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Havells eyes 11% growth in FY14

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KOLKATA: FMCG and electrical company, Havells India is looking at a growth of 10-11 per cent in the current fiscal 2013-14.

The company is investing a whopping Rs 50 crore for new home appliance facility at Neemrana - Rajasthan, said Havells associate director Y K Gupta in Kolkata on Thursday, on the sidelines of launching a range of products including, new air-fryer.

Tollywood actress Rituparna Sengupta launched a new range of home appliances.

The company said the total debt in the books of London based Havells Sylvania, subsidiary of Havells India, has come down to close to € 80 million and the loan had been rescheduled this year.

"The initial loan was € 220 million when we acquired it in 2007 and that has been reduced to € 80 million now. The repayment will be done through internal accruals of Havells Sylvania and there is no stress in that," Havells officials said.

The company already has a large scale lighting fixture plant at Neemrana and is now expanding into new products. The plant is expected to be operational from February next year. Home appliances business which stood at Rs 200 crore is projected to jump to Rs 500 crore by 2015, the company said.

The company's revenue accounted for Rs 7,248 crore while Rs 3,000 crore was the turnover came from overseas during the last fiscal.

"We are happy to launch two of our topline products during the festive period of Durga Puja. Food has always been an integral part of our celebrations and this Puja one can enjoy healthy food with the newly launched airfryer," ended Gupta.

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