Havells India, a leading electrical and consumer product company in India, has announced its plan to open a manufacturing facility in Karnataka and getting into other product categories.
In an interaction with Deccan Herald, Havells India CMD Anil Rai Gupta said the company has 10 manufacturing facilities spread across the country.
“Our manufacturing presence in South India is less so there is a requirement for a manufacturing facility in Karnataka. It will most likely come out side of Bengaluru,” he said. Gupta said the company has allotted Rs 150 crore as capex for 2016. Gupta said the company will double its turnover by 2020 and this will be made possible by inorganic growth and more focus on the Indian market.
“We have divested 80 per cent stake in Sylvania, our lighting business, to Chinese Shanghai Feilo Acoustics. This strategic move will give enough money for inorganic growth and to focus more on India business,” he said.
He said the company is going through slump in few vertical as the global economy is also going through a down slide. “But India is on sweet spot as demand is picking up which will help us to bounce back. Also, the government is giving thrust on electricity generation and more villages are connected by electricity. New technologies are also enhancing the pace of our growth,” he said.
Commenting on the consumer durables of the company, he said the company entered this segment 10 years ago and it is now Rs 1,200 crore business and contributes 25 per cent of the topline.
“Right now we have categories like fans, water heaters, domestic appliances, and domestic pumps. We are trying to double the revenue by three years instead of four years,” he said. Gupta said the company which launched water heaters this year will also launch air purifiers in the country.
He said technologies are transforming life and electrical goods are moving towards electronics. “It gives electrical products more communication oriented and there is the emergence of IoT. Havells focuss is to make products more smart and solar enabled in all four categories,” he said.
