Havells India Q3 Results Review - Outperformance To Continue: Yes Securities
Havells India has once again delivered inline revenue growth with sequential margin improvement.
BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Yes Securities Report
Havells India Ltd. has once again delivered inline revenue growth with sequential margin improvement. Growth was aided by higher volumes across the product categories with business-to-business side faring better while business-to-consumer business saw impact of high inflationary environment.
Margins saw sequential improvement on back of stable commodity prices as most of the high‐cost inventory for Havells was liquidated in Q3.
Management expects further margin improvement in Q4 as high‐cost inventory for Lloyds would be liquidated in Q4. Managementis cautiously optimistic of demand as channelfilling for summer products has been strong for fans and room air conditioner, while rise in commodity prices from end of December could lead to margin volatility going forward.
Click on the attachment to read the full report:
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.