Havells India Ltd. has released its financial results for the quarter ending September 30, 2024 (Q2 FY24), showing a robust year-on-year (YoY) growth across several key metrics. The company’s quarterly performance also reflects stable quarter-on-quarter (QoQ) trends with slight fluctuations in profitability and expenses.
Havells India Year-on-Year (YoY) Performance (Q2 FY24 vs Q2 FY23):
- Revenue from operations:
- Q2 FY24: Rs 4,539.31 crore
- Q2 FY23: Rs 3,900.43 crore
- YoY Growth: 16.4% increase
- Profit before tax (PBT):
- Q2 FY24: Rs 363.26 crore
- Q2 FY23: Rs 458.04 crore
- YoY Decline: 20.7% decrease, reflecting higher costs and other expenses despite revenue growth.
- Net profit:
- Q2 FY24: Rs 267.7 crore
- Q2 FY23: Rs 249.08 crore
- YoY Growth: 7.5% increase
- Total expenses:
- Q2 FY24: Rs 4,268.94 crore
- Q2 FY23: Rs 3,617.49 crore
- YoY Increase: 18% increase due to higher input costs, employee benefits, and other operational expenses.
- Earnings per Share (EPS):
- Q2 FY24: Rs 4.28
- Q2 FY23: Rs 3.97
- YoY Growth: 7.8%
Havells India Quarter-on-Quarter (QoQ) Performance (Q2 FY24 vs Q1 FY24):
- Revenue from operations:
- Q2 FY24: Rs 4,539.31 crore
- Q1 FY24: Rs 5,806.21 crore
- QoQ Decline: 21.9% decrease, reflecting a seasonal drop in demand after a strong Q1.
- Profit before tax (PBT):
- Q2 FY24: Rs 363.26 crore
- Q1 FY24: Rs 549.04 crore
- QoQ Decline: 33.8% decrease due to increased expenses and lower revenue.
- Net profit:
- Q2 FY24: Rs 267.7 crore
- Q1 FY24: Rs 407.51 crore
- QoQ Decline: 34.3% decline
- Total expenses:
- Q2 FY24: Rs 4,268.94 crore
- Q1 FY24: Rs 5,334.54 crore
- QoQ Decline: 19.9% decline, reflecting a reduction in costs after a high-spending Q1.
- Earnings per Share (EPS):
- Q2 FY24: Rs 4.28
- Q1 FY24: Rs 6.49
- QoQ Decline: 34.1%
Havells India Segmental Performance (YoY Comparison):
- Cost of raw materials and components consumed:
- Q2 FY24: Rs 2,460.52 crore
- Q2 FY23: Rs 2,087.24 crore
- YoY Growth: 17.9% increase
- Purchase of traded goods:
- Q2 FY24: Rs 913.90 crore
- Q2 FY23: Rs 281.51 crore
- YoY Growth: Over 224.6% increase, reflecting strategic changes in sourcing.
- Employee benefits expense:
- Q2 FY24: Rs 464.60 crore
- Q2 FY23: Rs 461.85 crore
- YoY Growth: Marginal increase of 0.6%
- Depreciation and amortization:
- Q2 FY24: Rs 94.62 crore
- Q2 FY23: Rs 81.18 crore
- YoY Growth: 16.5%
Havells India has maintained steady profitability and revenue growth YoY, with a notable increase in operating income. However, QoQ figures indicate a seasonal decline, particularly in profit and overall revenue, as the company faced higher expenses related to raw materials and operational costs.
The company remains focused on long-term growth with strong fundamentals, but investors should monitor upcoming quarters for margin improvements and cost optimization.
Disclaimer: The information provided is for informational purposes only and should not be construed as financial advice. Readers are advised to consult their financial advisor before making any investment decisions.
