Amber Group extends gratitude to Government of India over PLI disbursal approval for AC components

Under the Government of India's transformative Production Linked Incentive (PLI) scheme for AC components, major PLI applicants including Amber Group, has been approved for the disbursal of PLI benefits for manufacturing AC components.

Speaking about this milestone and extending his gratitude towards the government, Mr. Jasbir Singh, Chairman and CEO, Amber Group said, "The PLI scheme has been instrumental in propelling the Indian consumer durables industry and in realisation of Atmanirbhar Bharat in this segment. Since its inception, this scheme has boosted the domestic manufacturing capacity for ACs, jumping from 25% in 2021 to 45% till date, showcasing the remarkable impact of this initiative. On behalf of Amber Group, I extend our sincere gratitude to the government, DPIIT and the Ministry of Commerce."

With this PLI approval, the Company is now well-positioned to take its manufacturing prowess to the global with an aim to achieve 75% local value addition in air conditioner and its components production within the stipulated time frame of FY28.

Shares of Amber Enterprises India Limited was last trading in BSE at Rs. 3763.85 as compared to the previous close of Rs. 3689.90. The total number of shares traded during the day was 14543 in over 1863 trades.

The stock hit an intraday high of Rs. 3810.00 and intraday low of 3713.25. The net turnover during the day was Rs. 54838865.00.

Source : Equity Bulls

Keywords

AmberEnterprisesIndia INE371P01015 ConsumerElectronics PLIScheme ACComponents