Havells India Ltd
Havells India Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Havells is optimistic about gradual demand recovery across segments, especially solar, cables, and wires. - Expect continued healthy volume growth in wires (over 20%) and cables capacity utilization approaching 90-100%. - Focus on expanding solar and renewables business with strategic investments (e.g., Goldi Solar) and separate dedicated business unit. - No explicit 3-5 year quantifiable growth targets set, but management hopeful given India's economic trends and brand strength. - Exports have slowed (e.g., U.S. Havells expresses optimism about gradual recovery in demand, especially driven by segments like cables and wires and solar.
From Havells India Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Havells is optimistic about gradual demand recovery across segments, especially solar, cables, and wires.
- Expect continued healthy volume growth in wires (over 20%) and cables capacity utilization approaching 90-100%.
- Focus on expanding solar and renewables business with strategic investments (e.g., Goldi Solar) and separate dedicated business unit.
- No explicit 3-5 year quantifiable growth targets set, but management hopeful given India's economic trends and brand strength.
- Exports have slowed (e.g., U.S. market) due to tariffs but company continues exploring international opportunities.
- For air conditioners and seasonal products, production and inventory normalized with prudence in growth forecasting.
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Profitability & Margins
See what Havells India Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Havells has done about INR 1,200 crores capex in the first 9 months of FY '26.
- Continued capex planned for cables and wires segment in the coming year.
- Lloyd’s expansion capex is mostly completed for the current year.
- A new R&D center is under construction, contributing to higher capex spend next year.
- Total capex guidance for the coming year is around INR 1,000 crores.
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Top-ranked in Consumer Durables
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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Havells India Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹6.7K Cr, net profit ₹723 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Havells India Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q4 FY25 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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Frequently Asked Questions
What were Havells India Ltd Q3 FY26 results?
Havells is optimistic about gradual demand recovery across segments, especially solar, cables, and wires. - Expect continued healthy volume growth in wires (over 20%) and cables capacity utilization approaching 90-100%. - Focus on expanding solar and renewables business with strategic investments (e.g., Goldi Solar) and separate dedicated business unit. - No explicit 3-5 year quantifiable growth targets set, but management hopeful given India's economic trends and brand strength. - Exports have slowed (e.g., U.S. Havells expresses optimism about gradual recovery in demand, especially driven by segments like cables and wires and solar.
What is Havells India Ltd share price analysis?
Havells India Ltd currently shows a neutral. The stock trades at a P/E of 48.9 with a market cap of ₹81,458 Cr. Investors should review the full earnings analysis for detailed insights.
Is Havells India Ltd planning capital expenditure?
Havells has done about INR 1,200 crores capex in the first 9 months of FY '26.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.