Havells India stock likely to lose spark as fuse blows on margins

Live-wire market share gain, but margin recovery and demand revival need a jolt

Havells India, the country’s largest listed consumer electrical company, reported a mixed performance in the 2024-25 (FY25) October-December quarter (Q3). While the top line benefited from festival demand, lower margins impacted operational performance.

  Although consumer sentiment improved towards the end of Q3 and the company gained market share, a strong revival in consumption demand and the pace of margin recovery will be crucial for the stock. Despite a 1 per cent gain on Friday, Havells India remains down 11 per cent from its December highs.

 

The segments that performed well in the December quarter were electrical consumer durables (ECD),