Havells India Q3 Review - Strong Growth Momentum: Dolat Capital 
Workers gather a component for E-Lite LED 18 W Pride Plus lights on the production line of the light-emitting diode (LED) fixture assembly unit at the Havells India Ltd. manufacturing plant in Neemrana, Rajasthan, India. (Photographer: Udit Kulshrestha/Bloomberg)

Havells India Q3 Review - Strong Growth Momentum: Dolat Capital 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Dolat Capital Report

Q3 saw continued growth momentum with strong beat in estimates, with strong performance across segments with Lloyd growing by 70.3% YoY.

Sales was up 39.7% YoY, Ebitda was up 89.2% YoY and profit after tax was up 74.4% YoY.

Net working capital days remained relatively flat sequentially at 35 days versus 37 days previous quarter.

Larger players like Havells India Ltd. have gained market share from the unorganized players, pushed by higher festive demand, better rural reach and stronger supply chain.

Lloyd saw a growth across segments mainly in TVs and appliances with higher festive sales and ACs due to import ban, helped by its backward integration capabilities and own manufacturing facilities.

Click on the attachment to read the full report:

Dolat Capital Havells India Q3FY21 Result Update.pdf

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