Havells has described a revenue growth of 11 per cent to Rs 10,428 crore, in FY21. Chairman and Managing Director Anil Rai Gupta stated about the inflationary trends in commodity prices and the second wave of COVID-19 that would influence consumer opinion in the short term.
Havells is currently growing its network in semi-urban and rural markets with proper changes in its product range to make it more suitable and cheaper.
As per the company’s latest annual report, Gupta stated the conditions of the consumer choices are shifting towards reliable and quality brands that are creating unique opportunities for established players operating instalments with products that are enhanced with feature-led, energy-efficient and produce a digital footprint.
The company is working on product development and rising consumer trends and considers alternate sales channels such as online and modern format retail (MFR)that will help to achieve significance in the coming years.
Anil Rai Gupta stated about the inflationary trends in commodity prices and the second wave of COVID-19 that would influence consumer opinion in the short term. Although Havells India the consumer electronic goods producer is positive of the medium to long-term demand trends. Although Havells India the consumer electronic goods producer is positive of the medium to long-term demand trends.
Further, he appended, “We are confident of the medium to long-term demand trends. With strategic building blocks in place — strengthening the core, broadening our portfolio and investing in people and process capability we are looking at improved and sustainable growth.”
In FY21, Havells has augmented market share across categories along with expanded distribution invasion and development in rural areas.
“We will continue to encourage our credentials in product development, emerging consumer trends and serving through the omnichannel network. We believe in the secular potential growth of India and Havells,” he affirmed.
