- Havells has announced financial results for second quarter and the half year ended 30 September 2019
- Lloyd consumer electronics brand also operates under Havells’ umbrella here
Havells’ electrical consumer durables grew by 15 per cent to Rs 551 crore in Q2 FY20 as compared to Rs 480 crore in the corresponding quarter previous year. The company also posted profit before tax (PAT) figures of Rs 205 crore in Q2 FY 20 as against Rs 254 crore in the corresponding quarter previous year.
“Demand remains sluggish extending from real estate to industrial and infrastructure segments. Consumer business except LED TV has performed reasonably. Demand outlook remains benign, though we expect better H2 on improved business efficiency,” shared Anil Rai Gupta, chairman and Managing Director, Havells India Limited.
Rs 1,500 crore investment announced last year
The company, in December 2018, had announced plans to invest Rs 1,500 crore across business segments to boost its market share in India. It had said that it was working on a five year plan to boost its consumer appliances business here.
Havells, apart from setting up a new manufacturing facility in Ghilot, Rajasthan has also pointed out towards expansion of its research and development wing. The company has 12 manufacturing facilities across Rajasthan, Haridwar, Faridabad, Shahibabad, Baddi and Guwahati.
Havells’ Q2 FY20 vs Q2 FY19: Standalone
Net revenue ex-Lloyd for Q2 FY20 grew by six per cent to Rs 2,050 crore as against Rs 1,933 crore in Q2 FY19. Company’s official statement read, “Net revenue including Lloyd grew by two per cent to Rs 2,230 crore as against Rs 2,191 crore in the corresponding quarter previous year. EBIDTA is Rs 234 crore in Q2 FY 20 as against Rs 258 crore in the corresponding quarter previous year.”
It continued, “Profit before tax is Rs 205 crore in Q2 FY 20 as against Rs 254 crore in the corresponding quarter previous year. Net profit is Rs 181 crore in Q2 FY 20 as against Rs 179 crore in Q2 FY19.”