Shares of Havells India surged nearly 3% on Tuesday after the company announced plans to invest Rs 480 crore to establish a new refrigerator manufacturing plant in Ghiloth, Rajasthan. This marks a significant expansion in its production capabilities, following an earlier announcement in August 2023.
The new facility is expected to add 14,00,000 units to Havells’ annual production capacity. The company aims to complete the setup by the second quarter of FY27. The investment will be financed entirely through internal accruals, showcasing Havells’ strong financial position.
This expansion is expected to enhance Havells’ backward integration, reduce production costs, and achieve economies of scale, further strengthening its market presence in the competitive home appliance industry.
As of 11:19 AM, Havells India shares were trading 2.58% higher at ₹1,660.90 on the NSE, reflecting positive investor sentiment following the announcement.
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