Havells stock faces margin pressure after Q1 profit falls 59.84 percent

Published on 09/29/2026 at 21:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Havells stock carries an INR 654.7 billion market value on September 29, 2026. FY26 revenue reached INR 230.22 billion and net profit rose 14.90 percent year over year.

Havells, INE176B01027, Illustration mit AI erstellt.

Havells stock faces a sharp earnings test after consolidated Q1 FY27 profit fell 59.84 percent sequentially to INR 2.90 billion. The company generated INR 65.72 billion in revenue for the quarter ended June 30, 2026, according to The Economic Times.

Q1 margins absorb the pressure

The June quarter comparison is stark. Profit after tax declined from INR 7.23 billion in the March 2026 quarter to INR 2.90 billion, while EBIT margin dropped from 13.05 percent to 6.08 percent, based on the quarterly figures published by The Economic Times.

Revenue also declined from INR 70.01 billion in March 2026 to INR 65.72 billion in June 2026. The result leaves profitability, rather than demand alone, as the central issue for the next reporting cycle.

Analyst target moves lower

On September 7, 2026, Kotak Securities kept an ADD recommendation but reduced its fair value for Havells from INR 1,325 to INR 1,250, as reported by DSIJ. The report cited greater competitive risk in the wires and cables market and a lower valuation multiple.

That target revision contrasts with Havells' full-year FY26 performance. Revenue reached INR 230.22 billion, up from INR 217.78 billion, while net profit rose to INR 16.91 billion from INR 14.72 billion, according to The Economic Times. Annual profit therefore increased 14.90 percent even as the latest quarter showed a pronounced slowdown.

Stock valuation meets weak momentum

Havells had a market capitalization of INR 654.7 billion as of September 29, 2026, with the NSE-listed stock at INR 1,043.30 in the latest Indian market data. The same quotation showed a 52-week range of INR 1,043.30 to INR 1,520.00, placing the latest price at the low end of that interval.

The company operates in consumer durables and electrical equipment, with products spanning cables, switchgear, lighting and household appliances. For investors, the next important comparison is whether margin recovery can narrow the gap between the 14.90 percent annual profit growth and the 59.84 percent sequential decline in Q1 FY27 profit.

Havells stock stays near its yearly low

Havells India Limited was quoted at INR 1,043.30 on the NSE on September 29, 2026. The company had 7,598 full-time employees and reported operations across six core divisions, including switchgears, cables, lighting, electrical consumer durables, Lloyd Consumer and other categories.