Havells Q4 Results: PAT Jumps 24% To Rs 449 Cr, Dividend of Rs 7 Approved

Havells India, a leading home appliances manufacturer, on Tuesday announced a consolidated net profit of Rs 446.7 crore for the quarter ending March 31 of the financial year 2023-24 (Q4 FY24). This reflects a robust 24.76 percent increase in net profit compared to Rs 358.04 crore reported in the same period last year. Sequentially, the net profit surged by 55.15 percent from Rs 287.91 crore in the previous quarter.

The total revenue for the quarter stood at Rs 5,434 crore, reflecting a substantial uptick of 12 percent from Rs 4,850 crore recorded in the year-ago quarter. This growth trajectory is indicative of Havells India's strong market positioning and its ability to capture opportunities amidst evolving consumer preferences and market dynamics.

Havells India reported a 20 percent growth in Earnings Before Interest, Tax, Depreciation, and Amortisation (EBIDTA), reaching Rs 636 crore for the quarter.

Notably, the company witnessed an improvement in EBITDA margins by 80 basis points year-on-year, reaching 11.7 percent, underscoring its focus on operational excellence and efficiency enhancement initiatives.

The Board of Directors of Havells India has proposed a final dividend of Rs. 6 per equity share for the fiscal year 2023-24, in addition to the interim dividend of Rs. 3 per share declared earlier in the same financial year.

This demonstrates the company's confidence in its financial performance and its commitment to rewarding shareholders.

Havells India's investor presentation highlighted several key growth drivers and strategic initiatives contributing to its robust performance. The company noted a positive start for summer products, with early indications of advantages stemming from the uptick in real estate. Moreover, ongoing industrial and infrastructure-led demand continued to bolster the company's B2B revenue, underscoring its resilience amidst evolving market dynamics.

Despite facing a higher base, switchgear delivered decent growth, while cables and wires maintained their growth momentum, driven by continued demand for infrastructure projects. Lighting experienced healthy volume growth, although overall revenue was impacted by persistent price deflation, as noted in the company's presentation.

In addition, the growth in electrical consumer durables (ECD) was fueled by summer-induced demand, with the Lloyd segment progressing on its journey of growth and profitability.

Notably, Havells India expressed excitement about the current market pickup and the outlook for the upcoming season, indicating confidence in its future growth trajectory.

Havells India's strong performance in the fourth quarter of FY24 underscores its resilience, operational efficiency, and strategic focus on driving growth and profitability. With robust financials, a diversified product portfolio, and a commitment to innovation and customer satisfaction, the company is well-positioned to capitalise on emerging opportunities and navigate through dynamic market conditions effectively.