PG Electroplast shares surge 3.5% after promoters sell stake worth ₹1,132 crore; check all details

On Tuesday, three promoters of the company sold a total of 5.3% of PG Electroplast through open market transactions.

According to the bulk deal data available on the BSE, PG Electroplast's promoters Vikas Gupta, Anurag Gupta and Vishal Gupta sold 1.50 crore equity shares, cumulatively a 5.3% stake in the company.

The shares were disposed of in the price range of ₹754.83 to ₹755.73 per share on the BSE, taking the aggregate deal value to ₹1,132.26 crore.

At 10:25 AM, shares of the company were trading 2.82% higher at ₹786.80 apiece on the National Stock Exchange.

After the latest transaction, the promoters' and promoter group entities' holding in PG Electroplast Ltd (PGEL) declined to 44.07% from 49.37%.

Meanwhile, the Singapore government picked up 38.18 lakh shares, or a 1.35% holding, in PGEL, while Motilal Oswal Asset Management Company purchased an additional 15.89 lakh shares, amounting to a 0.56% stake in the company, as per the data.

The shares of PGEL were acquired by both entities at an average price of ₹754.80 apiece, taking the combined transaction value to ₹408.22 crore. Details of other buyers of PGEL shares could not be ascertained on the exchange.

PG Electroplast, a contract manufacturer of consumer electronics and home appliances, reported a two-fold jump in consolidated net profit to ₹146.38 crore in the March quarter of FY25 (Q4 FY25), led by strategic expansion in products, capacity and increase in operational efficiencies.

It had posted a consolidated net profit of ₹71.58 crore in the January-March quarter a year ago, according to a regulatory filing by PG Electroplast Ltd (PGEL) on Monday.

PGEL's revenue from operations was up 77.4% to ₹1,909.85 crore in the March quarter. It was ₹1,076.57 crore in the corresponding quarter a year before.

Total expenses of PGEL were ₹1,749.79 crore in the March quarter, up 76.84%. Its total revenue was up 78.68% to ₹1,929.72 crore in the March quarter.