Havells India to invest $139.3 mln in its operations over next few years

Havells India, an electrical equipment manufacturing company, plans to commit 1,000 crore rupees ($139.3 million) over the next few years and make its foray into refrigerators.

The company said out of the $139.3 million, $55.7 million will be spent on the Llyod air-conditioner (AC) plant in Rajasthan and the rest in brownfield extensions in several of the company’s plants.

The greenfield plant in Rajasthan, which Havells bought two years back, is expected to start commercial production from April to May with a capacity to produce 600,000 ACs a year.

The domestic appliances maker is aiming at a $1.3 billion topline in 2018 to 2019 fiscal, growing at about 20 to 25 percent as against 2017 to 2018.