Institute of Management

Nirma University
Havells Ltd Annual Report Analysis
Financial Accounting and Reporting
Group Assignment - 2
Group no :- E4
Master of Business Administration
ASSIGNMENT

Submitted by:
SECTION – E

Name Roll no.

Nikhil Kochrekar 221528
Sagar Mirchandani 221540
Abhishek Waghchaware 221504
Jaishree Bansal 221516
Swastik Punyani 221552

Submitted to:
Prof. Harsh Pratap Singh

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Table of Contents

Sr.no Index Pg
no.
1. List two assets having the highest proportion of the total assets of the company 3
2. What is the proportion of Intangible assets in the total assets of the company? 3
3. What is the percentage of depreciation/amortization expense in relation to the gross block 4
value of the fixed assets and total expenses?
4. What is the depreciation method and accounting estimates involved in charging depreciation 4
in fixed assets?
5. What is the proportion of non-current investments in the total assets? 5
6. What is the proportion of the trade receivables in relation to the revenue of the company? 6
7. What is the proportion of current liabilities to current assets? 6
8. What are the company’s contingent liabilities? List any 2? 7
9. What is the turnover of the company for the current year and the previous year? How much 7
is the change in turnover compared to the last year?
10. What is the profit before tax (PBT) for the current year and the previous year? Compute the 9
change in PBT compared to the previous year.
11. What is the profit after tax (PAT) for the current year and the previous year? Compute the 11
change in PAT compared to Profit after tax to the previous year.
12. How much dividend company has distributed during the current year? How much dividend 12
company had distributed in the previous year? Compute the change compared in dividend
13. What are to
compared thethe
company’s major items of revenues? How these items have changed in
previous year? 15
percentage terms as compared to the previous financial year?
14. What was the total amount spent on employees? What is the percentage to total revenue? 16

15. What is the absolute amount and proportion of finance costs (Interest) to the total revenues? 16
16. What is cash flow from operating activities, Investing activities and Financing activities? 17
What is the proportion of change in working capital to the total cash from operating activity?
17. What is the pattern of cash flow as regards to 3 different activities? Explain. 17
18. Comment on cash flow statement with respect to cash flow from operating, investing and 18
financing activities from the current and previous year

19. Comment about the company based on all financial statements and other key financial 19
information available from the report.
20. Briefly state the significant information available in public domain (such as newspapers, 21
magazines etc.) about the company since April 1, 2020 till date, if any. The information
must be supported by reference of a newspaper or a magazine or any other source
21. References 23

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1. List two assets having the highest proportion of the total assets of the company.

2 Highest Assets Amount (in ₹ Crores) % Of Total Assets

Inventories ₹ 2968.08 28.20 %
Property, plant, and ₹ 2021.45 19.21 %
equipment
Total ₹ 4989.53 47.41 %

It has been observed that the above-listed non-current and current assets form the major
proportion of the total asset values. Now in the fiscal year 2021-2022, the inventory assets
hold a value of 2968.08 crores. While the fixed assets such as property, land, and equipment
contributed 2021.45 crores. This signifies that the company has strong backing to support their
future debts if any. Inventories formed 28.205% of the total assets (Inventory / total assets),
while property formed 19.21% of the total assets. (Property / Total asset value).

2. What is the proportion of Intangible assets in the total assets of the company?

Intangible Assets Amount (in ₹ Crores)

Intangible assets under development ₹ 0.46 Cr
Goodwill ₹ 310.47 Cr
Other Intangible assets ₹ 1101.69 Cr
Contract Assets ₹ 65.38 Cr
Total Intangible assets ₹ 1478 Cr

Here, we have taken the summation of Intangible assets under development, Goodwill, other
intangible assets, contract assets. This cumulative value turns out to be 14.04% of the total
assets.
(Total Intangible Assets / Total assets).

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3. What is the percentage of depreciation/amortization expense in relation to the gross
block value of the fixed assets and total expenses?

Particulars Amount
Depreciation and Amortization Expenses ₹ 260.89 Cr
Total fixed assets ₹ 3916.65 Cr
Total expenses ₹ 12492.36 Cr
Depreciation and amortization as a % of total 1.58%
expenses and total fixed assets
Depreciation and Amortization Expenses ₹ 260.89 Cr

It is observed that the depreciation as % of total expenses and total fixed assets is less
(Depreciation and Amortization/ Total fixed assets + Total expense) i.e 1.58% which is still
bearable by the company. Further, if the depreciation increases, it would not be an easy task
for the company as the expenses incurred are very high.

