News Details
Havells Acquires Consumer Durables Business of Lloyd Electric
26 July 2017

Havells India, a leading manufacturer of branded electrical products, has acquired the consumer durables business of Lloyd Electric and Engineering for an enterprise value
of Rs.1,600 crore, giving it a foothold in the fast growing $15 billion market. The company has signed an agreement with Lloyd Electrical and Engineering Limited and Fedders Lloyd Corporation Limited to buy the Lloyd brand and the consumer durables business comprising of air conditioners, TVs, washing machines and other household appliances. The proforma revenues of consumer durables arm, Lloyd Consumer, for 9 months ended 31 December 2016 stood at Rs.1242 crore and EBDITA at Rs.75 crore. Based on its run rate and past performance, full year revenue is estimated at Rs.1,850 crore with proforma EBDITA of Rs.110 crore. Noida-headquartered Havells will acquire the consumer business infrastructure, people, distribution network including the brand Lloyd and the logo. However, the manufacturing units along with the low margin original equipment manufacturer (OEM) business and the projects business that supplies ACs to railways, have been kept out of this deal.

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