Electrical equipment maker Havells India is looking at mid-sized acquisition focussing on emerging markets even as it plans to expand its domestic presence by foraying into the personal grooming space.

The entry into the personal grooming space could happen by the January end or early February.

According to Anil Rai Gupta, Chairman and Managing Director, Havells, acquisitions could vary Rs 200 crore-to-Rs 400 crore mark in the lower range; and Rs 2,000 crore in the upper range.

The company was looking at options spreads primarily across its core verticals that include small appliances, fans and water heaters (electrical consumer durables); buildings (that include switchgear, MCDs among others); cables and wires and lighting.

Immediate focus would not be on developed markets. Some of the emerging markets that the company would target include Middle East, South East Asian nations and Africa.

“Focus will be on domestic and emerging markets where we can grow and there are also acquisition opportunities. Optimum (acquisitions) will be mid sized,” he said adding that if the company goes for smaller ones, that would mostly be a technology acquisition.

While, the company was not averse to large acquisitions, these would have to be a “strategic fit”, Gupta maintained.

Havells has sold 80 per cent stake in its international arm Havells Sylvania Malta BV.

Gupta pointed out that Sylvania was “not a strain” on the company’s balance sheet. Reason however, was the lighting technology was undergoing a change which led to divesting stake in Sylvania.

“Sylvania gave us an access across 50 international; markets. It is not because there was stress in business; but because it would be difficult to make investments across all these markets where the lighting technology changed,” he pointed out.

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