Havells is one of the largest and oldest domestic electrical equipment companies in India. It started way back in 1958 and since then has continued to provide high-quality equipment to the Indian consumers. The company also has a range of home and kitchen appliances in the Indian market. Their superior quality and Indian background place them on 125th rank on the list of most reputed Indian companies.
The company also spreads out into various other sectors by owning local companies such as Crabtree, Lloyd, Standard Electric and Promtech. Currently, the company is doing business in 50 countries apart from India. These companies together with their core business let them manufacture a plethora of products for the domestic as well as industrial usage such as electric circuits, circuit protections, lightings, motors, AC, water purifiers, coolers, wires, fans and so on.
The company said in an interview with The Hindu Business Line that they want to become a full-fledged home appliance maker. Indian home appliance market has grown day and night in the past few years since the economy is performing very well. The sales are seeing new heights with the rise in the disposable income of the Indian households. This opportunity has been used by the new companies especially the Chinese ones to targets the new consumers. However, Havells want to be among the few Indian companies that use the opportunity to grow.
Havells, as mentioned earlier, is a highly reputed company among Indian consumers. Their home appliance products, however, are not so popular. The market is dominated by other players. Their motive is to expand Lloyd’s product range in the country. The company feels that launching a range of refrigerators will make them a complete home appliance brand as per comments by their Chairperson and MD Anil Rai Gupta.
Havells has promised to invest a whopping 1000 crore rupees in the market towards expansion. They have said that 400 crore rupees out of the 1000 crore will be spent for bringing up an air conditioner manufacturing facility in Rajasthan as a part of the greenfield unit. The other 600 crore rupees will be invested in the existing manufacturing plants all across the nation as a part of the brownfield.
Lloyd was acquired by Havells two years ago. With this company in their portfolio, the products now range from wires to deep freezers to TVs. This gives them an edge over other similar companies due to their long presence in the market and good reputation too. Indian companies are aiming for the stars now, as the local policies are favourable for them. Most of the market-related policies that have been released by the current government has been lauded by the local players in India. The latest of all is the new FDI policy that in a way devastated the plans of the global giants that owned huge stakes in Indian companies. This is a very good time for the Indian players and they should proactively take the decision to utilize the opportunity.