Havells India on Friday said it will invest ₹50-60 crore to expand existing manufacturing capacities of air-conditioners sold under brand Lloyd to cater to the increased demand. The consumer products company said that it is expanding capacity of manufacturing facility at Ghiloth to 15 lakh units per annum from the current 9 lakh units per annum.
At the same time, manufacturing capacity of the plant located in Sricity is also being expanded to 15 lakh per units from the existing 11.2 lakh units per annum.
“The total proposed investment for the above capacity enhancements will be in the range of ₹50–60 crore. The same will be funded through internal accruals and the expected date of completion is Q4 FY 2025,” the company added.
Growing demand
Alok Tickoo, Executive Vice President, Lloyd, said, “With the growing demand for our air conditioners, we are committed to enhancing our production capabilities to meet the market needs. The expansion of our manufacturing units in Ghiloth and Sricity underscores our dedication to providing high-quality products to our customers.”
The ongoing heatwave in several parts of the country has led to unprecedented demand for cooling products such as air-conditioners, coolers and refrigerators.
“This investment will not only boost our capacity but also reinforce our position as a leading player in the consumer durables sector. We are confident that these enhancements will enable us to serve our customers better and drive further growth for Lloyd and Havells India,” he added.
The brand recently launched its designer Lloyd Stellar & Stylus air conditioner range, alongside refrigerators equipped with Rapid Cool Technology. Additionally, Lloyd introduced its latest Novante Fully Automatic Washing Machines and expanded its Google QLED TV lineup to include new 85-inch and 100-inch models, featuring advanced far-field technology.