On a standalone basis, Havells India reported a 11.7% decline in net profit to Rs 177.62 crore on a 19.5% fall in net sales to Rs 2216.13 crore in Q4 March 2020 over Q4 March 2019.
The company said it faced a challenging year with unfavorable macros, slowdown in infrastructure activities, weak market liquidity and then the outbreak of Covid-19. Havells said Q4 commenced on a healthy note with Jan-Feb witnessing revival in consumer products. But Covid-19 disrupted supply chain from China and its contagion impacted the demand side with signs of fear and uncertainty among the trade channel since 15 March 2020. The complete lockdown crippled the revenue streams, company added.Standalone EBITDA for Q4 March 2020 stood at Rs 246 crore, declining 22% from Rs 315 crore posted in Q4 March 2019. EBITDA as percentage of net revenue declined to 11.1% in Q4 March 2020 from 11.4% reported in the same period last year.
Standalone Profit Before Tax (PBT) slumped 34.2% to Rs 197.74 crore in Q4 March 2020 from Rs 300.50 crore posted in Q4 March 2019.
Electrical consumer durables segment reported revenue of Rs 460 crore in Q4FY20, down 13.7% as against Rs 533 crore in the corresponding quarter previous year. Switchgear business reported revenue of Rs 351 crore in Q4FY20, down 13.97% as against Rs 408 crore in the corresponding quarter previous year.
Lighting and fixtures business reported revenue of Rs 265 crore in Q4FY20, down 30.63% as against Rs 382 crore in the corresponding quarter previous year. Cables business reported revenue of Rs 682 crore in Q4FY20, declining 24% from Rs 898 crore in the corresponding quarter previous year. Lloyd reported revenue declined 13.9% to Rs 458 crore in Q4FY20 from Rs 532 crore in Q4FY19.
Commenting on the financial performance Anil Rai Gupta, Chairman and Managing Director, Havells India, said, The quarter commenced on a promising note, however was severely disrupted by COVID-19 towards the end. These are unprecedented and uncertain times, ensuring employee safety and adequate liquidity are our key priorities. We are cautiously optimistic for the timely resolution of crisis and business resumption.
On a consolidated basis, Havells India's net profit declined 10.7% to Rs 177.73 crore on a 19.5% decline in net sales to Rs 2217.44 crore in Q4 March 2020 over Q4 March 2019.
Shares of Havells India were up 2.22% at Rs 491.10 on BSE. 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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