On Wednesday, the shares of the leading Fast Moving Electrical Goods (FMEG) firm rose by 1.3 percent to ₹1,944.30 per share, following the company’s announcement of a ₹375 crore investment to expand its cable manufacturing capacity.
At 10:55 a.m., Havells India Ltd shares were trading at ₹1,915 per share, down 0.28 percent from the previous close price. The company has a market capitalization of ₹1,20,047 crore.
What News: Havells India Limited has announced plans to expand its cable manufacturing capacity at its Alwar location to meet increased demand. Currently, the company has an annual capacity of 32.90 lakh kilometers with around 70% utilization.
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The expansion will increase capacity to 41.20 lakh kilometers annually by March 2026, with an investment of approximately ₹375 crore.
Additionally, Havells is expanding its product portfolio to include kitchen appliances such as cooktops, hobs, chimneys, and other built-in appliances. This new venture is expected to create synergies with its existing range of small domestic appliances.
About the company: Havells India is India’s leading manufacturer of a wide range of industrial and consumer electrical goods. Last year, the company commissioned a new air conditioner plant in Sri City, Andhra Pradesh, and this year, the company is expanding its washing machine and cable capacities.
Havells operates across various business segments, with its cable business contributing 33% of overall revenue, switchgear accounting for 20%, and electrical consumer durables comprising 19.5%.
The Havells generates the majority of its revenue from the cables division (33%), followed by the electrical consumer division (22%), Lloyd business (16%), switchgears (13%), and lighting & fixtures (10%).
Over the last six months, shares of Havells India Ltd. have increased by 36%, and by 47% over the past year.
Financials: Havells India has seen a 10 percent annual revenue growth, increasing from ₹16,911 crore in FY22-23 to ₹18,590 crore in FY23-24. During the same period, the company’s net profit has also risen by 18 percent, from ₹1,072 crore to ₹1,271 crore.
Written by Omkar Chitnis
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