Havells stock faces a 15.4 percent Q1 profit drop after results were reported

Published on 10/04/2026 at 11:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Havells stock carries Citi's INR 1,525 target from October 1, 2026. The consensus is Buy across 36 analysts, with an average target of INR 1,374.83.

Havells, INE176B01034, Illustration mit AI erstellt.

Havells stock was trading at INR 1,040 on the NSE on October 1, 2026, up 2.36 percent from the previous close. The latest earnings picture is more cautious: Q1 FY27 net profit fell 15.4 percent to INR 289 crore, according to CNBC TV18.

Q1 margin pressure sets the tone

In the quarter ended June 30, 2026, Havells revenue rose 19.8 percent to INR 6,614 crore from INR 5,437 crore in the year-ago quarter, while EBITDA declined 8.8 percent to INR 474 crore from INR 520 crore, CNBC TV18 reported on October 1, 2026.

The EBITDA margin contracted to 7.3 percent from 9.6 percent in the comparable quarter. Revenue growth therefore outpaced profit growth, leaving margin recovery as the key operating test for the next report.

Citi sees a recovery path

Citi maintained its Buy rating and an INR 1,525 price target on October 1, 2026, according to CNBC TV18. Against the INR 1,040 NSE price, that target stands 46.6 percent above the reference price.

The broker expects September-quarter revenue growth of 21 percent and EBITDA growth of 28 percent year over year, citing wires and cables strength, improving consumer-facing segments and lower Lloyd losses. Those figures are estimates, not reported results.

Consensus remains above the market

The analyst consensus was Buy based on 36 analysts, with 26 Buy, 6 Hold and 4 Sell ratings, according to Investing.com. The average 12-month target was INR 1,374.83, with a high of INR 1,700 and a low of INR 1,097.

Havells' trading window began closing on October 1, 2026, ahead of the board meeting for Q2 FY27 and first-half results, ScanX News reported on September 23, 2026. That upcoming report will show whether the forecast recovery begins to reach operating profit.

Havells stock stays below its yearly high

Havells stock was last at INR 1,040 on the NSE on October 1, 2026, at 3:15 p.m. IST. Its market capitalization was INR 652.7 billion, while the 52-week range was INR 1,015.10 to INR 1,520.