Havells India announced that the company is investing Rs 1,000 crore over the next few years and make its foray into refrigerators.
The company is aiming at a Rs 10,000-crore topline in the 2018-19 fiscal, growing at about 20-25 per cent as against 2017-18.
“We will be investing Rs 1,000 crore in capex over the next few years. Out of this, Rs 400 crore would be spent on the Llyod air-conditioner plant in Rajasthan and the rest in brownfield expansions in several Havells India plants,” Havells India Chairman and MD Anil Rai Gupta said here.
He was speaking at the launch of a new range of Llyod ACs.
Havells had acquired Llyod two years back.
The greenfield plant in Rajasthan is expected to commence commercial production from April-May with a capacity to produce 6 lakh ACs a year.
The company claimed it had pumped in excess of Rs 600 crore in the last three-four years to grow capacity. Havells India’s own production accounts for 93 per cent of the goods it sells.
Gupta said it would continue to make Llyod a complete consumer durables brand with the launch of refrigerators.
“We already have expanded into TVs and washing machines, and will now introduce refrigerators. Efforts towards that direction has commenced. With this, we will cover the entire Rs 60,000 crore industry of consumer durables,” Gupta said.
The Llyod brand is expected to clock a Rs 2,000-crore topline out of the total Havells Group turnover of Rs 10,000 crore, in FY19′, he said.