Havells India is pinning hopes on the Centre’s rural electrification drive, as the move would perk up demand for electrical consumer products in the country.

The government initiatives are expected to improve the quality of power available and the company, together with its acquired brand Lloyd, is looking at deeper penetration into rural areas with its range of electrical and consumer durable products, said Anil Rai Gupta, Chairman and Managing Director, Havells India Ltd.

Gupta was in Kochi for the launch of Lloyd’s next generation 4K ULED range of televisions with screen size ranging between 55 and 65 inches.

He said the market size of both electrical products and consumer durables put together was over ₹1 lakh crore and is growing, thanks to rising consumer aspirations, rural electrification programme, easy finance options for consumers etc.

“We have registered a 25 per cent growth in the first quarter and foresee a decent growth throughout the entire fiscal,” Gupta said.

He said the business environment has improved with the stabilisation of the GST regime. “We are going for a capacity expansion by investing ₹500 crore for Capex this year,” he added. Havells has garnered a business turnover of ₹10,000 crore nationally and of this, Lloyd’s contribution was ₹2,000 crore last year. South India is the major market for Havells with a share of 30 per cent in turnover. Kerala has also been instrumental and strategic to the growth over the years, garnering a business of ₹500 crore. Given the demand for products, the company intends to double its revenue in the State over next 2-3 years with its consumer durable brand Lloyd, he added.

According to Shashi Arora, CEO, Lloyd, television viewing in India has taken a tectonic shift as consumers nowadays are up-sizing themselves and are inclining towards smart TVs which are equipped with the latest technology and designs. The decision to launch the new TV first in Kerala was taken considering the technology driven and brand conscious market in the State, he said.