Havells India’s Profit Down by 15.5% in June Quarter
By Ankur Chandra | Published at: Jul 21, 2025 07:29 PM IST
Noida, July 21, 2025 – Havells India Ltd (NSE: HAVELLS) reported a 15.5% year-on-year (YoY) decline in standalone net profit to ₹352.34 crore for the first quarter ended June 30, 2025 (Q1FY26), down from ₹411.18 crore in Q1FY25. The decline was led by weak performance in the Lloyd segment and margin pressures across categories.
Even though the YoY change in revenues and total income was within the -6.3% range, the segmental loss (Lloyd) dragged down segmental margins and consolidated earnings. Recovery in this segment shall be critical to restoring margins.
Havells India Stock Performance
The company’s share traded in green throughout the day, with a one-off decline for a few minutes. It closed at ₹1531.60 (0.82% higher from the previous day’s close). The low-high range remained between ₹1,511.60 and 1,537.00 per share. The total traded volume remained strong (close to 8.5 lakh shares).
Financial Highlights (Standalone)
Havells India’s Q1FY26 revenue fell 6.2% YoY to ₹5,437.81 crore and was down 16.7% compared to the previous quarter due to weak demand. EBITDA dropped to about ₹588.52 crore, 8.7% lower YoY, as costs for raw materials and employees stayed high. Net profit declined 15.5% YoY to ₹352.34 crore and was down 32.6% from last quarter, with EPS at ₹5.62. Expenses came down slightly YoY but remained high, putting pressure on overall profits.
Segment-Wise Performance
Revenue Breakdown by Segment (Standalone):
| Segment | Q1FY26 (₹ Cr) | Q1FY25 (₹ Cr) | YoY Growth (%) |
|---|---|---|---|
| Switchgears | 629.57 | 575.85 | 9.3% |
| Cables | 1,933.22 | 1,521.24 | 27.1% |
| Lighting & Fixtures | 373.54 | 385.60 | -3.1% |
| Electrical Consumer Durables | 905.92 | 1,054.86 | -14.1% |
| Lloyd Consumer | 1,261.85 | 1,924.11 | -34.4% |
| Others | 333.71 | 336.45 | -0.8% |
Profit Contribution by Segment (Q1FY26 vs Q1FY25):
| Segment | Q1FY26 (₹ Cr) | Q1FY25 (₹ Cr) | Growth (%) |
|---|---|---|---|
| Switchgears | 147.50 | 141.92 | 3.9% |
| Cables | 242.63 | 171.09 | 41.8% |
| Lighting & Fixtures | 46.19 | 63.01 | -26.7% |
| Electrical Consumer Durables | 78.94 | 114.71 | -31.2% |
| Lloyd Consumer | -19.71 | 67.39 | – |
| Others | 16.17 | 11.00 | 47.0% |
The Lloyd Consumer business experienced a sharp decline in both revenue and profitability, reporting a loss of ₹19.71 crore compared to a profit of ₹67.39 crore in the same period last year. The Electrical Consumer Durables (ECD) segment also faced muted consumer demand and channel destocking.
Strategic Investment
Havells invested ₹600 crore in Goldi Solar Pvt Ltd for a 9.09% stake through equity and compulsorily convertible preference shares. The move strengthens Havells’ play in the solar ecosystem, where it already markets modules, inverters, solar cables, and DC switchgear products.
Management Commentary
Chairman and Managing Director Anil Rai Gupta said:
“We remain committed to long-term value creation. Despite challenges in the Lloyd and ECD segments, our core cable and switchgear businesses have performed robustly. The strategic investment in Goldi Solar aligns with our renewable ambitions.”
Consolidated Performance Overview
| Particulars | Q1FY26 (₹ Cr) | Q1FY25 (₹ Cr) | YoY Change |
|---|---|---|---|
| Consolidated Revenue | 5,455.35 | 5,806.21 | -6.0% |
| Consolidated Net Profit | 347.53 | 407.51 | -14.7% |
| Consolidated EBITDA* | ~584.85 | ~640.57 | -8.7% |
The consolidated performance mirrored the standalone trend, with Lloyd’s international subsidiaries adding minimal contribution.
Company Overview
Havells India Ltd, listed on NSE and BSE, is a leading fast-moving electrical goods (FMEG) company with a strong global footprint. It owns brands like Lloyd, Crabtree, Standard, and Reo, and operates across cables, switchgear, lighting, and consumer appliances. The company has a pan-India distribution network and multiple manufacturing units.
For the latest updates on Havells India, Q2 performance, and post-monsoon demand trends, stay tuned.
REF: https://nsearchives.nseindia.com/corporate/HAVELLS1_21072025155613_QuickResults_Q1.pdf
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