Havells India Limited — Investor Meet, 26-04-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Havells' Q4 FY26 performance was modest, with strong industrial and infrastructure categories offsetting cautious consumer sentiment impacted by global cost pressures. Cables & Wires saw 14% value growth (6% volume), benefiting from inventory gains, while Lighting revenue was flat but margins improved due to year-end adjustments. Lloyd's revenue softened from a delayed summer, though a new refrigerator plant was commissioned. Price hikes (5-20%) were implemented across products. Havells invested 600 Cr in Goldi Solar, recognizing a 283 Cr fair value gain. Management is optimistic about long-term growth, stressing ongoing investments in brand, innovation, and capacity, including 800 Cr for cables and wires, and a new R&D center. The focus is on market share gains and efficiency amidst short-term market dynamics.