Havells India has finalized plans to establish a refrigerator manufacturing facility in Ghiloth, Rajasthan, with an investment of ₹480 crore. The facility is expected to add 1.4 million units to the company’s production capacity by the second quarter of FY27, according to a company filing.
This decision marks a shift for Havells, which previously outsourced refrigerator production. The company had initially proposed a capacity addition of 1 million units by the first quarter of FY26 with an investment of ₹350 crore, but the plan has now been revised upward.
In the September 2024 quarter, Havells reported a 7.5% year-on-year increase in consolidated net profit to ₹267.77 crore, compared to ₹249.08 crore in the same period last year.
On November 19, Havells’ share price gained 2.8% intraday to ₹1,664.1 on the Bombay Stock Exchange (BSE). At around 11:38 a.m., the stock was trading at ₹1,657.6, up 2.47% from the previous close, while the BSE Sensex rose by 1.33% to 78,370.08. The company’s market capitalization stood at ₹1,03,921.86 crore.
The refrigerator manufacturing facility is part of Havells’ broader strategy to enhance its production capabilities and reduce reliance on outsourced manufacturing.