Havells Q4 Results: 24% y-o-y growth in net profit to ₹449 Crore

2 May 2024 , 10:56 AM

Havells India Limited, a Fast-Moving Electrical Goods (FMEG) company, reported a 12% year-on-year growth in sales to ₹5434.34 Crore and a 24% year-on-year increase in net profit to ₹448.86 Crore for the fourth quarter ending March 2024.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 20% to ₹637 Crore in the fourth quarter of FY24.

The revenue for fiscal year 2023-24 jumped 10% year-on-year to ₹18,549.90 Crore, while the net profit increased 18.4% year-on-year to ₹1,273.21 Crore.

Anil Rai Gupta, Havells’ chairman and managing director, credited the result to sustained infrastructure-led demand, a promising start to the summer season, and early evidence of benefit from the real estate boom.

He mentioned that Havells has increased its profit margins by improving operations while also continuing to invest in long-term capabilities.

Havells’ electrical consumer durables business increased by 21% to ₹910 Crore during the period under review. Other businesses expanded by 22%, reaching ₹310 Crore. Cable revenue increased by 14%, switchgear by 8%, and lighting and fixtures by 5%. The Lloyd business increased by 6% in the quarter, to ₹1,340 Crore, from ₹1,264 Crore in the same period the previous year.

In fiscal year 2024, consolidated revenue increased by 10% year on year to ₹18,590.01 Crore, while net profit increased by 18.6% to ₹1,270.76 Crore.

The board of directors suggested a dividend of ₹6 per share for fiscal year 2023-24, which shareholders will then accept at the annual general meeting, according to the company’s filing.

At around 10.26 AM, Havells was trading 0.54% higher at ₹1,673 per piece, against the previous close of ₹1,664 on NSE. The counter rose to an intraday high of ₹1,706.85.

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