Havells India Q2 revenue jumps 34.6%, profit rises 9.7%

Havells India Limited (NSE: HAVELLS) reported Q2 FY27 consolidated net profit of ₹349.22 crore, up 9.7% YoY. Revenue from operations increased 34.6% to ₹6,431.99 crore, reflecting strong sales growth across its electrical products business. Key Highlights • Revenue increased from ₹4,779.33 crore to ₹6,431.99 crore. • Net profit rose from ₹318.28 crore to ₹349.22 crore. • Total expenses increased 34.5% YoY to ₹5,991.98 crore. • Raw material and component costs rose to ₹3,447.25 crore from ₹2,686.72 crore. • Earnings per share increased to ₹5.57 from ₹5.09. My View Havells delivered strong revenue growth, but the relatively modest increase in net profit highlights pressure on profitability. The key concern is that expenses grew almost as quickly as revenue. Despite a 34.6% increase in sales, net profit improved by just 9.7%. Higher raw material costs remain an important factor for electrical equipment manufacturers, particularly in businesses exposed to copper and other commodities. I believe the next phase of earnings growth will depend on whether Havells can convert its strong sales momentum into better operating margins. What I'm Watching Next I will monitor raw material prices, operating margins and segment-wise profitability in Q3 FY27. If revenue growth remains strong while expense growth moderates, earnings could improve at a faster pace. Stance: Positive on revenue momentum and business scale, but cautious on near-term margins until stronger operating leverage becomes visible. Disclosure: I do not have any holding or position in the stock mentioned above.