Havells India saw its standalone net profit rise by 43.08% to Rs 411.18 crore in Q1 FY25 compared to Q1 FY24. The company’s net revenue grew 20.2% to Rs 5,798.11 crore in the same period. Profit before tax increased by 44.55% year-over-year to Rs 552.67 crore.
During the quarter, EBITDA rose 43% to Rs 576 crore, and the EBITDA margin improved to 9.9% from 8.3% in the previous year. The company attributed its strong growth to robust summer sales and continued performance in industrial and infrastructure sectors, despite some election-related impact.
Revenue from the Cable business was Rs 1,521 crore, up 2% YoY, while Electrical Consumer Durables saw a 20% rise to Rs 1,055 crore. Switchgears revenue increased by 6% to Rs 576 crore, Lighting & Fixtures revenue grew by 5% to Rs 386 crore, and other revenue surged 36% to Rs 336 crore. Lloyd Consumer’s revenue rose 47% YoY to Rs 1,924 crore.
Havells highlighted healthy domestic growth in Switchgears, strong growth in power cables, and volume growth in lighting despite price deflation. The company’s fans and small domestic appliances performed well due to favorable weather and new product launches. Lloyd saw a strong start to the year, leveraging its large manufacturing capacity.
Havells India saw a 12% year-on-year domestic growth in switchgears, although some export orders were deferred to the next quarter. Power cables experienced solid growth despite capacity limitations, while wire revenues were impacted by channel destocking and lower commodity prices.
Lighting showed strong volume growth, but price deflation reduced overall gains. Fans and small domestic appliances performed well, driven by a favorable season and new premium launches. Emerging categories scaled up, with a strong start for ACs as Lloyd utilized its large manufacturing capacity, and non-AC products also showed good growth. However, switchgears margins were affected by delays in passing on cost increases, while Lloyd’s profitability improved due to cost-saving measures.
Havells India is a leading company in fast-moving electrical goods (FMEG) and a major power distribution equipment manufacturer with a strong global presence. The stock price declined 0.17% to Rs 1,873.25 on the BSE.