4. What is the depreciation method and accounting estimates involved in charging

depreciation in fixed assets?

Changes in the expected useful life or the expected pattern of consumption of future economic
benefits embodied in the asset are accounted for by changing the amortization period or
method, as appropriate, and are treated as changes in accounting estimates

Depreciation on property, plant and equipment is calculated on a pro-rata basis on a straight-

line method using the useful lives of the assets estimated by management. The useful life is as
follows:

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 Havells Annual Report, 2022

Here useful life of a particular asset symbolizes the capacity to use it efficiently up to a
designated time duration. After that, there is not the value of that asset and from that point it
cannot be depreciated any further.

5. What is the proportion of non-current investments in the total assets?

• Non-Current Assets for FY 2021-2022 were ₹ 3917.93 Cr

• Total Assets for the FY 2021-2022 were ₹ 10505.16 Cr
• From the following formula and the calculation, we can derive the proportion of non-
current investments in the total assets.

𝑁𝑜𝑛 𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝐼𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡𝑠

= × 100
𝑇𝑜𝑡𝑎𝑙 𝐴𝑠𝑠𝑒𝑡𝑠

3917.93
= × 100
10505.16

= 𝟑𝟕. 𝟐𝟗 %

• From the above calculation we can determine that the proportion of non-current
investments in the total assets is 37.29%.

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6. What is the proportion of the trade receivables in relation to the revenue of the
company?

• Trade Receivables for FY 2021-2022 were ₹ 764.83 Cr

• Total Revenue for FY 2021-2022 was ₹ 13,888.53 Cr
• From the following formula and the calculation, we can derive the proportion of trade
receivables in relation to the revenue of the company.

𝑇𝑟𝑎𝑑𝑒 𝑟𝑒𝑐𝑒𝑖𝑣𝑎𝑏𝑙𝑒𝑠
= × 100
𝑇𝑜𝑡𝑎𝑙 𝑅𝑒𝑣𝑒𝑛𝑢𝑒

764.83
= × 100
13,888.53

= 𝟓. 𝟓𝟎 %

• From the above calculation we can determine that the proportion of trade receivables
in relation to the revenue of the company is 5.50%.

7. What is the proportion of current liabilities to current assets?

• Current Liabilities for FY 2021-2022 were ₹ 887.21 Cr

• Current Assets for FY 2021-2022 were ₹ 6,586.50 Cr
• From the following formula and the calculation, we can derive the proportion of trade
receivables in relation to the revenue of the company.

𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝐿𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠
= × 100
𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝐴𝑠𝑠𝑒𝑡𝑠

3,629.31
= × 100
6,586.50

= 𝟓𝟓. 𝟏𝟎 %

• From the above calculation we can determine that the proportion of trade receivables
in relation to the revenue of the company is 13.47 %.

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8. What are the company’s contingent liabilities? List any 2?

A contingent liability is a potential liability that may occur in the future, such as pending
lawsuits or honoring product warranties. If the liability is likely to occur and the amount can
be reasonably estimated, the liability should be recorded in the accounting records of a firm.

In this case, contingent liabilities are:

• Claims / Suits filed against the Group not acknowledged as debts ₹ 7.07 crores
• Disputed tax liabilities in respect of pending litigations before appellate authorities ₹
74.88 Cr

9. What is the turnover of the company for the current year and the previous year?
How much is the change in turnover compared to the previous year?

The turnover of Havells has been steadily growing at the rate of roughly 14.06% on
average over the last 5 years. Havells’ turnover for the Financial Year 2020-2021 was ₹
10427 Cr. Later in Financial Year 2021-2022, their turnover increased by 33.27% to ₹
13888 Cr compared to the previous F.Y 2020-2021. In absolute values, the difference
between F.Y 2020-2021 turnover and F.Y 2021-2022 turnover was ₹ 3461 Cr.
But for the year 2020 because of Covid, the turnover for 2019-20 took a huge hit. In
comparison to the year F.Y 2018-19 the turnover in F.Y 2019-20 decreased by 7.39% and
₹ 647.64 Cr in absolute value. With 33.06% increase in turnover the previous year F.Y
2021-2022 seems to have been able to compensate for the decline in revenue.

