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- Healthy growth across business verticals
- Omnichannel strategy including online, rural, modern trade and enterprise business penetration playing out well, adding new customers and broad basing demand channels
- There has been increased conversion in projects and B2B
- Increase in commodity cost remains unabated with severe escalation in a rather short period
- Price increase have been staggered creating a lag effect on margins. However, they maintain a positive outlook on demand growth which could support margin as well
- Switchgear growth reflecting real estate upcycle
- Higher commodity prices contributed growth in Cable & Wires
- Lighting has been beneficiary of deeper penetration and new launches
- Industrial and infrastructure expected to remain strong
- Ex cables revenue growth: 50% growth was due to commodity price increases and 50% due to volume growth.
- For the cables segment 80% growth was due to commodity price hikes.
- Capex plan (Capital expenditure): INR 300 to 350 Cr for FY-22.
- Applied for PLI scheme for components manufacturing in Air conditioning category. Full details will be available once the government approves their application.
- In others segment, motors are doing well. It will take a couple of years for the others segment to contribute a good portion to the revenue mix.
- In the Lloyds segment, 70% of the revenues comes from AC’s (Air conditioners)
- Inventories are at normalized levels.
- Supply chain disruptions is minimal for Havells because 90%+ of its production capacity is in house.
- Adequate price increase in Lloyd has been challenging due to hyper competitive environment. Margins were further impacted by under absorption of overheads due to lower production.
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