Havells to invest Rs130 crore at a facility in Rajasthan

1 Sept 2022 , 09:28 AM

Havells, a manufacturer of electrical products and appliances, announced on Wednesday that it intends to increase the production capacity of washing machines at its Ghiloth plant in Rajasthan. According to a regulatory filing by Havells, internal accruals would be used to fund this development.

The Ghiloth plant is already capable of producing 3 lakh units annually, and the business aims to increase that capacity to 3.8 lakh units annually.

It stated that the anticipated capacity expansion would be finished by June 30, 2023.

Having been founded in 2018, Havells Ghiloth is a 2,02,343 square metre facility that primarily produces air conditioners under the Lloyd brand.

Havells announced on Wednesday that it has started the process of establishing a cable production facility in Tumakuru, Karnataka, with an anticipated investment of Rs300 crore and a proposed annual capacity of 3,48,000 kilometres.

“Internal accruals will be used to pay for the entire investment. By March 2024, production at the projected Tumakuru facility is anticipated to start. In addition to the company’s current manufacturing facility in Alwar, Rajasthan, a proposed unit for cable manufacture at Tumakuru is also being considered “It read.

Havells’ revenue for the fiscal year that ended on March 31, 2022, was Rs13,888.53 crore.

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