Havells Ltd reported 39.67% growth yoy in Dec-20 quarter consolidated revenues at Rs3,175.20cr. The company reported growth across its key product lines of switch gears, lighting products, cables and electric consumer durables. Even the struggling Lloyd consumer business division showed a positive sharp growth.
For the Dec-20 quarter, the consolidated operating profits were up 107.95% at Rs445.66cr. This was on the back of higher revenues with lower advertisement costs. As a result of this, the operating margin or OPM expanded from 9.43% in the Dec-19 quarter to 14.04% in Dec-20 quarter.
Consolidated Profit after tax (PAT) for the Dec-20 quarter was up 74.53% at Rs350.14cr on better operational performance, despite higher tax outgo. PAT margins expanded from 8.83% in Dec-19 to 11.03% in Dec-20.
Financial highlights for Dec-20 compared yoy and sequentially
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Havells Ltd |
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Rs in Crore |
Dec-20 |
Dec-19 |
YOY |
Sep-20 |
QOQ |
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Total Income (Rs cr) |
₹ 3,175.20 |
₹ 2,273.29 |
39.67% |
₹ 2,459.49 |
29.10% |
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Operating Profit (Rs cr) |
₹ 445.66 |
₹ 214.31 |
107.95% |
₹ 362.84 |
22.83% |
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Net Profit (Rs cr) |
₹ 350.14 |
₹ 200.62 |
74.53% |
₹ 326.36 |
7.29% |
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Diluted EPS (Rs) |
₹ 5.59 |
₹ 3.21 |
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₹ 5.21 |
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OPM |
14.04% |
9.43% |
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14.75% |
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Net Margins |
11.03% |
8.83% |
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13.27% |
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Key takeaways from the Dec-20 quarter results
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The company saw its demand pick up due to a pick-up in construction and infrastructure activity. The largest segment of Havells; cables and electrical consumer durables saw strong growth on yoy basis. Even switchgears and lighting fixtures showed growth.
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The good news was that the Lloyd Electric division which Havells had taken over for its white goods franchise, has also shown good growth. This was one of the major laggard businesses of Havells in last few quarters.
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