Notice Brief
On 26th November 2025, the Board of Havells India Limited  approved acquiring a 26% stake in Kundan Solar Pali Private Limited, a Special Purpose Vehicle engaged in solar power generation, for a total cash investment of INR 5.63 crores. The move aims to secure a long-term Power Purchase Agreement and reduce dependence on fossil fuels, with the 15 MWac solar plant expected to help lower power costs at Havells’ Rajasthan facilities. The investment will be made in tranches and is expected to be completed by 30 June 2026, aligning with India’s push towards green energy.​

Notice Details
Kundan Solar is a subsidiary of Kundan Green Energy, part of the Kundan Group, focusing on renewable and sustainable modes of power generation. This acquisition does not involve related party transactions, and Havells’ promoters do not have interests in Kundan Solar. The deal is structured entirely as a cash transaction, with Havells acquiring the minimum stake required under Electricity Laws to qualify as a captive consumer and benefit from project cost savings within 12–18 months of commissioning.​

About the Company and Recent News
Havells India Limited is a leading Indian electronics and electrical equipment company with a portfolio spanning consumer goods, industrial cables, lighting, and appliances. The company recently invested INR 600 crore for a strategic stake in Goldi Solar, further cementing its focus on renewable energy. Despite industry headwinds such as inventory and regulatory changes, Havells’ cables business posted robust growth in 2025, benefitting from India’s infrastructure push and real estate demand. The company’s premium product strategy and innovative launches, such as BLDC fan technology and AI-powered appliances, have bolstered its market position. Notably, Havells acquired Lloyd, making it India’s third-largest AC brand, and has been expanding its reach and retail network.​

Q2 FY26 Financial Results Analysis
For Q2 FY26 (quarter ended September 2025), Havells India Limited reported consolidated revenue of ₹4,779 crore and a profit after tax (PAT) of ₹318 crore. Revenue rose by 5.3% year-over-year (YoY) from ₹4,539 crore in Q2 FY25 and declined by 11.9% quarter-over-quarter (QoQ) from ₹5,429 crore in Q1 FY26. PAT increased by 18.9% YoY from ₹267.8 crore in Q2 FY25, but declined by 8.4% QoQ from ₹347.5 crore in Q1 FY26. The table below summarizes the result analysis:

Famous investors in Havells India Limited have included notable Indian mutual funds and foreign institutional investors, though at present, no high-profile individual investor dominates its shareholding.​