Havells: Near-term demand uncertainty to weigh on Street sentiment

The company said that demand markets were tepid initially because of lockdowns, but picked momentum in the later half of May.

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Havells India | Markets

Ujjval Jauhari  |  Mumbai 

While Havells managed to post a better than expected performance for the quarter ending June, it is the near-term uncertainties on demand and stock valuations that are likely to weigh. The stock lost 1.85 per cent on Monday.

Despite the lockdown, while revenues declined 45 per cent year-on-year to Rs 1479 crore, it was a better than expected rebound in June sales that pushed revenues ahead of consensus estimates of Rs 1,302 crore. June saw sales grew 4 per cent year-on-year (40 per cent decline in May). Higher revenues helped Ebitda at Rs 131 crore to beat an estimate of Rs 66 crore ...
First Published: Mon, July 27 2020. 20:03 IST