Havells India Management Guidance Tracker

Management expects capex of around ₹1,000 crore next fiscal, primarily for cables/wires capacity expansion and a new R&D center.

Major capex planned for cables and wires capacity expansion, with phase two coming online during the year.

Industry likely to take 5-10% price increases in Q4 to offset cost pressures from BE rating, copper, and INR depreciation.

Old BE norm inventory in RAC and fans expected to clear by March, with new norms kicking in for summer season.

Investment in a new R&D center to drive innovation and premium product launches.

Management expects operating leverage to improve, with revenue growth exceeding expense growth, except for A&P spend.