The second quarter results announced by Havells India (HAVL) have elicited broadly negative reactions from brokerages, with most downgrading earnings estimates and price targets. The primary factors responsible for the disappointing results and outlook are softness in consumer demand, elevated competitive intensity, and continuing losses in the Lloyd business. JM Financial cut its FY24 and […]
Havells India, one of the country’s largest electrical equipment makers, said it expects organized players such as itself to benefit as raw material price increases put pressure on unorganized players. The company, a prominent player in the switchgear, wire and lighting segments in India, also said that demand for electrical goods in India is on […]
After several quarters, Polycab India Ltd reported a set of financial results that were decidedly less rosy than those of its primary rival Havells India Ltd. Two days after Havells reported a 39% year-on-year jump in revenue to Rs 3,175 cr, Polycab said its third-quarter revenue rose 12% on year to Rs 2,799 cr. While […]
Electrical goods maker Havells India Ltd reported its best ever quarter after pent up demand lifted the company’s sales and profits to unprecedented levels in October-December 2020. The company’s third-quarter revenue jumped nearly 40% year-on-year, breaking the Rs 3,000 cr mark for the first time in its history. Similarly, pretax profits zoomed 101% to Rs […]
Havells India, one of the country’s top cable makers, reported a 10% fall in its revenue, blaming an overall slowdown in economic activities in the country. The company, however, managed to maintain margins through cost cuts. “The deterioration in economic macros, sectoral liquidity challenges and slowdown in infrastructure segment has disproportionately impacted demand for industrial […]
Havells India, one of the fastest growing appliances and electrical gear makers in the country, said it will launch a wifi-enabled, temperature-sensitive smart fan next year. Named ‘Enticer Smart’ after its Enticer series, the fan would have smart capabilities, such as automatically adjusting its rotating speed based on the temperature of the room. The fan […]
Kerala Blasters, one of the prominent teams in Indian Soccer League, has signed up Havells India brand ‘Standard’ as one of its co-sponsors. The financial details of the deal were not disclosed. However, it should come as a positive for the new owners of the team — Nimmagadda Prasad, Chiranjeevi and Allu Arvind, who took over […]
Havells India, one of India’s best performing companies and an electrical goods maker, reported an 11% like-for-like revenue growth for the third quarter and a sharp increase in profit margins. In the second quarter, the company was able to report only a 4% increase in comparable sales. The company’s comparison quarter last year had been […]
Havells India said it has launched water heaters, switches and MCBs under its Standard Electricals brand, which has been known for its switchgear for close to five decades in India. The company said that it expects to expand sales under Standard to Rs 1000 crore in the next 3 to 4 years from about 400 […]
