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Indian-Commodity  :  Top News  :  Havells India to buy Lloyd Electric's consumer business for Rs 1500 crore: Report

Havells India to buy Lloyd Electric's consumer business for Rs 1500 crore: Report (17-Feb-2017)

Havells India, one of the prominent makers of branded electrical products, is reportedly in advance negotiations with Lloyd Electric & Engineering to acquire its consumer durables business for around Rs 1200 -1500 crore, to get a toehold in the fast growing Indian air conditioners market.  The consumer business for Lloyd Electric is its mainstay accounting for the 58% of its total revenues and 44% of the operational profits of the company in the December 2016. Its other business divisions - heat exchangers, original equipment manufacturing and packaged AC business - have seen flat or declining sales.

Havells India is the country's leading Fast Moving Electrical Goods (FMEG) manufacturer, producing a wide range of world class industrial and consumer electrical products. The Company works in step with the Make in India initiative and has an extensive production and distribution network across India and the world.


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