Havells India announced on May 8 that it has received a letter of intent from the Yamuna Expressway Industrial Development Authority (YEIDA) to establish a new electronics manufacturing facility. The proposed unit will be set up on a 50-acre plot in the Electronics Manufacturing Cluster (EMC), Sector 10 of YEIDA in Uttar Pradesh.

The company plans to use the site for future capacity expansion focused on producing consumer goods and home appliances. The approval is contingent upon adherence to state policies and regulatory requirements.

The project qualifies for a 75% front-end land subsidy under Uttar Pradesh’s 2023 investment promotion policy for FDI, FCI, and Fortune-listed companies.

Separately, Havells reported a 16% year-on-year rise in Q4 profit at Rs 518 crore. Revenue grew 20% to Rs 6,543 crore, with EBITDA rising 19.3% to Rs 757 crore, while the EBITDA margin remained steady at 11.6%.

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