New Delhi, Aug 31 (UNI) Havells India, a power equipment and electricals company, today opened its first global Research and Development Centre in Noida at a cost of Rs 50 crore.
''The new R&D centre, having a capacity of 400 people, is a small step towards bigger goals for our investors and will focus on newer initiatives of R&D of all the three Sylvania, Havells and Crabtree,'' Havells India JMD Anil Gupta told reporters here.
The company had acquired Europe-based SLI Sylvania in April last year.
For the current fiscal, Havells has earmarked a capex of Rs 200 crore, to be used in expansion of the company's wires and cables business and compact fluorescent lamps (CFLs) business.
The company's current CFL business capacity is two million pieces a month, which will be increased to five million by May next year.
Its expanded capacity in wires and cables business will be ready by this fiscal-end.
In May this year, the company commissioned its electric motor facility with a capacity of rolling out motors worth Rs 300 crore in a year and had posted a profit of Rs 553.39 crore in the June quarter.
UNI AK SG KN1654