Elista, India’s leading manufacturer of electronics, home appliances, IT & mobile accessories brands, today announced that it would be investing Rs 250 crore in setting up a manufacturing plant in Kadapa, Andhra Pradesh. This state of art plant will be spread over 1,32,300 square feet and will have a production capacity of 10,00,000 TVs & 10,00,000 LED Monitors annually. Through this new facility, Elista will generate employment for 500 people.
Mr. Saket Gaurav, Chairman and Managing Director of Elista and TeknoDome (parent company for Elista), says, “With this manufacturing facility, Elista reaffirms its commitment to Making in India for the world. We are delighted by the support the Government of Andhra Pradesh extended to us. The conducive policies of the state, along with a robust infrastructure and progressive ecosystem, make it an ideal manufacturing hub for consumer electronics goods. Through this expansion, we are not just scaling our production capacity but also seeking to offer better and more technologically advanced products to our customers in India and abroad.”
Building on the company’s long-term commitment to the Indian market and in line with the Government’s ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives, the facility will boost local manufacturing and engineering of innovative products and solutions while also serving global market demands. The majority of Elista’s portfolio continues to be Made in India, and with this new facility, the company is looking to manufacture part of its portfolio in-house.
The investment in the manufacturing facility will be spread across five years. In the first phase, Elista will invest Rs 50 crores, and the plant will be operational by the first quarter of 2024. In the first phase, only TV and LED monitors will be manufactured at this Andhra Pradesh facility; however, Elista has already chalked out plans to manufacture washing machines and dishwashers.
Elista recently kickstarted its operations in UAE & CIS and is mulling an entry into other key markets in the MEA region by next year. The company expects to clock revenue of Rs 1,500 crore by 2025 from both Indian and International operations.
