Havells India Limited, a leading Fast-Moving Electrical Goods (FMEG) Company, announced its financial results

22 Jan 2023

 Havells India Limited, a leading Fast-Moving Electrical Goods (FMEG) Company, today announced its financial results for the third quarter ended December 31, 2022. Commenting on the financial performance Mr. Anil Rai Gupta, Chairman and Managing Director, Havells India Limited, said, “Steady revenue growth amidst moderating consumer demand in an inflationary environment. Margins witnessed improvements on the back of stability of raw material prices during the quarter. With continued investment in technology, consumer journey & talent, we are positively disposed towards revenue growth & profitability.” The Board of Directors of the company has declared an interim dividend of INR 3/- per equity share of INR 1/- each.

Q3 FY23 vs. Q3 FY22 (Standalone basis)

• Net revenue grew by 13% to INR 4,120 crore in Q3 FY23 as against INR 3,652 crore in the corresponding quarter previous year.

• EBITDA was INR 424 crore in Q3 FY23 as against INR 440 crore in the corresponding quarter previous year.

• Profit before Tax was INR 382 crore in Q3 FY23 as against INR 411 crore in Q3 FY22

• Net Profit was INR 284 crore in Q3 FY23 as against INR 306 crore in Q3 FY22 

Business Segments (Q3 FY23 vs. Q3 FY22)

• Switchgears business grew by 4% to INR 514 crore in Q3 FY23 as against INR 496 crore in the corresponding quarter previous year.

• Cable business grew by 17% to INR 1,412 crore in Q3 FY23 as against INR 1,206 crore in the corresponding quarter previous year.

• The Lighting and Fixtures business grew by 3% to INR 420 crore in Q3 FY23 as against INR 408 crore in the corresponding quarter previous year.

• Electrical Consumer Durables business grew by 5% to INR 935 crore in Q3 FY23 as compared to INR 893 crore in the corresponding quarter previous year.

• Lloyd business grew by 30% to INR 607 crore in Q3 FY23 as against INR 466 crore in the corresponding quarter previous year.

• Other business grew by 26% to INR 232 crore in Q3 FY23 as against INR 184 crore in the corresponding quarter previous year.