PG Electroplast Share Price Reaches Record High
PG Electroplast, a leading player in the electronic goods industry, has announced the division of its shares into 10 parts. The company’s shares saw a sharp rise following the announcement, reaching a record high during the day with an increase of nearly 11%. Although the price has slightly decreased due to profit booking, it remains strong.
Currently trading at ₹2,578.55 on the BSE with an increase of 8.33%, the share price surged to ₹2,639.80 during trading hours, marking a record high for the company’s shares. Just last year on July 24, 2023, it was at a low of ₹1,436.05.
Stock Split Decision by PG Electroplast
PG Electroplast has decided to split its shares into parts with ₹10 marked value shares divided into ₹1 marked value shares. This is the first time the company has made the decision to sell its shares. Companies make decisions regarding stock splits to increase the number of outstanding shares in the market, thereby increasing liquidity. PG Electroplast’s shares will now be divided into 10 parts, although the record date has not been finalized yet.
On Thursday, May 30, 2024, the share was trading at ₹2,539 with a 1.69% decrease.
Revenue Growth and Margins Increase
In the fiscal quarter ending in March 2024, PG Electroplast saw a 30% annual increase in revenue, reaching ₹1,076 crore. With a 25% growth in the production business, the revenue received good support, with the company now holding a 72% share of the revenue. The EBITDA margin increased annually to 10.8% from 9.1% in the previous quarter, attributed to cost control, low commodity prices, and operating leverage.
The company expects a 23.8% annual revenue growth, potentially reaching ₹3,400 crore, and a net profit increase of 46% to ₹200 crore during this period.
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