Havells India's Q3 earnings are in-line with street estimates with a 30 percent rise in the topline and a similar jump in the profits also. In an interview with CNBC-TV18, Anil Rai Gupta, CMD of Havells India spoke about the results and his outlook for the company.
We are entering into the season with a lot of positive hope. 25-26 percent growth is a very decent growth. We are expecting a decent growth in the coming quarters with new product additions of water heaters, appliances which are doing very well, fans are doing very well, he said.
We are quite hopeful that we will be able to see decent growth in the coming quarters, he added.
Expecting a decent growth in the cables business. Goods and services tax (GST) was high at 28 percent, thankfully the government decided to bring it down to the pre-GST rates of 18 percent which is a big boost to the cables and wires segment and in the coming quarters we should be seeing decent growth in the cables and wires business, said Gupta.
According to him, GST has been a big boon to the organised manufacturers, also to the consumers because a lot of cost inefficiency which was there in the system of taxes is being passed on to the consumers.
It is beneficial for the government as well because compliance is increasing. Overall it is a win-win for all the stakeholders, whether it is manufacturers, government or the consumers, he further mentioned.
Eventually, GST will pan out to be a very good thing for manufacturers as well, he said.
Speaking on margins, he said, we plan to retain margins in most of our business categories.
For full interview, watch accompanying video...
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