Yes, it has a strong brand recall, grown consistently over the past decade and has aggressive expansion plans. So, is Havells India on track to double its revenues by 2022?
INDIA’S ELECTRICAL GOODS INDUSTRY has been plagued by demand short-circuit over the past 18 months or so. Hobbled by glitches in the implementation of the Goods and Services Tax (GST) for much of last year, demand for electrical goods and consumer durables suffered further outage due to the liquidity squeeze caused by the ongoing NBFC crisis. An extended winter this year which delayed the purchase of cooling products as well as impending elections added to the woes.
Things are not expected to get better anytime soon as the liquidity crisis is seen lingering for at least a couple of quarters more. So in such circumstances what are the players in the sector supposed to do? Sit quietly and wait for the headwinds to subside or pave the ground for future growth?
Havells India, the largest electrical equipment maker in the country, has taken the demand slowdown in its stride and proceeded to give shape to its long-term growth targets that were firmed up in late 2018. The company, which also makes consumer durable products, is planning to reinvent itself by developing next-generation products and solutions, as part of its target to double its revenues to Rs 20,000 crore by 2022. It has earmarked Rs 1,500 crore to be invested over a five-year period. Out of this, Rs 360 crore is being pumped into an AC manufacturing unit.
“Last financial year, we grew more than 20 percent and have reached Rs 10,000 crore in revenues. So we don’t see that Rs 20,000-crore (revenue) vision as something which is not achievable. Both Lloyd, as well as Havells’ businesses, are on the right growth track,” Anil Rai Gupta, Chairman, and Managing Director, Havells India told BW Businessworld.
Denne historien er fra June 22, 2019-utgaven av Businessworld.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra June 22, 2019-utgaven av Businessworld.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.