Overview

• Havells India reported standalone net profit of ₹352.3 crore for Q1 FY26, down 14% year-on-year due to weak consumer spending after unseasonal rains and a curtailed summer
• Revenue from operations declined 6% to ₹5,437.8 crore, falling short of Bloomberg-tracked analysts’ estimate of ₹6,049 crore
• EBITDA slid nearly 10% to ₹520 crore, driving operating margin down to 9.6% from 9.9% a year earlier
• Shares swung in early trade and were 0.7% higher by 9:25 a.m., extending a 13% drop over the past 12 months and an 8% year-to-date decline
• Most analysts maintain buy ratings with an average price target implying an 11% upside and foresee a pickup in demand during the festive season