Havells India Q2 FY27 Net Revenue Rises 34.6% to Rs 6,417 crores
RESULTS
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 22 Oct 2026, 02:19 PM IST · BSE ID: d8b03849-76b8-4a7b-9672-984693e5cfb6
View Original BSE Filing (PDF)
💡
In Simple Terms
Havells India reported increased quarterly sales and profits, driven by strong performance in its cables and renewables businesses.
🤖 AI Summary
- Havells India's Q2 FY27 Net Revenue increased 34.6% YoY to Rs 6,417 crores.
- The company recorded a Net Profit of Rs 353 crores in Q2 FY27, an 11.1% YoY increase.
- Cables segment revenue grew 47.9% YoY to Rs 2,999 crores in Q2 FY27.
- Renewables segment revenue surged 147.8% YoY to Rs 329 crores for Q2 FY27.
- Half-year (H1 FY27) Net Profit declined 2.8% to Rs 651 crores compared to H1 FY26.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Q2 FY27 Net Revenue
Rs 6,417 crores
34.6%
Q2 FY27 Net Profit
Rs 353 crores
11.1%
H1 FY27 Net Revenue
Rs 12,927 crores
26.7%
H1 FY27 Net Profit
Rs 651 crores
-2.8%
Q2 FY27 Cables Revenue
Rs 2,999 crores
47.9%
Q2 FY27 Renewables Revenue
Rs 329 crores
147.8%
🏢 How This Affects the Company
The company's Net Revenue growth of 34.6% in Q2 FY27 indicates strong market demand and performance across most segments, particularly Cables and Renewables. Higher revenue in Switchgears and Electrical Consumer Durables also contributed to the overall business expansion.
Net Profit for Q2 FY27 increased 11.1% to Rs 353 crores, despite a softer Contribution margin of 18.2% compared to 20.1% YoY. However, half-year Net Profit declined 2.8% to Rs 651 crores, influenced by higher advertising & sales promotion expenses and lower other income year-on-year.
Inventory levels increased to Rs 4,992 crores as of Sept'26 from Rs 4,398 crores in Mar'26, mainly in Cables, aligning with revenue growth. The company projects full-year Capex of Rs 1,400 crores, primarily for Cables capacity addition and a new R&D center, signaling future operational expansion.
Contribution margins for Cables and Lighting & Fixtures were softer YoY, with Cables specifically impacted by aluminium price volatility. The PBT growth moderation was partly due to a Rs 45.27 crores one-time gain from land/building sale in Q2 FY26 not recurring in Q2 FY27.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders based on this financial results update.
👤
Who Is Affected
All shareholders are affected by the company's financial performance, specifically the 11.1% YoY increase in Q2 FY27 Net Profit to Rs 353 crores and the 2.8% decline in H1 FY27 Net Profit to Rs 651 crores.
🔍
Management Signal
Management is focused on capacity expansion, particularly in Cables with a projected Rs 1,400 crores Capex for FY27, and offsetting raw material inflation through calibrated price hikes.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q3 FY27 financial results — check for sustained revenue growth across segments.
Updates on Capex utilization — monitor progress on Cables capacity and R&D center.
Trends in contribution margins — assess impact of commodity prices on profitability.
MEDIUM RISK
Decline in H1 FY27 Net Profit and softer Q2 Contribution margins, particularly in Cables and Lighting, indicate profitability pressures.
💡 Investor Takeaway
Havells India reported Q2 FY27 Net Revenue of Rs 6,417 crores, up 34.6% YoY, with Net Profit at Rs 353 crores, an 11.1% YoY increase. However, H1 FY27 Net Profit declined 2.8% to Rs 651 crores. Cables and Renewables segments drove revenue growth.
⚖️ Strengths & Concerns
✅ Positives
- Q2 FY27 Net Revenue grew 34.6% YoY to Rs 6,417 crores, with strong growth across all business categories.
- Renewables segment revenue saw a substantial increase of 147.8% YoY to Rs 329 crores in Q2 FY27, indicating rapid scaling.
⚠️ Concerns
- Half-year (H1 FY27) Net Profit declined 2.8% to Rs 651 crores compared to Rs 670 crores in H1 FY26.
- Q2 FY27 Contribution margin decreased to 18.2% from 20.1% YoY, primarily due to cables and lighting margins.
📅 Company Track Record
Havells India's Q1 FY27 standalone net profit declined 15.29% to Rs 298.43 crores despite a 19.72% revenue growth. The company declared a total dividend of Rs 10 per share for FY26.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What was Havells India's Net Revenue in Q2 FY27?
Havells India reported a Net Revenue of Rs 6,417 crores in Q2 FY27, marking a 34.6% increase compared to Q2 FY26.
What was Havells India's Net Profit in Q2 FY27?
The Net Profit for Havells India in Q2 FY27 was Rs 353 crores, an increase of 11.1% from Rs 317 crores in Q2 FY26.
How did Havells India's Cables segment perform in Q2 FY27?
The Cables segment revenue for Havells India grew by 47.9% YoY to Rs 2,999 crores in Q2 FY27.
What was Havells India's Half-Yearly Net Profit for H1 FY27?
Havells India's Half-Yearly Net Profit for H1 FY27 was Rs 651 crores, which is a decline of 2.8% compared to Rs 670 crores in H1 FY26.
What is Havells India's projected Capex for FY27?
Havells India's projected Capex for the full year FY27 is Rs 1,400 crores, primarily allocated for Cables capacity expansion and a new R&D center.
Questions based on this BSE filing only. For information purposes.