Elista to invest Rs 250 crore for setting up facility in Andhra
May 03, 2023
Noida (Uttar Pradesh) [India], May 3 : Electronics and home appliances manufacturing firm Elista on Wednesday said it will invest Rs 250 crore for setting up a modern 1,32,300 sq ft facility in Andhra Pradesh that will be operational by the first quarter of 2024.
The firm, founded in 2020, is a manufacturer of electronics, home appliances, IT, and mobile accessories. Part of the TeknoDome Group, UAE, Elista adheres to India's 'Atmanirbhar' principle of manufacturing.
With this, the Noida-headquartered also announced that it would enter the chest freezers business. According to a company statement, these chest freezers have a durable design, higher cooling capacity and extra-large capacity to cater to all needs.
Pawan Kumar, CEO of Elista, said, "At Elista, we are constantly exploring newer categories where we can make a meaningful impact. We started our India journey with the launch of the dishwasher category and have successfully disrupted the segment with our value-for-money feature-packed offerings."
According to the statement, Elista has introduced variants of chest freezers -- convertible chest freezer, combi chest freezer and visible cooler. These high-capacity freezers will be ideal for storing frozen food and beverages and keeping them fresh for long hours, the company said.
According to the company's statement, the Indian chest freezer market in the country has been expanding at a rapid pace. Estimates peg that the market will continue to grow with a compound annual growth rate (CAGR) of 5 per cent and will touch Rs 1.650 crore by 2025, it added.
Elista said it aims to capture a significant share of this growing market through its new offering targeted at value-conscious customers.
According to the statement, maintenance of these freezers is another important aspect that people consider before purchasing a chest freezer. To address this, Elista said it was offering a one-year warranty on all its freezers as well as a three-year warranty on the compressor.
