According to reports from Live Mint, Havells India Ltd's shares have recovered about 5% from their 52-week low of ₹1,250.10 apiece on 2 February, but remain 6% down in the past two weeks since the West Asia conflict began. The stock opened with a significant gap down of 9.72%, touching an intraday low of ₹1,261.75 and maintaining this decline throughout the trading session. Despite some recovery attempts during the day, the stock continues to face pressure from rising commodity costs that threaten profit margins across multiple sectors.
As reported by Elara Securities analyst Harshit Kapadia, rising prices of crude oil, copper, and PVC following Iran-US-Israel tensions will create margin stress for most companies, with Havells being no exception. The cables segment, which formed 39% of total consolidated segment revenues in the nine months ended December (9MFY26), faces raw material inflation as a key headwind. According to recent analyst interactions with Motilal Oswal Financial Services, margins are expected to contract quarter-on-quarter as the company exhausts low-priced inventory procured in earlier quarters.
According to Live Mint reports, in Q3FY26, cables revenue grew by 33% year-on-year, driven by over 20% volume expansion and price hikes to cope with commodity cost inflation. Cables Ebit margin expanded 77 basis points year-on-year in Q3 to 11.8%, but dropped 190 basis points versus Q2. Within the segment, wires operate at around 65% capacity utilization, while cables run at more than 90% utilization. The company's two new upcoming cable plants in Rajasthan and Bengaluru would aid medium-voltage expansion and entry into higher-value HT categories.
As reported by Live Mint, the Lloyd Consumer business, which includes room air-conditioners (RAC), remains a significant concern amid lingering demand weakness and elevated channel inventory. The segment reported an Ebit loss of ₹7.6 crore for 9MFY26 and 25% year-on-year drop in revenues. The onset of summer was delayed this year, and given high channel inventory, RAC sales growth could be adversely impacted even as the season looks set to be intense. The company has implemented 5-10% price hikes in RACs to offset currency impact, BEE rating revisions, and input cost inflation.
According to technical analysis reports, Havells India is classified as a high beta stock with an adjusted beta of 1.20 relative to the Sensex, making it more sensitive to market fluctuations. The stock has recorded a three-day losing streak of 3.04% and is currently trading below all major moving averages including 5-day, 20-day, 50-day, 100-day, and 200-day periods. The company's mojo grade has been downgraded from Hold to Sell on 20 January 2026, with a low market cap grade of 2 suggesting increased caution from market analysts. Despite a positive return of 7.02% over the past month outperforming the Sensex, the stock's underperformance relative to sector peers and the Sensex indicates specific company-specific headwinds beyond broader market pressures.
