HAVELLS · Consumer Durables
Havells India Ltd. reported revenue of ₹5,442 cr for January to March 2024, — on the year and +23.3% on the quarter.
Operating profit (EBITDA) was ₹635 cr, a margin of 11.7%, — on the year and +186 bps on the quarter.
Net profit was ₹447 cr, — on the year and +55.2% on the quarter, with earnings per share of ₹7.13.
Retail growth comes from new stores and from sales at existing stores; the statements show the total, the filing shows how much each contributed. The quarterly statements do not carry same-store sales, stores added and revenue per square foot; those come with the filing read.
On earnings per share of ₹20.27 over the last four quarters, the stock at ₹1,121.00 trades at 55.3 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹4,414 cr | ₹5,442 cr | ₹5,806 cr | ₹4,539 cr | ₹4,889 cr | ₹6,544 cr | ₹5,455 cr | ₹4,779 cr | ₹5,588 cr | ₹6,705 cr | ₹6,518 cr | ₹6,432 cr |
| YoY | — | — | +20% | +16% | +11% | +20% | −6% | +5% | +14% | +2% | +19% | +35% |
| EBITDA margin | 9.8% | 11.7% | 9.9% | 8.3% | 8.7% | 11.6% | 9.5% | 9.2% | 9.2% | 10.9% | 7.1% | 8.9% |
| Other income, % of PBT | 14% | 13% | 14% | 26% | 17% | 10% | 15% | 22% | 2% | 34% | 14% | 7% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 26% | 25% | 26% | 26% | 26% | 26% | 26% | 23% | 26% | 21% | 26% | 26% |
| Net profit | ₹288 cr | ₹447 cr | ₹408 cr | ₹268 cr | ₹278 cr | ₹517 cr | ₹348 cr | ₹318 cr | ₹300 cr | ₹723 cr | ₹290 cr | ₹349 cr |
| YoY | — | — | +42% | +8% | −3% | +16% | −15% | +19% | +8% | +40% | −17% | +10% |
| Core profit YoY | — | — | +49% | −5% | −7% | +21% | −15% | +20% | +27% | −4% | −16% | +36% |
| EPS | ₹4.59 | ₹7.13 | ₹6.51 | ₹4.28 | ₹4.44 | ₹8.26 | ₹5.55 | ₹5.09 | ₹4.80 | ₹11.53 | ₹4.63 | ₹5.57 |
| Flags | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | 2 | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Havells India Ltd. reported revenue of ₹5,442 cr (— on the year) and net profit of ₹447 cr (— on the year) for January to March 2024.
None of the 2 checks that could run raised a question.
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.