Conference Call with Havells India Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.
Other Electrical Equipment/Products company Havells India announced Q2FY25 results Financial Highlights: 16.5% YoY Net Revenue growth of Rs 4,533 crore from Rs 3,892 crore in Q2FY24. 1.7% YoY growth in EBITDA of Rs 380 crore, from Rs 373 in Q2FY24. 9.4% YoY growth in PAT of Rs 273 crore, from Rs 249 in Q2FY24 Rs 3,121 crore Net Cash. Business Highlights: Decent overall growth across segments driven by improvements in consumer demand trends. High volatility in commodity prices impacted contribution margins, particularly in cable segment. Festive season shift led to advancement of A&P; spends to Q2. The insurance claim for Neemrana fire incident in 2022 has been fully settled. The loss recoverable was Rs 15.79 crore against which the Company has received Rs 32.84 crore towards reinstatement value from the insurance company. Accordingly, Rs 17.05 crore have been recognised as other Income. Decent growth in switches and domestic switchgear, however industrial switchgear (IP) growth impacted by higher base due to large institutional orders last year. Strong volume growth in the Cable segment was predominantly driven by wire, which was also aided by spillover from Q1 destocking. Robust volume growth sustained in Lighting, the pricing gradually stabilising. Broad-based performance in ECD as festive led demand pickup supported fans, SDA & water heater growth. Emerging categories in ‘others’ segment continue to improve scale. Healthy performance by Lloyd in a non-seasonal quarter Cable margins impacted owing to absorption of high-cost inventory against falling RM /sales prices during May-August 2024. Cost saving initiatives contributed to Lloyd margins. Result PDF