BSE:517354 | NSE:HAVELLSEQ | 58888:hai | IND:Electronics/Electricals | ISIN code:INE176B01034 | SECT:Consumer Durables
I am happy to present to you the first integrated report of Havells India Limited. With this, we reinforce our drive for long-term value creation by focusing on business diversification, process improvement, people engagement, and most importantly, corporate governance. For us, governance is a philosophy, rather than a compliance discipline. It enables better corporate performance and long-term value creation for our shareholders and other stakeholders.
Through this integrated report, we present the interplay of capitals -financial, manufactured, intellectual, human, social and natural. We comprehensively explain how the Company achieves long-term value creation within the challenging and complex environment and its plans to sustain the same in the future.
We continue to remain focused on our ‘Deeper into Homes’ strategy and are confident of it being supported by favourable macro-economic levers like urbanization, electrification, young demography and consumer’s aspiration for brands. We are convinced of successfully executing on this strategy because we have the right culture, talent and necessary resources not only to deliver the current plan, but also to imagine new ideas and ways to transform our business.
We are encouraged with growth across the product verticals and channels witnessed in FY 2018-19. Though, volatility in commodity prices, foreign currencies and NBFC-led liquidity squeeze in the channels had some impact, yet your Company has been resilient through the turbulence. During the year, our revenues grew by 24% and profitability grew by 11%. We will continue to invest in building institutional capability, and increasing channel penetration, brand proliferation, production capacity and innovative solutions.
Lloyd continues to evolve as a mass premium brand on the back of constant investment in its distribution, marketing and people. Favourable demand demographics should drive long-term industry growth for the brand. In continuation with our commitment to ‘Make in India’, Uoyd’s first air conditioner plant at Ghiloth has started commercial production.
since inception, we have been a major proponent of IT being an enabler and strategic advantage for the Company to gain market share, connect deeper with customers and increase profitability, over the last one year, we have launched several mobile applications and portals to bring our customers and partners closer.
We have been investing in future-ready platforms with capabilities like artificial intelligence, machine learning and natural language to serve as a foundation for these applications.
We recognise our responsibility to the planet and have committed ourselves to minimizing environmental impacts of our operations and products. We continue to develop energy-efficient products and increase the use of renewable energy to reduce our carbon footprint. During the year, we planted over 2 lakh trees thus adding to the country’s green cover. Our sustainability performance received renewed recognition when, in the first year of participation, we got placed 7th globally in the 2018 Dow Jones Sustainability Index in our sector.
Furthermore, we served over 12 million meals this year to children across 693 government schools. During the year, we built 800 bio-toilets, adding to our total of 3,200 bio-toilets built and maintained since 2014. We also provided reusable sanitary napkins to over 22,000 girls, to ensure better health and hygiene. We continued to support the conservation of 15th century monument - Subj Burz and building of India’s first underground heritage museum at Humayun’s Tomb.
As India prepares to work towards a fast growing economy, it offers a plethora of opportunities. We are excited by these prospects and are prepared to leverage them. I take this opportunity to thank our employees, bankers, vendors and the Board for their confidence in us. I look forward to your continued and valuable support in the years to come.
With warm regards,
Anil Rai Gupta
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