The company stated that the aforementioned expansion is being undertaken in order to cater to the increased demand.

The total proposed investment for the above capacity enhancements will be in the range of Rs 50 – 60 crore. The same will be funded through internal accruals and the expected date of completion is Q4 FY 2025.

Havells India is a leading fast moving electrical goods (FMEG) company and a major power distribution equipment manufacturer with a strong global presence.

The home appliance company reported 24.09% rise in standalone net profit to Rs 448.86 crore on 12.06% increase in net revenue to Rs 5,434.34 crore in Q4 FY24 over Q4 FY23.

The scrip shed 0.08% to currently trade at Rs 1837.50 on the BSE.