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Havells India Limited is a fast-moving consumer electrical and electronics manufacturer. The company produces a wide range of products including circuit protection switchgears, cables, motors, pumps, solar products, fans, LED lamps, luminaries, modular switches, water heaters, coolers, domestic appliances, personal grooming items, air purifiers, water purifiers, air conditioners, televisions, washing machines, and refrigerators. Havells has manufacturing facilities in various locations across India, including Faridabad, Alwar, Ghiloth, Neemrana, Haridwar, Sahibabad, Baddi, and Sri City. The company operates research and development facilities in Noida, Bangalore, and Ghiloth. Havells owns several brands including Havells Studio, Havells, Lloyd, Havells Crabtree, and REO. The company has over 700 Havells Exclusive Brand Stores across India. In 2017, Havells acquired the Lloyd Consumer Durable Business Division, expanding into consumer durables such as air conditioners, TVs, and washing machines.
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Company insights, generated from the most recent coverage.
Q1 FY27 net profit fell 15.3% despite 19.7% revenue growth — topline gains not translating to bottomline.
EBITDA margin compressed 230 bps to 7.3% as ad spend doubled from ₹142 cr to ₹286 cr in Q1 FY27.
Operating cash flow turned negative at -₹186 cr in Q1 FY27 vs positive ₹1,557 cr in FY26 — signals near-term working capital stress.
The Quarter story
The two most recent quarterly results, compared side-by-side.
Revenue holds steady while margins face pressure, but strong working capital management and balance sheet growth keep the company on track.
Advertising & Sales Promotion spend grows from ₹142 Cr to ₹286 Cr from Q1 FY26 to Q1 FY27, funding an aggressive market push.
Operating Profit Margin slips from 9.6% to 7.3% from Q1 FY26 to Q1 FY27, indicating rising cost inflation.
Debtor Days improve from 16 days to 11 days over five quarters, boosting cash conversion speed.
Net Profit dips from ₹352 Cr to ₹298 Cr over five quarters, signaling ongoing margin pressure.
Return on Equity rises from 17.6% to 18.1% from Q1 FY26 to Q1 FY27, demonstrating strong shareholder returns.
Lloyd Consumer segment results fall from -₹20 Cr to -₹51 Cr from Q1 FY26 to Q1 FY27, reflecting persistent operational losses.
Trade Payables grow from ₹2,597 Cr to ₹3,152 Cr over the period, optimizing supplier financing terms.
Operating Net Cash Flow swings from -₹122 Cr to -₹186 Cr over the period, highlighting seasonal working capital drains.