PG Electroplast acquires 50-acre land in Sri City, to invest ₹1,000 crore

Contract manufacturer of electronic goods PG Electroplast Limited (PGEL) on Friday, September 26, said its wholly-owned subsidiary PG Technoplast Private Limited (PGTL) has acquired a 50-acre land parcel in Sri City, Andhra Pradesh. The company said this marks its largest land acquisition to date and its first manufacturing facility in South India.

PGEL plans to invest around ₹1,000 crore over the next five years to develop an integrated manufacturing campus at the site. Strategically located near

the Chennai port, the facility is positioned to cater to future export opportunities while expanding the company’s pan-India footprint.

In the first phase, PGEL will set up a refrigerator plant with an annual production capacity of 1.2 million units, with commercial production targeted by December 2026. The site is also being designed to accommodate future expansion into air conditioners, washing machines, and other home appliances and electronics.

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Vikas Gupta, Managing Director – Operations, 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. The facility’s scale, its proximity to the port, and its potential for exports make this a transformative chapter in our journey."

The facility is expected to generate over 500 jobs in the region in the first phase and further contribute to Andhra Pradesh’s industrial growth and India’s vision of Atmanirbhar Bharat.

Last month, PG Electroplast said it remains confident about meeting its revised guidance for the FY26, Gupta said in an interview with CNBC-TV18. The company expects a net profit of around ₹310 crore for year.

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Gupta dismissed concerns that one poor summer season could alter the company’s long-term prospects. He expects inventory levels to normalise by October-November as it prepares for its peak production months starting in November.

Shares of PG Electroplast Ltd ended at ₹514.50, down by ₹25.25 or 4.68%, on the BSE today, September 26.