Since taking charge of Havells India in 2014, Anil Rai Gupta, 52, has not only doubled the size of the electrical equipment company, but has also expanded its portfolio into newer markets like consumer durables. The Chairman and Managing Director, in an interview with Business Today’s Arnab Dutta, explains how he is planning to grow Havells by going deeper into the hinterlands, expanding manufacturing into components, and scaling back the overseas business. Edited excerpts:
Q: How has the recovery been since the second wave of Covid-19? Was the impact of the lockdowns any different than in 2020?
A: Overall, the business scenario looks positive now. Since the second wave, business activity has improved and is now in a much better state. After the lockdowns in mid-2021, positive momentum continued even up to Diwali (early-November). Since then, the markets have slowed a bit, but that’s temporary; it hasn’t impacted business much. Though the euphoria is not at the same level as it was before Diwali, overall the mood is better.
During the second wave, unlike in 2020, there wasn’t a complete lockdown. So plants were rolling and so were sales. While we didn’t witness pent-up demand after the lockdowns were lifted in mid-2021, sales were better.
Q: After the first wave, you expected a slow recovery in the B2B segment, while the B2C business bounced back. Has the scenario changed?
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