Havells to invest Rs 50-60 crore in air conditioner manufacturing capacities

Lloyd, a leading consumer durables brand from Havells India, announced today its plans to expand the existing manufacturing capacities of Air Conditioners at Ghiloth and Sricity locations to 15 lakh units per annum at each location, from the existing 9 lakh and 11.2 lakh units, respectively, in order to cater to the increased demand.

The total proposed investment for the above capacity enhancements will be in the range of INR 50 - 60 crores. The same will be funded through internal accruals and the expected date of completion is Q4 FY 2025.

Commenting on the development, Mr Alok Tickoo, Executive Vice President, Lloyd said "With the growing demand for our air conditioners, we are committed to enhancing our production capabilities to meet the market needs. The expansion of our manufacturing units in Ghiloth and Sricity underscores our dedication to providing high-quality products to our customers. This investment will not only boost our capacity but also reinforce our position as a leading player in the consumer durables sector. We are confident that these enhancements will enable us to serve our customers better and drive further growth for Lloyd and Havells India".

The brand has recently launched its industry-first designer Lloyd Stellar & Stylus air conditioner range, alongside industry-leading refrigerators equipped with Rapid Cool Technology capable of producing ice in just 29 minutes. Additionally, Lloyd introduced its latest Novante Fully Automatic Washing Machines and expanded its Google QLED TV lineup to include new 85-inch and 100-inch models, featuring advanced far-field technology.

Shares of Havells India Limited was last trading in BSE at Rs. 1838.95 as compared to the previous close of Rs. 1839.00. The total number of shares traded during the day was 44685 in over 2916 trades.

The stock hit an intraday high of Rs. 1873.00 and intraday low of 1836.05. The net turnover during the day was Rs. 82743825.00.

Source : Equity Bulls

Keywords

HavellsIndia INE176B01034 Lloyd ConsumerDurablesBrand Expansion ACManufacturingCapacity Ghiloth Sricity