PG Electroplast to Invest Rs. 1,000 Crore in Refrigerator Manufacturing Plant at Sri City
Greater Noida-based PG Electroplast Limited, a leading Indian Electronic Manufacturing Services (EMS) provider, has announced an investment of Rs. 1,000 crore to establish a new refrigerator manufacturing plant at Sri City in the Tirupati district of Andhra Pradesh. The company plans to make this investment over the next five years as part of its expansion strategy.
PG Electroplast’s First South India Facility and Largest Land Acquisition
The company has acquired 50 acres of land at Sri City through its wholly-owned subsidiary, PG Technoplast Private Limited (PGTL), marking its largest land acquisition to date. According to PG Electroplast’s official stock exchange filing dated 26th September 2025, this upcoming facility represents its first manufacturing unit in Southern India.
Commenting on the development, Mr. Vikas Gupta, Managing Director (Operations) at PG Electroplast, said, “Sri City marks our very first step into South India and also our largest land acquisition so far. It reflects our deep commitment to building for the long term, not just for our customers but also for the communities we will engage with”.
Production Capacity, Export Potential, and Job Creation
The upcoming Sri City facility will have the capacity to manufacture approximately 1.2 million refrigerator units annually. Commercial production is expected to commence by December 2026. Strategically located near Chennai Port, the plant is designed to enhance PG Electroplast’s manufacturing footprint in India while enabling export-oriented operations.
In its first development phase, the plant is projected to create 500 direct and 2,000 indirect employment opportunities in the region. Additionally, the plant layout includes provisions for future expansion into other product categories such as air conditioners, washing machines, and consumer electronics.
India’s Refrigerator Market: Growth, Innovation, and Policy Support
According to a report by Mordor Intelligence, the Indian refrigerator market is valued at USD 5.34 billion in 2025 and is projected to reach USD 7.70 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 7.6%.
A report by Delhi-based Markets & Data suggests that this growth in Indian refrigerator market is supported by rising incomes, urbanization, and a growing middle class seeking energy-efficient appliances. On the production side, government initiatives such as Production-Linked Incentive (PLI) schemes are bolstering large-scale domestic manufacturing. Notably, Indian Government reopened PLI scheme for white goods with an outlay of Rs. 6,238 crore for white goods manufacturing in September 2025.
About PG Electroplast Limited: PG Electroplast Limited, headquartered in Greater Noida, was incorporated in 2003. The company has manufacturing plants in Greater Noida, Uttarakhand, Rajasthan, Ahmednagar and Maharashtra. PG Electroplast reported a revenue of Rs. 4,870 crore and Profit After Tax of Rs. 291 crore in FY25.
