Havells India spurts after Q3 PAT soars 75% to Rs 350 cr

Havells India surged 9.33% to Rs 1115 after consolidated net profit jumped 74.5% to Rs 350.14 crore on 39.7% surge in net sales to Rs 3,175.20 crore in Q3 December 2020 over Q3 December 2019.

Consolidated profit before tax (PBT) soared 101% to Rs 469.52 crore in Q3 December 2020 from Rs 233.57 crore in Q3 December 2019. Current tax expenses for the quarter surged 127.6% to Rs 112.36 crore as against Rs 49.36 crore paid in Q3 December 2019. The Q3 result was declared post trading hours yesterday, 20 January 2021.

On a standalone basis, the company's net profit jumped 75% to Rs 349.13 crore on a 39.5% increase in net sales to Rs 3,165.85 crore in Q3 FY21 over Q3 FY20.

EBIDTA jumped 89% to Rs 508 crore in Q3 December 2020 from Rs 269 crore in Q3 December 2019. EBIDTA margin was at 16% as 31 December 2020 as against 11.8% as 31 December 2019.

The company said it saw an encouraging business performance with secular growth across divisions and regions led by improvement in consumer sentiment, festive season and reduction in Covid-19 cases; and increased penetration in smaller towns and a higher rural reach. Supply chain disruption faced by suppliers with high import dependence have further supported market share gains.

The board of Havells India has declared an interim dividend of Rs 3 per equity share of Re 1 each i.e. @ 300% on the equity share capital of the company. The same shall be payable to all those shareholders whose names appear in the register of members as on the record date i.e. 29 January 2021. The dividend shall be paid/ dispatched to the shareholders on or before 30 days from the date of its declaration, the company stated further.

Havells India is a leading fast-moving electrical goods company with presence across India. Its product range includes industrial & domestic circuit protection switchgear, cables & wires, motors, fans and power capacitors.

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