MLR Research has come out with a Research Report on the upcoming IPO of PG Electroplast Limited with an "AVOID" remark. PG Electroplast is an electronic manufacturing services provider, whose IPO would open for subscription till September 12, 2011
The company manufactures and assembles a comprehensive range of consumer electronic components and finished products such as colour television (CTV) sets & components, air conditioners (ACs) sub-assemblies, DVD players and Compact Fluorescent Lamps (CFL) for third parties. As backward integration, it also does plastic injection moulding and manufacture printed circuit boards (PCB) assemblies for CTVs, DVD players and CFL
PG Electroplast Limited intends to use that money for prepayment of the portion of term loan and line of credit facility proposed to be availed by company for the expansion under Phase I; expansion of manufacturing facility at Unit III, Greater Noida; expansion of manufacturing facility at Unit IV, Pune; and for long term working capital requirements. The Report from MLR Research included the following on the company
Company Background
PG Electroplast is into manufacturing and assembling of consumer electronic products like colour television sets (CTVs) & components, DVD players, air conditioners among others for OEMs. As part of backward integration, the company also manufactures plastic injection mouldings and Printed Circuit Board (PCB) assemblies for CTVs, DVD players and Compact Fluorescent Lamps (CFL).
The manufacturing facilities of PGEL are located at Greater Noida, Uttar Pradesh and Roorkee, Uttrakhand with total installed capacity of 16 lakh pieces p.a. for PCB assemblies for CTVs and DVDs. 6.6 tonnes p.a, for plastic injection mouldings, 16.1 lakh pieces p.a. for CTVs, 3 lakh pieces p.a. for DVDs, 30 lakh pieces p.a for CFL assemblies and 30 lakh pieces p.a. for PCB assemblies. PGEL's Roorkee plant enjoys tax benefits under Industrial Policy, 2003 by the Central Government.
Mr. Promod Gupta is the promoter of the company. He is supported by his three sons namely Mr. Anurag Gupta, Mr. Vishal Gupta and Mr. Vikas Gupta having experience of more than 15 years each in the electronic manufacturing industry as executive directors of the company.
Utilisation of issue proceeds
¨Expansion of plastic injection moulding facility at Greater Noida (Unit III) and Ahmednagar (Unit IV) – Rs 51 Cr
¨ Prepayment of term loan – Rs 24 Cr
¨ To meet long term working capital requirements – Rs 15 Cr
Click here to download complete report now!
The company manufactures and assembles a comprehensive range of consumer electronic components and finished products such as colour television (CTV) sets & components, air conditioners (ACs) sub-assemblies, DVD players and Compact Fluorescent Lamps (CFL) for third parties. As backward integration, it also does plastic injection moulding and manufacture printed circuit boards (PCB) assemblies for CTVs, DVD players and CFL
PG Electroplast Limited intends to use that money for prepayment of the portion of term loan and line of credit facility proposed to be availed by company for the expansion under Phase I; expansion of manufacturing facility at Unit III, Greater Noida; expansion of manufacturing facility at Unit IV, Pune; and for long term working capital requirements. The Report from MLR Research included the following on the company
Company Background
PG Electroplast is into manufacturing and assembling of consumer electronic products like colour television sets (CTVs) & components, DVD players, air conditioners among others for OEMs. As part of backward integration, the company also manufactures plastic injection mouldings and Printed Circuit Board (PCB) assemblies for CTVs, DVD players and Compact Fluorescent Lamps (CFL).
The manufacturing facilities of PGEL are located at Greater Noida, Uttar Pradesh and Roorkee, Uttrakhand with total installed capacity of 16 lakh pieces p.a. for PCB assemblies for CTVs and DVDs. 6.6 tonnes p.a, for plastic injection mouldings, 16.1 lakh pieces p.a. for CTVs, 3 lakh pieces p.a. for DVDs, 30 lakh pieces p.a for CFL assemblies and 30 lakh pieces p.a. for PCB assemblies. PGEL's Roorkee plant enjoys tax benefits under Industrial Policy, 2003 by the Central Government.
Mr. Promod Gupta is the promoter of the company. He is supported by his three sons namely Mr. Anurag Gupta, Mr. Vishal Gupta and Mr. Vikas Gupta having experience of more than 15 years each in the electronic manufacturing industry as executive directors of the company.
Utilisation of issue proceeds
¨Expansion of plastic injection moulding facility at Greater Noida (Unit III) and Ahmednagar (Unit IV) – Rs 51 Cr
¨ Prepayment of term loan – Rs 24 Cr
¨ To meet long term working capital requirements – Rs 15 Cr
Click here to download complete report now!
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