Mumbai :  Havells India Limited, a $1.3 billion leading Fast Moving Electrical Goods (FMEG) Company and a major power distribution equipment manufacturer with a strong global footprint, today announced its first quarter performance ended 30th June, 2013.

Standalone Performance (Q1FY14 VS Q1FY13)

PAT grew by 18% to Rs 95 crore for the period ended June 30, 2013 compared to Rs 80 crore in the corresponding quarter previous year.

EBIDTA grew by 10% to Rs 141 crore as against Rs 128 crore in the corresponding quarter previous year ended June 30, 2012.

Net Income increased by 2% at Rs 1,051 crore.

OPM for the quarter showed improvement to 13.4% from 12.4% a year ago

Business Segment Performance (Q1FY14 VS Q1FY13)

The company’s consistent growth in profitability is attributed to improved margins with a shift in product mix towards consumer products.  Further, revenues for the switchgear segment grew at a healthy 14%.  New product, REO contributed close to Rs. 17 crore in sales of switchgear segment. Product expansion in Electrical Consumer Durables segment continues to drive margins with a sales growth of 6% at Rs 222 crore as against Rs 210 crore in the corresponding quarter last year.

Due to continued slackness in industrial market coupled with limited supply of copper affected the growth of Cables business. The division registered revenues of Rs. 405 crore as against Rs 431 crore in the same period last year.

Management Comments

Commenting on the financial performance, Mr. Anil Rai Gupta, Joint Managing Director (JMD), Havells India said, “Despite a challenging economic environment, emphasis on profitability has ensured healthy margins during the quarter. Our focus during the current year will be on introducing new products, expanding our market presence and improving margins. We look forward to continued business growth.”

Other Highlights

Introduced Industry’s first Premium Conventional Switch – ‘REO’ in various markets across India

Launched designer and energy saving Fans in the market

Opened 7 more Havells Galaxy stores taking the total number to 206 stores across India.

Source : Sachin Murdeshwar