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Havells rises after commencing production of washing machine

Capital Market 

Havells India gained 2.53% to Rs 1,406.95 after the company informed that it has started commercial production of washing machines at its Ghiloth plant from 19 November 2021.

Earlier on 12 February 2021, Havells announced that it is planning to set-up a new facility to manufacture washing machines in Ghiloth in Rajasthan with an estimated investment of Rs 65 crore and an annual capacity of 3 lakh units.

Havells India is a leading fast moving electrical goods (FMEG) company and a major power distribution equipment manufacturer with a strong global presence. The company's consolidated net profit declined 7.34% to Rs 302.39 crore on 31.65% rise in net sales to Rs 3,238.04 crore in Q2 FY22 over Q2 FY21.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, November 22 2021. 09:42 IST