Havells India Projects Solar Business Growth Despite Q1 Revenue Dip

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’s Chairman & MD Anil Rai Gupta expects the solar business to scale between Rs 1,000-1,500 crore in the next few years, driven by significant growth potential. The company invested Rs 600 crore in PV module maker Goldi Solar during Q1 to boost its renewable energy segment. Despite this, Q1 revenue declined 6% to Rs 5,437.81 crore, EBITDA fell 9.9% to Rs 519.91 crore, and net profit dropped 14% to Rs 352.34 crore. Gupta views these challenges as temporary, anticipating gradual recovery ahead. Havells shares ended 1.17% lower at Rs 1,474, with 31 out of 43 analysts maintaining buy ratings and a 15.2% average upside target.