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Values in Rs. in  Crores

Havells Sep 23 Year on Year Revenue Surge by 6.0% to Rs..3900 Crore and Year on Year Profit balloons by 33.2% to Rs.249 Crore. Quarter to Quarter Revenue Decreases Sharply by 19.3% and Q to Q Profit dwindle by 13.2%

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Revenue Analysis:

Havells, has reported a revenue of Rs. 3900 Crore, which has soars by 19.3% as compared to previous quarter revenue of Rs. 4834 Crore. As compared to revenue of September-22, there is a grown by 6.0% from Rs. 3679 Crore. to Rs. 3900 Crore.


Market Expectations V/s Actual

The Market Estimate of the Revenue was Rs.4859.75 Crore . Company's reported Revenue of Rs. 3900 is below than expectation.


Segment Revenue and Analysis

The Major Segments have been, Cables ,Lighting & Fixtures,Electrical Consumer Durables and Switchgears. The share of each major segments are Cables : 1470 Crore [37.7%] ,Lighting & Fixtures : 400 Crore [10.3%],Electrical Consumer Durables : 733 Crore [18.8%] and Switchgears : 534 Crore [13.7%].


Profit and Cost Analysis as Compared to Previous June'23 Quarter Results:

Quarterly Profit has skies by 33.2% to Rs.249 Crore from Rs. 187 Crore, when compared with year ago quarter results. In comparison with preceding quarter of June, 2023 , quarter profit has shrinks by 13.2% to Rs.249 Crore from Rs. 287 Crore. Net Profit % of the Company has remained at 6.4% compared to 5.9% in previous quarter and 5.1% in year ago quarter.

On analysis, it is observed that this Quarter's EBITDA (Operating Profit) Margin has nearly remains regular to 9.5% from 8.3% as compared with June, 2023 quarter. The reason for the nearly maintains same of EBITDA Margin is due to,

a) Cost of Sales has dwindle to 66.7% (Previous Quarter: 69.6%). Cost of Sales in absolute terms has plunge from Rs. 3366 Crore to 2602 Crore.

b) Employee Cost has flies to 9.7% (Previous Quarter: 7.4%). Employee Cost in exact value has crosses from Rs. 357 Crore to 378 Crore.

c) Other Expenses has slip to 14.1% (Previous Quarter: 14.7%). Other Expenses lessen from Rs. 709 Crore to 548 Crore.

The finance cost has soars from Rs. 8.47 Crore to 9.33 Crore by 10.2%.


Key Matrix:

Price to Earning (PE) ratio of the company is 75.92 as compared to the Industry PE of 72.85. PE is better placed which signifies that neither company is overvalue or undervalued. Companies Return on Equity (ROE) is 17.1% and Return of Capital Employed (ROCE) is 23.5%.


Share Price Movement:

The Return on Share Prices were -4.3% in past one month, 4.3% in 3 months, 12.5% in 6 months, 11.8% in 12 months, -3.9% in 24 months.

Summary:

To summarize, as compared to June'23, Revenue has soars by 19.3%. Gross Margin has zooms from 30.4% to 33.3%. EBITDA Margin has nearly remains regular to 9.5% from 8.3%. and Net Profit After Tax Margin has shrinks to 6.4% from 5.9%.


The Brief of Quarterly Results is as follows:

Havells India Limited

Particulars (In Cr.)
Sep, 2023
Jun, 2023
Mar, 2023
Dec, 2022
Revenue
3900.3
4833.8
4859.2
4127.6
Cost of Goods Sold
2601.9
3365.9
3380.3
2765.6
Employee Cost
378.3
357
327.9
328.2
Other Expenses
548.3
708.9
623.9
610.1
EBITDA
371.8
402
527.2
423.6
Depreciation
79.7
76.3
77.4
74.6
Interest Expense
9.3
8.5
9.8
7.3
Other Income
52.5
64.8
46.7
39.6
Profit B4 Excep. Items
335.3
382.1
486.7
381.4
Exception Items
0
0
0
Net Profit Before Tax
335.3
382.1
486.7
381.4
Taxes
86.2
95
128.7
97.9
Net Profit After Tax
249.1
287.1
358
283.5
Gross Margin %
33.30%
30.40%
30.40%
33.00%
Employee Cost %
9.70%
7.40%
6.70%
8.00%
Other Expense Cost %
14.10%
14.70%
12.80%
14.80%
EBITDA %
9.50%
8.30%
10.80%
10.30%
Net Profit After Tax %
6.40%
5.90%
7.40%
6.90%

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