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The process of urbanization is the reason behind the drastic revolutionization of the world. As a result of this, civilization has also transformed the technical norms and work processes. Furthermore, technological patterns led to the development of many corporate industries that started providing products and services for everyday use.
As we talk, technology continues to advance, enhancing our lives for a better tomorrow. Almost every other thing today is available in the market, speaking about home appliances as well, they are turning out to be highly progressive and creative. Home appliances today are being manufactured and are balanced by an expanding consumerist culture and people's appropriate purchasing capacity. It is now the age of mass consumption of refrigerators, electric dishwashers, radios, televisions, and a variety of other long-lasting items.
Havells, the brand we are all acquainted from quite a long time, is one such popular Indian multinational electrical equipment company that has made its big name in the electrical equipment and home appliances industry in today's time. It has 35 branches in over 60 countries, employing over 6,000 people. With brands like Havells, Lloyd, Crabtree, Standard Electric, Reo, and Promptech, Havells India is based in Noida, India.
Havells - Company Highlights
- Headquarters-Noida, India
- Sector-Electrical equipment, Home appliances
- Founder-Haveli Ram Gandhi, Qimat Rai Gupta
- Valuation-$ 7800 Millions
- Revenue-$ 130 Millions
- Trade Name-Havells India Limited
Havells - About
- Founded in 1958, Havells was started by Shri. Haveli Ram Gandhi. The company was subsequently sold to Qimat Rai Gupta, who was Haveli Ram Gandhi's distributor. Havells India Ltd. is a multibillion-dollar organization and one of the largest and fastest-growing electrical and power distribution equipment manufacturers in India. It offers products ranging from industrial & domestic circuit protection switchgear, cables & wires, motors, fans, power capacitors, lamps, luminaires for domestic, commercial & industrial applications, modular switches, water heaters & domestic appliances covering the entire range of household, and commercial & industrial applications.
- In India, Havells has 14 cutting-edge production sites in Haridwar, Baddi, Sahibabad, Faridabad, Alwar, Neemrana, and Ghiloth, producing globally recognized goods synonymous with perfection and accuracy in the electrical sector. Havells and its brands have established themselves as the preferred choice of electrical equipment for discriminating people and industrial users both in India and overseas. With 'Havells Exclusive Brand Stores,' the business pioneered the notion of exclusive brand showrooms in the electrical sector.
- Today, the company has over 700 stores located across India with a wide variety of goods in the home and electrical appliances to choose from. In addition to this, Havells was the first FMEG company to provide door-to-door service with its project 'Havells Connect.'
Havells's CSR Initiatives
- The Havells's CSR initiative is known as Havells Steps with the catchphrase "Chhote Kadam, Badi Soch". Its CSR initiatives are aimed at improving the lives of the communities through sustainability and bringing social changes in the areas like health & nutrition, sanitation, education, skill development, environment, humanitarian cause, healthcare, and so on. Through its CSR initiative, the company delivers mid-day lunches for 50,000 pupils in the Alwar area every day. This has resulted in a significant rise in the number of children attending school on a regular basis, as well as a reduction in hunger. In addition, the firm has purchased a property for the construction of a bigger kitchen with all contemporary amenities to offer freshly prepared food to the area's 50,000 students.
Havells - Industry Details
- Due to the easy access given to consumers these days, they are becoming more aware of the features and benefits of electronics and other home appliances. The introduction of smart technologies like the internet of things and AI-based devices has also impacted significantly the growth of consumer electronics and appliances in the market. No wonder this industry is rapidly growing with better and more modernized technology.
- The market of electrical equipment and home appliances is anticipated to grow at an impressive CAGR of 12.78% during 2023-2027. The total value of this industry is expected to reach $160.03 billion by 2027.
Havells - Founder and Team
- Originally, Havells was founded by Shri. Haveli Ram Gandhi. Later on, he sold the company to his distributor Qimat Rai Gupta for less than Rs 10 lakhs.
Qimat Rai Gupta
- Qimat Rai Gupta was born in Malerkotla, Punjab, British India (present-day Punjab) in 1937 to a lower middle-class Punjabi Hindu family. Qimat Gupta began his career in 1958 when he left his studies in Punjab and traveled to New Delhi, where he established Guptaji & Company, an electrical trading company, in Bhagirath Place, Delhi's electrical wholesale market, with a capital of Rs 10,000 only. He gained wealth by selling switchgear in rural India and cables, lights, and fans in urban India.
- From then on, he invested capital into creating world-class manufacturing plants around India. Things took a turn when Qimat Gupta purchased Havells brand name from Haveli Ram Gandhi in 1971. Thereafter, Qimat Rai Gupta led to its glory and created various trends in the FMEG industry.
- Qimat Rai Gupta is also known to change the shape of the Indian electrical goods manufacturing process to global standards. He is also known to have founded QRG Central Hospital and the multi-specialty healthcare center QRG Health City in Faridabad.
- Qimat Rai Gupta has received the EY Entrepreneur Of The Year Award 2013. He was married to Vinod Gupta, and they have two boys and one daughter. Only his second son, Anil Rai Gupta, is involved in the firm and replaced his father as Havells' Chairman. Qimat Gupta was 77 when died on November 7, 2014, due to cardiac arrest. His net worth was $1.95 billion at the time of his death.
