The company plans to increase the annual cable manufacturing capacity at the facility to 7,34,640 km from the existing capacity of 4,59,600 km. The expansion is expected to be completed by December 2027 and will be funded through internal accruals.
Havells India had earlier announced an expansion of cable manufacturing capacity at the Tumakuru facility from 3,48,000 km per annum to 4,62,600 km per annum.
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As of the reporting date, the company has partially completed the expansion and achieved an annual manufacturing capacity of 4,59,600 km at the facility. The company has invested ₹285 crore in this phase out of the previously announced investment of ₹450 crore.
Last week, Havells India said it had entered the battery energy storage systems (BESS) segment through a strategic collaboration with Norway-based energy storage technology company Pixii AS.
The company said the partnership will focus on developing and introducing advanced battery energy storage systems for the Indian market. The collaboration targets customers across small-scale, commercial and industrial segments.
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Havells said the partnership combines its manufacturing capabilities, sales and distribution network, and understanding of the Indian market with Pixii’s energy storage technology to offer modular battery energy storage solutions. The companies said the collaboration aims to provide reliable, efficient and scalable energy storage systems that support India’s clean energy transition.
As part of the strategic collaboration, the companies will work through a phased roadmap to establish a long-term Battery Energy Storage System ecosystem in India.
These phases include understanding the market requirements through pilot installations for validation of commercial opportunities while also co-developing an all-in-one energy storage solution. Further, the collaboration will move towards local manufacturing of products in India and co-development of solutions tailored to Indian customers.
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Shares of Havells India Ltd ended at ₹1,168.00, down by ₹9.50, or 0.81%, on the BSE.
