Havells India enters new line of business, shares flat

Havells India shares were trading in the red on Thursday after the firm said it is entering a new line of business of Electric Vehicle Supply Equipment (EVSE).  Havells India stock slipped 0.46% to Rs 1569.05. Market cap of the firm stood at Rs 98,505 crore. 

"The company is targeting entry into EVSE with the launch of EV Chargers. This will be part of the existing switchgear business and will enhance our product proposition in the renewable energy ecosystem. EV charger market is estimated to be approximately Rs. 1500 cr. The business is expected to be operational by the end of Q3 FY 2026," said Havells.   

The total amount to be invested in the business is in the range of Rs 7-10 crore.

Havells India's consolidated net profit for the fourth quarter of the 2024-25 financial year (Q4 FY25) reached Rs 517.83 crore, marking a significant increase of 15.92% compared to the Rs 446.70 crore recorded during the same period last year. 

The company reported impressive consumer electronics revenue from operations amounting to Rs 6,543.56 crore for the quarter, which is up 20.24% year-on-year, up from Rs 5,442.02 crore in Q4 FY24.

In terms of revenue breakdown, Havells generated Rs 691.83 crore from its switchgear segment, up from Rs 651.28 crore last year. Revenue from cables reached Rs 2,169.37 crore, a rise from Rs 1,789.55 crore in the previous year’s fourth quarter. The lighting and fixtures segment contributed Rs 441.72 crore, slightly increasing from Rs 435.30 crore, while the electrical consumer durables segment brought in Rs 997.26 crore, up from Rs 910.37 crore.

Additionally, Havells’ board of directors has recommended a final dividend of Rs 6 per equity share of ?1 each, equating to 600% for the 2024-25 financial year. This recommendation comes on top of an interim dividend declared during FY25 of Rs 4 per share.

“The Final Dividend, if approved by the shareholders in the forthcoming Annual General Meeting (AGM) of the Company, shall be paid/ dispatched to the shareholders on or before 30 days from the date of the AGM,” Havells said.

Havells India is engaged in consumer electrical/electronics and power distribution equipment manufacturer with products ranging from industrial and domestic circuit protection switchgears, cables, motors, pumps, solar products, fans, power capacitors, LED lamps and luminaries for domestic, etc.