Havells Q1 FY 22: Net Profit Jumps 271% YoY

Havells India Ltd., one of the leading Indian FMEG company announced its Q1 results for the current financial year 2021-22.

Havells Standalone Q1 FY22 v/s Q1 FY21 Financial Performance

The revenue of Havells India has increased by 76% reaching Rs. 2,598 crore from Rs. 1,479 crore. Net profit of the company rose sharply by 271% to Rs 234 crore in the quarter ended June 2021 as against Rs 63 crore during previous quarter last year.

Segment-Wise Revenue Comparison of Havells Performance for Q1 FY22 v/s Q1 FY21

Havells performed well over all products categories during quarter ending June 2021.

Switchgear: Havells revenue increased by 96% to Rs. 374 Cr. in Q1 FY22 from Rs. 190 Cr. in Q1 FY21

Cables: Cables segment revenue increased sharply by 75% to Rs. 807 Cr. in Q1 FY22 from Rs. 461 Cr. in Q1 FY21.

Lighting & Fixtures: Revenue increased by 52% to Rs. 210 Cr. in Q1 FY22 from Rs. 138 Cr. in Q1 FY21.

Electrical Consumer Durables (ECD): Havells revenue in the Electrical Consumer Durables segment rose by 91% to Rs. 576 Cr. in Q1 FY22 from Rs. 302 Cr. in Q1 FY21. This is mainly due to the impact of severe Covid-related lockdown in India during the 1st quarter of FY21.

Others*: The revenue increased by 68% to Rs. 137 Cr. in Q1 FY22 from Rs. 82 Cr. in Q1 FY21.

*Others segment includes revenue from Motors, Pumps, Personal Grooming and Water Purifier businesses.

Lloyd: The revenue increased by 61% to Rs. 494 Cr. in Q1 FY22 from Rs. 306 Cr. in Q1 FY21.

Last year there was a complete lock-down during the months of April, May. June saw a slow recovery after lifting of lockdown. Due to this Industrial and retail performance suffered severe setback during Q1 FY21. This year during the same period Covid wave was far more ferocious, but from the business point of view, there was continuity and industry was allowed to function.

Commenting on the result, Havells’ India Chairman and Managing Director Anil Rai Gupta said “Despite a truncated quarter, overall performance has been encouraging across segments. The demand has been resilient, and we expect further improvement as Covid restrictions are progressively lifted“.

About Havells India Ltd: Havells is a leading FMEG company based in Noida, U.P. It manufactures a wide range of electrical products including consumer durables, cables, switchgears and lighting covering the entire gamut of household, commercial and industrial electrical needs. Its network constitutes over 7900 plus dealers and 40 branches in India.