Havells enters Middle-East Asia market with brand Lloyd
In its bid to expand global footprint, the Noida-based electrical goods major launches the consumer durable brand in UAE
- Nov 29, 2023,
- Updated Nov 29, 2023 3:42 PM IST
Leading electrical goods and electronics maker Havells India has entered the middle-east Asia market with its consumer durable brand Lloyd. The company that manufacturers and markets a wide array of products, from switchgear to room air conditioners, already operates in over 70 countries. With the launch of Lloyd in the UAE, Havells is aiming to encash on the cooling products market in the country.
According to the company, the launch portfolio includes a premium range of ACs (Fixed speed, Inverter, and Hot & Cold), front-load and semi-automatic washing machines, frost-free and side-by-side refrigerators, and LED TV range. "Our unwavering commitment persists in expanding our international presence, and we take pride in Making in India for the world. We are thrilled to introduce Lloyd to the discerning consumers of the Middle East. Lloyd has been synonymous with innovation and trust in India, and we are confident that our range of products will resonate with the preferences and lifestyle of the Middle East market,” said Anil Rai Gupta, Chairman & Managing Director, Havells India.
The move comes at a time, when its flagship consumer durables brand Lloyd has recorded widening losses, despite reporting handsome growth. During the first six months period of FY2024, between April-September 2023, Lloyd reported a 19.5 per cent growth in its revenue to Rs 1,808 crore - up from Rs 1,514 crore. However, it posted a Rs 136 crore loss at EBIT (earnings before interest and tax) level, with a EBIT margin of negative 7.5 per cent.
According to Praveen Sahay, lead research analyst at Prabhudas Lilladher, Lloyd has, however, sequentially gained market share in the July-September quarter in the room AC segment, which contributed 50 per cent of Lloyd’s sales during the quarter. “Lloyd along with ECD, W&C is well placed to grow on account of positive outlook for upcoming festival season, pick-up in residential demand, declining inflation, commodity price stability and B2B portfolio sustaining steady demand led by infrastructure and/or construction,” he noted.
As per a latest analysis by Geojit BNP Paribas, Havells India is expected to grow its sales by 13 per cent year-on-year to cross Rs 19,000 crore yearly revenue mark in FY2024.
Also Read: Havells, Torrent Power, Rain, Macrotech: Trading strategies for these buzzing stocks
Leading electrical goods and electronics maker Havells India has entered the middle-east Asia market with its consumer durable brand Lloyd. The company that manufacturers and markets a wide array of products, from switchgear to room air conditioners, already operates in over 70 countries. With the launch of Lloyd in the UAE, Havells is aiming to encash on the cooling products market in the country.
According to the company, the launch portfolio includes a premium range of ACs (Fixed speed, Inverter, and Hot & Cold), front-load and semi-automatic washing machines, frost-free and side-by-side refrigerators, and LED TV range. "Our unwavering commitment persists in expanding our international presence, and we take pride in Making in India for the world. We are thrilled to introduce Lloyd to the discerning consumers of the Middle East. Lloyd has been synonymous with innovation and trust in India, and we are confident that our range of products will resonate with the preferences and lifestyle of the Middle East market,” said Anil Rai Gupta, Chairman & Managing Director, Havells India.
The move comes at a time, when its flagship consumer durables brand Lloyd has recorded widening losses, despite reporting handsome growth. During the first six months period of FY2024, between April-September 2023, Lloyd reported a 19.5 per cent growth in its revenue to Rs 1,808 crore - up from Rs 1,514 crore. However, it posted a Rs 136 crore loss at EBIT (earnings before interest and tax) level, with a EBIT margin of negative 7.5 per cent.
According to Praveen Sahay, lead research analyst at Prabhudas Lilladher, Lloyd has, however, sequentially gained market share in the July-September quarter in the room AC segment, which contributed 50 per cent of Lloyd’s sales during the quarter. “Lloyd along with ECD, W&C is well placed to grow on account of positive outlook for upcoming festival season, pick-up in residential demand, declining inflation, commodity price stability and B2B portfolio sustaining steady demand led by infrastructure and/or construction,” he noted.
As per a latest analysis by Geojit BNP Paribas, Havells India is expected to grow its sales by 13 per cent year-on-year to cross Rs 19,000 crore yearly revenue mark in FY2024.
Also Read: Havells, Torrent Power, Rain, Macrotech: Trading strategies for these buzzing stocks