1. Home
  2. Business & Finance
  3. Havells India acquires 100% stake in Promptec
Havells India acquires 100% stake in Promptec

Havells India acquires 100% stake in Promptec


Havells India will be acquiring the remaining 31% stake from the promoters of Promptec, a marketing and manufacturing firm for LED products, including street lighting, office lighting and Solar lighting.

Havells India will now take full control of Bengaluru-based Promptec Renewable Energy Solutions. In April 2015, Havells had acquired 51% stake in the LED and solar lighting products-maker at an enterprise value of Rs65cr.

This acquisition had marked Havells’ entry in the solar energy segment and LED space. Post-acquisition, the promoter group of Promptec continued to hold a 49% stake in the company, which was later brought down to 31%.

Havells is a leading Fast-Moving Electrical Goods (FMEG) company and its FY18 revenue mix comprised of – cables 39%, switchgears 21%, electrical consumer durables 23%, and lighting & fixtures 17%.

Lloyd contributed Rs1,414cr to FY18 revenue. Its D/E as of FY20E at 0.04x and ROE & ROCE at 23.2% and 32.7% respectively by FY20E gives comfort.

Havells India ended the day at Rs534.95, down Rs0.75, or 0.14%, from its previous close of Rs535.70 on the BSE.

Source: indiainfoline
Anand Gupta Editor - EQ Int'l Media Network


Your email address will not be published. Required fields are marked *