Havells India Ltd Share Price – NSE  /  BSE

Consumer Durables, Mid Cap

Lloyd announced the launch of its industry-first designer Lloyd Stellar & Stylus air conditioner range, alongside industry-leading refrigerators equipped with Rapid Cool Technology capable of producing ice in just 29 minutes. Additionally, Lloyd introduced its latest Novante Fully Automatic Washing Machines and expanded its Google QLED TV lineup to include new 85-inch and 100-inch models, featuring advanced far-field technology.

This industry-leading move underscores the brand's dedication to innovation, research and development in its product offerings, securing its position as one of the top air-conditioning manufacturing companies in India. By extending its manufacturing operations beyond the Ghiloth facility, which produces air conditioners and washing machines, the company has recently launched a new air conditioner manufacturing plant in Sri City. This facility boasts an annual production capacity of 1 million air conditioners, thereby increasing the company's total annual production capacity to 2 million units. This strategic move is poised to solidify Lloyd's position in the AC manufacturing sector significantly.

With its expanded manufacturing capabilities, Lloyd is set to offer more than 120 models of air conditioners, underlining its commitment to strengthening its foothold in the domestic consumer durables market. The brand is also making significant strides on the international front, exporting its world-class air conditioners to 30 countries. This strategic expansion not only highlights Lloyd's dedication to quality and innovation, but also its growing influence in the global market.

The introduction of the Stellar & Stylus series caters to the nuanced preferences of discerning Indian consumers, who have begun to view their homes as extensions of their identity and a medium for social expression. There's a noticeable shift towards investing more in home aesthetics, with more consumers desiring to infuse their living spaces with both cutting-edge technology as well as superior design. This evolution in consumer behaviour illuminates a burgeoning demand for designer air conditioners that not only complement the interior decor but also deliver a top-notch cooling performance.

Powered by Capital Market - Live News

The company expects the new venture to bring benefits of synergies of business with its existing range of small domestic appliances.

Havells aims to be one of the top 3 (three) market players over a period of next 3 years from the start of operations.

The entire range of products will be outsourced and serve the domestic market. The expected date of launch of the above category of products is May 2024,” the company said in a statement.

Havells India is a leading fast moving electrical goods (FMEG) company and a major power distribution equipment manufacturer with a strong global presence.

The company's consolidated net profit rose 1.55% to Rs 287.91 crore on 6.94% increase in revenue from operations to Rs 4,413.86 crore in Q3 FY24 over Q3 FY23.

The scrip fell 1.16% to currently trade at Rs 1522.95 on the BSE.

Powered by Capital Market - Live News

Havells India introduced its latest innovation with the launch of first time Made in India Heat Pump Water heater. Tailored to meet the demands of residential applications, this cutting-edge technology offers up to 75% energy savings, setting new standards in water heating.

Designed with a specific focus on addressing concerns about energy wastage and the adequacy of hot water, the revolutionary Havells Heat Pump offers a solution that allows you a seamless bathing experience, while consuming only ¼energy cost compared to conventional water heaters.

Powered by Capital Market - Live News

Havells India announced that the Board of Directors of the Company at its meeting held on 23 January 2024, inter alia, have recommended the interim dividend of Rs 3 per equity Share (i.e. 300%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News