Havells India reported a 6 per cent year-on-year growth in its switchgear business during Q1 (April to June) of FY25.
In a release, Havells India said that its switchgear business recorded revenues of Rs.576 crore in Q1FY25 – up 6 per cent from Rs.541 crore in Q1FY24.
Commenting on the company’s financial performance in Q1FY25, Anil Rai Gupta, Chairman & Managing Director, Havells India Ltd, said, “We are enthused by the overall performance led by summer-centric portfolio. Our cost initiatives are also yielding results, supporting margin improvement. We continue our investments into brand, products and talent pool, as we feel excited about economic and business growth.”
In an earnings presentation, Havells India said that the domestic switchgear business grew by 12 per cent year-on-year in Q1FY25. However, certain export orders shifted to the next quarter, thereby impacting overall growth of the business segment.
Cables business
The cable business showed a modest growth of 2 per cent, with revenues reaching Rs.1,521 crore in Q1FY25 from Rs.1,485 crore in Q1FY24.
There was healthy growth in the power cables segment, the presentation said. However, revenues from the wires business were impacted by channel de-stocking with sharp decline in commodity prices in June 2024.
Also read: Havells India Plans Expansion At Alwar Cable Plant
