The company also announced investments to increase the manufacturing capacities of air conditioners at its Ghiloth and Sricity plants, aiming to meet the growing market demand.
Home-grown global electronics and electrical goods manufacturing firm Havells has now announced that it will set up a new refrigeration production facility in Rajasthan with an investment of Rs 450 Crore. A year back, the company also hinted that the new manufacturing unit in the Ghiloth region in Rajasthan would commence operations by early 2025.
The plant is projected to have an annual production capacity of 1.4 million units and is expected to commence operations by the second quarter of the fiscal year 2026-27 (Q2 FY27). This investment will be funded through the company’s internal accruals. The strategic rationale behind setting up this facility includes achieving backward integration and leveraging economies of scale. By manufacturing refrigerators in-house, Havells aims to enhance operational efficiency and reduce reliance on external suppliers.
A few days back, the company reported a 7.5 percent increase in consolidated net profit, reaching Rs 267.77 crore for the quarter ending September 2024. Improved consumer demand trends primarily drove this growth. Havell’s revenue from operations rose by 16.38 percent to Rs 4,539.31 crore during the same period. This growth was attributed to a broad-based upsurge in demand and a strategically advanced marketing push due to the festive season shift.
This initiative aligns with Havells’ broader expansion plans in the consumer durables sector. Earlier this year, the company announced investments to increase the manufacturing capacities of air conditioners at its Ghiloth and Sricity plants, aiming to meet the growing market demand. Overall, these developments underscore Havells India’s commitment to strengthening its manufacturing capabilities and expanding its consumer appliance market footprint.