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 Turnover of Last 2 Years (in ₹ Crores)
13888 Cr
+ 33.27 %
10427 Cr
14000
+ 3461 Cr
12000
10000
8000
6000
4000
2000
0
2021 2022

2021 2022

Source – Havells Annual Report 2022

Turnover of Last 5 Years (in ₹ Crores)

2022 13888.53 Cr

+ 33.27 %
2021 10427 Cr
+ 9.80 %

2020 9495.87 Cr - 7.39 %

2019 10143.51 Cr

+ 22.70 %
2018 8267.19 Cr

0 2000 4000 6000 8000 10000 12000 14000

2018 2019 2020 2021 2022
Turnover 8267 10143 9495 10503 13975

Source – Prowessiq Database

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10. What is the profit before tax (PBT) for the current year and the previous year?
Compute the change in PBT compared to the previous year?

PBT of Last 2 Years (in ₹ Crores)

1603.79 Cr
+ 12.03 %
1431.58
15000 + 172.21 Cr

10000

5000

0
2021 2022

2021 2022

Source – Prowessiq Database

The Profit Before Tax (PBT) of Havells has been steadily growing at the rate of roughly
12% on average over the last 5 years. Havells’ PBT for the Financial Year 2020-2021 was
₹ 1431.58 Cr. Later in Financial Year 2021-2022 their PBT increased by 12.03% to
₹1603.79 Cr compared to the previous F.Y 2020-2021 PBT. This increase in PBT was
very closer to the average increase in PBT over the last 5 years. In absolute values the
difference between F.Y 2020-2021 PBT and F.Y 2021-2022 PBT was ₹ 3472.56 Cr. But
for the year 2020. However, due to Covid, turnover decreased in 2020, and thus PBT
decreased as well. In comparison to F.Y 2018-19, F.Y 2019-20 PBT took a huge hit and
decreased by 21.94% in percentage terms and ₹ 253.53 Cr in absolute value. With 58.76%
increase in turnover to the F.Y 2019-20, F.Y 2020-2021 seems to have been able to
compensate for the decline in PBT during the year 2019-20.

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 PBT of Last 5 Years (in ₹ Crores)

2022 1603.79 Cr

+ 12.03 %
2021 1431.58 Cr

+ 58.76 %
2020 901.73 Cr - 21.94 %

2019 1,155.26 Cr

+ 13.85 %
1,014.70 Cr
2018

0 500 1,000 1,500 2,000

2018 2019 2020 2021 2022
PBT 1,014 1,155 901 1,431 1,603

Source – Prowessiq Database

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11. What is the profit after tax (PAT) for the current year and the previous year?
Compute the change in PAT compared to the Profit After Tax (PAT) to the previous
year?

PAT of Last 2 Years (in ₹ Crores)

1194.73 Cr

1200

1150 + 14.91 %

1100 1039.68 Cr + 155.05 Cr

1050

1000

950
2021 2022

2021 2022

Source – Prowessiq Database

The Profit After Tax (PAT) of Havells has been steadily growing at the rate of roughly
13.8% on average over the last 5 years. Havells’ PAT for the Financial Year 2020-2021
was ₹ 1039.68 Cr. Later in Financial Year 2021-2022 their PAT increased by 14.91% to
₹1194.73 Cr compared to the previous F.Y 2020-2021 PAT. This increase in PAT was
close to the average increase in PAT over the last 5 years. In absolute values the difference
between F.Y 2020-2021 PAT and F.Y 2021-2022 PAT was ₹ 155.05 Cr. But for the year
2019-2020 because of Covid the PAT decreased. F.Y. 2019–20 PAT declined by 6.9% in
percentage terms and by ₹ 54.31 Cr in absolute value when compared to F.Y. 2018–19.
F.Y. 2020-2021 appears to have been able to make up for the drop in PAT during the year
2019–20 with a 41.83% rise in PAT compared to F.Y. 2019–20.

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 PAT of Last 5 Years (in ₹ Crores)

2022 1194.73 Cr

+ 14.91 %
2021 1039.68 Cr

+ 41.83 %
2020 733.03 Cr - 6.9 %

2019 787.34 Cr

+ 10.50 %
2018 712.52 Cr

0 200 400 600 800 1,000 1,200

2018 2019 2020 2021 2022
PAT 712 787 733 1,039 1,194

Source – Prowessiq Database

12. How much dividend company has distributed during the current year? How much
dividend had distributed in the previous year? Compute the change in dividend
compared to the previous year?

