Havells Q4 FY26 Results: PAT ₹723 Crore (+40% YoY), Revenue ₹6,705 Crore, Dividend ₹6/Share

Wed Apr 22 2026

Havells Q4 FY26 results are out, with the electrical equipment and FMEG major delivering a profit beat that exceeded street expectations. Havells Q4 consolidated profit after tax jumped 40% year-on-year to ₹723 crore compared to ₹518 crore in Q4 FY25. The sharp Havells Q4 PAT growth reflects improved margins, a favourable product mix, and operating leverage from the company’s expanding distribution network.

Havells Q4 revenue from operations stood at ₹6,705 crore, up 2.5% year-on-year from ₹6,544 crore in Q4 FY25. While Havells Q4 revenue growth was modest — reflecting seasonal demand patterns in the FMEG and electrical category — the disproportionate profit expansion of 40% indicates significant margin improvement versus Q4 FY25. Havells Q4 demonstrates that cost discipline and premiumisation are paying off.

Havells Q4 board declared a final dividend of ₹6 per equity share for FY26, in addition to the interim dividend of ₹4 per share already paid during FY26, taking the total FY26 dividend to ₹10 per share. The Havells Q4 results build on the company’s track record of consistent dividend growth and shareholder returns.

Table of Contents

Havells Q4 FY26 Results Date and Dividend

Get real-time stock research and expert analysis on Univest.

Havells Q4 FY26 results were declared on Wednesday, April 22, 2026. The board of directors met on the same date to approve audited consolidated financial results for Q4 and the full year ended March 31, 2026, and to recommend the final dividend. Havells Q4 results were released during market hours, with detailed segment-wise data shared via stock exchange filings.

Company	Q4 Results Date	Status
TCS	April 9, 2026	Declared
HCL Technologies	April 21, 2026	Declared
Havells India	April 22, 2026	Declared
Infosys	April 23, 2026	Expected

TCS Q4 FY26 results were declared on April 9, 2026. Full details are available at Univest Blogs — TCS Q4 FY26 Results Preview.

Why Havells Q4 FY26 Results Matter

Havells Q4 is a critical quarter for investors tracking India’s electrical equipment and fast-moving electrical goods (FMEG) sector. Havells Q4 profit expansion of 40% YoY on just 2.5% revenue growth is particularly striking — it indicates that input cost tailwinds (especially copper and aluminium moderation) and a premium product mix have together driven significant margin expansion versus Q4 FY25.

Havells Q4 also provides a barometer for consumer sentiment in the building materials and home appliance categories, since the company’s products are closely tied to housing completions, new home purchases, and renovation activity. A strong Havells Q4 despite muted revenue growth suggests underlying demand resilience and pricing power in the premium FMEG segment.

Havells Q4 FY26 — Actual Financial Results

Havells Q4 FY26 actual results significantly outperformed expectations on the profit line. The 40% YoY PAT growth in Havells Q4 was well above the typical single-digit to low double-digit growth rates the company has delivered historically in Q4. Havells Q4 revenue of ₹6,705 crore, while only modestly above last year, is consistent with the broader sector pattern of moderate volume growth with improving realisations.

Access premium research and analyst data on Univest.

Metric	Q4 FY25 (Base)	Q4 FY26 Actual	YoY Change	Key Note
Revenue (₹ Cr)	6,544	6,705	+2.5%	Modest volume growth
PAT (₹ Cr)	518	723	+40%	Margin expansion
Final Dividend (₹)	5	6	+20%	Total FY26: ₹10
Interim Dividend (₹)	—	4	—	Paid during FY26
Total FY26 Div (₹)	—	10	—	FY25 total: ₹5

Beyond Havells Q4 headline numbers, investors will look at segment-wise performance — cables and wires, switchgear, lighting, and Lloyd consumer durables. Havells Q4 Lloyd appliance segment (air conditioners, washing machines, refrigerators) is seasonally significant as the March quarter captures pre-summer demand. Management commentary on demand outlook for Q1 FY27 (the peak summer AC season) will be critical.

Screen HAVELLS fundamentals and historical financials on the Univest Screener.

5 Key Factors That Will Drive Havells Q4 FY26 Performance

Margin Expansion from Input Cost Tailwinds

Havells Q4 PAT grew 40% on just 2.5% revenue growth — the gap signals a substantial margin improvement. Havells Q4 benefited from moderation in copper and aluminium prices, which are key inputs for cables, wires, and switchgear. The company’s ability to pass on price increases faster than input cost recovery has created a favourable earnings dynamic in Havells Q4.

Premium FMEG Mix Driving Better Realisations

Havells Q4 product mix has been trending upward towards premium categories — higher-wattage LED lighting, premium switchgear, and energy-efficient motors. This premiumisation trend in Havells Q4 boosts average selling prices without proportional volume increases, explaining the revenue-profit gap. Investors see Havells Q4 margin improvement as structural rather than cyclical.

Lloyd Summer Pre-Loading Demand

Havells Q4 is seasonally important for Lloyd — the consumer durables brand covering air conditioners, washing machines, and refrigerators. Trade channel partners typically stock up in Q4 ahead of the April–June peak summer season. Havells Q4 Lloyd performance will be a key determinant of whether the broader business can sustain its profit trajectory into Q1 FY27.

