Havells India Q1 Review - Good Results In A Covid Quarter: Dolat Capital
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Dolat Capital Report
Havells India Ltd. reported a strong set of numbers in a quarter marred by regional lockdowns.
Sales rose 75% YoY and Ebitda jumped 2.6 times YoY, due to the low base effect of Q1 FY21.
Balance sheet was robust with net cash of Rs 13 billion though sequentially lower due to working capital.
Recovery is expected in the coming quarters and Havells India is confident of managing input costs which have stabilised in the past couple of months.
Its focus continues on semi-urban and rural markets and it also expects market share gained by larger players in FY21 to sustain.
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