Havells India, a fast-moving electrical goods company is reportedly planning to invest Rs 300 crore in the current fiscal for expansion of its manufacturing base and is considering diversifying into various consumer electronics businesses including water purifiers and personal grooming. The firm will utilize cash reserves of Rs 1,500 crore for expansion and is not considering raising funds at this moment. The company is exploring opportunities for acquisition in electronic goods segment in India and abroad.
Havells India is engaged in manufacturing and marketing of electrical and power equipments. Recently, the company had reported 36.27% rise in its net profit at Rs 145.58 crore for the first quarter ended June 30, 2016 as compared to Rs 106.83 crore for the same quarter in the previous year. The company's total income increased by 17.98% to Rs 1497.49 crore for the quarter under review from Rs 1269.30 crore for the corresponding quarter of the previous year.