Shares of PG Electroplast Ltd. were in focus on Wednesday, August 20, after the company announced a strategic manufacturing partnership with PAX India, a subsidiary of Hong Kong–listed PAX Global Technology Limited.
As per the agreement, PG Electroplast will manufacture PAX-branded Point-of-Sale (POS) devices at its existing facilities in India, with production expected to begin by the end of this year. This marks PG Electroplast’s entry into the financial technology hardware segment, expanding its portfolio beyond consumer durables into high-growth digital infrastructure solutions.
Commenting on the deal, Vikas Gupta, Managing Director – Operations, PG Electroplast, said the collaboration strengthens the company’s role under the Make in India initiative, making it one of the few Indian manufacturers of POS devices. PAX India’s CEO, Sanjeev Sandhu, highlighted that local manufacturing would enhance reliability, efficiency, and scalability for Indian customers.
The move is seen as a significant diversification step for PG Electroplast, which already supplies contract manufacturing services for air-conditioners, washing machines, LED TVs, and other consumer durables. Analysts note that the entry into payments infrastructure could open up new growth opportunities as India’s digital payments market continues to expand rapidly.
Disclaimer: This article is for informational purposes only and not a recommendation to buy or sell any stock.
