Havells India: Cost pressure surfaces, but growth remains robust
Havells’ latest quarterly results highlight the buoyancy in demand in retail as well as institutional segments
October 22, 2021 / 10:59 AM IST
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
Havells India continued to exhibit positive business momentum in Q2 FY22 with a 32 percent year-on-year (YoY) growth in the top line. Operating margins, however, surprised in the negative due to the ongoing concerns over cost inflation.
Key result highlights
The growth in the top line was driven by a sustained demand momentum and some market share gains across product categories. Cables and wires, the largest business vertical, clocked a revenue growth in excess of 40 percent and led the growth...