Shares of Havells India rose 0.5% to ₹1,076.5 after the firm disclosed Q2 figures, topping consensus by a healthy margin. Revenue hit ₹6,416 crore, a 34.6% jump YoY, eclipsing the ₹5,937 crore estimate compiled by CNBC‑TV18.
EBITDA contracted to 9% from 9.26% in Q1, a 30‑basis‑point slide, while net profit climbed to ₹353 crore—slightly above the ₹352 crore forecast and 11.2% higher than the same quarter last year.
Segment‑level detail shows Switchgears revenue at ₹7,823 crore, up 31.3% YoY, and cables surged 47.9% to ₹2,999 crore, driven by commodity‑linked price hikes. Lighting & Fixtures grew 7% to ₹449 crore, and Electrical Consumer Durables posted 10.7% growth at ₹1,072 crore. Renewables exploded 147% to ₹329 crore.
In its post‑earnings remarks, the company said consumption demand stayed steady amid high inflation, but margins were softened by a dip in aluminium prices hurting cables. It noted that price hikes in the rest of the portfolio offset raw‑material inflation, keeping contribution margins largely intact.
Capital expenditure for the year is slated at roughly ₹1,400 crore, earmarked for expanding cable capacity and inaugurating a new R&D centre. The stock, after a 25% YTD decline, steadied on the day, reflecting a cautious optimism among traders.
Analysts watching the pulse of the consumer‑durables sector note that Havells’ ability to sustain revenue growth while keeping margins near 9% positions the company favorably against peers such as Luminous and Bajaj Electricals.