Havells India Ltd

The investor presentation for Havells India Limited (HAVELLS) for Q2 FY27 (ended September 30, 2026) reports a 34.6% year-over-year (YoY) increase in net revenue to Rs 6,417 crores, driven by strong growth across segments, including a 47.9% rise in cables revenue and a 147.8% increase in renewables. Contribution margins declined YoY to 18.2% of net revenue, primarily due to lower margins in the cables segment from falling aluminium prices, though other segments maintained stable margins. EBITDA grew 30.5% YoY to Rs 576 crores, supported by operating leverage. Profit before tax (PBT) rose 15.1% YoY to Rs 476 crores, though net profit increased by 11.1% to Rs 353 crores, reflecting a 5.5% margin. For the half-year (H1FY27), net revenue grew 26.7% YoY to Rs 12,927 crores, with EBITDA up 9.2% to Rs 1,050 crores. However, PBT fell 1.3% YoY to Rs 877 crores, and net profit declined 2.8% to Rs 651 crores. The balance sheet shows higher inventory levels, primarily in cables, aligned with revenue growth and commodity prices. Capital expenditure for FY27 is expected to reach Rs 1,400 crores, focused on cable capacity expansion and R&D. The presentation notes that while the company achieved strong revenue growth, margin pressures in certain segments and a one-time gain in the prior year affected profitability metrics.

The document presents factual financial results and operational updates without overtly positive or negative language.