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The Joint Venture (JV) company will initially undertake the manufacturing of LED Televisions. The JV's purpose is to leverage both parties' expertise and resources to create a strong and competitive business that can meet the growing demand for high-quality televisions.
The equity shareholding of the JV company will be 50%-50% between PGEL and JMA. PGEL and JMA shall contribute equal capital to the JV by purchasing shares at an equal price per share. In the event that either JMA or PGEL intends to sell its shares in the JV company to a third party, the shall have a 'Tag Along' right to participate in the sale of shares.
PG Electroplast manufactures printed circuit board assemblies, plastic injection mouldings for major consumer durables, specialised AC components, home electricals and kitchen appliances. The company caters to industries such as automotive components, consumer electronics mobile handsets and sanitary ware.
The company's consolidated net profit increased 45.4% to Rs 40.17 crore on 61.2% jump in net sales to Rs 828.23 crore in Q4 FY23 over Q4 FY22.
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