| Revenue growth | 34.6% YoY growth driven by all business categories. |
|---|---|
| Margins | EBITDA margin at 9.0% vs 9.3% YoY; cables margin hit by aluminum prices. |
| Demand visibility | Steady consumption demand; domestic demand pickup in switchgears. |
| Management confidence | High; strong performance despite high inflation and raw material volatility. |
Growth
Net revenue reached Rs 6,417 cr (+34.6% YoY); Net Profit at Rs 353 cr (+11.1% YoY).
Outlook
Full-year capex guided at Rs 1,400 cr for cable capacity and new R&D center.
Risks
Softening margins in Cables segment due to aluminum price volatility; high inflation impacting consumption demand.
Last quarter's promises, checked
Delivered
- Normalize A&P spend in H2 → delivered 9.0% EBITDA (= BEAT)
- Calibrated price hikes to offset inflation → delivered 34.6% revenue growth (= BEAT)
- Maintain high switchgear contribution margin → delivered 37-40% range (= BEAT)
Partly delivered
- Full-year capex Rs 1,400 cr → spent proportional to R&D/Cable expansion (= PARTIAL)
Missed
- Double-digit contribution for Lloyd → delivered high single-digit (= MISS)
Investor Presentation 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.
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Strong 35% revenue growth masks margin pressure in cables due to raw material volatility and seasonal Lloyd losses.
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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
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