Havells delivers a strong beat in Sept quarter operational performance

While cost control drove margins and consumer demand rebounds, further gains may restricted as projects business is yet to recover and valuations are stretched

Significant improvement in revenues, along with robust operating profit growth in the September quarter (Q2), propelled the Havells stock to its 52-week high, on Thursday.

The electrical consumer durables (ECD) business continues to drive growth, while other segments such as lighting and fixtures, as well as switchgears, saw an impressive rebound and rercorded a year-on-year (YoY) increase in sales. 

Revenues in the cables segment were lower than the year-ago quarter’s level, but have improved significantly following the easing of restrictions. Therefore, the results came in ahead of consensus estimates.

Net revenues at Rs 2,452 crore — up 10 per cent YoY— were ahead