Electronics goods manufacturer Havells India Limited is open to setting up a production unit in Gujarat if it finds a suitable opportunity for it. The company also aiming to double its business in Gujarat over the next three years.
Chairman and managing director Anil Rai Gupta visited Indian Institute of Management Ahmedabad (IIM-A) to interact with students and talk about the book 'Havells: The Untold Story of Qimat Rai Gupta' that he has recently authored on the founder of Havells - Qimat Rai Gupta.
"Gujarat is a fast moving state and it is important business place for us. We are open to setting up a manufacturing facility in the state if we find some good opportunity for that. However, there is no concrete plan to enter in the state in near future," said Anil Rai Gupta.
Currently the company is in a process to set up production unit in Bangalore. Delhi-based Havells has 10 plants across seven locations, and its proposed plant on a 50-acre plot near Bangalore would be its first outside north India.
The company does sales of Rs 250 crore in Gujarat and is aiming to double it in next three years. Gupta said, "We have set a target to get a business of Rs 500 crore from Gujarat in the next three years. With this we are aiming to double our share of exports during the time from current 5% to 10%."
Havells produces cables and lighting products to switches and motors, among others, for both domestic and industrial applications. The company earned Rs 8,000 crore of revenue in the fiscal year ended March 2015. The company reported an increase of 3.92% in standalone net profit at Rs 120.77 crore for the December quarter in current financial year.
