Havells India Limited (NSE: HAVELLS) announced its unaudited financial results for Q1 FY27, ending June 30, 2026. The company reported a 20% year-on-year revenue growth, reaching Rs 6,510 crores, driven by resilient demand despite inflationary pressures and uncertainties related to the West-Asia situation.

Revenue and Profitability

The net revenue for Q1 FY27 stood at Rs 6,510 crores, up from Rs 5,438 crores in the same period last year. The company’s contribution margin was 18.3%, slightly lower than the 19.7% reported in Q4 FY26. Despite higher advertising and promotional expenses, Havells managed to maintain a strong profit before tax (PBT) of Rs 401 crores, down 15.5% year-on-year.

Segment Performance

The Cables segment delivered the strongest growth at 27.0% year-on-year, followed by the Electrical Consumer Durables segment with 12.0% growth. The Renewables segment saw remarkable expansion, with revenue jumping 235.9% year-on-year, driven by strong industry tailwinds.

Financial Position

Havells’ balance sheet remains robust with total assets of Rs 14,815 crores. The company’s cash and cash equivalents stood at Rs 291 crores as of June 30, 2026. The net cash flow from operating activities was negative at Rs 186 crores due to capital expenditures and investments.

As Havells continues to calibrate and stagger price hikes to offset raw material inflation, the company remains optimistic about sustaining its growth trajectory in the upcoming quarters.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Havells India Limited

Havells India Limited belongs to the Industrials › Electrical Equipment & Parts sector. Here’s a quick read on where the business and the stock stand today.

Havells falls 10.4% over three months and has not found a floor yet. Thin margins at 7.5% leave limited room for error — any demand softness or cost spike hits the bottom line hard. The PEG of 2.67 is on the high side. However, it is acceptable for a quality compounder with a strong moat. Sellers drive 1.5x the volume of buyers. Furthermore, they controlled 16 of recent sessions versus 14 for buyers — a clear distribution signal. Revenue grows at 9.9% and profits at 16.4% CAGR — a genuinely strong business. Nevertheless, the stock drops 10.4% in three months. The market sells the stock, not the story. Watch whether that changes at the next earnings. Check Fundamentals of Havells India Limited.