Fast Moving Electrical Goods (FMEG) company Havells India reported net profit of Rs 358.04 crore for the fourth quarter ended March 2023, up 1.6 per cent from Rs 352.48 crore in the same quarter last year, in line with the analyst estimates. A CNBC TV18 poll has reported net profit for Havells India at Rs 353 crore. The FMEG company posted revenue from operations for the quarter at Rs 4,859.21 crore, up 9.8 per cent from Rs 4,426.26 crore during the same quarter in FY22. The company’s EBITDA stood at Rs 527 crore. Havells India also recommended a final dividend of Rs 4.50 per equity share of Re 1 each for the financial year 2022-23. “The Dividend, if approved by the shareholders in the forthcoming Annual General Meeting (AGM) of the Company, shall be paid/ dispatched to the shareholders on or before 30 days from the date of AGM,” the company said in a regulatory filing.
Havells India said that while the consumer demand remained sluggish, B2B sustained steady demand, led by infrastructure/ construction. It also credited Lloyd for maintaining growth momentum. “Contribution margin improved while EBITDA margin was impacted by higher investments in brand building,” Havells India said.
Havells India segment wise performance
While the switchgears business recorded revenue of Rs 601.03 crore in the quarter ended March 2023, Havells India’s cables business posted Rs 1,568.15 crore, lighting & fixtures accounted for Rs 415.95 crore revenue, electrical consumer durables segment accounted for revenue at Rs 749.45 crore and its Lloyd consumer business accounted for Rs 1,271.02 crore revenue. “Strong construction led demand benefited the switchgear segment. However, frequent commodity price fluctuations led to lower channel inventory in cable,” Havells India said. It added that LED price fall impacted lighting revenues and fans category was impacted by higher channel stocking owing to rating change in Q3.