Havells Q1 Results FY2023, PAT at Rs. 243 crores

On 20th July 2022, Syngene International announced its quarterly results for the first quarter of FY2023

Q1FY23 Key Highlights:

- The company reported its net revenue at Rs. 4230 crores with a growth of 63% YoY

- The EBITDA for Q1FY23 was at Rs. 361 crores seeing a growth of 2% YoY.

- Profit for the quarter was reported at Rs. 243 crores with a growth of 4% YoY.

- According to the filing, revenue from Lloyd Consumer, a company which Havells had acquired in 2017, was up over two-fold to Rs 1,093.79 crore in the June quarter as against Rs. 497.46 crores.
 

Segment Revenue:

- The switchgear segment reported revenue growth of 38% YoY at Rs. 517 crores

- The cable segment reported a growth of 48% at Rs. 1193

- The Lighting and Fixtures segment reported growth at 77% with revenue of Rs. 371 crores

- Electrical Consumer Durables segment reported revenue at Rs. 838 crores with a growth of 46%.

- The other segment reported revenue at Rs. 228 crores with a growth of 66%.

Commenting on the results, Chairman and Managing Director of Havells, Anil Rai Gupta said that the company has a "robust revenue growth" in first quarter of FY23 over the corresponding quarter, which was disrupted by the second wave of the pandemic.

"Margins adversely impacted due to commodity cost fluctuation. We expect benefits from the recent cost moderation to reflect in a couple of quarters. The demand outlook remains stable in consumer and residential segments," he said.

On the result day, shares of Havells Ltd settled 2.86 percent down at Rs. 1,223.35  per share on BSE.