Latest news with #HavellsIndia
Business Standard
20 hours ago
- Business
- Business Standard
Havells India Q1 PAT declines 14% YoY to Rs 352 cr
The home appliance company's standalone net profit fell 14.3% to Rs 352.34 crore on a 6.21% decrease in revenue to Rs 5,437.81 crore in Q1 FY26 over Q1 FY25. Profit before tax stood at Rs 474.56 crore in the first quarter of FY26, down 14.13% year-on-year from Rs 552.67 crore reported in the same quarter of the previous fiscal year. EBITDA for the June 2025 quarter declined 9.8% to Rs 520 crore, compared to Rs 576 crore reported in Q1 FY25. The EBITDA margin also narrowed to 9.6%, down from 9.9% in the corresponding quarter of the previous year. The company attributed the decline in profitability to a tepid summer season this year, in stark contrast to a strong cooling season last year, which led to a significant drop in demand for cooling products. While consumer demand remained subdued, the industrial and infrastructure segments continued to maintain their growth momentum. The company also noted that a continued focus on cost discipline resulted in modest growth in expenses, which helped contain the overall impact of revenue decline on net profitability. On the segmental front, revenue from the electrical consumer durables (ECD) segment stood at Rs 906 crore, down 14.1% YoY, as unseasonal rains and a shorter summer season impacted demand for fans and air coolers. Switchgear revenue rose to Rs 630 crore, up 9.3% YoY, while the cable business recorded strong growth with revenue of Rs 1,933 crore, up 27.1% YoY, supported by robust volume growth, capacity expansion, and strong industrial and infrastructure demand. Revenue from the lighting and fixtures segment stood at Rs 374 crore, down 3.1% YoY, primarily due to approximately 10% YoY deflation in LED prices. Other revenue during the quarter stood at Rs 334 crore, marginally down by 0.8% YoY. Revenue from Lloyd Consumer declined sharply by 34.4% YoY to Rs 1,262 crore in the quarter ended 30 June 2025. The company stated that Lloyds performance was impacted by a weak summer season as against a strong season last year; flattish growth in H1CY25 (Jan to June). Havells India is a leading fast-moving electrical goods (FMEG) company and a major power distribution equipment manufacturer with a strong global presence. The scrip rose 2.96% to currently trade at Rs 1,577.35 on the BSE.
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Business Standard
a day ago
- Business
- Business Standard
Havells India gains despite Q1 profit drop; is long-term bet worth it?
Shares of Havells India rose even after it reported a 15 per cent year-on-year (Y-o-Y) drop in its June quarter net profit as analysts remained upbeat over the medium term given the demand recovery. The consumer electronics major's stock rose as much as 1.56 per cent during the day to ₹1,555 per share. The stock pared some gains to trade 0.45 per cent higher at ₹1,538 apiece, compared to a 0.15 per cent advance in Nifty 50 as of 9:34 AM. CATCH STOCK MARKET LIVE UPDATES TODAY Havells India Q1 results The Noida-based company reported a 14.72 per cent Y-o-Y decline in consolidated profit after tax (PAT) to ₹347.53 crore in Q1FY26. The company also reported a 6.10 per cent YoY fall in consolidated total income, amounting to ₹5,524.53 crore for the quarter under review. Havells India segment-wise performance The company's best-performing segment was the cable business, which generated ₹1,933.22 crore in revenue in Q1 FY26, marking a 27 per cent YoY increase. The company attributed this rise to capacity expansion and strong industrial-infrastructure demand. However, revenue from Lloyd Consumer declined 34.11 per cent YoY to ₹1,271.11 crore in Q1 FY26. "Lloyd's performance was impacted by a weak summer season compared to a strong season last year and flattish growth in the first half (H1) of calendar year 2025 (January to June)," the company said. In the electrical consumer durables (ECD) segment, unseasonal rains and a shorter summer season impacted demand for fans and air coolers. Analysts on Havells India Q1 results Nuvama