Havells India share price rises despite Q1 profit declining 15% YoY to ₹348 crore on 'tepid' summer

The firm posted a 14.75% decline in its consolidated net profit to ₹347.72 crore in Q1 FY26 as against ₹407.9 crore in the corresponding period of the previous fiscal year due to tepid summer and subdued consumer demand.

Its revenue from operations declined 6% to ₹5,455.35 crore in the June quarter of fiscal 2026, compared to ₹5,806.21 crore a year back.

Havells India share price

The stock was trading 1.54% higher at ₹1,555 apiece on the National Stock Exchange (NSE) at 1:02 pm.

The EBITDA (Earnings before interest, taxes, depreciation, and amortisation) slumped 9.7% to ₹570 crore in the reporting quarter as against ₹576 crore a year back. The margin was at 5.6% vs 9.9%.

In an exchange filing, the company said, "Consumer demand remains subdued while industrial-infra demand maintained its growth momentum. Focus on cost discipline resulted in modest growth in expenses, containing the impact of revenue decline on net profitability."

Speaking on earnings, Anil Rai Gupta, Chairman and Managing Director, said, "Q1 was a challenging quarter with unexpected weak summer impacting the overall performance; however, we feel this is transitory and expect both revenue growth and margin improvements over ensuing quarters."

The switchgear segment revenue rose 9.3% to ₹630 crore in the quarter under review as against ₹576 crore in the three-month period that ended in June 2024. The cable segment business grew 27.1% year-on-year (YoY) to ₹1,933 crore.

The lighting and fixtures business slipped 3.1% YoY to ₹374 crore, while the electrical consumer durables business fell 14.1% to ₹906 crore.

Lloyd's performance was also impacted by the weak summer season, as the business slid 34.4% YoY to ₹1,262 crore.