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Havell’s India Ltd has firmed up plans to invest ₹1,500 crores in five years, including ₹360 crore in the AC manufacturing unit under its Lloyd’s brand.
The air conditioner unit coming up in Ghilot in Rajasthan, about 100 km from Delhi, will be operational by March 2019. It will have a capacity of 6 lakh units a year initially according to Anil Rai Gupta, Chairman and Managing Director of the company.
AC brand
Havell’s acquired Lloyd’s in 2017. The AC brand Grande series in three models and two variants was launched in Hyderabad for theTelangana and Andhra Pradesh markets, where the company was witnessing a 30 per cent growth in its product range over the past few years.
Another segment that will see investment and expansion this fiscal is the R&D facility in Bengaluru. The design studio and research facility with focus on Internet of Things (IoT) applications will get at least 100 fresh engineers and researchers, said Anil Rai.
In addition to the total of ₹450-crore investment this fiscal, Havell’s is planning to spend ₹ 1,000 crore in the next four years on expanding and strengthening its presence in lighting, motors and pumps, consumer products, industrial segment, geysers, ACs etc, he added.
Manufacturing facilities
At present, Havell’s India has a dozen manufacturing plants in seven locations — Rajasthan (6), Hardwar, Faridabad, Shahibabad in UP; Baddi in Himachal Pradesh and Guwahati in Assam producing various ‘Make in India’ products, Anil Rai said.
Explaining the growth story of the company, the CMD said the challenges in last few years posed by demonetisation and GST, have settled down and the company logged 25 per cent growth in the first six months of the current fiscal.
Exports picking up
Despite the market pressures, Havell’s invested up to ₹1,000 crore in the last three years. The exports have also been picking up and stand at nearly 15 per cent of the turnover of around ₹ 20,000 crore.
Referring to the Telangana and AP markets, he said the company’s products are now available in approximately 1,000 stores and the number will grow by at least 20 per cent in the near future.
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