• Dividend Paid in year 2021 was ₹ 1878 Cr which amounted to 17.88% of the
turnover and ₹ 4071 Cr in 2022 which amounted to 29.13% of the turnover. It was
a huge increase of 116.77% when compared to the dividends paid in 2021. In
absolute values the difference between dividends paid in 2021 and 2022 was
₹ 2193 Cr.
• On 4th May 2022 Havells announced interim dividend of ₹ 4.5 per share which
was paid on 14th June 2022. At the current share price of ₹ 1323.65, this results in
a dividend yield of 0.57%.
• On 10th October 2021 Havells announced interim dividend of ₹ 3.0 per share
which was paid on 27th October 2021.

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• On 11th Jan 2021 Havells announced Final dividend of ₹ 3.5 per share which was
paid on 14th June.
• On 11th Jan 2021 Havells announced interim dividend of ₹ 3.0 per share which was
paid on 28th Jan 2021.

Dividend Paid (in Crores)

4071 Cr

4500 + 116.77 %
4000
3500
3000 1878 Cr
2500 + 2193 Cr
2000
1500
1000
500
0
2021 2022

Source – Prowessiq Database

Announcement Ex-Date Dividend (%) Dividend (Rs)

Date
Final 04-05-2022 14-06-2022 450% ₹ 4.5
Interim 11-10-2021 27-10-2021 300% ₹ 3.0
Final 20-05-2021 17-06-2021 350% ₹ 3.5
Interim 11-01-2021 28-01-2021 300% ₹ 3.0

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 Dividends Paid Per Share

6
₹ 3.5 ₹ 4.0
4

2 ₹ 3.0 ₹ 3.0

0
2021 2022

Interim Final

Dividends Paid

2022

2021

2020

2019

2018

0 1 2 3 4 5 6 7

2018 2019 2020 2021 2022

Interim 0 0 4 3 3
Final 4.5 4 0 3.5 4

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13. What are the company’s major items of revenue? How have these items changed
in percentage terms as compared to the previous financial year?

• Cables and Wires account for most of the revenue of Havells. In FY 2021-2022 Cables
and Wires Accounted for ₹ 4645.08 Cr of the revenue while in FY 2020-2021 the
revenue from cable and wires accounted for ₹ 3180.17 Cr. In percentage terms for FY
2021-2022 we saw an increase of 46.06% over the previous year.

• Second most sold item category for Havells is the Electrical Consumable Durables.
In FY 2021-2022 Electrical Consumable Durables Accounted for ₹ 3066.85 Cr of the
revenue while in FY 2020-2021 the revenue from cable and wires accounted for ₹
2376.99 Cr. In percentage terms for FY 2021-2022 we saw an increase of 29.02% over
the previous year.

• In FY 2021-2022 Lighting & Fixtures Accounted for ₹ 1370.88 Cr of the revenue

while in FY 2020-2021 the revenue from cable and wires accounted for ₹ 1084.60 Cr.
In percentage terms for FY 2021-2022 we saw an increase of 26.39% over the previous
year.

• In FY 2021-2022 Lloyd Consumer Accounted for ₹ 2260.59 Cr of the revenue while

in FY 2020-2021 the revenue from cable and wires accounted for ₹ 1688.75 Cr. In
percentage terms for FY 2021-2022 we saw an increase of 33.86% over the previous
year.

• In FY 2021-2022 Switchgears Accounted for ₹ 1786.40 Cr of the revenue while in FY

2020-2021 the revenue from cable and wires accounted for ₹ 1460.88 Cr. In percentage
terms for FY 2021-2022 we saw an increase of 22.28% over the previous year.

• In FY 2021-2022 Others Category Accounted for ₹ 758.73 Cr of the revenue while in

FY 2020-2021 the revenue from cable and wires accounted for ₹ 636.53 Cr. In percentage
terms for FY 2021-2022 we saw an increase of 19.20% over the previous year.

14. What was the total amount spent on employees? What is the percentage to total
revenue?

• Total amount spent on employees by Havells ltd are ₹ 1014.64 Cr in the form of
Employee Compensation expenses.

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 • To calculate the percentage of employees’ expenses to total revenue we need to
first multiply employees’ expenses by 100 and then divide it by total revenues
earned by the company.
• This allows us to infer that the higher the ratio, the lower would the revenue left
over after charging employees expenses out of total revenue.
• With the help of the calculation given below we are able to see that employees’
expenses accounts for 7.30% of the total revenue.

