Havells to invest Rs 50-60 crore in air conditioner manufacturing capacities

Havells to invest Rs 50-60 crore to expand its AC manufacturing capacities

Home appliances maker Havells will be investing Rs 50-60 crore to expand its manufacturing capacities of air conditioners at the Ghiloth and Sricity locations to 15 lakh units per year each, the company informed stock exchanges on June 13.

Havells' plants at Ghiloth in Rajasthan and Sricity in Tamil Nadu have existing production capacity of 9 lakh and 11.2 lakh units, respectively. The decision to increase capacity has been taken in order to cater to the increased demand, the company said. The expansion will be funded through internal accruals and is likely to be completed in Q4FY25.

Havells India has been undertaking  capacity expansion across categories, to ride on in-house manufacturing.  Over the past five years, Havells claims to have invested over Rs 2,100 crore as capital expenditure towards the electrical goods portfolio and the Lloyd brand. The Sricity plant has been set up to handle a capacity of 1 million AC units per annum.