Havells India advances on revising trademark license agreement

The announcement was made before market hours today, 7 January 2013.

Meanwhile, the BSE Sensex was up 21.20 points or 0.11% to 19,805.28

On BSE, 11,625 shares were traded in the counter as against average daily volume of 28,984 shares over the past one quarter.

The stock hit a high of Rs 655.45 and a low of Rs 644.80 so far during the day. The stock had hit a record high of Rs 672 on 11 October 2012. The stock had hit a 52-week low of Rs 403 on 6 January 2012.

The mid-cap stock outperformed the market over the past one month till 4 January 2013, rising 5.77% compared with Sensex's 2.25% rise. The scrip had, however, underperformed the market in past one quarter, falling 1.77% as against Sensex's 3.81% gain.

The company has equity capital of Rs 62.39 crore. Face value per share is Rs 5.

Havells India said that QRG Enterprises, one of the promoter companies, which owns the brand name 'Havells', has entered into a revised trademark license agreement (TLA) with the company pursuant to which the brand will be transferred to the company for no consideration, with effect from 1 April 2016. It may be noted that the existing TLA between the companies is expiring in financial year 2015-16.

Havells India's net profit rose 23.8% to Rs 86.97 crore on 13.5% growth in net sales to Rs 958.12 crore in Q2 September 2012 over Q2 September 2011.

Havells India is one of the largest electrical and power distribution equipment manufacturer, with products ranging from industrial and domestic Circuit Protection Switchgear, Cables & Wires, Motors, Fans, Power Capacitors, CFL Lamps, Luminaires for domestic, commercial and industrial applications, Modular Switches, Water Heaters and Domestic Appliances covering the entire gamut of household, commercial and industrial electrical needs.

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