HAHavells India517354Consumer electricals

Havells Q2 net profit jumped over 11% and revenue grew over 30%, with strong cable segment growth but margin pressure from raw material inflation

By ScoutQuest · Thu 22 Oct 2026, 3:43 PM IST · 1 min read

Net profit growth

11 percent

Revenue growth

30 percent

Cable segment growth

48 percent

Street estimate for cable growth

31 percent

Lloyd segment growth

29 percent

Heard on business television between 15:43:28 - 15:46:28 IST.

• Cable segment grew 48%, higher than the street estimate of around 31%.
• Lloyd grew 29% on volume and price hikes; overall EBITDA margin dipped nearly 30 bps to 9%, largely in line with estimates.
• Cable and wire business margin fell about 360 bps due to aluminium price volatility; gross margin fell 431 bps to 30.6% on raw material inflation.
• PAT grew around 11%, in line with estimates; revenue was a beat while PAT and EBITDA were largely in line.
• Company said consumption demand remains steady despite inflation, but Lloyd contribution margin stays subdued; compared to Polycab and KEI, Havells has highest cable/wire revenue growth but lowest margin.
• Sudip Bandyopadhyay said raw material inflation will persist and flagged rising competition as a bigger looming issue; said the stock needs to surpass 1,200 resistance and isn't out of the woods yet.

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