Elista aims to reach Rs 500 cr in India revenue, ramps up investments, manufacturing
New Delhi, Jan 13 (IANS) In order to solidify its presence in the Indian consumer electronics market, leading brand Elista on Saturday said it aims to reach domestic revenue of Rs 500 crore by the end of 2025 while continuing to invest in the country and growing in newer categories.
For its plans for the manufacturing facility in Andhra Pradesh, the company told IANS that the plant has an annual production capacity of 1 million TVs and 1 million LEDs.
“The investment in this facility will be phased over five years. In the initial phase, a Rs 50 crore investment will bring the plant online by the first quarter of 2024, focusing on TV and LED monitor production,” Pawan Kumar, CEO of Elista, told IANS.
In March last year, the company unveiled a state-of-the-art 1.32 lakh square feet facility in Andhra Pradesh, and committed to invest Rs 250 crore in a phased manner.
“We announced an additional Rs 100 crore investment for a second plant, dedicated to the manufacturing of Smart TVs. We plan to employ 500 individuals in the phased manner to achieve the targets,” Kumar informed.
Established in 2020, Elista achieved household recognition in just three years. With a presence in 300 cities, the company offers a diverse range of products, including Smart LED TVs, smartwatches, speakers, and commercial refrigeration.
Elista registered Rs 158.8 crore in revenue for FY2022, followed by Rs 200 crore in FY23.
“We are committed to make a significant impact with the launch of our refrigerator and air conditioner (AC) range, scheduled for this month,” said Kumar.
Elista’s new Google TV Series provides an intuitive and personalized user experience.
With Bluetooth 5.1, Dual Band Wi-Fi, Apple TV, and built-in Google Chromecast support, these TVs guarantee a hassle-free experience.
Featuring 3x HDMI, 1x RF, 2x USB, and 1x AV In, they ensure effortless connectivity with external accessories like gaming consoles, soundbars and more.
The new Google TV Series with segment-leading specifications comes in four different (32-inch, 43-inch, 50-inch, 55-inch and 65-inch) screen-size variants.
“Our new Google TV Series and SmartRist Smartwatch range leverage state-of-the-art machinery, including AI. Rigorous durability testing and analysis of extensive consumer data allowed us to design products that deliver best-in-class user experience,” Kumar noted.
Elista SmartRist E-Series brings three feature-packed smartwatches- SmartRist E-1, SmartRist E-2, and SmartRist E-4.
Elista has currently established a presence in 17 countries, with a strategy to extend its footprint to 50 countries by 2025.
“Our ambitious global vision for 2025 is set at Rs 1,500 crore, via a combination of an innovative product lineup, a dedication to affordability, and a strategic global approach,” Kumar told IANS.
–IANS
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