𝐸𝑚𝑝𝑙𝑜𝑦𝑒𝑒𝑠 𝐸𝑥𝑝𝑒𝑛𝑠𝑒𝑠
× 100
𝑇𝑜𝑡𝑎𝑙 𝑅𝑒𝑣𝑒𝑛𝑢𝑒

1014.64
= × 100
13,888.53

= 𝟕. 𝟑𝟎 %

15. What is the absolute amount and proportion of finance costs (Interest) to the total
revenues?

The absolute amount of finance cost covering interest expenses for Havells ltd is ₹ 53.21 Cr.

Method of calculation
𝐹𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝐶𝑜𝑠𝑡𝑠
× 100
𝑇𝑜𝑡𝑎𝑙 𝑅𝑒𝑣𝑒𝑛𝑢𝑒

53.21
= × 100
13,888.53

= 𝟎. 𝟑𝟖 %

Ratio's description
This ratio is informing about the share of financial costs (expenses) in the value of revenues
from sales, thus indicating which part of revenues from sales is used for covering the
financial expenses (mainly interest).
Ratio's interpretation

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The value of this ratio depends on the debt level and the credit's interest rate. High ratio
values suggest excessive financial expenses with respect to the level of revenues from sales

16. What is cash flow from operating activities, Investing activities, and Financing
activities? What is the proportion of change in working capital to the total cash from
the operating activity?

Cashflow Statement FY 2021-2022 FY 2020-2021

Net Cashflow from Operating Activities (A) ₹ 1744.38 Cr ₹ 657.93 Cr
Net Cashflow from Financing Activities (B) ₹ (547.15) Cr ₹ 189.77 Cr
Net Cashflow used in Investing Activities (A) ₹ (759.21) Cr ₹ (762.89) Cr
Net increase / (decrease) in cash and cash ₹ 438.02 Cr ₹ 84.81 Cr
equivalents (A+B+C)

• Havells Limited cash flow statement shows that the cash generated from operating
activities before considering working capital changes is ₹ 1816.33 Cr and after
considering working capital changes the cash flow from operations stands out as ₹
2158.18 Cr. Finally, when we factor out cash flow generated from operations after
balancing income tax of ₹ 413.8 Cr, we got the figure of ₹ 1744.38 Cr.
• After considering the purchase of property received of grants related to assets
proceeds from the sale of property plant and equipment and many other factors, we
suffered cash outflow from investing activities of ₹ 759.21 Cr.
• The cash flow from financing activities shows an outflow of ₹ 547.15 Cr.
• This results in a total net cash inflow in the company of ₹ 438.02 Cr.
• The proportion of change in working capital to the total cash from operating
activities is 19.6%

𝑊𝑜𝑟𝑘𝑖𝑛𝑔 𝐶𝑎𝑝𝑖𝑡𝑎𝑙
× 100
𝐶𝑎𝑠ℎ 𝑓𝑟𝑜𝑚 𝑂𝑝𝑒𝑟𝑎𝑡𝑖𝑛𝑔 𝐴𝑐𝑡𝑖𝑣𝑖𝑡𝑦

341.85
= × 100
1744.38

= 𝟏𝟗. 𝟔 %

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17. What is the pattern of cash flow as regards to 3 different activities?

Looking at the statements of Havells we can notice a pattern that there is a consistent cash
inflow from operating activities and consistent cash outflow from investing activities but for
financing activities, we saw cash inflow last year but major cash outflow this year. This is
because ₹ 97 Cr of long-term borrowings were paid off this year as well as the total amount
of dividend paid this year was ₹ 407 Cr which is an increase of 116.8% in comparison to the
dividend paid ₹ 187 Cr in the previous financial year.

Operating profit before working capital changes for FY 2021-2022 was ₹ 1816.33 Cr which
is an 11.58% increase when compared to the inflow for FY 2020-2021 which stood at ₹
1627.85 Cr.

Cash Inflow from operating activities for FY 2021-2022 was ₹ 1744.38 Cr which is a
staggering 165% increase when compared to the inflow for FY 2020-2021 which stood at ₹
657.93 Cr.

Cash outflow from investing activities for FY 2021-2022 was ₹ 759.21 Cr whereas in FY
2020-2021 it stood at ₹ 762.89 Cr.

