| Revenue growth | 35% YoY growth across all categories. |
|---|---|
| Margins | Cables margins softened; Lloyd remains subdued due to off-season. |
| Demand visibility | Positive festive season outlook despite inflationary environment. |
| Management confidence | Confident but cautious regarding raw material inflation. |
Growth
Revenue grew 35% YoY driven by switchgear, cables, and emerging renewables.
Outlook
Planned ₹1,400 Cr capex for FY27 focusing on cables and R&D.
Risks
Commodity price volatility, especially aluminum, and competitive pricing in the wire segment.
Last quarter's promises, checked
Delivered
- Stepped up brand building → Ad spends more than doubled YoY (= BEAT)
- Calibrated price hikes → Offset RM inflation across categories (= BEAT)
- Cables capacity expansion → Ramping up as planned (= BEAT)
Partly delivered
- Renewables reporting → Segregated as new segment but margins volatile (= PARTIAL)
- AC volume growth → Single-digit growth despite 'decent summer' (= PARTIAL)
Missed
- Lloyd contribution margin → Single digits vs target double digits (= MISS)
- Switchgear margins → 260 bps erosion due to export disruption (= MISS)
Earnings Call Transcript filed with NSE, NSE: HAVELLS. Summary written with AI assistance from the document.
Havells India Ltd: key numbers
- Share price
- ₹1,025.40
- Market cap
- ₹64,287 Cr
- Revenue (annual)
- ₹22,528 Cr
- Net profit (annual)
- ₹1,691 Cr
- P/E (TTM)
- 38.6×Sector 41.7×
- Promoter holding
- 59.35%+0.00% QoQ
- FII holding
- 14.47%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Havells India Ltd
All →Havells India Management Change
Havells India disclosed that its President, Samir Kirit Anjaria, resigned effective October 27, 2026. The filing attaches his resignation letter.
Havells India Employee Stock Options
Havells employees exercised 61,135 shares under the ESPS 2022 scheme, administered by the Employees Welfare Trust. Shares will be transferred to eligible employees after allotment to the Trust.
Havells India Investor Presentation: Key Takeaways
Havells delivered 35% YoY revenue growth in Q2 FY27, driven by strong volumes across segments. EBITDA grew 30.5% despite softer contribution margins in cables due to volatile aluminum prices.
Havells India Q2 FY27 Results: Net Profit ₹349.2 Cr, Up 9.7% YoY
Havells India Ltd reported revenue from operations of ₹6,432 Cr (+34.6% YoY) and net profit of ₹349.2 Cr (+9.7% YoY) for Q2 FY27.
- Key figure
- Net profit ₹349.2 Cr · +9.7% YoY
Havells India Capital Structure Change
HDFC Mutual Fund acquired 1,00,127 equity shares of Havells India Ltd via open market, increasing its total shareholding to 5.012%.
Havells India Management Change
Havells India Limited has appointed Mr. Yudhishter Shringi as Executive Vice President & SBU Head, effective 12th October 2026.