Havells’ latest quarterly results highlight the buoyancy in demand in retail as well as institutional segments
PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
Havells India continued to exhibit positive business momentum in Q2 FY22 with a 32 percent year-on-year (YoY) growth in the top line. Operating margins, however, surprised in the negative due to the ongoing concerns over cost inflation. Key result highlights The growth in the top line was driven by a sustained demand momentum and some market share gains across product categories. Cables and wires, the largest business vertical, clocked a revenue growth in excess of 40 percent and led the growth…
