HAVELLS INDIA LIMITED

Havells India Limited is a fast-moving consumer electrical/electronics and power distribution equipment manufacturer with products ranging from Industrial and Domestic Circuit Protection Switchgears, Cables, Motors, Pumps, Solar Products, Fans, Power Capacitors, LED Lamps and Luminaries for Domestic, Commercial and Industrial applications, Modular Switches, Water Heaters, Coolers and Domestic Appliances, Personal Grooming , Air Purifier ,Water Purifier, Air conditioner, Television, Washing machine and Refrigerator covering the entire range of household, commercial and industrial electrical needs. The Company has manufacturing facilities located at Faridabad in Haryana, Alwar, Ghiloth and Neemrana in Rajasthan, Haridwar in Uttarakhand, Sahibabad in Uttar Pradesh, Baddi in Himachal Pradesh and Sri City in Andhra Pradesh. The research and development facilities are located at Noida (Uttar Pradesh), Bangalore and and Ghiloth (Rajasthan). Havells India Limited was incorporated as 'Havell's Private Limited' in August 1983 and later converted into a Public Limited Company in March 1992. The Company started their operations by producing miniature circuit-breakers and distribution boards in the year 1984. Then, they entered into a technical collaboration with Christian Geyer, Germany, to manufacture miniature circuit-breakers in India. In the year 1991-92, the Company made additions to their facilities to manufacture plastic distribution boards (PDBs) and earth-leakage circuit-breakers (ELCBs). In order to manufacture ELCBs, the company entered into technical collaboration with Schiele Industriwerke, Germany. In the year 1996, the Company entered into the manufacture of low tension power cables by acquiring an existing cable manufacturing plant in Alwar, Rajasthan, which belongs to a sick unit from Rajasthan State Industrial Development & Investment Corporation. In the year 2000, the company acquired Standard Electricals Ltd and Duke Arnics Electronics Ltd. The company sold their entire shareholding of A J Shehfar & Co Ltd in the year 2003. The company also sold their entire shareholding in Standard Electricals Ltd during the year 2003-04. In the same year, the company moved in to electrical consumer goods segment and set up a state-of-the-art automatic plant for manufacturing Compact Fluorescent Lamps at Faridabad in Haryana. During the year 2004-05, the Company incorporated Havell's (UK) Ltd. in London. It enhanced installed capacity of Domestic Switchgears, Industrial Switchgears and Electrical Consumer Durables by 12,650,000 Nos, 222,000 Nos and 2,000,000 Nos respectively. With this expansion the total installed capacity of these products increased to 27,300,000 Nos, 1,335,000 Nos and 13,200,000 Nos respectively. Also, they introduced a complete range of indoor and outdoor lighting fixtures under the brand name Havells in the market. In the year 2005-06, the company installed CCV Lines for making high voltage cables. Also they installed a state-of-the-art automatic plant for manufacturing Compact Fluroescent Lamps (CFL) at Haridwar in Uttarakhand and started their production from January 2006. Also, they installed a new plant to produce Fans and started production in October 2005. In the same year, Crabtree India Ltd was amalgamated with the company. In the year 2006-07, the company set up a new plant in Noida for Power Capacitors. This plant an installed capacity of 600000 KVAR per month and they commenced their production on February 2007. These are designed and manufactured using S3 technology. Also they increased the production capacity of Domestic Switchgear by 6,000,000 to 39,600,000 Nos., Industrial Switchgear by 800,000 to 2,600,000 Nos., Electrical wire Accessories by 14,000,000 to 20,000,000 Nos, Cables & Wires by 230,000 to 700,000 Nos, and Electrical Consumer Durables by 10,000,000 to 32,400,000 Nos. In the year 2007, the company incorporated a wholly owned subsidiary with the name Havell's Holdings Limited in Isle of Man. Also, the company acquired SLI Lighting Products, Inc., SLI Europe BV and Lighthouse Investment Holdings Ltd on April 2007. The company changed their name to Havells India Ltd (Apostrophe is removed from the word Havell's) with effect from July 28, 2007. In April 20, 2007, Havell's Netherlands B.V., a step subsidiary of the company completed the acquisition of 'Sylvania'. In the year 2008, the company set up a fully automatic plant for Havells Lafert Motors at Neemrana. They set up Global Corporate office, QRG Towers at Expressway Noida. Also, they made investment of Rs 50 crore in Global Center for Research