Havells India - New Launches, Rural Expansion Intact In A Covid-19 Disrupted Year: Motilal Oswal

Havells branding is displayed on a component for E-Lite LED 18 W Pride Plus lights on the production line. (Photographer: Udit Kulshrestha/Bloomberg)

Havells India - New Launches, Rural Expansion Intact In A Covid-19 Disrupted Year: Motilal Oswal

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Motilal Oswal Report

Havells India Ltd,’s FY21 Annual Report emphasises on operations in a Covid-19 disrupted year. The management continued to focus on expanding distribution, particularly in rural areas, and launching newer and innovative products.

All these measures led to the company's capitalising on pent up demand arising post the lifting of lockdown restrictions, leading to a recovery in lost sales. Here are the key highlights:

  • Over the last few years, the company has focused on expanding its distribution reach in semi-urban and rural markets under the ‘Rural – Vistaar’ initiative.

  • In FY20, the company had 1,700 rural distributors covering 18,000 outlets, which was further ramped up to 2,500 distributors covering 28,000 outlets in FY21.

  • The company manufactures over 90% of products in-house (versus 20-50% for its peers) across its 14 manufacturing locations.

Click on the attachment to read the full report:

Motilal Oswal Havells India Annual Report Analysis.pdf


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