Domestic companies have shown that “India has the capacity to build world class products,” said Havells India Chairman Anil Rai Gupta. “Now we are offering quality products at competitive prices …here return on capital and equity is highest, which is indicative that consumer is willing to pay price for the good
“Competition would be there (from China) but it is coming down gradually,” he said. Havells a Rs 8,000crore group is committed to ‘Make in India’ initiative of the Modi government, he said, adding, business scenario has improved under the new government and things are moving in the right direction.
Havells has launched first ‘made in India’ new range of MCB (Miniature Circuit Break) and is aiming for Rs 650 crore revenue from such devices by end of FY 2017. The company has also launched a 5star rated fan claiming to reduce the electricity bills by 17 per cent.
In the fan segment, Havells is targeting a revenue of Rs 1,000 crore in next two years with 16 per cent market share. Havells generates around 40 per cent of its revenue from international business and is expecting the contribution from the domestic markets to go up.
“In the international markets, growth would be smaller compared with domestic market, unless we do some more acquisitions abroad. May be this could go up to 65 per cent next year,” he added.
Apart from that Havells is also pushing another brand Standard in the circuit protection devices and is aiming for Rs 1,000 crore revenue by 2020 from it.
Havells has three R&D centers based in India, China and Europe and is pushing toward innovation driven products. It owns brands as Havells, Crabtree, Sylvania, Concord, Luminance and Standard. The group has 11 plants across Europe, Latin America, Africa and China with a distribution network of 20,000.