 "Havells to invest Rs 130 cr to expand washing machine production capacity")
Electrical goods and appliance maker Havells on Wednesday said it is planning to expand washing machine production capacity at its Rajasthan's Ghiloth plant, where it will invest Rs 130 crore.
This expansion would be financed through internal accruals, said Havells in a regulatory filing.
The Ghiloth plant already has the capacity to roll out 3 lakh units per annum and the company plans to add an additional capacity of 3.8 lakh units per annum.
The proposed capacity addition would be done by June 30, 2023, it added.
Established in 2018, Havells Ghiloth is spread over 2,02,343 square metres and primarily manufactures air conditioners under the brand Lloyd.
On Wednesday, Havells said it is now beginning to set up a cable manufacturing unit at Tumakuru in Karnataka for a proposed annual capacity of 3,48,000 kilometer with an estimated investment of Rs 300 crore.
Also Read
"The entire investment will be funded through internal accruals. The production at the proposed unit at Tumakuru is expected to commence by March 2024. The proposed unit for manufacturing of cable at Tumakuru is in addition to the existing manufacturing facility of the company at Alwar, Rajasthan," it said.
During the financial year ended on March 31, 2022, Havells revenue stood at Rs 13,888.53 crore.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)