Havells India Limited has informed the Exchange about Investor Presentation
HAVELLS · price
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Havells India reported a weak Q1 FY26 with net revenue declining 6.2% YoY to Rs 5,438 crore and net profit falling 14.3% to Rs 352 crore, mainly due to a tepid and shorter summer that hit cooling products hard. Lloyd Consumer was the worst hit, with revenue crashing 34.4% YoY to Rs 1,262 crore and slipping into a Rs 20 crore segment loss versus a Rs 67 crore profit last year. The bright spot was Cables, which grew 27.1% YoY to Rs 1,933 crore on strong industrial-infrastructure demand, while Switchgears rose 9.3%. EBITDA margin slipped to 9.6% from 9.9% due to negative operating leverage on lower volumes, even as ad spend fell 17%. The company also invested Rs 600 crore in Goldi Solar during the quarter and paid Rs 376 crore in dividends.
Near-term sentiment may be negative given the sharp profit decline and Lloyd's surprise loss, but management is framing the weakness as weather-driven and seasonal rather than structural, with industrial demand holding up well. Investors should watch for a recovery in Lloyd and ECD segment performance once the base normalises.