Havells India announced plans to establish a refrigerator manufacturing facility in Ghiloth, Rajasthan, with an investment of approximately Rs 480 crore.

The plant will add a production capacity of 14 lakh units, expected to be operational by the second quarter of FY27.

The investment will be funded through internal accruals. The company stated that this expansion aims to leverage backward integration and economies of scale, enhancing operational efficiency and cost-effectiveness.

Havells India reported mixed results for the September quarter. While net profit rose by 7.7% year-on-year to Rs 268.2 crore, it fell short of analyst expectations, which stood at Rs 328 crore. Revenue grew by 16.4% year-on-year to ₹4,539.3 crore, slightly exceeding the projected Rs 4,332 crore.

However, EBITDA remained flat at Rs 374.6 crore compared to the previous year, significantly below the estimate of Rs 459 crore. The company’s EBITDA margin declined by 140 basis points to 8.2% from 9.6% last year, missing the anticipated 10.6%.