Havells India announced that it has commenced commercial production of air-conditioners (ACs) at its Sri-City plant in Andhra Pradesh with effect from 17 March 2023.
The announcement was made on 17 March 2023, post market hours.Earlier, on 6 July 2022, the company had intimated the exchanges with regard to setting-up of a new facility to manufacture air-conditioners at Sri City, Chittoor district in the state of Andhra Pradesh. The commercial operations started on 17 March 2023.
Havells India is a leading fast moving electrical goods (FMEG) company and a major power distribution equipment manufacturer with a strong global presence.
The company reported 7% drop in standalone net profit to Rs 284 crore despite a 13% increase in net revenue to Rs 4,120 crore in Q3 FY23 over Q3 FY22.
The scrip fell 2.20% to currently trade at Rs 1,165.90 on the BSE.
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