Havells turns off
![No Image](https://images.sptulsian.com/articles/Havells-turns-off.png)
Havells closed yesterday in the red at Rs.616.90 and today it only went down further to hit a new 52-week low at Rs.588.50. It has since then recovered from the low but remains firmly in the red at Rs.608 levels.
The company in Q3FY20was impacted due to the slowdown in industrial products though it was balanced to some extent by a more stable consumer segment.
For the quarter, Havell’s consolidated net profit rose 3% (YoY) to Rs.201 crore though total income declined 10% to Rs.2298 crore.
EBITDA was down 8% at Rs.267 crore though margins rose from 11.6% to 11.8% on the back of cost optimization.
The deterioration in economic macros, sectoral liquidity challenges and slowdown in infrastructure segment impacted demand for industrial cables, professional lighting and industrial switchgear.
The good part – its total debt as at 31st Dec’19 stood at Rs.54 crore and cash balance is at Rs.1152 crore, making net cash at hand at Rs.1098 crore.