and Innovation (CRI). In the year 2009, the company set up a fully automatic second unit for switchgear manufacturing at Baddi. They made Global consolidation of CFL manufacturing plant at Neemrana for domestic and export purposes. They launched India's first HPF CFL and first BEE 5-star Rated Fan. In the year 2010, the company set up second unit for Fan manufacturing at Haridwar. They acquired 100% interest in Standard Electricals. They set up World's First New Generation CMH Lamp Plant at Neemrana. They entered into Electric Water Heaters business. Also, they launched Havells brand in US & Mexico. During the year 2009-10, the company acquired Seven Wonders Holidays Pvt Ltd to facilitate the transfer of electrical business of Standard Electricals Ltd. As per the scheme of arrangement,the electrical business of erstwhile Standard Electricals Ltd (SEL), a company under the same management, was de-merged and transferred to Seven Wonders Holidays Ltd, a 100% subsidiary of the company. Also, the name of Seven Wonders Holidays Ltd was changed to Standard Electricals Ltd. In the year 2011, the company launched a new range of Control Gear Cosmic Star series. They set up a new Industrial Switchgear Plant in Sahibabad. They launched domestic appliances. They entered into a joint venture agreement with Shanghai Yaming Lighting, China. During the year 2010-11, the company ventured into 'Home Comfort Products' with their foray into a new generation, Electric Water Heater business. They set up a state-of-the-art plant in collaboration with Havells Sylvania, Belgium for production of Ceramic Metal Halide lamps. In September 2011, as per the scheme of amalgamation, Standard Electrical Ltd, a 100% subsidiary of the company was amalgamated with the company with effect from appointed date, April 1, 2011. In 2015, Havells India Ltd has launched the country's first most energy efficient fan - ES 40. The company has launched India's first brightest LED lamps range 'LUMENO' at its lighting fixtures plant in Neemrana, Rajasthan. The company also adds first 'Made in India' MCB to its portfolio. The company, has got hold of a 51 per cent stake in Promptec Renewable Energy Solutions at an enterprise value of Rs 65 crore. The company has launched a world class range of MCBs and RCCBs under EURO-II series in Odisha market. During the year, the company also launched world class products in Switchgear segment in the Eastern Region and also inaugurated a new office in Haldwani, Uttarakhand. On 10 December 2015, Havells India Ltd. announced that it has received intimation from its wholly owned subsidiary, Havells Holdings Limited that it proposes to enter into definitive agreement with Shanghai Feilo Acoustics Co Ltd (Feilo) to divest 80% stake in Havells Sylvania Malta BV, subject to shareholders and related approvals. Feilo is a leading listed company with key shareholding held by Inesa Limited, a State Owned Enterprise (SoE) of Shanghai Government. Havells Holding Limited, Isle of Man would continue to hold remaining with exit options in next 3-5 years. Further, Havells India proposes to divest 80% stake in its wholly owned subsidiary, Havells Exim Limited, Hongkong. The combined equity value for 100% stake for both companies is Euro 186 million (about Rs 1340 crore), subject to adjustments, if any. Havells cumulative investment value stands at Rs 980 crore. On 2 February 2016, Havells India announced the launch of its first Made-in-India MCBs and RCCBs under EURO-II series in Uttar Pradesh. These are the company's first MCBs and RCCBs that are designed, developed and manufactured in-house conforming to international standards. On 14 February 2016, Havells India Limited announced various initiatives and its preparedness for achieving next phase of growth. The company announced that it would start offering products and solutions in the space of solar energy; it will venture in the business of automation & control and internet of things so that it could participate better in upcoming smart cities projects and will widen its product offerings to garner larger market share across all its business segments. On 6 May 2016, Havells India Limited announced its foray into the fast growing segment of Integrated Automation and Control Solutions under its premium brand Crabtree in association with one of world's leading automation company HDL Automation. In June 2016, Havells India Limited announced its foray into a new product segment with the launch of innovative and premium range of air purifiers in the domestic market. On 9 November 2016, Havells India announced that it has further strengthened