Havells (India) Q3 Report 2022

Results Summary:

• Revenue growth predominately volume driven
• Moderating consumer demand amidst retail inflation
• Margin improved sequentially with stability in RM prices in Q3
• Lloyd growth momentum maintained; however, margins remain under pressure owning to high-cost inventory and market competitiveness
• Accelerated investment on brand with spend of Rs 128 cr as against Rs 100 cr Q3 last year