Havells India, a $1.4-billion leading fast moving electrical goods (FMEG) company, aims to achieve revenues to the tune of Rs 500 crore in Karnataka by the end of this financial year, a top executive said on Monday.
Briefing reporters, Havells India Vice President and Head (Switchgear Segment) said, “Last year, we had achieved Rs 430 crore in revenues and by the end of this financial year (March 2016), we aim to reach Rs 500 crore.”
The company plans to add 100-150 dealers to its existing 400 dealers in Karnataka by the end of March 2016. At present, the company has 41 exclusive showrooms and will add nine more.
Jagdish adds, “We are present in all 31 districts of Karnataka, and the next level of growth will come from tier-II and tier-III towns and rural markets. We have launched projects specifically for the rural market with a new brand called ‘Reo’.”
“The look and feel of this product is similar to the modular switchgear product, but this is not a modular switch. The rural consumer wants us nearer to him. From the rural market, we expect to source 40 per cent revenues against the current 20 per cent.” The company spends close to three per cent of total revenues on advertising every year.
Meanwhile, the company launched a range of switchgear products comprising automatic changeover with current limiter (ACCL), Euro-II series miniature circuit breakers (MCBs), and residual current circuit breakers (RCCBs) and premium range of distribution boards.
Havells India manufactures one lakh switchgear pieces per day and has the capacity to ramp them up to 1.5 times. Presently the utilisation capacity is around 60 per cent. The entire switchgear products are manufactured at Baddi (Himachal Pradesh).
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