Havells Q1 FY27 earnings call transcript filed with exchanges

Mgmt Guided Margin ImprovementMgmt Evaded Key QuestionInvestor Communications View source PDF

HAVELLS · price

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AI summary

Management discussed Q1 FY27 results. Revenue grew strongly despite raw material inflation and West Asia issues. Took staggered price hikes of 5 to 20 percent, averaging 7 to 8 percent. A and P spend doubled year on year, hitting Q1 margins but expected to normalize. Renewables carved as separate segment, growing fast, focused on residential and commercial. FY27 capex guided at INR1,400 crores with INR800 cr for cables. A and P budget around INR700 to 800 crores. Margins expected to stabilize. No full year guidance given.

Likely market impact

Mixed signals. Q1 margins hurt by advertising front-loading and raw materials, but management expects normalization. No specific guidance given. Cautious near-term.