Havells India Ltd (BOM:517354)
₹ 1604.15 -38.4 (-2.34%) Market Cap: 1.01 Tn Enterprise Value: 977.09 Bil PE Ratio: 71.27 PB Ratio: 12.90 GF Score: 95/100
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Q1 2025 Havells India Ltd Earnings Call Transcript

Jul 18, 2024 / 10:45 AM GMT
Release Date Price: ₹1861.1 (-0.72%)

Key Points

Positve
  • Havells India Ltd (BOM:517354) posted good growth in Q1 FY25, driven by strong performance in cooling products like air conditioners, fans, and air coolers.
  • The company leveraged its manufacturing capacity, brand strength, and omnichannel presence to capitalize on market opportunities.
  • Cost efficiency initiatives have improved the profitability of the Lloyd segment.
  • Cables registered double-digit growth despite some revenue impact due to channel destocking.
  • The company continues to invest in brand building, differentiated offerings, and talent pool to strengthen its market position.
Negative
  • Despite a 20% revenue growth in the ECD segment, margin expansion remained flat, possibly due to higher ad spend or significant de-growth in other categories.
  • Increased competitive intensity in the switches and switchgear segment could potentially compress margins.
  • The Lloyd segment, while showing profitability, still faces challenges in maintaining consistent EBIT margins due to seasonal sales fluctuations.
  • Raw material volatility impacted revenues in the Cables & Wires segment, with a significant destocking observed in June 2024.
  • There is uncertainty about sustained improvement in consumer demand, with the company cautious about whether recent growth is a one-off or indicative of a longer-term trend.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

HVEL.NS - Havells India Ltd
Q1 2025 Havells India Ltd Earnings Call
Jul 18, 2024 / 10:45AM GMT

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Conference Call Participants
=====================
* Deepak Agarwal
JM Financials - Analyst
* Natasha Jain
Nirmal Bang Equities - Analyst
* Venkatesh Balasubramaniam
Axis Capital - Analyst
* Bhoomika Nair
DAM Capital - Analyst
* Anirudha Joshi
ICICI Securities - Analyst
* Deepak Gupta
SBI Pension Funds - Analyst
* Umang Mehta
Kotak Securities - Analyst
* Latika Chopra
JP Morgan - Analyst
* Keyur Pandya
ICICI Prudential - Analyst
* Niransh Jain
BNP Paribas - Analyst
* Shrinidhi Karlekar
HSBC - Analyst
* Ashish Jain
Macquarie - Analyst

=====================
Presentation
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Operator [1]
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