its presence in the North East region with the launch of world's most advanced, Made in India range of water heaters under the 'Adonia' brand in the state of Mizoram that uses colour changing LED technology to communicate different temperature levels. On 8 February 2017, Havells India Limited announced its foray into personal grooming segment with the launch of an array of high quality personal care product like Electric Shavers, Beard Trimmers, Grooming kit - Precision nose and ear Trimmer, Hair Straighteners & Dryers, Bikini Trimmer. The company also, for the first time in the country, launched baby hair clippers. On 14 February 2017, Havells India Limited announced the launch of many new variants of world-class stylish fans to cater to today's contemporary homes. On 19 February 2017, Company acquired Lloyd Consumer Durable Business Division. It signed an agreement with Lloyd Electrical and Engineering Limited and Fedders Lloyd Corporation Limited for acquiring Lloyd brand and consumer durable business that is engaged in sourcing, assembling, marketing and distribution of consumer durables including airconditioners, TVs, washing machines and other household appliances. On 8 May 2017, Havells India Limited announced the successful completion of its acquisition of Lloyd Consumer Durable Business Division (Lloyd Consumer). The acquisition has been executed at an enterprise value of Rs 1600 crore on a debt free, cash free basis. The company has financed the transaction through internal accruals and cash balances. Havells has acquired the consumer business infrastructure, people, distribution network including and not limited to absolute, exclusive ownership and right to all intellectual property of Brand Lloyd, logo, trademark, goodwill and attendant rights. Through this acquisition, Havells marks a foray into consumer durables industry. On 14 March 2018, Havells India Limited announced an agreement with South Korean major Hyundai Electric & Energy Systems Co. Ltd for manufacturing of Magnetic Contactor (MC). Under the agreement, Hyundai Electric will provide technology know-how and grant a license to manufacture, and market Magnetic Contactors under Havells brand. Havells India would also manufacture MC for Hyundai Electric. As per the previous MoU signed between both the companies in November 2017, Hyundai Electric will supply low and medium voltage protection and switching devices to Havells as Brand labeling and will also grant manufacturing license for ranges of Magnetic Contactors (MC) and Molded Case Circuit Breakers (MCCBs) to Havells. Also, Havells will supply equipment such as Miniature Circuit Breakers (MCBs) & Magnetic Contactors (MC) to Hyundai Electric. Havells is leading player in Switchgear market. During the year 2018-19, the Board of Directors in its meeting dated 21 September 2018 approved the Scheme of Amalgamation, among the Company and its wholly owned subsidiary companies, namely Promptec Renewable Energy Solutions Private Limited, Standard Electrical Limited, Lloyd Consumer Private Limited and Havells Global Limited, which is subject to approval of NCLT, being the Appointed Date of the Scheme, 01 April 2018. The Company received approval from the National Company Law Tribunal (NCLT) on 31 January, 2020. As on 31st March, 2022, the Company had two direct overseas subsidiaries: Havells Holdings Limited based at Isle of Man and Havells Guangzhou International Limited based at China. The Company formed a 50:50 joint venture in People's Republic of China with Shanghai Yaming Lighting Co. Limited under the name of Jiangsu Havells Sylvania Lighting Co. Limited (JV), to produce energy lighting lamps. During financial year 2021-22 Jiangsu Havells Sylvania Lighting Co. Limited has ceased to be a joint venture. During the year 2023, Lloyd AirConditioners Plant was commissioned in Sri City, Andhra Pradesh. The Company launched Meditate Air Purifier under the premium brand Havells Studio in 2023. New products including Havells Glamtubes and Meditate Air Purifier got launched in 2023. During financial year 2023-24 Havells International Inc has been incorporated in USA to promote sales of Electrical and Electronic goods in USA. The Company commissioned two power and flexible cables plant in Tumakuru, Karnataka and refrigerators plant in Ghiloth, Rajasthan in FY 2024-25. It has launched the new Adiva and Magnus switches during the year. Also, it launched energy IoT-enabled energy monitoring devices called EnTrack (Energy Auditor) in FY 2025. The launch of Novante IoT-enabled washing machines and Kolor refrigerators also added to Company's portfolio.