Havells to Invest Rs 50-60 Crore to Expand the Existing Manufacturing Capacities of Air Conditioners at Ghiloth and Sricity locations
Today, Lloyd, a prominent consumer durables brand under Havells India, unveiled its strategy to boost the manufacturing capabilities of air conditioners at its Ghiloth and Sricity facilities. The plan aims to increase production to 15 lakh units annually at each location, up from the current 9 lakh and 11.2 lakh units respectively, to meet rising demand. The proposed investment for this expansion is estimated to be between INR 50 to 60 crores, financed through internal funds, with a targeted completion by the fourth quarter of the fiscal year 2025. Alok Tickoo, Executive Vice President of Lloyd, expressed, "As demand for our air conditioners grows, we are dedicated to enhancing our production to match market needs. Expanding our manufacturing units in Ghiloth and Sricity underscores our commitment to delivering top-quality products. This investment not only increases our capacity but also solidifies our position as a leading player in the consumer durables sector. We are confident that these improvements will enable us to better serve our customers and further drive growth for Lloyd and Havells India." Lloyd recently introduced its innovative Lloyd Stellar & Stylus air conditioner range and cutting-edge refrigerators featuring Rapid Cool Technology, capable of producing ice in just 29 minutes. Furthermore, it launched the Novante Fully Automatic Washing Machines and expanded its Google QLED TV lineup to include new 85-inch and 100-inch models, incorporating advanced far-field technology. Read the full article
