On August 14th, Havells India made an announcement detailing its exploratory efforts towards establishing a novel manufacturing facility in Ghiloth, Rajasthan. This facility’s intended purpose is the production of refrigerators. As revealed in an official filing with the exchange, the proposed facility is envisioned to possess the capability of manufacturing up to a staggering one million units by the first quarter of the fiscal year 2025-26.
Presently engaged in the practice of outsourcing refrigerator production, Havells aims to channel an investment of approximately Rs 350 crore into this ambitious project. This funding will be sourced from the revenue generated through its other business operations. The company’s motivation behind this strategic move is to harness the advantages of both backward integration and economies of scale.
In the month of July, Havells India released its financial report, disclosing a consolidated net profit of Rs 287.07 crore for the quarter concluding in June. This marked a significant increase of 18 percent when compared to the Rs 243.16 crore figure from the same period in the previous year. Notably, the company also reported a robust year-on-year rise of 13.8 percent in consolidated revenue from operations, with the latest quarter’s revenue standing at Rs 4,833.80 crore as opposed to the prior year’s Rs 4,244.46 crore.
As trading concluded on Monday, Havells India’s shares were valued at Rs. 1275.70 on the National Stock Exchange (NSE), experiencing a decline of 1.93%