Havells aims for Rs.500 crore business in Karnataka

Leading electrical equipment manufacturer Havells India on Monday said it has intensified its focus on Karnataka's rural market and aims to earn Rs.500 crore in revenue by March 2016.

"Havells clocked Rs.450 crore revenue in 2014-15 in Karnataka.. we plan to achieve Rs.500 crore revenue by March next year," said corporate communications head Anil Sharma at the launch of its new switchgear products.

Ramping up its dealer network by another 100-150 from the existing 400 is one of the thrust areas for the achieving the target, he said.

Havells launched its made in India domestic switchgears MCB and RCCBs under Euro-II series.

"The new range of products will provide enhanced safety, security and appeal. The company already is a market leader in domestic switchgear business in the country with over 28 percent market share," said switchgear segment head A. V. Jagdish, adding the organized market is in the segment is estimated to be between Rs.2,100 to Rs.2,200 crore.

"For Havells, switchgear business is the most profitable segment while cables segment contributes the highest turnover," added Jagdish without giving the exact numbers.

Havells is expanding its base in Latin America and Africa and considers those markets to be good markets like India, but has no investment plans in the foreseeable future.

The $1.4 billion dollar company operating in 50 countries clocked revenues of Rs.8,500 crore in 2014-15 globally and Rs.5,200 crore in India. It has 12 manufacturing plants in India and eight overseas.