Raw material inflation and pricing pressure
Rising commodity prices (copper, etc.) may compress margins if price hikes cannot be fully passed on, especially in competitive segments like fans and ACs.
HAVELLS / Q4-FY24 / risks
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Havells India · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Material risks this quarter
high
Lloyd's AC market share loss
Lloyd's Q4 AC sales grew only 6% vs industry ~20%, raising concerns about market share erosion. Management attributed this to inventory normalization and a focus on sell-out, but the trend bears watching.
Competition in switches from unbranded players
Analyst noted that brands like GM, Goldmedal, Anchor are gaining traction, and Havells may have lost share in switches. Management claimed recent market share recovery, but competitive pressure remains.