Institutional Equities said that the cable business offset the weak Q1 results with healthy margin and volume growth. Unseasonal rains and a shortened summer further aggravated the weak consumer sentiment, the brokerage said. Analysts expect the weak showing is a near-term concern, and anticipate the performance to ramp up over medium term as inventory normalises and consumer demand strengthens. Nuvama trimmed their FY26–28 earnings per share (EPS) by 3-5 per cent, which is 6-8 per cent below consensus. Antique Stock Broking said that Havells has built multiple growth levers by expanding its product portfolio in the core electricals segment and entering the white goods category through the Lloyd acquisition. This positions it well to benefit from a recovery in consumer discretionary demand. Following a weak Q1FY26 performance, especially in Lloyd and the Electrical Consumer Durables (ECD) segment, Antique Stock Broking cut their FY26 and FY27 estimates by 6 per cent and 10 per cent, respectively. Analysts retained the 'Buy' rating on the stock with a revised target price of ₹1,797. Centrum Broking said that Havells' operating margin and PAT missed their consensus estimates by 9-10 per cent. Muted summer and weak consumer demand weighed on performance, although industrial and infrastructure-led demand remained resilient, it said. Management sees Q1 headwinds as seasonal and expects recovery in consumer demand and the real estate sector in the second half of FY26, Centrum noted, adding that expanding rural reach remains a key growth lever. Analysts cut their FY26 EPS estimates by 11 per cent and retained their 'Add' rating with a revised target price of ₹1,745 per share. Havells share price movement Shares of the company rose for the second straight day but have been range-bound since May. The counter has fallen 8.3 per cent this year, compared to a 6.2 per cent advance in the benchmark Nifty 50. Havells has a total market capitalisation of ₹96,458.08 crore.
Time of India
a day ago
- Business
- Time of India
Havells India shares in focus after Q1 profit drops 14% YoY. Should you book profits?
Shares of Havells India are expected to remain in focus on Tuesday after the company reported a 14% year-on-year (YoY) decline in standalone net profit for the first quarter ended June. The company posted a net profit of Rs 352 crore for Q1FY26, down from the same period last year, as weak summer conditions and sluggish demand impacted its cooling products segment. Explore courses from Top Institutes in Select a Course Category Healthcare Digital Marketing Artificial Intelligence CXO Project Management Data Science Data Analytics MCA MBA Cybersecurity Product Management Leadership Degree Management Design Thinking Operations Management Finance Others Public Policy Data Science others healthcare Technology PGDM Skills you'll gain: Financial Analysis in Healthcare Financial Management & Investing Strategic Management in Healthcare Process Design & Analysis Duration: 12 Weeks Indian School of Business Certificate Program in Healthcare Management Starts on Jun 13, 2024 Get Details Havells reported a 6% YoY decline in net sales to Rs 5,438 crore, attributing the performance drop to subdued sales of air-conditioners, fans, and air coolers. Chairman and Managing Director Anil Rai Gupta said during the earnings call that high channel inventory for air-conditioners will take 1–2 quarters to clear, prompting the company to adjust production levels accordingly. The large appliances business under the Lloyd brand saw sales fall 34% YoY to Rs 1,262 crore, while the lighting and fixtures segment declined marginally to Rs 374 crore. The electrical consumer durables segment also reported a 14% YoY drop in revenue to Rs 906 crore. In contrast, the switchgears business grew 9% YoY to Rs 630 crore, and the cables segment reported strong 27% YoY growth to Rs 1,933 crore, partially offsetting weakness in other verticals. Also read: Beyond 1:1 bonus issue, why HDFC Bank shares remain top pick after Q1 results Brokerage commentary post Q1 results Motilal Oswal | Neutral | Target: Rs 1,680 Motilal