Havells India Limited announced its audited financial results for Q4FY26 and the full year ended March 31, 2026, following a board meeting held on April 22, 2026. The company delivered strong annual performance with significant growth in profitability, while quarterly results were supported by fair value gains on strategic investments. The board approved multiple director appointments and re-appointments, along with a final dividend recommendation.

Q4FY26 Financial Performance

The company reported robust quarterly results with net revenue of ₹6,688 crore, representing a 2.4% year-on-year growth from ₹6,532 crore in Q4FY25. Net profit surged 40.6% to ₹734 crore compared to ₹522 crore in the corresponding quarter last year. The strong profit growth was significantly aided by a fair value gain of ₹283 crore on the company's investment in Goldi Solar Private Limited.

EBITDA for the quarter stood at ₹728 crore with a margin of 10.9%, compared to ₹761 crore and 11.6% margin in Q4FY25. The company recognized ₹283 crore as fair value gain on its ₹600 crore investment in Goldi Solar made during Q1FY26.

Annual FY26 Performance

For the full year FY26, standalone net profit reached ₹1,705.42 crore, representing a 14.5% increase from ₹1,488.84 crore in FY25. Revenue from operations grew 3.3% to ₹22,465.56 crore from ₹21,745.81 crore in the previous year. Basic earnings per share increased to ₹27.19 from ₹23.75 in FY25.

Board Meeting Outcomes and Corporate Governance

The Board of Directors recommended a final dividend of ₹6 per equity share, representing a 600% payout. Combined with the interim dividend of ₹4 per share declared during FY26, the total dividend amounts to ₹10 per share for the year, subject to shareholder approval. The board meeting commenced at 12:00 p.m. and concluded at 2:20 p.m.

The board approved several key directorship changes. Varun Berry was appointed as Additional Director (Independent) with effect from April 22, 2026, for a first term of five years. Berry brings 40 years of experience, having previously served as Vice Chairman & Managing Director & CEO of Britannia Industries Limited until November 2025.

Director Re-appointments and Resignation

The board recommended re-appointment of several directors subject to shareholder approval at the upcoming AGM. Smt Namrata Kaul and Shri Ashish Bharatram were recommended for re-appointment as Independent Directors for a second term of five years. Shri Puneet Bhatia and Shri T V Mohandas Pai were recommended for re-appointment as Non-Independent Directors liable to retire by rotation for another term of five years.

The board also approved the re-appointment of M/s Price Waterhouse & Co Chartered Accountants LLP as statutory auditors for a second consecutive term of five years.

Vivek Mehra stepped down from the Board of Directors with effect from April 22, 2026. The board placed on record their appreciation for his contributions during his tenure as Independent Director. Consequent to his resignation, Mehra also ceases to be the Chairman and Member of the CSR & ESG Committee.

Segment-wise Performance

Cables remained the largest revenue contributor at ₹8,677 crore for FY26, growing 20.8% year-on-year. The segment showed strong performance in Q4FY26 with revenues of ₹2,474 crore, up 14.0% from the previous year. Lloyd Consumer segment faced challenges with FY26 revenues declining 22.9% to ₹3,948 crore, while Q4FY26 revenues were ₹1,514 crore, down 19.0% year-on-year.

Balance Sheet and Cash Flow Position

The company's balance sheet as of March 31, 2026, shows total assets of ₹14,724 crore, up from ₹13,775 crore in the previous year. Total equity increased to ₹9,476 crore from ₹8,331 crore. Investments stood at ₹956 crore, including the ₹600 crore stake in Goldi Solar and ₹283 crore fair valuation gain. Cash and cash equivalents stood at ₹2,351 crore at the end of FY26.

Net cash flow from operating activities for FY26 was ₹1,557 crore, while investing activities saw an outflow of ₹1,868 crore, primarily due to capex of ₹1,484 crore and investments of ₹610 crore. Financing activities resulted in an outflow of ₹690 crore, including dividend payments of ₹627 crore.

Havells India has announced the appointment of Varun Berry as Additional Director in the Independent category, adding seasoned corporate leadership to its board of directors.

Board Appointment Details

The electrical equipment manufacturer has brought Berry on board as an independent director, leveraging his extensive experience in corporate leadership and strategic management.

Leadership Experience

Berry brings valuable corporate governance and strategic leadership experience to Havells' board. His background as CEO of Britannia Industries demonstrates his capability in managing large-scale consumer-focused businesses and driving organizational growth.

Strategic Significance

The appointment of an experienced independent director like Berry aligns with corporate governance best practices and strengthens the board's oversight capabilities. Independent directors play a crucial role in providing objective guidance and ensuring transparent decision-making processes.

This board enhancement reflects Havells' commitment to maintaining strong governance standards while benefiting from Berry's proven track record in executive leadership and business strategy.