Havells India Q2 FY2026-27 Results: Revenue Reaches ₹6,417 Crore, Cables And Renewables Lead Growth Despite Margin Pressure
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Havells India’s Q2 FY27 revenue rose 34.6% year-on-year. Net profit was up 11.1%, while EBITDA grew 30.5%. Lower contribution margins, however, held back profit growth
Havells India Limited announced its quarterly results for the quarter ended 30 September 2026 through a regulatory filing to the stock exchanges on 22 October 2026. Q2 results reflect revenue growth, supported by strong performance across its business segments.
However, net profit grew more slowly than revenue, partly reflecting softer contribution margins and a higher base for other income in the corresponding quarter last year.
At the close on the reported date, the Havells India share price stood at ₹1,073.00, up 0.14% on the National Stock Exchange (NSE). The previous close was ₹1,071.60, and the stock opened at ₹1,069.90.
Havells India Q2 FY27: Financials Highlights
Havells India Q2 results show:
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Revenue increased to ₹6,417 crore, up 34.6% year-on-year (YoY) from ₹4,767 crore a year earlier.
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Net profit grew 11.1% to ₹353 crore, compared with ₹317 crore in Q2 FY26.
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Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to ₹576 crore from ₹442 crore, a 30.5% YoY increase.
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Profit before tax (PBT) advanced 15.1% to ₹476 crore from ₹414 crore.
The company said consumption demand remained steady despite high inflation. Operating leverage helped support EBITDA growth despite weaker contribution margins. The previous year’s other income also included a one-time gain of ₹45.27 crore from the sale of the Faridabad facility’s land and building, moderating the comparison for PBT growth.
Cables And Renewables Lead Segment Growth
Cables revenue rose 47.9% to ₹2,999 crore, while switchgear revenue increased 31.3% to ₹782 crore. Renewables recorded the fastest growth, with revenue climbing 147.8% to ₹329 crore. Lloyd Consumer revenue grew 28.4% to ₹615 crore.
The company said the growth was due to commodity-linked price increases and the trend toward larger cables. Switchgear performance benefited from stronger domestic demand and an export recovery following disruption in the first quarter. Renewables continued to expand, supported by an improved product mix.
Margin Pressure And Cash Position Remain In Focus
Overall contribution margin declined to 18.2% from 20.1% a year earlier. The company said lower aluminium prices affected cable margins, while calibrated price increases helped other parts of the portfolio offset raw-material inflation. Lighting margins were also softer due to certain project orders.
Cash and cash equivalents stood at ₹1,190 crore at the end of Q2 FY27. For the first half of FY27, revenue rose 26.7% to ₹12,927 crore, but net profit declined 2.8% to ₹651 crore. The company also indicated full-year capital expenditure of ₹1,400 crore, mainly for cable capacity expansion and a new research and development (R&D) centre.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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