Shares of Havells India were trading lower despite the company reporting revenue growth above Street expectations and announcing an interim dividend, as investors reacted to a weaker-than-expected profit performance in the December quarter.
Havells India shares were down 1.46% at Rs 1,426 on the NSE, reflecting market disappointment over the Q3 profit miss.
For Q3 FY26, Havells India reported a standalone net profit of Rs 301 crore, which fell short of the CNBC-TV18 poll estimate of Rs 346 crore. On a year-on-year basis, profit rose 6.4% from Rs 283 crore in the corresponding quarter last year, but the miss versus estimates weighed on investor sentiment.
Revenue for the quarter came in at Rs 5,573 crore, marginally ahead of market expectations of Rs 5,354 crore, and marked a 14.2% year-on-year increase from Rs 4,882 crore in Q3 FY25. The revenue beat indicated steady demand recovery during the quarter.
At the operating level, EBITDA stood at Rs 524 crore, broadly in line with the Street estimate of Rs 518 crore. However, EBITDA margin came in at 9.4%, lower than the expected 9.7%, pointing to continued margin pressures. On a year-on-year basis, EBITDA increased 21.6% from Rs 432 crore, with margins improving from 8.8% in the year-ago quarter.
Alongside the results, Havells India announced an interim dividend of Rs 4 per equity share of face value Rs 1 each, translating into a 400% payout. The Board also approved the Havells Employees Stock Purchase Scheme 2026, which will be placed before shareholders for approval at the upcoming annual general meeting.
