- 23 Apr 2025
- ICICIdirect Research
HAVELLS REPORTED ROBUST REVENUE OF RS 6532 CRORE UP BY 20 PERCENT YOY
HAVELLS - 1594 Change: 10.80 (0.68 %)News: Havells reported robust revenue of Rs 6,532 crore up by 20.2% YoY/ 33.8% QoQ driven by growth in Llyods consumer(39.5% YoY to Rs 1870 cr) and Cables segment(21.2% YoY to Rs 2169 cr). Half of the growth in cables & wires segment was price driven, owing to higher commodity prices. Further EBITDA stood at ₹761 crore translating EBITDA margins at 11.6% which marginally declined by 10 bps YoY however improved 280 bps QoQ. PAT came at ₹522 crore which grew by 16.4% YoY/ 84.5% QoQ
View: Growth was majorly led by Llyod consumer and Cables segment. Lloyd is showcasing considerable financial improvement with margin expansion of 150 bps YoY/ 120 bps QoQ. Lloyd has been able to generate PBT of Rs 117 cr vs Rs 37 cr on YoY basis. Investment in Lloyd shall continue as still scope for growth. On cables & wire side, management expects enough growth opportunity despite 2 large corporates entering the space. Besides, management remarked sluggish demand from retail customers. Overall, with a diversified business model, expect steady performance to continue.
Impact: Positive