Havells Q4 Earnings Preview: Consumer electricals major Havells India, known for its diverse portfolio of fans, appliances, cables, and the Lloyd brand of air conditioners, is set to announce its fourth-quarter results for FY25 on April 30. According to Zee Business research, the Noida-based FMEG (fast-moving electrical goods) player is likely to clock a 15 per cent year-on-year jump in revenue, riding on strong performance in its cables and wires division, and robust summer-led demand for cooling products.
The wires and cables (W&C) segment is expected to deliver 18 per cent y-o-y growth, aided by copper restocking and capacity expansion in the cable vertical.
Margins may remain under pressure despite sequential uptick
Despite sequential improvement, EBITDA margins are projected to stay flat at 10 per cent, as input cost inflation and a more competitive environment continue to weigh on profitability. Margins are expected to rise 120 basis points quarter-on-quarter, but year-on-year comparisons may still reflect stress.
Lloyd business to shine on summer demand
The company’s consumer durables arm, Lloyd, is expected to clock a 30 per cent y-o-y jump in sales, backed by scorching pre-summer temperatures and rising demand for air conditioners. However, other verticals like switchgears and lighting may report sluggish growth due to subdued demand in real estate and institutional segments.
Outlook key as FY26 begins
Investors will keenly track management commentary on channel inventory, pricing trends, and margin sustainability going into FY26. The Q4 scorecard will be critical in gauging whether Havells can maintain growth momentum while managing cost pressures in a highly competitive landscape.
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