Havells India to invest Rs. 1,500 crore in 5 years
Havell’s India Limited has firmed up plans to invest Rs. 1,500 crore in five years, including Rs. 360 crore in the AC manufacturing unit under brand Lloyd.
The management is planning to start an air conditioner unit in Ghilot in Rajasthan, about 100 km from Delhi, which will be operational by March 2019. It will have a capacity of about 6 lakh units a year, initially.
Also, the company plans to invest in the expansion of its R&D facility in Bengaluru. The design studio and research facility with a focus on Internet of Things (IoT) applications hiring at least 100 engineers and researchers.
In addition to a total of Rs. 450 crore invested this fiscal, Havells is planning to spend Rs. 1,000 crore in the next four years on expanding and strengthening its presence in lighting, motors and pumps, consumer products, industrial segment, geysers, ACs etc, said management
On Monday, the stock opened at Rs. 717.85 per share and touched a High/Low of 717.85/706 per share.