Havells India

Havells India reported a mixed Q4 FY26 with 14% revenue growthCurrent reported value: 14% revenue growth. No comparable prior figure is available in the source record. in cables and wires, driven by 6% volume growthCurrent 6% volume growth. Reported change: +6% YoY. and price hikes, while the ECD segment (fans, coolers) saw degrowth due to a high base and delayed summer. The Lloyd business remained under pressure with lower revenues and margins, though management expects improvement as summer demand picks up. The solar business in the 'other' segment grew 48%Current 48%. Reported change: +48% YoY., benefiting from capacity additions and tailwinds. Margins in lighting and switchgear were impacted by cost inflation and lagged pricing, but management expects normalization. Guidance is cautious: no specific revenue or margin targets given, but focus remains on market share retention and long-term brand investments. Key risk: steep price increases across categories could dampen consumer demand, especially if the geopolitical situation worsens.