22-Oct-2026 18:26:48
HAVELLS INDIA Q2 CONCALL : 5–7% ADDITIONAL PRICE HIKES, ₹1,400 CR CAPEX PLAN & STRONG CABLES GROWTH OUTLOOK
• Q2 REVENUE UP 35% YOY, SUPPORTED BY CABLES, SWITCHGEAR, RENEWABLES & LLOYD • FY27 CAPEX PLANNED AROUND ₹1,400 CR, PRIMARILY FOR CABLES, WIRES & R&D • ADDITIONAL PRICE HIKES OF 5–7% INDICATED IN SELECTED PRODUCTS DURING Q3 FY27 • CABLES & WIRES PRICES INCREASED OVER 30% DURING PAST 12 MONTHS • SWITCHGEAR CONTRIBUTION MARGIN EXPECTED TO REMAIN IN NORMAL RANGE OF 38–40% • CABLES CONTRIBUTION MARGIN NORMAL RANGE INDICATED AT 15–15.5% • CABLES CAPACITY EXPANSION EXPECTED TO BE FULLY OPERATIONAL WITHIN APPROXIMATELY 18 MONTHS • MANAGEMENT EXPECTS STRONG CABLES DEMAND OVER NEXT 5–7 YEARS, SUPPORTED BY UNDERGROUND CABLING • LLOYD REVENUE UP APPROXIMATELY 28.5% YOY, BUT PROFITABILITY REMAINS UNDER PRESSURE • ADDITIONAL PRICING ACTIONS EXPECTED TO SUPPORT LLOYD MARGINS FROM Q3–Q4 FY27 • LLOYD TARGETING MEDIUM-TERM PROFITABILITY, WITHOUT A COMMITTED TIMELINE • LLOYD AIMS TO REDUCE AIR CONDITIONER REVENUE SHARE TOWARD 60% FROM CURRENT 75% • RENEWABLE ENERGY BUSINESS EXPANSION CONTINUES THROUGH BRANDED SOLAR PRODUCTS & DISTRIBUTION NETWORK • MANAGEMENT EXPECTS RETURN ON CAPITAL TO IMPROVE FROM CURRENT APPROXIMATELY 23% • RAW MATERIAL INFLATION, ALUMINIUM PRICE VOLATILITY & INCREASING COMPETITION REMAIN KEY RISKS
HAVELLS INDIA LIMITED