HAHavells India517354Electrical consumer durables

Havells India reported 35% revenue growth with EBITDA margin contracting 30 basis points, as management discussed demand trends and margin pressure in cables business

By ScoutQuest · Fri 23 Oct 2026, 9:27 AM IST · 1 min read

Revenue growth

35 percent

EBITDA margin contraction

30 basis points

Cables and wires margin H1

above 15 percent

Cables and wires margin last year

over 17 percent

Expected cables margin going forward

15 to 16 percent

Heard on business television between 09:27:30 - 09:30:30 IST.

• Company reported 35% growth in revenues while EBITDA margin contracted 30 basis points, with Lloyd being a pain point.
• CMD Anil Rai Gupta said demand momentum continued into Q3, with positive early trends from modern format retail and e-commerce for the festive season.
• Said fans are in a low/off season, but small domestic appliances, personal grooming products and Lloyd TVs/LED panels saw better traction.
• Attributed margin decline mainly to cables business due to fall in aluminum prices; said cables and wires margins were above 15% in first six months versus over 17% last year, expects 15-16% to continue.
• Noted increased competitive intensity in cables with a new big player entering, while switchgear business (B2C) continues to do well with recovering margins; also cited higher copper costs as a factor.

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