Housing Construction Tailwind

Havells Q4 benefits from India’s robust housing completions pipeline, with residential construction activity at multi-year highs in key markets like NCR, MMR, Pune, and Bengaluru. Havells Q4 cables and wires — a significant revenue contributor — are directly tied to housing construction timelines. As housing inventory gets absorbed and construction activity continues, Havells Q4 revenue expansion should accelerate.

Distribution Network Expansion

Havells Q4 reflects the company’s ongoing investment in its dealer and distributor network across Tier-2 and Tier-3 markets. Havells Q4 distribution reach has expanded significantly over the past three years, providing operating leverage. As newer markets mature, Havells Q4 volumes from these markets should generate incremental revenue with better margins given the sunk distribution costs.

5 Risks to Watch in Havells Q4 FY26

Revenue Growth Deceleration Risk

Havells Q4 revenue growth of 2.5% is notably slower than the company’s medium-term ambitions. If housing completions slow or consumer discretionary spending pulls back in FY27, Havells Q4’s muted revenue trend could persist. A combination of slower volumes and no further input cost tailwinds could compress the exceptional 40% PAT growth seen in Havells Q4.

Lloyd Competitive Pressure

Havells Q4 Lloyd faces intensifying competition in the air conditioning market from Korean brands (LG, Samsung), Chinese-origin players (Daikin, Blue Star’s premium range), and Voltas. Maintaining Lloyd’s market share while protecting margins is a perennial challenge that Havells Q4 management must navigate carefully in Q1 FY27.

Commodity Price Reversal

Havells Q4 benefited from lower copper and aluminium costs. If commodity prices reverse sharply in FY27 — driven by global manufacturing recovery or supply disruptions — the input cost tailwind that supported Havells Q4 margin expansion could become a headwind. The company’s hedging strategy for commodity inputs will be closely watched.

Geopolitical Uncertainty Dampening Discretionary Demand

Havells Q4 results arrive against a backdrop of global geopolitical uncertainty — the Iran-US tensions and associated market volatility could dampen consumer confidence. If buyers defer large household purchases (ACs, washing machines) during uncertainty periods, Havells Q4 positive demand indicators may not carry over smoothly into Q1 FY27.

Valuation Premium vs Peers

Havells Q4 results confirmed strong earnings, but the stock trades at a significant premium to electrical peers like Legrand, Polycab, and KEI Industries. Sustaining a 40% PAT growth trajectory is difficult — any normalisation in Q1 FY27 could lead to a PE de-rating. Investors must weigh Havells Q4 exceptional results against a high valuation base.

Conclusion

Havells Q4 FY26 results are an impressive beat — 40% PAT growth on 2.5% revenue growth demonstrates that margin improvement is the real story. Havells Q4 final dividend of ₹6/share taking total FY26 payout to ₹10 reflects strong free cash flow generation. The key watchpoint for FY27 is whether volume growth accelerates to support the premium valuation, and whether Lloyd captures its share of the summer AC boom.

Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only and does not constitute investment advice. All financial data is sourced from publicly available NSE/BSE filings and exchange announcements. Verify all numbers before investing. Consult a SEBI-registered advisor before making investment decisions.

For more Q4 FY26 results analysis, visit Univest Blogs.

Frequently Asked Questions

What was Havells Q4 FY26 net profit?

Havells Q4 FY26 consolidated PAT was ₹723 crore, up 40% year-on-year from ₹518 crore in Q4 FY25. This was significantly above analyst expectations.

What was Havells Q4 FY26 revenue?

Havells Q4 FY26 consolidated revenue from operations was ₹6,705 crore, up 2.5% year-on-year from ₹6,544 crore in Q4 FY25.

What dividend did Havells declare for Q4 FY26?

Havells Q4 FY26 board declared a final dividend of ₹6 per equity share for FY26. Combined with the interim dividend of ₹4 already paid, total FY26 dividend payout is ₹10 per share.

Why did Havells Q4 FY26 PAT grow 40% despite slow revenue?

Havells Q4 FY26 PAT grew 40% due to significant margin expansion, driven by moderation in key commodity costs (copper, aluminium), a premium product mix, and operating leverage from the company’s expanded distribution network.

What is the Havells Q4 FY26 dividend record date?

Havells has not yet announced the record date for the FY26 final dividend. Investors should track exchange filings for the record date announcement following shareholder approval at the AGM.

What were Havells India Q3 FY26 results?

Havells Q3 FY26 results showed revenue and PAT growth consistent with the company’s trend. Specific Q3 figures can be checked on the Univest Screener for a detailed year-on-year and quarter-on-quarter comparison.

When did TCS and Infosys declare Q4 FY26 results?

TCS Q4 FY26 results were declared on April 9, 2026. Infosys Q4 FY26 results are expected on April 23, 2026. Visit Univest Blogs for TCS Q4 analysis and the Infosys Q4 preview. Read the TCS Q4 analysis at Univest Blogs and the Infosys Q4 preview at Univest Blogs.

Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only and does not constitute investment advice. All financial data is sourced from publicly available NSE/BSE filings, exchange announcements, and company investor relations pages. Verify all numbers before investing. Consult a SEBI-registered advisor before making investment decisions.