### **Overview** Havells India Ltd is a leading **fast-moving electrical goods (FMEG)** and **consumer durable** company with a diversified portfolio across industrial, domestic, and infrastructure segments. Operating in **60+ countries**, Havells has transformed from a legacy electrical products supplier into a **technology-driven, brand-led conglomerate** with a strong in-house manufacturing base, robust R&D, and an omni-channel distribution network. Its acquisition of **Lloyd** in 2017 marked a strategic pivot into high-growth consumer durables, positioning it as a key player in air conditioners, refrigerators, and smart home appliances. --- ### **Core Business Segments** As of FY2025, Havells operates across five key business segments: | Segment | % of Sales (FY25) | Key Products | |--------|-------------------|------------| | **Cables** | 33% | Power & control cables, flexible cables, underground cables | | **Electrical Consumer Durables (ECD)** | 18% | BLDC fans, water heaters, air coolers, small appliances | | **Lloyd** | 24% | ACs, refrigerators, washing machines, LED TVs | | **Switchgears** | 11% | MCBs, MCCBs, circuit breakers, home automation switches | | **Lighting & Fixtures** | 8% | Consumer and professional lighting, decorative and architectural lighting | --- ### **Strategic Themes (2024–2025)** #### **1. Premiumization & Innovation** - **Bladeless DC (BLDC) Fans**: 40% of fan sales now come from BLDC models, with a rich portfolio of **Super Premium BLDC+** models featuring technologies like **Smart Sense AI**, **Direct Voice Command**, and **under-lights**. - **StunnAir Air Conditioner**: India’s first **AI-powered designer AC** with dual-louver technology, INDRI intelligent cooling, mood lighting, and **"Find Me & Miss Me"** personalized cooling. - **Havells TRON Series**: In-house developed **switchgear** range including QTRON MCCBs and **Arc Fault Detection Devices (AFDDs)** for residential fire safety. - **GenieLit Smart Lighting**: BLE mesh-enabled lighting that operates without Wi-Fi, promoting seamless smart home integration. #### **2. Manufacturing & Capacity Expansion** - **In-house Manufacturing**: Over **90% of products** are manufactured in-house across **16 state-of-the-art plants** (Haridwar, Baddi, Sahibabad, Neemrana, Tumakuru, etc.). - **New Tumakuru Plant (Karnataka)**: Operational in FY25, this 300,000 sq. ft. facility boosts capacity for **low-tension, control, and instrumentation cables**, strengthening South India presence. - **Sri City Plant Expansion**: Supports rising demand for **premium air conditioners (Luxuria collection)**. - **Flexible Strip Lighting**: Launched new SMT line for **flexible LED strip lights**, enhancing capabilities in home decoration. #### **3. Digital Transformation & D2C Strategy** - **Havells One SuperApp**: Over **1.32 million downloads**, integrates **shopping, service bookings, loyalty tracking, and IoT control**. - **AI WhatsApp Chatbot**: Serves **200,000+ users/month**, offering service requests, purchase support, and contract renewals. - **EPOS System**: Deployed in **brand stores** to shift from *sell-in* to *sell-out* model, enabling real-time analytics, better inventory, and CRM. - **Direct-to-Consumer (D2C)**: Revamped e-commerce portal with seamless checkout and brand engagement, supporting **self-service and quick commerce partnerships**. #### **4. Brand Portfolio & Omni-Channel Expansion** - **House of Brands Strategy**: Targets diverse price points and consumer segments: - *Havells*: Mass-premium, technology-led - *Lloyd*: Full-stack consumer durables, "mass premium" - *Crabtree*: Premium, design-focused, B2B - *Standard & REO*: Affordable, value-driven - **Retail Network**: - 1,000+ **Havells Galaxy** brand stores - 700+ **Havells Utsav** stores in rural India (<10,000 population) - Over **50 Havells Home Art Light** experiential stores - Dedicated **Fan SmartHub** stores for premium fan retailing - "Lloyd Gallery" stores launched via SSD channels #### **5. Sustainability & Smart Technologies** - **Solar Business**: Expanding footprint in **residential and C&I solar** with inverters, solar cables, and modules. - Strategic **partnership with Goldi Solar** for **module supply**, with plans for backward integration into cell manufacturing. - **Dual Mode Micro Inverter (DMMI)**: Patented technology allowing both **on-grid and off-grid operation**. - **EnTrack Energy Auditor**: IoT device for **real-time home energy monitoring**, aligning with smart energy trends. - **Sustainability in R&D**: **46.6% of R&D spend** allocated to sustainable technologies in FY25. #### **6. Rural and International Growth** - **Rural Vistaar**: Deep penetration in **3,000+ towns**; Havells is the **most widely distributed FMEG brand** in rural India. - **International Expansion**: - International sales contribute **19% of total revenue (FY24-25)**, up from near-zero three years ago. - **U.S. market entry** via **joint venture** for air conditioners and lighting. - **Middle East expansion** via partnerships with **Jumbo Group (UAE)** and **TeknoDome (Dubai)**. - Targeting **Europe, Australia, and AMESA** with localized operations. #### **7. Product Innovation & Launch Highlights (FY24–25)** | Brand | Key Launches | |-------|--------------| | **Lloyd** | - Luxuria ACs: **StunnAir**, **Stellar**, **Stylus**<br> - Kolors Refrigerators (aesthetic design)<br> - Mini-LED TVs (1400 nits, Dolby Vision)<br> - Rapid Cool tech (ice in 29 mins) | | **Havells** | - TRON & QTRON circuit breakers<br> - GenieLit smart lighting<br> - Convertible Air Cooler (doubles as table)<br> - SunLit Solar Series<br> - BLDC+ fans with built-in lights and AI | | **Lloyd/General** | - **ODV (On-Device Voice)**: No Wi-Fi needed for voice control<br> - **Hello Lloyd** AC feature (wake phrase)<br> - **Vita Dlight**: UVB-emitting wellness lighting | #### **8. R&D & Innovation Ecosystem** - **R&D Spend**: **1.19% of net sales** in FY24–25. - **Innovation Output**: **35.18% of revenue from new product development (NPD)**. - **Patents & Designs**: Filed **77 patents** and **211 design registrations** in FY24–25; total patents: **270+**, designs: **1,424+**. - **Centres of Innovation**: - **Bengaluru Innovation Centre**: IoT, AI, power electronics, software platforms - **Noida CRI (DSIR-accredited)**: NABL labs, simulation, rapid prototyping - New **greenfield R&D hub under construction in Noida** #### **9. Financial & Investment Outlook** - **Capex Plan**: - **₹1,450 crores (FY26)** - **₹1,000 crores (FY27)** - **Margin Expansion Drivers**: - Product premiumization - Cost rationalization - Productivity improvements - Shift to high-margin segments - **ECD Division**: Revenue grew to **₹4,011 crores (FY25)** from ₹3,482 crores (FY24), with **23.8% contribution margin**. - **Lloyd Division Revenue**: ₹3,785 crores (FY24), margin improvement from 4.4% to **7.9%**. --- ### **Key Strengths** - **In-house manufacturing**: Ensures **quality control, cost efficiency, and supply chain resilience** - **Innovation-led differentiation**: Proprietary tech in fans, ACs, lighting, and smart home ecosystem - **Omni-channel reach**: Over **14,000 dealers**, 10,000+ retail touchpoints, e-commerce, B2B, modern retail - **Brand strength**: Strong presence across **urban, semi-urban, and rural markets** - **Digital & IoT integration**: Full-stack ecosystem from hardware to cloud to app - **Sustainable growth model**: Balancing capital investment, margin expansion, and long-term brand building