Havells India Limited is a leading Fast Moving Electrical Goods (FMEG) company and a major power distribution equipment manufacturer with a strong global presence. The company commenced trading operations in Delhi in 1958. It bought Havells brand in 1971. Havells India established the first manufacturing plant for rewirable switches and changeovers in 1976. It acquired Towers and Transformers Ltd in 1983 and made it a profitable Energy Meters company within 1 year._x000D_ _x000D_ Havells India Limited set up a new manufacturing plant for Changeover Switches in Sahibabad, UP, in 1990. After 3 years (1993), the company was listed on the NSE and BSE after an IPO. The company expanded its presence in India with the acquisition of a wires and cables plant in Alwar, Rajasthan, in 1996 from Surya Cable. As a result, the company forayed into the wires and cables sector._x000D_ _x000D_ In 2000, Havells acquired a controlling stake in industry major Standard Electricals Ltd. It expanded its presence in other sectors, such as fan, by establishing a manufacturing plant in Haridwar, Uttarakhand, in 2005. Standard Electricals Ltd was merged with Havells India Limited in 2011. The company rolled out its personal grooming business in 2017 and acquired the consumer durables business of Lloyd Electric and Engineers Ltd in the same year. As a result, it entered into other businesses such as air conditioning, LED TV and washing machines._x000D_

Business Segments

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• Switchgear: Under this segment, the company is involved in manufacturing domestic switch gears, capacitors, switches and industrial switch gears. The company derived ~12.6% of revenue from operations from the segment in FY 2023.
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• Cables: The company is engaged in making power cables and flexible cables under this segment. The segment generated 32.8% of revenue in FY 2023.
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• Lighting and Fixtures: Havells India Limited is engaged in the manufacturing of professional luminaires and consumer luminaires under this segment. The segment generated a revenue contribution of 9.5% in FY 2023.
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• Electrical Consumer Durables (ECD): Under this segment, the company manufactures fans, appliances and water heaters. The segment generated 19.5% of revenue in FY 2023.
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• Lloyd Consumer: The company is engaged in the production of air conditioners, televisions, washing machines and refrigerators through this segment. It derived ~4.9% of revenue in FY 2023.
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• Others: Under this segment, the company is engaged in the manufacturing of motors, solar pumps, water purifiers, and personal grooming products (PGPs). The company generated ~5.6% of revenue in FY 2023.
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Subsidiary

_x000D_ As of March 31, 2023, Havells India has one direct overseas subsidiary - Havells Guangzhou International Limited. It is based in China and is engaged in the manufacturing of heating equipment and other consumer products._x000D_

Key Personnel

_x000D_ Shri Anil Rai Gupta, Chairman & Managing Director_x000D_ _x000D_ Shri Anil Rai Gupta is the Chairman & Managing Director of Havells India Limited. He joined Havells in 1992 under the mentorship of his father, the Late Shri Qimat Rai Gupta. Under his leadership, the company expanded from industrial switchgear to consumer goods and, lately, to consumer durables with the acquisition of Lloyd. He is a graduate in economics from Sri Ram College of Commerce, Delhi University, and an MBA from Wake Forest University, North Carolina. _x000D_

Corporate Action

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• In 2010, the company announced a bonus issue in a ratio of 1:1 with a record date of October 08, 2010.
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Management Outlook

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• In the switches category, the company believes that the growing acceptance of smart and connected technologies is pushing the transition towards smart homes. Hence, the company is focused on the expansion of its smart portfolio and adding new product lines. 
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• Havells is optimistic that the increased government spending and focus on infrastructure development, health institutes, educational institutes, expansion of the 5G network, development of manufacturing hubs, etc., would likely be a growth driver for the cable business.
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