Havells India Ltd Q1 PAT up 269% at Rs236cr yoy on strong EBITDA in switchgears and cables

Havells India Ltd reported 75.95% growth yoy in total sales revenues for the Jun-21 quarter on consolidated basis at Rs2,610cr

Jul 22, 2021 10:07 IST India Infoline News Service

Havells India Ltd reported 75.95% growth yoy in total sales revenues for the Jun-21 quarter on consolidated basis at Rs2,610cr. On a sequential basis, the revenues were down -21.84% compared to Rs3,339cr in the Mar-21 quarter on account of COVID 2.0 impact on output. There was a general pick up in all the operating divisions and verticals in the Jun-21 quarter on a comparable yoy basis, including the rather lagging Lloyds consumer division.

Among the specific key verticals, the switchgears vertical saw sales growth of 98% yoy at Rs377cr, the cables division saw growth in sales of 7% at Rs807cr, lightings and fixtures grew by 51% at Rs214cr, the electrical consumer durables vertical grew by 91% at Rs576cr while the Lloyds division also grew by 63% at Rs498cr. Of course, low base was a reason, but the all round bounce in all verticals is a positive story.

For the Jun-21 quarter, the consolidated operating profits were up 312.5% yoy at Rs294cr, but operating profits were lower sequentially by -33.7% due to COVID 2.0 impact on the top line even as costs were largely static. Operating margins for the Jun-21 quarter stood at 11.25%, better than 4.80% in the Jun-20 quarter but lower than 13.27% in the sequential Mar-21 quarter.

Net profits for the Jun-21 quarter were up 268.5% on a yoy basis at Rs236cr even as sequential profits fell by -22.4% on COVID 2.0 effect. Switchgears reported the best EBITDA margins of over 33% in the Jun-21 quarter. The net margins at 9.03% in the Jun-21 quarter was higher yoy compared to 4.31% in Jun-20 quarter but marginally lower than 9.10% recorded in sequential Mar-21 quarter.


Financial highlights for Jun-21 compared yoy and sequentially


Havells Ltd
Rs in Crore Jun-21 Jun-20 YOY Mar-21 QOQ
Total Income (Rs cr) ₹ 2,610 ₹ 1,483 75.95% ₹ 3,339 -21.84%
Operating Profit (Rs cr) ₹ 294 ₹ 71 312.59% ₹ 443 -33.72%
Net Profit (Rs cr) ₹ 236 ₹ 64 268.52% ₹ 304 -22.40%
Diluted EPS (Rs) ₹ 3.77 ₹ 1.02 ₹ 4.85
OPM 11.25% 4.80% 13.27%
Net Margins 9.03% 4.31% 9.10%

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