Havells India Q2 revenue rises 35 per cent to Rs 6,432 crore, profit grows 8 per cent

NEW DELHI: Havells India has reported a strong second quarter, with consolidated revenue from operations rising 34.6 per cent year on year to Rs 6,431.99 crore for the quarter ended 30 September 2026, driven by growth in cables, switchgears and renewables.

Consolidated net profit increased 15.8 per cent to Rs 349.22 crore from Rs 301.58 crore in the corresponding quarter last year, based on the reported profit before tax and tax figures. Consolidated profit before tax (PBT) rose to Rs 472.62 crore from Rs 414.59 crore a year earlier.

Total consolidated income for the quarter stood at Rs 6,464.60 crore, while revenue from operations in the first half of FY27 reached Rs 12,950.18 crore, compared with Rs 10,234.68 crore in the year-ago period.

The cables business remained Havells’ biggest growth driver, with consolidated quarterly revenue rising to Rs 2,998.90 crore from Rs 2,028.23 crore in Q2 FY26. The segment reported a profit of Rs 304.26 crore.

The switchgears segment recorded revenue of Rs 781.74 crore and segment profit of Rs 198.46 crore. Renewables, presented as a separate segment following reclassification, generated revenue of Rs 329.16 crore, up from Rs 132.83 crore in the year-ago quarter. Its segment result stood at Rs 27.25 crore.

Electrical consumer durables contributed revenue of Rs 1,072.11 crore and segment profit of Rs 66.95 crore. Lighting and fixtures reported revenue of Rs 459.50 crore, with segment profit of Rs 45.53 crore.

Havells’ Lloyd Consumer division continued to face profitability challenges. The segment reported a loss of Rs 105.51 crore on revenue of Rs 619.41 crore. Revenue nevertheless increased from Rs 482.16 crore in the corresponding quarter last year.

The segment’s loss contrasts with growth across several of Havells’ other businesses, highlighting uneven performance across its portfolio.

Consolidated expenses rose to Rs 5,991.98 crore during the quarter. Raw material and component consumption accounted for Rs 3,447.25 crore, while advertising expenses stood at Rs 137.59 crore.

The company reported consolidated total assets of Rs 14,743.15 crore as of 30 September 2026. Total consolidated equity stood at Rs 9,785.29 crore, supported by paid-up equity share capital of Rs 62.76 crore.

Consolidated basic and diluted earnings per share for the quarter were Rs 5.57. Standalone net profit came in at Rs 352.83 crore, with earnings per share of Rs 5.62.

Auditor Price Waterhouse & Co issued an unmodified limited review report on the results.

With cables providing substantial momentum and renewables emerging as a stronger contributor, Havells delivered broad-based revenue growth in the quarter. However, the losses in Lloyd Consumer remain an area to watch as the company works to convert higher sales into stronger profitability across its businesses.