KRN Heat Exchanger and Refrigeration announced that in order to take the benefits of the Performance Linked Incentive (PLI) Scheme (herein referred to as PLI Scheme) for white goods (Air Conditioners and LEDs) Products, notified vide Gazette Notification No. CG-DL-E-16042021-226671 dated 16 April 2021 and PLI Scheme Guidelines issued thereunder, the Company's wholly owned subsidiary namely KRN HVAC Products Private Limited had made an application with IFCI (a government of India undertaking) and received an approval of incentives amounting to Rs 141.72 crore.

The PLI Scheme is aimed at making India a global manufacturing hub for white goods (Air Conditioners and LEDs) products under 'Make in India' initiative.