Havells pumps Rs 50 cr in Rajasthan, aims 10-11% growth in FY14

KOLKATA: Havells India Limited, a leading FMCG and electrical company, is investing in a new home appliance facility at Neemrana, Rajasthan.

"We are investing Rs 50 crore at Neemrana facility to manufacture home appliances. To begin with it will be with gysers. The plant will be operational from February next year," Havells associate director Y K Gupta said.

He was here to launch a range of products including, new air-fryer.

The company already has India's first large scale lighting fixture plant at Neemrana and is now expanding into new products.

Home appliances business which stood at Rs 200 crore is projected to jump to Rs 500 crore by 2015, the company said.

The company's domestic market accounted for Rs 7,248 crore while Rs 3,000 crore turnover came from overseas during the last fiscal.

It aimed at a growth of 10-11 per cent in FY14. Havells said the total debt in the books of London based Havells Sylvania, subsidiary of Havells India, has come down to close to 80 million Euros and the loan had been rescheduled this year.

"The initial loan was 220 million Euros when we acquired it in 2007 and that had been reduced to 80 million now. The repayment will be done through internal accruals of Havells Sylvania and there is no stress in that," Havells officials said.