Page 2 - Havells

Havells Q2 net profit dips 38% to Rs 187 cr, revenue rises 13.6%

Havells India Ltd on Wednesday reported a 38.15 per cent decline in its consolidated net profit to Rs 187.01 crore for the second quarter ended on September 30, 2022, as commodity inflation hit its margins. The consumer electrical goods maker company had posted a consolidated net profit of Rs 302.39 crore in the July-September quarter a year ago, Havells said in a regulatory filing. Havells' revenue from operations rose by 13.63 per cent to Rs 3,679.49 crore during the period under review as against Rs 3,238.04 crore in the corresponding period last fiscal. Its total expenses were at Rs 3,471.57 crore, up 21.10 per cent during the second quarter of FY 2022-23 as against Rs 2,866.54 crore. Havells India Chairman and Managing Director Anil Rai Gupta said: "Decent revenue growth considering the inflationary environment. Margins adversely impacted due to commodity cost fluctuation." "We believe that margins have hit the trough and are expected to improve hereon. The demand outlook rem

Updated On : 19 Oct 2022 | 8:06 PM IST

Havells to invest Rs 130 cr to expand washing machine production capacity

Electrical goods and appliance maker Havells on Wednesday said it is planning to expand washing machine production capacity at its Rajasthan's Ghiloth plant, where it will invest Rs 130 crore. This expansion would be financed through internal accruals, said Havells in a regulatory filing. The Ghiloth plant already has the capacity to roll out 3 lakh units per annum and the company plans to add an additional capacity of 3.8 lakh units per annum. The proposed capacity addition would be done by June 30, 2023, it added. Established in 2018, Havells Ghiloth is spread over 2,02,343 square metres and primarily manufactures air conditioners under the brand Lloyd. On Wednesday, Havells said it is now beginning to set up a cable manufacturing unit at Tumakuru in Karnataka for a proposed annual capacity of 3,48,000 kilometer with an estimated investment of Rs 300 crore. "The entire investment will be funded through internal accruals. The production at the proposed unit at Tumakuru is expect

Updated On : 31 Aug 2022 | 4:48 PM IST

Insured assets worth Rs 150 cr affected in fire at Neemrana unit: Havells

Assets worth Rs 150 crore, which were fully insured, were affected in the massive fire at its Neemrana-based manufacturing unit, said consumer electrical goods manufacturer Havells India. On July 27, a massive fire had broken out at Havells factory at Neemrana in Rajasthan's Alwar district. There was no human loss/injury and the entire building, plant and machinery, and inventories at the Neemrana plant were fully insured, said a regulatory update from Havells India. "The company has now ascertained the book value of the assets affected due to the incident as around Rs 150 crore, which is fully insured," it said. Havells' Neemrana unit is the largest and most automated water heater plant in India. Established in 2004 and spread over 1,94,249 square metres, Havells also manufactures lighting fixtures, CFLs, HID lamps and motors here. For the financial year ended on March 31, 2022, Havells India's revenue was at Rs 13,888.53 crore.

Updated On : 19 Aug 2022 | 4:44 PM IST