Havells India - Summary of Financial Performance for Q3, FY 2009-10

Havells India today announced its results for Q2 FY2009-10. Reflecting on the performance, Mr. Anil Gupta, Joint Managing Director, Havells India, said:

“We had an excellent quarter led by improved margins and sound volume growth, the trend is expected to continue in the coming quarters as well. We are confident to deliver strong performance across the product range and geographic locations going forward.”

He further added that the merger of Standard Electricals with over Rs.100 crores of turnover is a strong brand and was controlled by the same management, this will bring in substantial value to Havells India and would be EPS accretive”.

Standard Electricals among the top 5 Switchgear brands in the domestic market for over 50 years. Their state of the art manufacturing unit is located at Haridwar.

Q3/9M FY2010 v/s Q3/9M FY2009

Net Revenue during the quarter increased by 22% to Rs.590.81 Crores as against Rs.480.04 Crores reported during the corresponding quarter of the previous year. For the 9 months period it has grown by 9% to Rs.1773.38 crores from Rs.1624.74 crores.

The Profit After Tax increased by 421% to Rs.58.93 Crores in the present quarter as against Rs.11.36 Crores reported in the corresponding quarter of the previous year. For the 9 months period it has grown by 68% to Rs.162.40 crores from Rs.96.41 crores.

The Earning before interest, depreciation and tax (EBIDTA) increased by 263% to Rs.79.50 Crores as compared to Rs.21.90 Crores in the corresponding quarter. For the months period it has grown by 68% to Rs.226.40 crores from  Rs.134.40 crores.

The performance of the switchgear sales showed a growth of 23% to Rs.169.01 crores from Rs.137.41 Crores achieved in the corresponding quarter of the previous year. The cable & wire business segment was at Rs.248.50 showing a growth of 16% from Rs.213.48 crores during the quarter. 23% increase in lighting and fixtures segment to Rs.93.66 Crores as against Rs.75.98 Crores. 42% growth in Electrical consumer durables with revenue of Rs.70.23 Crores as against Rs.49.52 Crores in the corresponding quarter of the previous year.

About Havells India
Havells India is a billion-dollar-plus organization, and is one of the largest & India's fastest growing electrical and power distribution equipment manufacturer with products ranging from Industrial & Domestic Circuit Protection Switchgear, Cables & Wires, Motors, Fans, Power Capacitors, CFL Lamps, Luminaires for Domestic, Commercial & Industrial applications, Modular Switches, & Bathfittings covering the entire gamut of household, commercial and industrial electrical needs. Havells owns some of the prestigious global brands like Crabtree, Sylvania, Concord, Luminance, Linolite, & SLI Lighting.

With 94 branches / representative offices and over 5000 professionals in over 50 countries across the globe, the group has achieved rapid success in the past few years. Its 8 state-of-the-art manufacturing plants in India located at Haridwar, Baddi, Noida, Faridabad, Bhiwadi, Alwar, Neemrana, and 6 state-of-the-art manufacturing plants located across Europe, Latin America & Africa churn out globally acclaimed products. Havells is a name synonymous with excellence and expertise in the electrical industry. Its 20000 strong global distribution network is prompt to service customers.

The company has acquired a number of International certifications, like BASEC, CSA, KEMA, CB, CE, ASTA, CPA, SEMKO, SIRIUM (Malaysia), SPRING (Singapore), TSE (Turkey), SNI (Indonesia) and EDD (Bahrain) for various products. Today, Havells and its brands have emerged as the preferred choice of electrical products for discerning individuals and industrial consumers both in India and abroad.