Havells India Limited — Q1FY27 earnings call summary

Filed 21 July 2026 · Official transcript

Management confident on resilient demand and growth momentum for FY27
Cables volumes flat; capacity ramp-up ongoing with raw material price volatility affecting sales timing
Contribution margin stable around 18.3%; margin improvement expected from operating leverage and product mix
Q1 FY27 revenue growth strong despite inflation and West Asia uncertainties
Switchgear international business (~15%) impacted by export disruptions, expected rebound in Q2
Lloyd AC volume growth single-digit; value growth higher due to price hikes
Calibrated price hikes of 7-8% on average taken to offset raw material inflation
Multiple analyst queries on pricing, margins, renewables growth, and A&P spend strategy