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Havells Announces Third Quarter FY22 Results, Net Profit Declines 12% YoY

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Havells India Ltd., one of the leading Indian consumer electrical goods company announced its third quarter results for the current financial year.

Havells’ Standalone Q3 FY22 v/s Q3 FY21 Financial Performance

The Revenue of Havells India has risen by 15%, reaching Rs. 3,652 crore in third quarter of FY22 from Rs. 3,166 crore in the corresponding period of the last fiscal.

On the other-hand Net Profit of Havells India declined by 12% to Rs. 306 crore in this quarter as against Rs. 349 crore during the same quarter last year.

Havells’ Standalone Q3 FY22 v/s Q2 FY22 Financial Performance

Havells Revenue and Net Profit comparison Q3 FY21 v/s Q3 FY22 v/s Q2 FY22
Havells Revenue and Net Profit comparison Q3 FY21 v/s Q3 FY22 v/s Q2 FY22

In its quarterly earnings report, the company reported a total revenue of Rs 3,652 crore as against Rs 3,221 in Q2FY22, which is an increase of 13.38%.

Net Profit of Havells’ has gone up by mere 1.32% at Rs. 306 crore during the period under review as against Rs. 302 crore in Q2 FY22.

Havells’ Segment-Wise Revenue Analysis for Q3 FY22 v/s Q3 FY21

Switchgear: The revenue increased by 13% to Rs. 496 Cr. in Q3 FY22 from Rs. 437 Cr. in Q3 FY21. Havells’ Switchgear segment was benefited by product range expansion and new construction.

Cable: Revenue of the cable segment has increased tremendously by 33% to Rs. 1,206 Cr. in Q3 FY22 from Rs. 905 Cr. in Q3 FY21. Cable segment showcased such growth due to higher commodity prices.

Havells Segment-Wise Revenue Analysis Q3 FY21 v/s Q3 FY22
Havells Segment-Wise Revenue Analysis Q3 FY21 v/s Q3 FY22

Lighting & Fixtures: Revenue sharply increased by 15% to Rs. 408 Cr. in Q3 FY22 in comparison to Rs. 353 Cr. in Q3 FY21.

Electrical Consumer Durables (ECD): ECD segment’s revenue has risen by 14% to Rs. 893 Cr. in Q3 FY22, up from Rs. 783 Cr. in Q3 FY21. The growth in ECD was led by strong festive demand in the reported quarter.

Others: Others segments include revenue from Motors, Pumps, Personal Grooming and Water Purifier businesses. Revenue increased by 5% to Rs. 184 Cr. in Q3 FY22 from Rs. 176 Cr. in Q3 FY21.

Lloyd: Revenue from Lloyd brand decreased by 9% to Rs. 466 Cr. in Q3 FY22 from Rs. 512 Cr. in Q3 FY21.

Havells Q3 FY22 Performance Result Summary

Commenting on the results, Havells India Chairman and Managing Director Anil Rai Gupta said “Festive demand was encouraging. The last few weeks have seen the return of Covid-led anxiety in the demand markets but it seems that recovery could be swift. We remain positive on demand resilience“.

The results also reflect that margins have been under pressure with elevated commodity costs and have witnessed partial transition into pricing especially in consumer durables.

About Havells India Ltd. Havells is a leading Fast Moving Electrical Goods (FMEG) Company, based in Noida, U.P. It manufactures a wide range of products such as Industrial & Domestic Circuit Protection Switchgear, Cables & Wires, Motors, Fans, Power Capacitors, Luminaires for Domestic, Commercial & Industrial applications, Modular Switches, Water Heaters and Domestic Appliances covering the entire gamut of household, commercial and industrial electrical needs. Its network constitutes 4000 professionals, over 7900 plus dealers, and 40 branches in the country.