operations), PGEL said "This facility is yet another step in our efforts towards creating a strong domestic component ecosystem in the country. Through rigorous planning and superb execution by all our teams, we have had a very strong first season. The major hallmarks for success in our industry are Cost, Quality, and Delivery. This facility has one of the largest capacities for ACs and AC components in Western India, and is one of the most backwards integrated in the nation. We are proud that we have been able to meet the RAC industry's expectations well and have been able to get orders from many leading Indian and multinational brands within our first year of operations." PG Technoplast Private Limited had received government approval under the Production Linked Incentive (PLI) scheme for white goods under the air conditioner components category in November 2021. The company had committed a capex of Rs 321 crores over five years through this initiative. PGTL has invested Rs 160 crores in operationalizing Phase 1 of the project and has created over 1,000 new jobs. The facility is manufacturing Room AC Indoor Units, Outdoor units, plastic moulded components, painted sheet metal components, heat exchangers, cross flow fans, and is in the process of setting up manufacturing capabilities of PCB controllers for various Consumer Electronics applications. Spread over 300,000 square ft the facility has been designed to be sustainable, with several elements to reduce environmental impact. The facility will have a 1.47 MW solar plant, water conservation facilities, and integrated facility management systems to reduce plastic, corrugated and paper waste generation. Shares of PG Electroplast Limited was last trading in BSE at Rs. 618.50 as compared to the previous close of Rs. 625.55. The total number of shares traded during the day was 3079 in over 502 trades. The stock hit an intraday high of Rs. 653.00 and intraday low of 597.55. The net turnover during the day was Rs. 1890315.00.

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