Havells to invest Rs 130 cr to expand washing machine production capacity

Electrical goods and appliance maker Havells said it is planning to expand washing machine production capacity at its Rajasthan's Ghiloth plant, where it will invest Rs 130 crore

Havells India
Havells India
Press Trust of India New Delhi
2 min read Last Updated : Aug 31 2022 | 4:48 PM IST

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.

"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.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Havells IndiaHAVELLSrajasthan

First Published: Aug 31 2022 | 4:48 PM IST

Next Story