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Havells posts net revenue of Rs.1,508 crore in Q2FY18

Havells posts net revenue of Rs.1,508 crore in Q2FY18

India Blooms News Service | @indiablooms | 26 Oct 2017, 05:45 pm
Kolkata, Oct 26 (IBNS): Havells India Limited, an India-based fast moving electrical goods (FMEG) company, announced its results for the quarter ended September 30, 2017 (Q2FY18).

Its product range includes Industrial & Domestic Circuit Protection Switchgear, Cables and Wires, Motors, Fans, Power Capacitors, Luminaires for Domestic, Commercial & Industrial applications, Modular Switches, Water Heaters, Air Conditioners and Domestic Appliances covering the entire gamut of household, commercial and industrial electrical needs.

Apart from Havells, its other brands include Crabtree, Standard Promptec and Lloyd.

Net profit of Havells and Lloyd grew by 17% to Rs.171 crore in Q2FY18 while Net revenue stood at Rs.1777 crore.

EBIDTA grew by 26% at Rs. 257 crore in the same quarter.

With regard to standalone performance in Q2FY18, Havells net revenue grew by 4% (6.7% on adjusted basis) to Rs.1,508 crore compared to Rs.1,452 crore in the corresponding quarter of the previous financial year.

EBIDTA grew by 17% to Rs.238 crore as against Rs.203 crore in the year-ago period.

Lloyd's standalone revenue for Q2FY18 was Rs.270 crore with an EBIDTA of 7% at Rs.19 crore.

The revenue registered growth of 11% over previous year.

The Switchgear division registered revenue of Rs.330 crore in Q2FY18 as compared to Rs.347 crore in Q2FY17.

The company attributed the flat growth to adjustments for the excise duty impact from exempted zones.

The Cable division grew by 2% to Rs.569 crore in Q2FY18 compared to Rs.559 crore in the corresponding quarter of previous year.

The Lighting and Fixtures business grew by 21% to Rs.287 crore in Q2FY18 as against Rs.237 crore in Q2FY17.

Electrical Consumer Durables grew by 4% (11% on adjusted basis) to Rs.322 crore in Q2FY18 compared to Rs.309 crore in Q2FY17.

Commenting on the financial performance, Anil Rai Gupta, Chairman and Managing Director, Havells India Limited said, “GST with high tax rates on electrical products continues to disrupt demand scenario with muted consumer offtake and delayed restocking at channel. The GST transition has been well consummated at dealer and vendor platform. We remain cautiously positive on growth in forthcoming period."