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Posted on Jan 18, 05:30PM | IBNS
Havells India Limited, a USD 1.3 billion leading Fast Moving Electrical Goods (FMEG) company and a major power distribution equipment manufacturer, on Friday announced its growth plans for the Eastern region.
As part of its growth strategy, the company has entered into a new business segment of Piano switches with the launch of REO switches. This segment was earlier missing from its stable of premium products, said the company.
The Eastern region includes West Bengal, Sikkim, Bhutan, Odisha, Jharkhand, Bihar and North East.
With the launch of REO, the company will enter the rural market which holds huge growth potential for times to come. In order to reach out to rural India and service its customers the company will enhance its distribution network and mark its presence in over 1200 towns with less than 1 lac population over next few years.
Currently, Havells India Limited is present in over 550 towns out of 667 towns with over 1 lac population.
The company will double its production capacity at its Baddi plant in Himachal Pradesh where all switches and domestic switchgear products are manufactured including REO switches.
Currently Baddi plant manufactures 5 lac SKUs a day which will be taken to 1 million SKUs a day within next 3-6 months period.
Havells India said the Eastern region is critical to company's long term growth and currently contributes close to 20pc to its overall revenues.
To further bolster its growth and increase revenue contribution from the Eastern region, the company will augment its market presence in the region by adding more dealers and Havells Galaxy stores apart from launching new products from time to time.
Speaking on the occasion, Y. K. Gupta, Associate Director, Havells India Ltd. said, "We will continue to expand our base in the state and simultaneously strive to grow the market by tapping new opportunities. We have set a roadmap to expand our dealer network from 850 to 1200 in next 2 years."