Cash outflow from investing activities for FY 2021-2022 was ₹ 759.21 Cr whereas in FY
2020-2021 it stood at ₹ 762.89 Cr.

In FY 2020-2021 there was a cash inflow from financing activities of ₹ 189.77 Cr but for
FY 2021-2022 we see a cash outflow of ₹ 547.15 Cr.

Overall, the Cash inflow for FY 2020-2021 was ₹ 84.81 Cr and for FY 2021-2022 it was ₹
438 Cr. We see an astounding increase of 416% in cash and cash equivalents when compared
to the previous financial year.

18. Comment on the cash flow statement with respect to cash flow from operating,
investing, and financing activities from the current and previous year?

Key aspects that affected the cash flow this year:

• Long-term borrowings were paid.

• A higher amount of dividend was paid.
• Cash generated from operating more than doubled.

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 • Exponential increase in trade payables.

Operating income during the year rose 33.3% on a year-on-year (YoY) basis.

The company's operating profit increased by 11.6% YoY during the fiscal. Operating profit
margins witnessed a fall and stood at 12.7% in FY22 as against 15.2% in FY21.

The company's current liabilities during FY22 stood at Rs 40 billion as compared to Rs 31

billion in FY21, thereby witnessing an increase of 30.3%.

Long-term debt down at Rs 3 billion as compared to Rs 4 billion during FY21, a fall of

30.8%.

Cash Inflow from operating activities for FY 2021-2022 was ₹ 1744.38 Cr which is a
staggering 165% increase when compared to the inflow for FY 2020-2021 which stood at ₹
657.93 Cr.

Cash outflow from investing activities for FY 2021-2022 was ₹ 759.21 Cr whereas in FY
2020-2021 it stood at ₹ 762.89 Cr.

Cash outflow from investing activities for FY 2021-2022 was ₹ 759.21 Cr whereas in FY
2020-2021 it stood at ₹ 762.89 Cr.

In FY 2020-2021 there was a cash inflow from financing activities of ₹ 189.77 Cr but for
FY 2021-2022 we see a cash outflow of ₹ 547.15 Cr.

Overall, the Cash inflow for FY 2020-2021 was ₹ 84.81 Cr and for FY 2021-2022 it was ₹
438 Cr. We see an astounding increase of 416% in cash and cash equivalents when compared
to the previous financial year.

19. Comment about the company based on all financial statements and other key
financial information available from the report.

Some of the major things that were clear based on Havells’ annual report. Havells operating
income grew by 33% when compared to the previous year which in turn resulted in increase
in profit by 11.36% over the previous year though operating margins witnessed a fall and
stood at 12.7% in FY22 as against 15.2% in FY21. Havells was also able bring down their
long term debt at Rs 3 billion as compared to Rs 4 billion during FY21, a fall of 30.8%.
Decrease in long term debt shows a better financial position achieved by the company.

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Over the last two years, havells has experienced strong revenue growth across all segments,
with a 21% CAGR. The channel expansion initiatives are paying off with solid growth in
the Ecom, Rural, Enterprise business, and international markets. New customers were
added, broadening the demand base. In line with recent trends, B2C growth has outpaced
B2B growth; however, conversion in projects and B2B has increased over last year.

Havells received “ICSI CSR Excellence Award” under medium category in its 21st edition
of ICSI National Awards for Excellence in Corporate Governance, 2021. Some of the other
Awards and Accolades received by havells this year were

• India Design Mark 2021 – Silencio mixer grinder

• India Design Mark 2021 – Puro storage electric water heater
• India Design Mark 2021 – Endura Pearl Grand Street light series
• India Design Mark 2021 – Freedom adaptable architectural light

20. State briefly significant information in the public domain such as newspapers,
magazines) about the company since April 1, 2022, till date, if any. The information
must be supported by reference of a newspaper or a magazine.

1) 5th August 2022: Havells India to set up air-conditioner unit at Sri City.

Air conditioner unit to be set up at an investment of Rs 400 crore, the facility will have an
annual production capacity of 5 lakh units. Havells India plans to set up an air-conditioner
manufacturing facility at Sri City bordering Tamil Nadu and Andhra Pradesh at an
investment of close to Rs 400 crore. The facility, which will be operational by next year,
will have an annual production capacity of five lakh units. This will take the company’s total
manufacturing capacity to 15 lakh units per annum, along with the 10 lakh units produced
from the Ghelot facility in Rajasthan, said Vivek Yadav, Executive Vice President, Havells
India.

