Havell to open more retail outlets

Chennai, Oct 1: The electrical goods manufacturing major Havell's India Ltd, will expand its retail network massively by opening 200 more retail outlets all over the country in the next three years, Company Joint Managing Director Anil Gupta said today.

Launching the company's sixth retail outlet here, he said by the end of this year the company would open atleast 25 retail outlets.

He said the company registered a turn over of Rs 1100 crore during the last fiscal and it expect a turn over of Rs 1600 crore this fiscal.

The net profit was Rs 63 crore during 2005 and it would be between Rs 90 and 95 crores this year, he added.

About exports, he said 25 per cent of their turnover was from exports.

Currently, the company was exporting to 53 countries including Malaysia, Bangladesh, Sri Lanka, Africa, Iran, Singapore, Iraq, Europe and Middle East countries.

He said the company had 13 manufacturing facilities spread in Rajasthan, Haryana and Uttar Pradesh.

In the last two years an additional investment of Rs 200 crore was carried out.

Mr Gupta said all the products of the company had ISI certification and the Industrial switch gears had been accorded with international certification of "Kema".

He said the company's business in Tamil Nadu had shown an upward trend and it expects a turnover of Rs 150 crore this fiscal from Tamil Nadu.

UNI