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Havells India said that it has started commercial production of cable at the company's new facility at Vasanthnarasapura Industrial Area, Tumakuru in the state of Karnataka.
The fast moving electrical goods maker further stated that in order to cater to the potential demand for cables, the company has decided to further expand its cable manufacturing capacity in the same facility at Tumakuru, from existing 3,48,000 Kms per annum to 4,62,600 Kms per annum, with an additional investment of around Rs 450 crore.
This investment is primarily towards augmentation of our capacity for higher size cables. The production through expansion at Tumakuru is expected to commence by September 2026. The entire investment will be funded through internal accruals.
Havells India is a leading fast moving electrical goods (FMEG) company and a major power distribution equipment manufacturer with a strong global presence.
The home appliance companys standalone net profit jumped 43.08% to Rs 411.18 crore on 20.2% increase in net revenue to Rs 5,798.11 crore in Q1 FY25 over Q1 FY24.
The scrip shed 0.19% to currently trade at Rs 1899 on the BSE.
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