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LG Electronics ramps India manufacturing capacity in Sri City
The company plans a new Sri City plant in Andhra Pradesh to boost output for major appliances and cut lead times for Indian consumers.
LG Electronics has moved to expand its India manufacturing footprint with a new plant in Sri City, Andhra Pradesh, aimed at adding capacity for major appliances and scaling production volumes across refrigerators, washing machines, air conditioners, and related components, LiveMint Markets reports.
The expansion is positioned as part of a broader India-centric growth strategy, with the company localising more manufacturing to reduce lead times for consumers and to support premium, technologically differentiated products in the market.
LiveMint Markets says India’s consumer durables market is expected to grow rapidly, supported by rising household penetration of appliances and improving access to appliance financing through both fintech-based and traditional consumer credit.
The outlet also cites LG Electronics India’s financial progress, including revenue rising from ₹16,800 crore in FY22 to ₹24,600 crore in FY26, net profit increasing from ₹1,200 crore to ₹1,660 crore, and a zero-debt balance sheet over the past five years alongside an average return on equity of 25.3%.