Under the arrangement, PGEL will produce PAX-branded POS devices at its existing facilities, with production expected to begin by the end of this year. The agreement marks PGEL’s entry into the payments and fintech hardware segment, expanding its presence beyond consumer electronics into high-growth digital infrastructure solutions.
Vikas Gupta, managing director of operations of PG Electroplast, said, “We are proud to partner with PAX, a global leader in POS devices, to bring advanced digital payment solutions to India under the Make in India initiative. With this partnership, PGEL becomes one of the very few companies in India to manufacture POS devices, further diversifying our portfolio and reinforcing our commitment to scaling EMS in high-growth technology categories.”
Sanjeev Sandhu, CEO of PAX India, said, “India is one of the fastest-growing digital payments markets in the world, and we are committed to serving it with world-class, locally manufactured POS solutions. Partnering with PG Electroplast allows us to strengthen our presence in India by combining PAX’s technology leadership with PGEL’s proven manufacturing expertise. This collaboration enables our Indian customers to benefit from greater reliability and scalability through local manufacturing.”
The stock has climbed 17.17% over the past four sessions from its recent closing low of Rs 486.10 on 13 August 2025.
PG Electroplast is a one-stop solution provider for electronic manufacturing services (EMS) and contract manufacturing to most leading consumer durable and electronics brands in India. The company has plastic injection molding and capabilities across the value chain in original equipment manufacturing (OEM) and original design manufacturing (ODM) products like washing machines, room ACs, air coolers, and LED TVs.
The company’s consolidated net profit fell 19.97% to Rs 66.98 crore in Q1 FY26 as against Rs 83.70 crore posted in Q1 FY25. Despite the fall in profit, revenue from operations rose 13.86% year-on-year (YoY) to Rs 1,503.85 crore for the quarter ended 30 June 2025.