Havells (India) Half-Year Report 2024

Results Summary:

• Witnessed consumer demand softness; positive outlook for the upcoming festival season
• Growth primarily driven by housing segment and government’s sustained thrust on infrastructure projects
• Shift in festival led demand from Q2 to Q3

Revenue Analysis

• Switchgear growth driven by infrastructure & construction
• Power cable growth aided by infrastructure projects, higher than flexible cable
• YoY price deflation in LED continues to impact consumer lighting revenues; volume growth sustained
• Muted consumer demand & shift in festival impacted ECD revenues
• Lloyd maintained its growth momentum