Havells India Limited is an Indian multinational electrical equipment company, based in Noida. The company manufactures home appliances, lighting for domestic, commercial and industrial applications, LED lighting, fans, modular switches and wiring accessories, water heaters, industrial and domestic circuit protection switchgear, industrial and domestic cables and wires, induction motors, and capacitors among others. Havells owns brands like Havells, Lloyd, Crabtree, Standard Electric, Reo and Promptec.
 | |
| Company type | Public |
|---|---|
| ISIN | INE176B01034 |
| Industry | |
| Founded | 1958[1] |
| Founder | Qimat Rai Gupta |
| Headquarters | Noida, Uttar Pradesh, India |
Area served | Worldwide |
Key people | Anil Rai Gupta (Chairman & MD)[2] |
| Products | Fast Moving Electrical Goods |
| Revenue |  ₹18,839 crore (US$2.3 billion) (FY24)[3] |
| ₹1,271 crore (US$150 million) (FY24)[3] | |
Number of employees | 5,781 (2020)[4] |
| Divisions | |
| Website | www |
The company has 23 branches or representative offices with over 6,000 workers in over 50 countries. India's first Lloyd's exclusive outlet is acquired by businessman Rajan Bansal. The store is situated in western part of New Delhi, Paschim Vihar.[5][6] As of 2016, it has 11 manufacturing plants in India located at Haridwar, Baddi, Noida, Faridabad, Alwar, Neemrana, and Bengaluru.[7]
History
editIn 1958, Qimat Rai Gupta moved from Malerkotla to Old Delhi, where he set up an electrical equipment trading shop. In 1971, Haveli Ram Gandhi sold his switchgear company–Havells–to Gupta, who was his distributor at the time. The company subsequently entered other product segments such as cables, lightings, appliances, fans and geysers.[8]
In 1983, it bought the loss-making Delhi-based Towers and Transformers Ltd and turned it around in a year. Between 1997 and 2001, Havells also bought ECS, Duke Arnics Electronics, Standard Electricals and Crabtree India. There was a 50:50 joint venture between Havells and the UK-based Crabtree, and Havells later acquired Crabtree's stake in the JV.[9][10] In 2007, Havells acquired European lighting company Sylvania for about €200 million.[11][12] In 2010, Havells introduced ceramic metal-halide lamp.[13]
In April 2015, Havells acquired a 51% majority stake in Promptec Renewable[14] before increasing its stake in the company to 100% in 2018. In December 2015, Havells sold 80% stake in Sylvania Malta and Havells Exim Hong Kong to Shanghai Feilo Acoustics for ₹1,070 crore (US$166.79 million)[15] and sold the remaining 20% two years later.[16] In February 2017, it acquired the consumer durables business of Lloyd Electricals at an enterprise value of ₹1,600 crore (US$245.69 million).[17]
Recognition
editIn 2014, Havells was listed 125th among 1200 of India's most trusted brands according to the Brand Trust Report 2014, a study conducted by Trust Research Advisory.[18]
References
edit- ^ "1958". Retrieved 19 May 2016.
- ^ "Annual Report 2016-17" (PDF). Havells. 6 November 2017. Retrieved 6 November 2017.
- ^ a b "Havells Q4 results | Net profit at Rs 358 crore, beats estimates" (PDF). Retrieved 3 May 2024.
- ^ "Havells India Ltd. Financial Statements". moneycontrol.com.
- ^ "Havells Industrial on an overdrive and launches a product lounge on wheels". Engineering Review. Archived from the original on 25 April 2012.
- ^ "About Havells India Limited". Havells. Retrieved 19 May 2016.
- ^ Singh, A. "Havells Press Kit". havells.com. Havells India Ltd. Retrieved 1 November 2013.
- ^ Bhandari, Bhupesh (20 November 2014). "The unsung billionaire". Business Standard. Archived from the original on 24 November 2014. Retrieved 22 November 2024.
- ^ Jha, Mayur Shekhar (24 November 2005). "New lifestyle: Havell's India acquires Crabtree". The Economic Times. Retrieved 7 March 2023.
- ^ "How a smart turnaround strategy helped Havells to make a comeback". August 2013. Retrieved 19 May 2016.
- ^ "SLI Sylvania's lighting biz to give yields from 2010: Havells". The Economic Times. 21 December 2009. Retrieved 7 March 2023.
- ^ "When Havells Bought Sylvania". Forbes. Retrieved 7 March 2023.
- ^ "Havells India looks for acquisitions in China, Africa". The Economic Times. 23 February 2010.
- ^ "Havells acquires controlling stake in Promptec". Business Today. 20 April 2015. Retrieved 7 March 2023.
- ^ "Havells India to sell 80% stake in subsidiaries for ₹1,070 cr". Business Line. 10 December 2015. Retrieved 7 March 2023.
- ^ "Havells: The big switch". Fortune India. Retrieved 7 March 2023.
- ^ Shyam, Ashutosh R.; Barman, Arijit (19 February 2017). "Havells acquires consumer biz of Lloyd Electric for Rs 1600 cr". The Economic Times. Retrieved 7 March 2023.
- ^ "India's Most Trusted Brands 2014" (PDF). Archived from the original (PDF) on 7 December 2016. Retrieved 21 December 2016.