Electrical Goods

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Assets worth Rs 150 crore, which were fully insured, were affected in the massive fire at its Neemrana-based manufacturing unit, said consumer electrical goods manufacturer Havells India. On July 27, a massive fire had broken out at Havells factory at Neemrana in Rajasthan's Alwar district. There was no human loss/injury and the entire building, plant and machinery, and inventories at the Neemrana plant were fully insured, said a regulatory update from Havells India. "The company has now ascertained the book value of the assets affected due to the incident as around Rs 150 crore, which is fully insured," it said. Havells' Neemrana unit is the largest and most automated water heater plant in India. Established in 2004 and spread over 1,94,249 square metres, Havells also manufactures lighting fixtures, CFLs, HID lamps and motors here. For the financial year ended on March 31, 2022, Havells India's revenue was at Rs 13,888.53 crore.

Shroff, who was leading the company for the last five years, will move to a new role as senior advisor to both Advent International and Eureka Forbes Ltd, said a company statement

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Margin performance will be an additional trigger going ahead

The items include automobiles and gadgets like smartphones, laptops, consumer electronics like television, white goods, electrical appliances, etc

Demand recovery, however, has been strong which could help partially offset cost inflation

Rakesh Jhunjhunwala's Rare Enterprises said the company will invest in Uttamchandani family-promoted Syska LED, which will help the fast-moving electrical goods company in its next phase of growth

Consumer electrical goods maker Havells India Ltd on Wednesday reported nearly four-fold jump in its consolidated net profit at Rs 235.78 crore for the first quarter ended June 2021.

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Apprehensions of deficient rains likely to increase demand for power back up devices like generators

The company has launched Made in India water heaters, which use colour changing LED technology to communicate different temperature levels