Havells India Ltd (HAVL) is a leading player in electrical consumer goods in India. Its key verticals include switchgears, cables & wires, lighting fixtures and consumer appliances. Q2FY22 Revenue grew by 31% YoY supported by broad based growth across products categories and higher realisation. Gross margin declined by 600bps YoY due to higher RM cost. Lower ad-spends and tight cost control measures, limited the fall in EBITDA margin to 340bps YoY to 13.8%....