Havells India Limited , a prominent player in the electrical equipment sector, has announced a significant addition to its leadership team. The company has appointed Pankaj Mohan Arora as Executive President - Finance, effective October 27, 2025. This strategic move aims to strengthen Havells' financial leadership and governance structure.

A Wealth of Experience

Mr. Arora brings a rich and diverse background in finance, consulting, and leadership to his new role at Havells. His career trajectory spans several prestigious organizations and encompasses a wide range of expertise. Here's a snapshot of his professional journey:

Educational Background

Mr. Arora's strong academic foundation complements his professional experience:

• Bachelor of Commerce with Honours from Shri Ram College of Commerce (1996)
• Chartered Accountant (1999)
  • Achieved All India ranks in both intermediate and final examinations

Implications for Havells India

The appointment of Pankaj Mohan Arora as Executive President - Finance signals Havells India's commitment to strengthening its financial leadership. His extensive experience in governance, risk management, and compliance, coupled with his background in consumer sector practices, aligns well with Havells' position as a leading consumer electrical equipment manufacturer.

Mr. Arora's expertise in board leadership and corporate governance, gained from his tenure at KPMG and Russell Reynolds Associates, may prove valuable in enhancing Havells' corporate structure and strategic decision-making processes.

As Havells India continues to navigate the dynamic electrical equipment market, Mr. Arora's diverse experience across consulting and financial advisory roles could contribute to the company's financial strategy and risk management practices.

This appointment comes at a time when companies are increasingly focusing on robust financial management and governance. Mr. Arora's role will likely be crucial in steering Havells' financial strategies and ensuring compliance with evolving regulatory standards in the corporate landscape.

Havells India , a leading electrical equipment manufacturer, delivered a mixed performance in the second quarter of fiscal year 2026, facing headwinds in its summer product segment while maintaining growth in other areas.

Key Highlights

• Overall performance deemed 'decent' despite challenges in summer products
• Cables business maintained steady growth momentum
• LED lighting showed signs of stabilization and initial pickup in residential demand
• Higher working capital levels impacted cash balances and interest income
• Management optimistic about second half performance following GST rate reductions

Summer Product Segment Faces Headwinds

The company experienced weakness in its summer product category, with air conditioners, fans, and coolers seeing a year-on-year revenue decline. This was attributed to a shorter summer season and elevated channel inventories. Havells has been working closely with its channel partners to increase consumer offtake and expects channel inventories to normalize by the end of Q3.

Cables Business Continues Strong Performance

The cables segment maintained its steady growth momentum, driven primarily by strong performance in power cables. In line with its expansion strategy, Havells acquired a 39-acre land parcel adjacent to its existing manufacturing facility in Alwar, Rajasthan, to support capacity expansion in this segment.

Lighting and Consumer Durables

The LED lighting segment showed signs of price stabilization and an initial pickup in residential demand, which bodes well for the business going forward. In the Lloyd segment, which includes consumer durables, the company faced significant decline in contribution margins due to customer support schemes offered to clear channel inventories. These schemes have since been withdrawn following GST changes.

Financial Impact and Outlook

Higher working capital levels, especially in the cables and Lloyd segments, led to a reduction in cash and bank balances, impacting the interest income earned during the quarter. While the company expects working capital to normalize by Q4, other income is likely to remain relatively low in H2, considering the planned capital expenditure.

Management Commentary

Anil Rai Gupta, Chairman and Managing Director of Havells India, stated, "We have delivered a decent overall performance. However, the summer products experienced weakness with overhang of shorter summer and higher channel inventories. We are confident that the channel inventories will normalize by the end of Q3."

Future Outlook

The management remains optimistic about the company's performance in the second half of the fiscal year, buoyed by recent GST rate reductions on air conditioners, TVs, and solar products. Havells has outlined a capital expenditure plan of INR 1,450.00 crores for FY26 and an estimated INR 1,000.00 crores for FY27, with a focus on its premiumization strategy across product categories.

Financial Data

As Havells India navigates through these challenges and opportunities, investors and market watchers will be keenly observing the company's ability to normalize inventories, capitalize on the festive season demand, and leverage its expansion plans to drive growth in the coming quarters.