Havells to invest Rs 130 cr to increase washing machine production capacity


Electrical goods and appliance maker Havells said on Wednesday it plans to expand washing machine production capacity at its Ghiloth factory in Rajasthan, where it will invest Rs 130 crore.

That expansion would be funded by internal accruals, Havells said in a regulatory filing.

The Ghiloth plant already has the capacity to deploy 3 lakh units per year and the company plans to add additional capacity of 3.8 lakh units per year.

The proposed capacity addition would be made by June 30, 2023, he added.

Founded in 2018, Havells Ghiloth covers 2,02,343 square meters and mainly manufactures air conditioners under the Lloyd brand.

On Wednesday, Havells said he was now starting to set up a cable manufacturing unit at Tumakuru in Karnataka for a proposed annual capacity of 3.48,000 kilometers with an estimated investment of Rs 300 crore.

“The entire investment will be funded by internal accruals. Production of the proposed unit at Tumakuru is expected to commence by March 2024. The proposed cable manufacturing unit at Tumakuru is in addition to the the company’s existing manufacturing facility in Alwar, Rajasthan,” he said.

During the financial year ended March 31, 2022, Havells revenue amounted to Rs 13,888.53 crore.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Previous Pulp and Paper Machinery Market 2022 Growth Statistics, Business Plans, Cost Analysis, Revenue, Growth Drivers, Size and Forecast to 2030
Next Rise in Surgical Cases to Boost Global Anesthesia Machines