Havells (India) Q3 Report 2022

Results Summary
• 15% revenue growth over last year with a 27% CAGR over 2 years
• Festive demand was encouraging, however demand tapered in later part of Q3, owing to high inflation
and then omicron scare
• Margins have been under pressure with elevated commodity costs and partial transition in pricing
especially in consumer durables
• Advertising and promotion, as planned, reverted to normalized levels against last year