India's PG Electroplast up on positive outlook at conference

Systematix Securities

14/12/2023 07:00

** Shares of India's PG Electroplast  PGEL.NS  up as much as
4.9% at 2436 rupees, in steepest pct climb since Nov. 20 
    ** Co management confident of achieving 50% YOY growth in
FY24 in the room air conditioner (RAC) business, brokerage
Systematix says 
    ** Mgmt comments came at Systematix's investor conference 
    ** Total rev expected to rise 30% YOY to touch 28 bln rupees
 ($336 million) in FY24 - Systematix note 
    ** Note adds "while operating margins across segments may
remain stable, a change in the mix could limit overall margins"
    ** YTD stock has surged about 117%, in fourth consecutive
yearly gain 


($1 = 83.3400 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))