KRN Heat Exchanger and Refrigeration Limited has informed the Exchange about General Updates
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KRN Heat Exchanger and Refrigeration Limited announced that its wholly owned subsidiary, KRN HVAC Products Private Limited, has received approval for incentives amounting to Rs 141.72 Crores under the Government of India's Production Linked Incentive (PLI) Scheme for white goods (Air Conditioners and LEDs) manufacturing. The application was filed with IFCI Limited, a Government of India undertaking, and approved under the PLI Scheme notified in April 2021 as part of the 'Make in India' initiative. The incentive is aimed at boosting domestic manufacturing of air conditioners and LED products in India.
This is a significant positive development for the company, as the Rs 141.72 Crore PLI approval could meaningfully boost the subsidiary's future revenue and margins over the scheme period, strengthening the parent company's growth outlook in the HVAC and white goods segment.