Polycab India Limited, one of the best performing mid-sized companies in India and a maker of electrical goods, said it has decided to sell its copper rod manufacturing business to metal refiner Hindalco Industries, part of the Aditya Birla group of companies. Polycab said it decided to take this step as Hindalco would be better […]
Havells India, one of the country’s largest electrical equipment makers, said it expects organized players such as itself to benefit as raw material price increases put pressure on unorganized players. The company, a prominent player in the switchgear, wire and lighting segments in India, also said that demand for electrical goods in India is on […]
After several quarters, Polycab India Ltd reported a set of financial results that were decidedly less rosy than those of its primary rival Havells India Ltd. Two days after Havells reported a 39% year-on-year jump in revenue to Rs 3,175 cr, Polycab said its third-quarter revenue rose 12% on year to Rs 2,799 cr. While […]
Electrical goods maker Havells India Ltd reported its best ever quarter after pent up demand lifted the company’s sales and profits to unprecedented levels in October-December 2020. The company’s third-quarter revenue jumped nearly 40% year-on-year, breaking the Rs 3,000 cr mark for the first time in its history. Similarly, pretax profits zoomed 101% to Rs […]
ABB India, the local unit of the Swiss-Swedish machinery and equipment maker, said it does not “anticipate any significant adjustments” due to the impact of the COVID-19 pandemic and the subsequent lock down. “The Company has evaluated the liquidity position, recoverability, carrying value of its assets and does not anticipate any significant adjustments at this stage […]
Government of India today said that its list of public sector companies scheduled to be sold to private entities did not include Bharat Heavy Electricals Ltd. The company, abbreviated BHEL, has with operations in multiple locations such as Bhopal in Madhya Pradesh and Trichy in Tamil Nadu and is India’s largest suppliers of heavy electrical […]
Havells India, one of the country’s top cable makers, reported a 10% fall in its revenue, blaming an overall slowdown in economic activities in the country. The company, however, managed to maintain margins through cost cuts. “The deterioration in economic macros, sectoral liquidity challenges and slowdown in infrastructure segment has disproportionately impacted demand for industrial […]
Polycab, one of India’s biggest makers of electrical wires, reported an exceptionally strong set of results for the October-December period, despite widespread reports of a slowdown in the economy, including the construction sector. Polycab India Ltd reported revenue of Rs 2,507 cr from its operations, up from 2,242 cr in the preceding three months and […]
Bajaj Electricals, which makes household and kitchen appliances, said it has agreed to buy non-stick cookware maker Nirlep for Rs 42.50 cr. The cookware maker had annual turnover of Rs 47 cr as of last financial year, the company said. “The proposed acquisition will provide a portfolio of products which complements with the offerings of […]
Bharat Heavy Electricals Ltd, the largest Indian heavy equipment maker, said it won a Rs 1,034 cr order to set up a gas-based captive power plant at Hindustan Petroleum Corporation’s Visakh Refinery. The order, given on a turnkey basis, is part of the expansion project at the refinery at Andhra Pradesh. BHEL’s scope of work […]
Havells India said it has launched water heaters, switches and MCBs under its Standard Electricals brand, which has been known for its switchgear for close to five decades in India. The company said that it expects to expand sales under Standard to Rs 1000 crore in the next 3 to 4 years from about 400 […]
