Havells India jumps 5 per cent on strong Q1FY22 results
EBITDA soared from Rs 131 crore in Q1FY21 to Rs 353 crore in Q2FY22, an increase of 1.69 times. Net profit grew by a whopping 2.71 times from Rs 63 crore to Rs 234 crore.
Havells India Ltd reported a strong set of Q1FY22 results on July 21, 2021. Let’s take a quick look at the numbers.
On a quarterly basis, the company’s net revenue jumped by a mega 76 per cent from Rs 1,479 crore to Rs 2,598 crore. EBITDA soared from Rs 131 crore in Q1FY21 to Rs 353 crore in Q2FY22, an increase of 1.69 times. Net profit grew by a whopping 2.71 times from Rs 63 crore to Rs 234 crore.
The company also said that as the COVID recedes, offices have opened with rotational WFH, complying with safety protocol. Demand scenario remains resilient though there are local disruptions, owing to lockdowns or scattered market timings. Q1 sales were impacted due to the ferocious second wave of Coronavirus. The growth YoY was robust albeit on a lower base. The inflationary trend in the commodity continues, price increases being affected with a time lag.
Havells India witnesses healthy performance across divisions. Revenues from Lloyd segment were disproportionately impacted with COVID striking in the peak summer season. Overall, contribution margins were maintained sequentially despite commodity headwinds and lower sales. Margins in lighting, ECD, and Lloyd divisions were impacted by the under absorption of fixed expenses due to lower production volumes.
Havells India Limited is a leading fast-moving electrical goods (FMEG) company and a major power distribution equipment manufacturer with a strong global presence. Havells enjoys enviable market dominance across a wide spectrum of products, including industrial & domestic circuit protection devices, cables & wires, motors, fans, modular switches, home appliances, air conditioners, electric water heaters, power capacitors, luminaires for domestic, commercial and industrial applications.
The share price of Havells India touched a high of Rs 1,162.40 intraday on BSE today.