Havells India Q2 Results: Net Profit Surges 11% to ₹353 Crore as Revenue

• by Akanksha Mishra
• 2026-10-22 15:30:00

Leading consumer electrical and industrial equipment manufacturer Havells India delivered a strong operating performance for the second quarter on Thursday, October 22, 2026, recording an 11.2% year-on-year expansion in consolidated net profit to ₹353 crore. Underpinned by surging consumer demand heading into the festive period and a revival in trade channels, the company's top-line revenue outstripped consensus expectations to touch ₹6,416.6 crore—a massive 34.6% jump over the corresponding period last year. While persistent input cost pressures exerted slight compression on operating profitability, robust domestic off-take in core switchgear segments and steady international market recovery anchored strong volume momentum across key product categories.

Core Financial Performance: Profit and Revenue Outpace Previous Fiscal Benchmarks

The electrical goods major recorded significant gains across primary balance sheet indicators for the quarter ended September 2026:

Double-Digit Profit Expansion: Consolidated net profit rose to ₹353 crore, logging an 11.2% year-on-year increase compared to ₹317.5 crore achieved in the second quarter of the preceding fiscal year.

Top-Line Surge Exceeds 34%: Gross revenue from operations climbed 34.6% to reach ₹6,416.6 crore, expanding substantially from ₹4,766.6 crore in Q2 FY25.

Operating EBITDA Growth: Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) rose 30.6% year-on-year to ₹577 crore, up from ₹451.5 crore in the prior-year period.

EBITDA Margin Compression: Operating margins settled at 9% for the quarter, reflecting a minor contraction from 9.26% recorded in the comparative quarter due to elevated raw material and supply chain expenditures.

Street Expectations vs. Reality: Revenue and Operating Profit Beat CNBC-TV18 Poll

Havells India's operational scorecard exceeded most analytical estimates projected by market trackers:

Net Profit Meets Forecasts: The reported net profit of ₹353 crore aligned closely with the CNBC-TV18 consensus poll estimate of ₹352 crore.

Substantial Top-Line Outperformance: Actual revenue came in at ₹6,416.6 crore, topping the analyst survey projection of ₹5,937 crore by more than ₹479 crore.

EBITDA Exceeds Projections: Operating EBITDA settled at ₹576.3 crore, comfortably beating the consensus poll expectation of ₹536 crore, while reported margins of 9% matched forecast benchmarks.

Segment Dynamics: Domestic Switchgear Rebound Counters Cost Pressures at Lloyd

Performance across individual business verticals reflected differing margin dynamics and demand tailwinds:

Rising Overhead Costs Squeeze Lloyd: Elevated operational expenses and material costs continued to weigh on operating margins within the Lloyd consumer appliances portfolio, acting as a minor drag on consolidated profitability.

Domestic Switchgear Resurgence: Demand for domestic switchgear, circuit protection devices, and residential electrical distribution systems witnessed sharp gains across tier-1 and tier-2 consumption markets.

Overseas Recovery: Switchgear export shipments registered encouraging early signs of recovery, pointing to stabilizing overseas order books heading into the second half of the fiscal year.

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