Profit before tax stood at Rs 474.56 crore in the first quarter of FY26, down 14.13% year-on-year from Rs 552.67 crore reported in the same quarter of the previous fiscal year.
EBITDA for the June 2025 quarter declined 9.8% to Rs 520 crore, compared to Rs 576 crore reported in Q1 FY25. The EBITDA margin also narrowed to 9.6%, down from 9.9% in the corresponding quarter of the previous year.
The company attributed the decline in profitability to a tepid summer season this year, in stark contrast to a strong cooling season last year, which led to a significant drop in demand for cooling products. While consumer demand remained subdued, the industrial and infrastructure segments continued to maintain their growth momentum. The company also noted that a continued focus on cost discipline resulted in modest growth in expenses, which helped contain the overall impact of revenue decline on net profitability.
On the segmental front, revenue from the electrical consumer durables (ECD) segment stood at Rs 906 crore, down 14.1% YoY, as unseasonal rains and a shorter summer season impacted demand for fans and air coolers. Switchgear revenue rose to Rs 630 crore, up 9.3% YoY, while the cable business recorded strong growth with revenue of Rs 1,933 crore, up 27.1% YoY, supported by robust volume growth, capacity expansion, and strong industrial and infrastructure demand.
Revenue from the lighting and fixtures segment stood at Rs 374 crore, down 3.1% YoY, primarily due to approximately 10% YoY deflation in LED prices. Other revenue during the quarter stood at Rs 334 crore, marginally down by 0.8% YoY.
Revenue from Lloyd Consumer declined sharply by 34.4% YoY to Rs 1,262 crore in the quarter ended 30 June 2025. The company stated that Lloyd’s performance was impacted by a weak summer season as against a strong season last year; flattish growth in H1CY25 (Jan to June).
Havells India is a leading fast-moving electrical goods (FMEG) company and a major power distribution equipment manufacturer with a strong global presence.
The scrip rose 2.96% to currently trade at Rs 1,577.35 on the BSE.