Havells hits new high

The company, for Q3FY21, posted a 75% (YoY) rise in net profit at Rs.349 on a 39% increase in net revenue at Rs.3166 crore.

EBITDA came in at Rs.508 crore, up 89% while margins rose from 11.8% to 16%.

The company said that the performance was on account of improvement in consumer sentiment, festive season and reduction in Covid-19 cases. Increased penetration in smaller towns and a higher rural reach also helped. Another reason was that supply chain disruption faced by suppliers with high import dependence have further supported market share gains.

Its total debt as at 31st Dec’20 stood at Rs.865 crore and total cash and investments stood at Rs.2689 crore, leading to a net cash of Rs.1824 crore.

The market is very happy with the performance, going on to rise over 12% to hit a new high at Rs.1144.10 and is among the top five gainers on the BSE since opening bell.