Anil Rai Gupta
- Anil Rai Gupta is the Chairman & Managing Director of Havells India Ltd. As a kid, Anil Gupta attended St. Xavier's School in Delhi. He graduated from Sriram College of Commerce with a bachelor's degree in economics and from Wake Forest University in North Carolina with an MBA. Being in the industry for 22 years, Anil Gupta has carried out his duties and responsibilities significantly. He joined the company in 1992 as a non-executive director. Anil Gupta took over as chairman and managing director of Havells after his father died in November 2014. He is one of the founders of Ashoka University, a Haryana-based private liberal arts institution. He has written a book known as Havells: The Untold Story of Qimat Rai Gupta (2016), a biography of his father, which was favorably appreciated.
- Anil Gupta received an Honorary Doctorate from his alma mater, Wake Forest University, in 2017, as well as the All India Management Association's Emerging Business Leader Award. He was also named ET Family Business of the Year for the fiscal year 2017-18. Anil was also selected "Entrepreneur of the Year 2019" by Forbes India. Furthermore, He was also named Business Today's Best CEO in the Consumer Durables Category for 2019 and 2020. Anil Gupta's wife is Sangeeta Rai Gupta, with whom he has two children.
Havells - Startup Story
- The story of Havells began at Bhagirath Place, a bustling electrical and electronics bazaar in the Chandni Chowk neighborhood of ancient Delhi. Haveli Ram Gandhi, the brand's original owner started the company in 1958. After a few years of some difficulties, Havells was purchased by Qimat Rai Gupta, who was a former schoolteacher.
- Qimat Gupta found a great opportunity when he set up his own electrical trading business in Bhagirath Place and discovered Haveli Ram Gandhi's trading difficulties. Havells brand was purchased for Rs 7 lakh, and since then, Qimat Gupta never looked back. His smart leadership skills and strategic business mind has taken Havells to the international markets today with a market value of Rs 78,185.07 crores.
Havells - Mission and Vision
- Havells' vision statement says, "To be a globally recognized corporation known for excellence, governance, consumer delight and fairness to each stakeholder including the society and environment in which we operate."
- The mission of Havells is, "To achieve our vision through business ethics, global reach, technological expertise, building long-term relationships with all our associates, customers, partners and employees."
Havells lives by its four core values:
- Customer Delight
- Leadership by example
- Integrity and Transparency
- Pursuit of Excellence
Havells - Name, Tagline, Logo
- Havells's tagline says, 'Committed to saving energy'
- The name 'Havells' may sound like a foreign name, but it is very much Indian. The brand's name is taken from the first owner of the brand - Shri Haveli Ram Gandhi.
Havells - Business Model
- Havells, a brand that focuses on offering consumer electronic appliances can be said to have a customer-centric business model. The company is mainly concentrated on integrating and bringing its customers together to offer them a wide range of options based on their interests. Havells India's primary customers are proprietors of small-scale, large-scale, and medium-scale industries.
- To shed more light on Havells's business operations, the company has established many sets or groupings of electrical items based on the social and financial divisions of society. Havells's middle-class range is primarily concerned with fetching new customers to this financial group. It offers clients a wide range of alternatives and choices.
- Havells's business is all about producing a wide variety of electrical goods and equipment: its key products and services can be categorized into two parts:
Consumer: Havells offers smart and sustainable consumer appliances with longer durability, these are:
- Water Heater
- Air Cooler
- Water Purifier
- Personal Grooming
- Flexible cables
- Appliances (cooking, brewing, garment care, mixer, etc)
Lloyd Consumer Durables (air-conditioner, refrigerator, LED-TVs, washing machine, dishwasher, etc)
Industrial: Havells is also engaged in providing a range of industrial electrical solutions, these are:
- Heavy Duty fans
- Switchgear and Controlgear
- Professional Lighting
- Power Quality Solutions
- Solar Power
With each passing year, Havells is proving to become more about customer satisfaction by offering a vast number of consumer goods to more middle-class people.
Havells - Revenue Model
- As the most trusted brand by many Indians for its electrical appliances, Havells's main source of income comes from the sales of residential appliances and industrial electrical items. It is seen that the Havells galaxy offers a wide range of items for both commercial and residential use.
- For the fiscal year 2022, Havells has reported having revenue of Rs 13,940 crores, whereas its Net income stood at Rs 1,196.47 crores.
Havells - Advertisements and Social Media Campaigns
- Havells's branding and advertisements have always put a huge impact on its audience with its creative and innovative campaigns. In recent times, Havells had launched a new campaign through a series of videos celebrating inspiring stories of people who have come across their challenges by ending the darkness in their lives. The campaign was called #LetsEndDarkness showcases the stories of real people who overcame the many obstacles that life had thrown at them. The campaign features people like Smriti Mandhana (an established female cricket player), Deepa Malik (the first Indian woman participant at the Paralympic Games), Dr. Ruth John Paul (India's first transgender doctor), and many more.
- In another attempt to promote its product called Gracia alkaline water purifier, Havells came up with the new campaign.
Havells - Competitors
The list of competitors of Havells India are:
- Bajaj Electricals Ltd.
- Hitachi Energy
- Inox Wind
- Crompton Greaves Consumer Electricals Ltd.
- Honeywell Automation India Ltd.
- Exide Industries
- ABB India Ltd.
Havells - Future Plans
- The company has announced that it is planning to build its own distribution channels across India. It is targeting to cover 2,800 additional towns with a population of 10,000 to 50,000 approximately. With an encouraging performance in the fiscal year 2022, the company plans to focus more on the core areas of innovation, manufacturing, and distribution. Furthermore, Havells is also aiming to expand in international markets such as the Middle East and Africa.
Who is the CEO of Havells?
- Anil Rai Gupta is the CEO of Havells.
Is Havells an Indian company?
- Yes, Havells is an Indian company based in Noida.
In how many countries does Havells operate?
- Havells has a strong presence in over 60 countries.