Ram Ratna Wires Ltd. bags approval under PLI Scheme for White Goods

Ram Ratna Wires Ltd., a leading manufacturer of super enameled copper winding wires in India has announced that they have been selected in the 3rd round of PLI Scheme for White Goods.

Ram Ratna Wires Ltd. has committed an investment of ~₹ 253 crore under PLI scheme for manufacturing of Copper Tube (plain and/or grooved) and Aluminum Stock for Foils or Fins for heat exchangers. This initiative aligns with the company's vision to contribute to the government's 'Make in India' and 'Aatmanirbhar Bharat' missions while integrating India into the global supply chain ecosystem. The PLI Scheme on White Goods is designed to create a robust component ecosystem for Air Conditioners and LED Lights Industry in India and make India an integral part of the global supply chains.

The Scheme extends an incentive of 6% to 4% on reducing basis on incremental sales for a period of five years subsequent to the base year and one year of gestation period. Domestic Value Addition is expected to grow from the current 15-20% to 75-80%.

Speaking at the occasion Shri Mahendrakumar Kabra, Managing Director at Ram Ratna Wires Ltd., said "We are proud to announce that we have been selected for the Production-Linked Incentive (PLI) Scheme for White Goods, a significant step in our commitment to strengthening India's manufacturing capabilities. With an investment of ~₹ 253 crore, we aim to expand our manufacturing capacities and position ourselves as leaders in this competitive sector. The copper tube segment, which plays a crucial role in India's rapidly growing air conditioning industry, presents immense growth opportunities. Additionally, we are exploring the potential of aluminum stock for foils and fins used in heat exchangers, with a keen interest in contributing to the energy sector. This strategic initiative aligns with our vision to drive innovation, enhance production efficiency, and contribute to the nation's economic development."

Shares of RAM RATNA WIRES LTD. was last trading in BSE at Rs. 552.50 as compared to the previous close of Rs. 570.30. The total number of shares traded during the day was 2065 in over 206 trades.

The stock hit an intraday high of Rs. 581.40 and intraday low of 550.75. The net turnover during the day was Rs. 1161979.00.

Source : Equity Bulls

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RAMRATNAWIRES INE207E01023 Approval PLIScheme WhiteGoods