Havells has posted a better-than-estimated performance in 1QFY19 led by higher margin in Cable & Wire and Electrical Consumer Durable (ECD) segments. While PAT zoomed by 73% YoY to Rs2.1bn, revenue surged by 31% YoY to Rs26.0bn mainly driven by impressive yoy performance of Lloyd (+165%, like to like growth of 14%), ECD (+29%), Lighting & Fixtures (+19%), Switchgear (+14%), and Cable & Wire (+4%). EBITDA margin expanded by 333bps yoy to 12.0% mainly led by higher margin in ECD segment (+653bps to 28.7%) and Cable & Wire segment (+511bps to 17%). The company has reported sustained revenue growth with robust improvement across product verticals. Last year during 1Q FY18, the performance was sluggish due to GST transition...