1. Opening Hook
Just when the market was busy obsessing over rate cuts and weather forecasts, Havells decided to remind everyone that wires still matter. A lot. While consumers debated whether to buy appliances or postpone life decisions, Havells quietly pushed out a double-digit revenue quarter. Cables flexed, switchgears stayed loyal, and Lloyd… well, Lloyd showed up late again.
Margins behaved like a disciplined topper, advertising spends took a vow of silence, and EBITDA finally looked like it drank some protein shake. Of course, no Indian results season is complete without a “one-time exceptional item” cameo—this time courtesy of labour laws.
Sounds simple? It isn’t. Because beneath the calm commentary lies a tale of commodity inflation, seasonal hiccups, and a brand still trying to fix its AC mood swings. Read on—this concall gets more interesting once the numbers start talking back.
2. At a Glance
- Revenue up 14.2% – Wires and cables remembered they are Havells’ gym bros.
- EBITDA up 21.4% – Operating leverage finally clocked in on time.
- Margins at 9.4% – Not expanding wildly, but no diet crash either.
- Net profit up 6.6% – Growth, but with an asterisk and labour laws attached.
- Cash down sharply – Capex, working capital, and a solar crush splurge.
3. Management’s Key Commentary
“Healthy overall performance in Q3 aided by Cable and Wire business.”
(Translation: Thank God for cables, because other segments had mood swings 😏)
“Strong
