Havells stock: Q2 revenue jumps 34.6% as cables lead growth

Published on 10/30/2026 at 01:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Havells stock is in focus after strong second-quarter growth across core segments. Management said demand stayed steady despite inflation and cited macroeconomic uncertainty.

Q2 growth broadens across segments

Consolidated net profit increased 9.72 percent year on year in the September quarter.
Cables revenue rose 47.9 percent, while switchgear revenue increased 31.3 percent.
Renewables revenue more than doubled to INR 329 crore during the quarter.

Havells, INE176B01034, Illustration mit AI erstellt.

Havells India reported a sharp expansion in its September-quarter business on October 22, 2026, with consolidated revenue rising 34.57 percent year on year to INR 6,432 crore. Consolidated net profit increased 9.72 percent to INR 349.22 crore, according to a Business Standard report citing Press Trust of India.

Cables lead the segment performance

The cables business remained the largest reported segment, with revenue increasing 47.9 percent to INR 2,999 crore. Business Standard attributed the growth to commodity-linked price increases and a shift toward larger-sized cables.

Switchgear revenue rose 31.3 percent to INR 782 crore, while electrical consumer durables revenue increased 10.7 percent to INR 1,072 crore. Lighting and fixtures revenue grew 7 percent to INR 449 crore. Renewables revenue reached INR 329 crore, and Lloyd Consumer revenue rose 28.4 percent to INR 615 crore.

Demand was steady, margins remain relevant

Chairman and Managing Director Anil Rai Gupta said demand remained steady despite an inflationary environment. He also pointed to continuing macroeconomic uncertainty while expressing optimism about the festive season.

The revenue growth was therefore broader than a single product category, although the reported profit increase was more moderate than the top-line expansion. For investors, the mix between volume growth, commodity-linked pricing and segment margins remains important when assessing the durability of the result.