By 121 News
Chandigarh 14th September:- Havells India Limited, today unveiled world's most modern electric water heaters plant at Neemrana, Rajasthan. The plant was inaugurated by Smt. Vasundhara Raje, Hon'ble Chief Minister of Rajasthan alongwith Anil Rai Gupta, CMD, Havells India Ltd. in the august presence of Mahant Chand Nath, MP from Alwar, MLAs from the region and other distinguished guests including senior company officials.
Havells water heater plant would be part of the 40 acre Havells Neemrana complex and is the company's first manufacturing facility in home appliances segment. With this addition, the company would now have twelve manufacturing units in India. The company has invested Rs.100 crore to set the plant apart from land and building. The water heater plant is designed to have minimal manual intervention while significantly enhancing productivity. The company will manufacture storage water heaters with a capacity ranging from 10 to 120 liters. The plant has a manufacturing capacity of 5, 00,000 units per annum and will initially manufacture 3,00,000 units per annum. With the new plant, the company will be manufacturing the entire range of water heaters and cut its dependence on imports. The plant is in line with the company's policy of manufacturing its products in-house.
Speaking on the occasion, Anil Rai Gupta, Chairman and Managing Director, Havells India Limited, said that this is a momentous moment for us as we synergize environment and cutting edge technology to unveil our twelfth manufacturing plant. This plant is part of our commitment to 'Make in India' program which we have been following since the launch of our first plant in 1976. Today, we manufacture almost 95% of our products in-house. He further added that augmenting our capabilities, Havells highly-automated Water heater plant is another step in realizing our dream of self-sufficiency. We will continue to make necessary investments in realizing our dreams further. The plant will enable us not only to manufacture safe and high quality products but also help us achieve better market share. The soon to be expected revival in the housing sector will further our market shares.
Anil Rai Gupta said that the current market size of electric water heater in India is estimated to be Rs. 1500 crore per annum which is expected to grow around 10-12% in the coming years. With the launch of new plant, the company is looking to enhance its market share in electric water heaters segment from 10% to 21% with revenues of around Rs 400 crore in the next 2-3 years.
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