Oswal (MOSL) maintained a 'Neutral' rating on Havells India and reduced its target price to Rs 1,680 from Rs 1,710, citing a weaker-than-expected performance led by the Lloyd, electrical consumer durables (ECD), and lighting segments. MOSL highlighted a 6% YoY decline in revenue to Rs 5,460 crore, a 10% YoY drop in EBITDA to Rs 520 crore, and an EBITDA margin contraction of 40 basis points to 9.5%. PAT declined 15% YoY to Rs 350 crore, coming in 11% below MOSL's estimates. The brokerage attributed the weakness to soft demand caused by a muted summer, which hurt cooling product sales. However, it noted that the cables and switchgears (C&W) segment remained strong due to infrastructure and industrial demand. MOSL cut its FY26/FY27 EPS estimates by ~8% and 7%, respectively, but expects a recovery ahead. Antique Broking | Buy | Target: Rs 1,797 Antique Broking maintained its 'Buy' rating but lowered its target price to Rs 1,797 from Rs 1,859 after the Q1FY26 operational performance missed expectations. The brokerage attributed the underperformance to weakness in the Lloyd and ECD segments and revised its FY26 and FY27 earnings estimates down by 6% and 10%, respectively. On Monday, shares of Havells India closed flat at Rs 1,532.05 on BSE. ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Hans India
2 days ago
- Business
- Hans India
Havells India's Q1 net profit falls 33 pc sequentially, revenue down 17 pc
Mumbai: Havells India on Monday reported a net profit of Rs 347.53 crore in the first quarter (Q1) of FY26, down 32.78 per cent on quarter-on-quarter (QoQ) basis from Rs 517 crore in Q4 FY25. Revenue from operations also dropped by 16.63 per cent, falling to Rs 5,455.35 crore from Rs 6,543.56 crore in the previous quarter, according to its stock exchange filing. Total income for the quarter also followed suit and stood at Rs 5,524.53 crore -- marking a 16.45 per cent decline from Rs 6,612.28 crore in Q4 FY25. Year-on-year (YoY), the company also saw a drop in its profit. Consolidated profit after tax (PAT) fell 14.75 per cent from Rs 407.51 crore in the April-June quarter of the previous fiscal. Revenue from operations also declined 6 per cent YoY from Rs 5,806.21 crore in Q1 FY25. The company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell to Rs 570 crore, slightly lower than Rs 576 crore in the same quarter previous year. The EBITDA margin dropped to 5.6 per cent, compared to 9.9 per cent a year ago, as per its exchange filing. Havells attributed the weak performance to an unusually mild summer this year, which hurt demand for cooling products like fans and air coolers. It noted that while industrial and infrastructure demand remained strong, consumer sentiment was weak. "Tepid summer this year, in contrast to the strong season last year, led to significant decline in cooling products," the company said in its exchange filing. Among its segments, wires and cables performed strongly, with revenue rising 27.1 per cent to Rs 1,933 crore compared to Rs 1,521 crore a year ago. However, the lighting and fixtures business slipped 3.1 per cent to Rs 374 crore. The company also highlighted that the performance of its Lloyd brand was impacted due to unseasonal rains and a shorter summer, leading to higher inventory levels and flattish growth in the first half of the calendar year. The results were announced after market hours. Ahead of the announcement, Havells' stock closed 0.95 per cent higher at Rs 1,533 on the National Stock Exchange (NSE).
Business Standard
2 days ago
- Business
- Business Standard
Havells India consolidated net profit declines 14.75% in the June 2025 quarter
Sales decline 6.04% to Rs 5455.35 croreNet profit of Havells India declined 14.75% to Rs 347.72 crore in the quarter ended June 2025 as against Rs 407.90 crore during the previous quarter ended June 2024. Sales declined 6.04% to Rs 5455.35 crore in the quarter ended June 2025 as against Rs 5806.21 crore during the previous quarter ended June EndedJun. 2025Jun. 2024% -6 OPM %9.459.86 -PBDT575.49641.02 -10 PBT469.75549.00 -14 NP347.72407.90 -15 Powered by Capital Market - Live News
