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Informist, Monday, Jan. 19, 2026

--Havells: May incur capex in cable & wires business, R&D facility

--Havells: May incur capex of around INR 10 bln in FY27

--CONTEXT: Havells mgmt's comments in post-earnings concall with analysts

--Havells: May see 5-10% rise in pricing for Lloyd products in Q4

By Sunil Raghu and Simran Rede

AHMEDABAD/MUMBAI – Havells India Ltd. plans a capital expenditure of nearly INR 10 billion in the financial year 2026-27 (Apr-Mar), primarily on the cables and wires business, the company management said in a conference call with analysts after the December quarter earnings were announced.

"I think as far as cables and wires are concerned, there will be continued capex in this coming year. So, Lloyd pretty much is done in this year. But there will be a higher capex spend for the new R&D (research and development) center, which will come up," Chairman and Managing Director Anil Rai Gupta said. The company's white goods business is housed under the Lloyd brand.

The company has spent nearly INR 12 billion as capital expenditure in the first nine months of the current financial year. The company is reported to be working on strengthening its existing research and innovation, with focus on key centres in Noida and Bengaluru, integrating artificial intelligence, internet of things, and advanced materials, and expanding R&D capabilities across manufacturing plants.

Havells clocked its slowest on-year growth in net profit in eight quarters in the December quarter while its revenue from operations grew in double digits after two quarters. The company reported a consolidated net profit of INR 3.01 billion for the December quarter, up nearly 7% from a year ago. Revenue for the quarter was INR 55.73 billion, up 14% on year. The growth in revenue was primarily driven by strong demand in the cables and wires segment, sales of which rose almost 33% on year.

The management said overall consumption trend remained "modest" but saw some pickup during the festival season. "Also, there was a healthy uptick in demand for heating products...in regards to cooling products, we saw a challenging environment in the last couple of quarters. However, now the channel inventory is normalising," the management said. It is of the view that there could be a 5-10% increase in prices of products sold under the Lloyd brand in the March quarter.

On Monday, shares of Havells closed 1.5% higher at INR 1,447.10 on the National Stock Exchange.  End

Edited by Ashish Shirke

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