Source - The Hindu Business Line

2) 19th August 2022: Insured assets worth Rs 150 Cr affected in fire at Neemrana unit:
Havells.

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Assets worth Rs 150 crore, which were fully insured, were affected in the massive fire at its
Neemrana-based manufacturing unit, said consumer electrical goods manufacturer Havells
India. On July 27, a massive fire had broken out at Havells factory at Neemrana in
Rajasthan's Alwar district. There was no human loss/injury and the entire building, plant and
machinery, and inventories at the Neemrana plant were fully insured, said a regulatory
update from Havells India. "The company has now ascertained the book value of the assets
affected due to the incident as around Rs 150 crore, which is fully insured," it said.

Source - Business Standard

3) 2nd June 2022: Havells lays roadmap to penetrate smaller towns in FY23.

The company Home appliances major Havells India NSE 0.95 % plans to build its own
distribution channels in India’s vast hinterland. Anil Rai Gupta, CMD, Havells India, says
in FY23 the company will cover 2,800 additional towns with a population of 10,000-50,000.
“Currently, we sell only certain electrical products in the smaller markets and not white
goods. At present, primarily FMCG companies have an organised distribution channel in
these markets. But we are building our own channel and once it gets stable, we will keep
adding our products,” he says in this interview with ETMarkets.

Source - https://economictimes.indiatimes.com/markets/expert-view/havells-cmd-lays-
roadmap-to-penetrate-smaller-towns-in-
fy23/articleshow/91953917.cms?utm_source=contentofinterest&utm_medium=text&utm_
campaign=cppst.

4) 23rd July 2022: Lower margins weigh on Havells Q1 performance as input, staff costs
surge.

There Domestic appliances and household electrical goods major Havells declared strong
year-on-year (YoY) revenue expansion but lower margins in the first quarter of the 2022-23
financial year (Q1FY23). Revenues grew by 63 per cent YoY to Rs 4,230 crore (the 3-year
compounded annual growth rate or CAGR is 16 per cent, which indicates revenues have
grown compared to the pre-Covid-19 levels). Lloyd (which Havells acquired in 2017-18)

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delivered revenue expansion and across segments like switchgear, lighting, cable & wire
(C&W), revenue expansion occurred on the YoY basis. However, QoQ (quarter-on-quarter)
revenues were down 4 per cent – there is a seasonal bias which may make Q1 weaker than
Q4. EBITDA at Rs 361 crore was up just 2.3 per cent YoY, and down 31 per cent QoQ. The
EBITDA margin dropped over 5 per cent YoY to 8.5 per cent and was down 3.25 per cent
QoQ. The gross margin also contracted by over 3 per cent QoQ and by over 6 per cent YoY.
The PAT (adjusted) was at Rs 242 crore.

Source: Business Standard

5) 10th March 2022: Havells launches new range of EcoActiv energy efficient products;
stock spurts ~3.5%
Havells India Limited, unveiled its revolutionary range of energy efficient ECOACTIV fans
by launching 19 new models under the ceiling, pedestal, wall and ventilator fan category for
the upcoming summer season. The new range of technologically advanced fan comes
equipped with ECOACTIV super-efficient BLDC and induction motor. The basket covering
models based on ECOACTIV technology deliver excellent performance and consume lower
energy offering cost savings up to INR 1900 per annum on electricity bills

Source: India Infoline News Services

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 Annexure

Exhibit-1

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Exhibit-2

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Exhibit-3

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Exhibit-4

Exhibit-5

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performance-as-input-staff-costs-surge-122072201250_1.html

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ecoactiv-energy-efficient-products-stock-spurts-3-5-122031000228_1.html

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facility-in-andhra-pradesh-stock-soars-1-122070700090_1.html

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counter-122060900296_1.html

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affected-in-fire-at-neemrana-unit-havells-122081900644_1.html

https://economictimes.indiatimes.com/markets/expert-view/havells-cmd-lays-roadmap-to-
penetrate-smaller-towns-in-fy23/articleshow/91953917.cms

https://www.tickertape.in/stocks/havells-india-HVEL/news?checklist=basic&type=news

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https://in.investing.com/equities/havells-india-historical-data?interval_sec=monthly

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https://www.havells.com/en/aboutus/committees.html#gref

Prowessiq Database / Havells

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