Havells India Ltd (NSE:HAVELLS)

Q2 2026 Havells India Ltd Earnings Call Transcript

Oct 17, 2025 / 12:00 PM GMT

Release Date Price: ₹1491.5 (+1.06%)

Transcript

Key Points

Positve

Havells India Ltd (BOM:517354) reported steady growth in the cables segment, driven by strong demand for power cables.
The company has acquired a 39-acre land parcel for capacity expansion, indicating future growth potential.
LED price stabilization and increased residential demand are positive indicators for the lighting business.
The recent GST reduction by the government is expected to uplift consumer sentiment and strengthen demand.
Havells India Ltd (BOM:517354) is seeing positive momentum in rural areas and expects better demand in the upcoming quarters.

Negative

The summer products segment, including air conditioners, fans, and coolers, experienced revenue decline due to a shorter summer and higher channel inventory.
High working capital levels, particularly in the cable and Lloyd segments, have impacted cash and bank balances, affecting interest income.
Contribution margins for Lloyd have declined due to customer support schemes and offers, impacting profitability.
The company faces challenges in passing on cost increases due to competitive intensity and high inventory levels in the market.
There is a significant inventory overhang in the channel, particularly for air conditioners, which may affect primary sales in the short term.

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

HVEL.NS - Havells India Ltd
Q2 2026 Havells India Ltd Earnings Call
Oct 17, 2025 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to the Havels India Q2 F 526 on next conference call.

As a reminder, all participant lines will be in the list only mode, and there will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during the conference call, please signal an operator by pressing star, then 0 on your touchstone phone.

Please note this conference is being recorded.

I now had a conference over to Miss Bomika Nair from dam Capital.

Thank you and over to you, ma'am.

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Unidentified_2 [2]
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