Demand uncertainty may weigh on Havells stock; B2C sales show muted trend

Despite FY23 revenue growing 21 per cent YoY, Havells faced rising input costs and intense competition with moderation only in Q4

Havells India ‘s sales for the fourth quarter of the 2022-23 financial year (Q4FY23) grew 10 per cent year-on-year (YoY) to Rs 4,850 crore. While the business to consumer (B2C) sales of the electrical major was sluggish, the business to business (B2B) segment saw stable growth due to activity across the related sectors of infrastructure & construction. Among segments, the Lloyd subsidiary and the switchgears sales grew 32 per cent and 27 per cent YoY, respectively, but sales for cables and lighting grew only in the 4-5 per cent range. Sales on the electrical consumer durables (ECD) front fell 14