Sustained weak consumer demand in ECD
Management expressed caution on consumer demand recovery, noting that the strong Q1 growth may be a one-off due to summer and low base, and underlying demand remains uncertain.
HAVELLS / Q1-FY25 / risks
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Havells India · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Competitive intensity in switches and switchgear
Analyst raised concern about increased competition from national players offering longer credit periods and wider SKU ranges, which could pressure margins.
Raw material volatility impacting wires revenue
Sharp commodity price decline in June 2024 led to channel destocking, impacting wires revenue. Management noted normalization in July but risk remains if volatility continues.