Havells Q1 revenue tops Rs 6,500 crore as renewables business powers growth

NOIDA: Havells is switching on a new source of growth. The consumer electricals maker has introduced a dedicated renewables business segment as it posted strong first quarter revenue growth, signalling a sharper focus on clean energy even as higher costs weighed on profits.

Havells India Limited reported consolidated total income of Rs 6,572.35 crore for the quarter ended 30 June 2026, up from Rs 5,524.53 crore in the corresponding period last year.

On a standalone basis, revenue from operations rose to Rs 6,509.97 crore from Rs 5,437.81 crore, crossing the Rs 6,500 crore mark for the first time in a June quarter.

Profit, however, came under pressure. Standalone profit after tax fell to Rs 298.43 crore from Rs 352.34 crore a year earlier as rising raw material prices and higher marketing expenditure offset the gains from stronger sales.

Raw material and component costs climbed to Rs 4,023.54 crore during the quarter from Rs 3,012.26 crore in the year-ago period. Advertising and sales promotion expenses also increased to Rs 285.73 crore.

The biggest strategic development during the quarter was the creation of a standalone renewables segment. The new business combines the company’s solar power, solar pump and electric vehicle supply equipment operations, which were previously reported under other business segments.

The move has already begun to make an impact. Revenue from the renewables business rose to Rs 314.34 crore during the quarter, compared with a reclassified Rs 93.59 crore in the same period last year.

Among its core businesses, the cables division remained the largest contributor with revenue of Rs 2,455.62 crore, up from Rs 1,933.22 crore a year earlier.

The electrical consumer durables segment generated Rs 1,113.07 crore in revenue, supported by the inclusion of water purifiers and personal grooming products following an internal reclassification.

The Lloyd consumer business reported revenue of Rs 1,459.62 crore, up from Rs 1,261.85 crore, although it recorded a segment loss of Rs 51.02 crore during the quarter.

The switchgears and lighting businesses contributed revenue of Rs 607.63 crore and Rs 390.27 crore respectively.

Independent auditor Price Waterhouse & Co Chartered Accountants LLP completed a limited review of the quarterly results and reported no material issues with the company’s financial statements.

Standalone earnings per share stood at Rs 4.76 for the quarter, while consolidated earnings per share came in at Rs 4.63.

With revenue continuing to grow and renewables emerging as a separate growth engine, Havells is broadening its business beyond traditional electrical products, even as it navigates a quarter marked by rising input costs and pressure on margins.