Havells commences manufacturing of washing machinesHAVELLS - 1098 Change: -0.40 (-0.04 %)
News: Havells India has started manufacturing washing machines in its new facility at Ghiloth, Rajasthan. The plant has a total production capacity of 3 lakh units and can also be expanded to 5 lakh unit/annum as per requirements.
Views: Currently, AC contributes ~70% to overall Lloyds revenues. Havells plans to expand its product portfolio (refrigerators and washing machines) under Lloyds brand by leveraging its existing dealer networks. Lloyds has ~10,000 direct and indirect dealers across India. We believe a favourable base and new product launches will help drive Lloyd’s revenue at a CAGR of 27% in FY21-24E (faster than Havells' overall revenue CAGR of 21%). Lloyds contributes ~16% to Havells' overall topline (Rs.10428 crore in FY21).