Havells India Limited, India's leading Fast Moving Electrical Goods Company, introduced the world’s most advanced range of water heaters, today, that use colour changing LED technology to communicate changing temperature levels. The water heaters, which have been 100% designed and made in India under the "Adonia" series, have set a new benchmark in the global water heater industry.
The “Adonia” series provides excellent functionality that perfectly blends with the aspirational consumer's emphasis on aesthetics and safety. The water heaters come with a patented temperature sensitive LED that changes its colour from Blue to Amber as the water heats from normal to a maximum of 75 degrees. Unlike conventional geysers with only red and green colours, these technologically advanced water heaters will allow consumers to choose just the ‘right’ temperature as per their comfort for utilizing water. This revolutionary feature will also protect consumers against sudden exposure to water at very high temperature. The “Adonia” series also comes with digital temperature indicator and feather touch controls, which provide ease of use and takes customer's experience to a different level.
The inner container of the water heater has been built using the innovative FeroglasTM technology, 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 it has high precision digital thermostat cut-out for optimum water temperature and safety. In another first, the five star rated water heaters come with integrated shock resistant plug that safeguards against shocks.
The product comes with a 7-year warranty on the inner tank to give complete peace of mind to the customers. Available in two colours - white & Ivory, this ergonomically and aesthetically designed range of water heaters comes will be available in the price range of Rs 11000-14000. The new range of water heaters are being manufactured at the World’s most modern plant in Neemrana, Rajasthan. Havells had set-up this plant last year.
Speaking on the launch of the new range of water heaters, Mr. Saurabh Goel, Executive Vice President, Havells India Limited said, "Havells has been the trend setter in the water heater industry with its wide range of unique products that always adhere to highest safety standards. In 2010, we were the first company to offer water heaters with ELCBs. Today, the launch of our latest range is yet again a testament of our ability to launch innovative products at regular intervals, which are in line with the changing preferences of our discerning customer. The new range of intelligent water heaters is a blend of elegant design, advanced technology, safety and convenience and we are hopeful that the ‘Adonia’ range will be appreciated by our customers.”
He further added, “With this launch, we are planning to capture 15% market share of the water heater segment and expect to launch few more new products in next few months”.
The domestic market size of the water heater segment is estimated to be Rs. 1,500 crore, which is currently growing at 12-15% annually. The company has a strong presence in the state with a network of over 400 dealers and distributors in over 100 cities across the state. At present, the company has over 57 Havells Galaxy stores in the state and plans to add around 10 more galaxies in the state.
Havells India Ltd is currently trading at Rs. 353.8, down by Rs. 2.7 or 0.76% from its previous closing of Rs. 356.5 on the BSE.
The scrip opened at Rs. 358 and has touched a high and low of Rs. 358 and Rs. 351.7 respectively. So far 213778(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 22276.09 crore.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 378 on 31-May-2016 and a 52 week low of Rs. 235.6 on 09-Nov-2015. Last one week high and low of the scrip stood at Rs. 373.8 and Rs. 355.25 respectively.
The promoters holding in the company stood at 61.63 % while Institutions and Non-Institutions held 29.74 % and 8.62 % respectively.
The stock is currently trading below its 50 DMA.