Havells to Invest USD 7 million in Expanding AC Production Capacities

India: Home appliances maker Havells has announced an investment of Rs 50-60 crore (USD 6-7.1 million) to expand its air conditioner manufacturing capacities at its Ghiloth (Rajasthan) and Sricity (Tamil Nadu) locations to 1.5 million units per year each.

Currently, Havells' Ghiloth plant has a production capacity of 900,000 units, while the Sricity plant has a capacity of 1.12 million units. The expansion is aimed at meeting the rising demand for air conditioners. The project will be funded through internal accruals and is expected to be completed by the fourth quarter of FY25.

Havells India has been expanding its manufacturing capacities across various categories to boost in-house production. Over the past five years, the company has invested over Rs 2,100 crore (USD 251 million) in capital expenditure for its electrical goods portfolio and the Lloyd brand. The Sricity plant has been designed to handle an annual capacity of 1 million AC units.

Source: Money Control