This Consumer Durable stock which deals in electrical products, such as Industrial & Domestic Circuit Protection Devices, Cables & Wires, Fans, Motors, Home Appliances, Modular Switches, Air Conditioners, Electric Water Heaters, and others, was in focus after its plans to enter EV charging business.
Price Action
With a market capitalization of Rs. 95,232.45 Crores, the shares of Havells India Limited were down by 1.75 percent in the day’s trade touching a day’s low of Rs. 1,520.35 per share.
The stock reiterated from the day’s low and was trading at Rs. 1,519 per share which is down 0.09 percent lower from the previous closing price of Rs. 1,520.35 apiece. The stock has delivered 7 percent returns in the past year and has slightly outperformed the Nifty Index.
What Happened
The stocks of Havells India Limited is in focus after the company plans to enter the Electric Vehicle (EV) Charging Market in the next six months as per sources.
Vivek Yadav, the executive vice president said “The company plans to leverage the opportunities with automakers, charging infrastructure, consumers, and real estate.
Further, he said “The EV scene in India is set to grow multi-fold. We identified chargers as one of the businesses. Charging infrastructure in India is at a very nascent change” as per sources.
Havells India Limited to serve Business to Business segment at the start and gradually it can enter the consumer market.
About the Company
Havells India Limited is a leading FMEG company, that manufactures electrical products for residential, commercial, and industrial use, with a strong global presence and diverse brand portfolio including Havells, Lloyd, and Crabtree.
Business Mix
As of the December 2024 quarter, the company earns its revenue from operations of 11.79 percent from Switchgears, 34.52 percent from Cables, 9.13 percent from Lighting & Fixtures, 22.59 percent from Electric Consumer Durables, 15.18 percent from Lloyd consumers, and the remaining 6.76 percent from Others.
The Operating profits of Cables contributes the highest. The Electrical Consumer business margins are lower for Q3FY25. Further, its Lloyd segment has reduced losses on a year-on-year basis as of the December 2024 quarter.
Financial Overview
Its Revenue from operations grew by 10.76 percent year on year from Rs. 4,414 Crores in Q3FY24 to Rs. 4,889 Crores in Q3FY25. The Net Profits declined from Rs. 288 Crores to Rs. 278 Crores.
Written by Santhosh S
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