Havells Expects Uptick In Air Conditioner Business As Industry Growth Slows

Havells India Ltd. expects its Lloyd air conditioner business to grow in the medium term even as the industry has slowed down, according to Chairman and Managing Director Anil Rai Gupta.

“Lloyd has been making investments in enhancing its product portfolio,” Gupta told BloombergQuint in an interaction. “The company has made investments in new manufacturing facilities as well, which is expected to be operational by the next quarter.”

Key Q3 Earnings Highlights (YoY)

• Revenue up 28.1 percent at Rs 2,518.4 crore.
• Net profit flat at Rs 195.7 crore.
• Ebitda up 12.4 percent at Rs 294.6 crore.
• Margin at 11.7 percent versus 13.3 percent.
• Exceptional gain of Rs 21 crore in the base quarter.

Watch the full conversation here: