FMEG major Havells India's positive outlook may be priced in valuations

Management sounded optimistic about growth in FY25

Good results for the January-March quarter (Q4) of the financial year 2023-24 (FY24) and the promise of seasonal demand for cooling have led to a positive outlook on Havells. The Q4FY24 Ebitda (earnings before interest, tax, depreciation and amortisation) and PAT (profit after tax) beat consensus due to a positive Rs 37 crore Ebit (earnings before interest and tax) in the Lloyd business (vs Rs 23 crore loss in Q4FY23). The revenue growth of 12 per cent year-on-year (Y-o-Y) was in-line and led by ECD – electrical consumer durables (up 21 per cent) and Cables (up 14 per cent) segments.