Standard strengthens its presence in India. Forays into Water Heater segment
Standard a well-known brand of Havells India Limited, today announced its foray into water heater segment with the launch of technologically advanced and aesthetically designed range of "Water Heaters". The company has launched five variants in electric water heater "Zoe & Zoe Prime", "Ameo", "Amazer" and "Lyft" with a capacity ranging from 1 ltr to 25 ltr.
The inner container of the water heater has been built using the innovative enamel coated tank, which ensures high resistance against corrosion, making the appliance tough on hard water and giving it a longer life. Its inbuilt Incoloy Glass Coated Heating Element gives excellent resistance to both oxidation and carbonization at high temperature and has all weather adjustable thermostat for optimum water temperature and safety.
The product comes with a 7-year warranty on the inner tank to give complete peace of mind to the customers. Available in two colors - white & Ivory, this ergonomically and aesthetically designed range of water heaters will be available in the price range of Rs 3500 to 14000. The new range of water heaters are being manufactured at the World's most modern plant in Neemrana, Rajasthan.
The water heater market in India is expected to be Rs. 1300 Cr - Rs 1500 Cr and is growing at the rate of 12%.
As part of the expansion plan, the company has launched "Zoe" range of switches which is inimitable symbiosis of superior technology, maximum functionality and exquisite design to match the taste of today's discerning customers and complement the latest interior trends. The new range of switches is a path breaker in the switch segment as it comes in horizontal & vertical orientation. "Zoe" comes in dual tone finish, with the ease of changing the front plate / panel and the price range of the SKU starts from Rs 38 onwards.
Standard has also introduced a new range of MCB's "Aspida", keeping in mind the safety requirements of today's discerning consumers. The new range of Aspida has been completely designed and developed by the R&D team of Standard and provides enhanced safety against overload, short circuit and electrical shock. The price range for Aspida starts from Rs 145 onwards.
Speaking on the occasion, Mr. Abhra Banerjee, Vice President, Havells India Limited said, "Standard has been a trusted war horse for Havells over the years. In last few years, Standard has changed its strategy and has focused on younger and upwardly mobile users in the market by creating a difference through product design, bold colours and features and constantly creating best in class, innovative and trend setting products. Standard is a youth-centric brand which understands the needs of the younger audiences. The current products launches are a part of the overall strategy to further consolidate our market share".
Standard has achieved revenue of Rs.400 crore in the last fiscal year and aims to reach Rs.1000 crore revenue in next 3 to 4 years. The company has a well-entrenched marketing and distribution network in the country with over 42 branch offices supported by around 2500 authorized dealers and 10000 strong retail outlets. Also, the company has 35 exclusive brand stores across India and is planning to take it to 100 brand shops by the end of current fiscal year.
Shares of HAVELLS INDIA LTD. was last trading in BSE at Rs.525.9 as compared to the previous close of Rs. 510.3. The total number of shares traded during the day was 92248 in over 2324 trades.
The stock hit an intraday high of Rs. 528 and intraday low of 510.85. The net turnover during the day was Rs. 48229793.