Havells India Makes US Debut with Major Investment and New Product Launches

India/USA: Havells India has become the first Indian electronic company to introduce its own brand in the US, selling air conditioners, cables, and lighting items. This year, the company plans to invest ₹1,000 crore (USD 120 million) in establishing new facilities and investigating the production of AC compressors.

Moreover, the company has introduced ACs for the US market under the Lloyd brand, available through Lowe's e-commerce platform. The company is also establishing two joint ventures in the US for selling and distributing air conditioners and luminaires, in which Havells India will own a 75–90% stake.

The company aims to capture 35–40% of its foreign business from the US in the next four to five years. In FY24, the company reported revenues of ₹18,550 crore (USD 2.2 billion) and a net profit of ₹1,273 crore (USD 152 million).

Source: IIFL Securities