Havells India adex up 20.6% (YoY) to Rs 132.09 crore in Q4 of FY2024

Delhi: Havells India, a consumer electrical goods maker, announced a 20.6% increase in advertising expenditure for Q4 FY24, totalling Rs 132.09 crore compared to Rs 109.52 crore in the same quarter of the previous year.

However, on a quarterly basis, its advertising expenditure decreased by 25.09% in the March quarter. Its adex stood at Rs 176.34 crore in Q3 FY24.

Altogether, the company’s advertising and sales promotion expenses rose by 20.56% to Rs 527.36 crore in FY24, versus Rs 437.40 crore in FY23. 

Havells India reported an increase of 24.76% in its consolidated net profit to Rs 446.70 crore for the March 2024 quarter.

The company had posted a consolidated net profit of Rs 358.04 crore in the January-March quarter a year ago, according to a regulatory filing.

Its revenue from operations grew 12% to Rs 5,442.02 crore during the period under review. It was Rs 4,859.21 crore in the corresponding quarter last fiscal.

Havells India's total expenses climbed 11.3% to Rs 4,918.05 crore in the March quarter.

During the quarter, Havells' margin expanded by 20.6%.

The company "achieved margin expansion through operational efficiencies while sustaining investments in long-term capabilities," Chairman and Managing Director Anil Rai Gupta said.

Total income in the March quarter, which includes other incomes, increased 12.47% to Rs 5,517.77 crore.

This was helped by factors, including a positive start for summer products, and early signs of benefits from the real estate uptick, Havells India said in its earnings statement.

Moreover, "continued industrial and infrastructure-led demand driving B2B revenue," it said.

Havells' revenue from the switchgear segment during the quarter rose 8% to Rs 651.28 crore.

Revenue from the cables segment grew 14% to Rs 1,789.55 crore as against Rs 1,568.15 crore in the fourth quarter of FY23.

During the period under review, Havells' revenue from lighting and fixtures was 5% higher at Rs 435.30 crore.

Electrical consumer durables (ECD) increased 21% to Rs 910.37 crore in the fourth quarter of FY24.

Revenue from Lloyd Consumer, a company which Havells had acquired in 2017, was Rs 1,345.88 crore.

Its revenue from 'other segment' swelled 22% to Rs 309.64 crore in the March quarter.

For the financial year ended on March 31, 2024, Havells India's net profit rose 18.57% to Rs 1,270.76 crore. The same stood at Rs 1,071.73 crore a year ago.

Total income in FY24 was Rs 18,838.97 crore, up 10.24% as against Rs 17,088.44 crore in FY23.