Pearl Global Inds advances on undergoing capacity expansion in South India

19 Jan 2015

Pearl Global Industries is currently trading at Rs. 242.00, up by 4.95 points or 2.09% from its previous closing of Rs. 237.05 on the BSE.

The scrip opened at Rs. 237.00 and has touched a high and low of Rs. 242.00 and Rs. 237.00 respectively. So far 784 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 240.00 on 15-Jan-2015 and a 52 week low of Rs. 115.80 on 28-Jan-2014.

Last one week high and low of the scrip stood at Rs. 240.00 and Rs. 222.00 respectively. The current market cap of the company is Rs. 519.93 crore.

The promoters holding in the company stood at 66.58 % while Institutions and Non-Institutions held 10.95 % and 22.47 % respectively.

Pearl Global Industries (PGIL), Gurgaon-based home grown apparel manufacturer and exporter, is undergoing capacity expansion in South India for a total investment of around Rs 17-20 crore, funded through internal accruals and a TUFS (Technology Up-gradation Fund Scheme) loan. The company has commenced new manufacturing capacity additions in Bangalore and Chennai to cater to growing global order book and to diversify its regional presence in India.

The new facilities are expected to be instrumental in helping the company raise its cumulative production capacity by about 7% to 5.35 million pieces per month, through the addition of 1,250 machines to reach a total of 9,750 machines.

Before this expansion, PGIL’s existing production capacity stood at 5 million pieces a month with 8,500 machines spread across India, Bangladesh and Indonesia. It plans to install 450 new machines in Bangalore, adding 150,000 garment pieces per month. Of these, 250 machines will become operational in February 2015, while remaining 200 will be made operational by May 2015.

At Chennai, PGIL is installing additional capacity of 800 new machines, which will get commissioned by December 2015. The company has taken 60,000 square feet facility in Peenya, Bangalore, on long term lease, while in Chennai it has acquired a contiguous land parcel measuring 4.72 acres, on which it has built a facility to manufacture an additional 200,000 pieces a month.

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Puchho Befikar
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