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Havells India reported Q2 FY26 net revenue of 4,767 Cr, up 5.2% YoY, with net profit surging 16.5% to 317 Cr. For H1 FY26, net revenue saw a slight dip of 1.2% to 10,204 Cr, and net profit was 670 Cr, down 2%.
#Havells delivered decent Q2, despite weakness in summer products like fans and air coolers. Cables segment was a star, growing 12.4% in Q2 and 19.1% for H1, benefiting from robust margin improvement. Switchgears and Lighting & Fixtures also showed good growth. Conversely, Lloyd Consumer revenue declined 18.5% in Q2 due to high channel inventory and GST changes, significantly impacting its margins. Electrical Consumer Durables (ECD) also saw a drop.
The company continues to invest in brand strengthening. A notable development includes a 45.27 Cr profit from the sale of Faridabad assets in Q2. Havells also invested 600 Cr in Goldi Solar during Q1. Higher inventory in Cables and Lloyd led to increased working capital. Q2 EBITDA was 442 Cr, up 16.3%. Cash & cash equivalents stood at 1,449 Cr.