Havells India Limited — PPTs, 22-04-2026: Investor Presentation

Havells reported mixed Q4 FY26 results with Net Revenue up 2.4% YoY to Rs 6,688 Cr and Net Profit soaring 40.6% YoY to Rs 734 Cr, boosted by a Rs 283 Cr fair value gain from its Goldi Solar investment. Full-year FY26 saw Net Revenue grow 3.3% to Rs 22,466 Cr and Net Profit rise 14.5% to Rs 1,705 Cr. Industrial segments like Cables (+14%) and Switchgears (+6.4%) showed strong growth, while consumer categories such as Lloyd and Electrical Consumer Durables (ECD) declined due to a delayed summer and cautious sentiment.

Growth is driven by robust industrial demand and scaling up in the renewables sector. The company invested Rs 600 Cr in Goldi Solar and is undertaking higher capital expenditure for capacity expansion in Cables and Refrigerators.

Q4 margins were impacted by lower Lloyd revenues and cost lags in Switchgears, though the latter is expected to normalize. The company maintains disciplined spending while stepping up advertising for brand visibility. Cash and Cash Equivalents stand at Rs 2,351 Cr.