Havells' high-stake gamble

Havells India is a titan in the electronic appliances market today. But its origins were different and the journey was beset with moments of near-defeat. On the edge of the precipice, the company's architect Qimat Rai Gupta made a high-stake gamble of winding down the then-flagship business. His son and the company's current managing director, Anil Rai Gupta, has recounted the daring leap in his book "Havells: The Untold Story of Qimat Rai Gupta". Taking excerpts from the book, we take a look at what prompted the pivot and how it altered the company's trajectory. The beginnings In the late 90s, Havells India was a powerhouse in the electric metres business, which made up over 60 per cent of its annual turnover. The company thrived on India's booming power sector reforms that attracted multiple big corporations eager to invest in lucrative projects like power generation and distribution. Havells was perfectly positioned for this opportunity. As