Havells India Q4 Results: 20% Revenue Growth Driven by Cables and Lloyd, Also ₹6 Dividend Declared
Business and Industry Overview:
Havells India Ltd is a well-known company that makes electrical products. It was started in 1958 by Qimat Rai Gupta and is based in Noida, Uttar Pradesh. The company makes many products used in homes, offices, and industries, such as home appliances like water heaters and air purifiers, lighting solutions like LED lights, electrical parts like switches and wires, fans, and motors. Havells sells its products in over 70 countries. The company makes most of its products in India, supporting the “Make in India” idea. It also owns brands like Lloyd (for air conditioners and refrigerators), Crabtree (for switches and wiring accessories), and Standard Electricals (for industrial electrical equipment). Havells has 11 factories in India, including places like Haridwar, Baddi, Noida, and Faridabad. These factories make high-quality products using modern technology. In the year 2025, Havells earned ₹22,284.4 crore in revenue. The company is known for making reliable, safe, and durable products. It competes with other big companies like Bajaj Electricals and Philips India but is trusted by many customers for its quality and innovation. The company focuses on improving its products to meet customer needs. Havells is a leading player in the electrical products market because of its strong focus on quality, innovation, and customer satisfaction.
Latest Stock News:
On April 23, 2025, Havells India’s share price dropped by 5% to ₹1,583.40. This happened despite the company having good results for Q4. The reason for the drop was that the management gave a cautious outlook. They said demand for cooling products like air conditioners (ACs) would be weak. This is because the summer started off mild, especially in South India. As a result, some brokerage firms changed their earnings estimates. Kotak Institutional Equities lowered its target price to ₹1,400. They also kept a ‘Sell’ rating on the stock. Equirus Securities also lowered its target price to ₹1,967. But Equirus kept a ‘Buy’ rating, saying there could be challenges in the short term. In March and April, air conditioner sales slowed down in South India. This made investors worried about the company’s performance in the first quarter. However, sales are still strong in other regions like West and Central India. Havells is hopeful for the future, especially because its air conditioner brand, Lloyd, is still investing in growth. For Q4 FY25, Havells showed strong results. The net profit increased by 15.73% to ₹517 crore. The revenue from operations grew by 20.24% to ₹6,543.56 crore, compared to ₹5,442.02 crore in the same quarter last year. For the whole financial year, Havells’ net profit increased by 15.7%, reaching ₹1,470.24 crore. Revenue grew by 17.21% to ₹22,081.33 crore. Even though the company did well, the weak demand for cooling products caused the stock price to fall. This shows how the market reacts to both good results and worries about future demand.
Segmental information:
- Electrical Consumer Durables: This includes products like fans, water heaters, air purifiers, and small home appliances. These products help make life at home easier and more comfortable.
- Lighting: This segment makes lighting products like LED lights, bulbs, and lamps. These are used in homes and offices and are energy-efficient.
- Wiring Devices: This includes switches, switchgear, and other electrical accessories. These products are important for building and using electrical systems in homes and buildings.
- Cables & Wires: Havells makes cables and wires for homes, offices, and industries. These are used to safely carry electricity.
- Industrial & Power Products: This segment focuses on bigger products like motors, transformers, and circuit protection devices. These are used in factories and large businesses.
- Lloyd: Lloyd is the brand for Havells’ large home appliances. This includes air conditioners, refrigerators, washing machines, and other similar products. Lloyd offers both expensive and affordable products
Subsidiary information:
- Lloyd Electric & Engineering Ltd: Havells bought this company in 2017. Lloyd makes home appliances like air conditioners, refrigerators, and washing machines.
- Promptec Renewable Energy Solutions Pvt Ltd: Havells took a 51% stake in this company in 2015 and later bought 100%. Promptec works in the solar energy field.
- Reo Electricals Ltd: This subsidiary makes electrical parts and accessories.
- Havells International Inc. (HII): This company is based in the USA and sells lighting products. In 2024, HII partnered with a company called KRUT LED to sell lighting in the USA.
- Havells Sylvania: Havells owned this company, which made lighting products, but in 2016, it sold most of the shares to another company.
- Havells Exim Limited: This subsidiary, based in Hong Kong, was sold to another company in 2015.
Q4 Highlights:
- Net Profit: ₹518 crore, up by 15.9% compared to the same quarter last year.
- Revenue: ₹6,544 crore, showing a growth of 20.2% year-on-year.
- Operating Profit: ₹757 crore, a rise from ₹635 crore in the previous year.
- Operating Margin: 11.58%, almost unchanged from 11.67% last year.
- Dividend: A final dividend of ₹6 per share was declared.
- Stock Performance: The stock closed 1.4% higher at ₹1,669.9 on BSE.
Financial Summary:
| Amount in ₹ Crore | Q4 FY24 | Q4 FY25 | FY24 | FY25 |
| Revenue | 5,442 | 6,544 | 18,590 | 21,778 |
| Expenses | 4,807 | 5,787 | 16,709 | 19,647 |
| EBITDA | 635 | 757 | 1,881 | 2,131 |
| OPM | 12% | 12% | 10% | 10% |
| Other Income | 76 | 69 | 249 | 303 |
| Net Profit | 447.00 | 517 | 1,271 | 1,470 |
| NPM | 8.21 | 7.90 | 6.84 | 6.75 |
| EPS | 7.13 | 8.26 | 20.28 | 23.48 |