22-Oct-2026 14:21:43
HAVELLS Q2: STRONG GROWTH ACROSS SEGMENTS; CABLE & LLOYD MARGINS UNDER PRESSURE
• Switchgear: Strong growth supported by domestic demand recovery and rebound in exports after Q1 disruptions • Cables: Revenue growth driven by commodity-linked price hikes and higher-sized cable sales • Lighting: Demand improved with price stabilisation, although margins remained soft due to project orders • ECD: Growth across product categories, indicating healthy consumer demand • Renewables: Continued rapid expansion with improving margins supported by better product mix • Lloyd: Healthy revenue growth driven by volumes and price hikes, but margins remained subdued due to raw material inflation and under-absorption • Cable Margins: Aluminium price volatility impacted profitability; H1 contribution margin at ~15%, in line with long-term average
HAVELLS INDIA LIMITED