Event Type and Details:

  • This is a transcript of the Q1 FY27 Earnings Conference Call held on August 6, 2026
  • The call was hosted by ICICI Securities with moderators Mr. Aniruddha Joshi and Ms. Minali Ginwala
  • The event was scheduled after the earnings announcement for the quarter ended June 30, 2026

Management Participants:

  • Mr. Promeet Ghosh - Managing Director and Chief Executive Officer
  • Mr. Kaleeswaran Arunachalam - Chief Financial Officer
  • Mr. Sachin Phartiyal - Business Head - Home Electricals
  • Mr. Shaleen Nayak - Business Head - Lighting, Solar Rooftops and Wires
  • Ms. Swetha Sagar - Chief Business Officer - Butterfly Gandhimathi Appliances
  • Mr. Ruchir Jain - Head - Investor Relations, Corporate Strategy, FP&A
  • Mr. Rishabh Jain - Deputy General Manager - Investor Relations
  • Mr. Anand Kumar - Head of Pumps and Kitchen Appliances

Financial Performance Highlights:

  • Consolidated revenue grew 11.8% YoY to ₹2,235 crores
  • EBITDA grew 14.2% YoY to ₹224 crores with margins expanding 20 bps to 10%
  • Profit after tax grew 15.2% to ₹143 crores with net profit margin at 6.4%
  • ECD business delivered 10.6% YoY revenue growth
  • Lighting business revenue grew 15.4% YoY to ₹269 crores
  • Butterfly revenue grew 14% to ₹214 crores (18% growth excluding internal sales to Crompton)

Business Segment Updates:

  • BLDC fan portfolio grew ~45% YoY with 5 new BLDC fan launches during the quarter
  • Company maintained market leadership in ceiling fans with market share gains
  • Pumps delivered strong performance with market share gains
  • Water heaters achieved leadership position in volume terms in General Trade
  • Lighting business showed strong momentum in both B2B and B2C segments
  • Butterfly gained market share in mixer grinders, pressure cookers, and glass tops

Operational Challenges:

  • Company faced commodity cost and availability pressures leading to supply disruptions
  • Estimated sales loss of approximately ₹200 crores due to supply constraints
  • Supply issues were largely resolved by end of quarter, with strong start to Q2
  • Pricing interventions covered approximately 80% of inflationary pressures

Future Events:

  • Brand launch event scheduled for August 18, 2026
  • Capital market investor event scheduled for August 20, 2026
  • Solar rooftop order book of ~₹500 crores (₹450 crores expected to be executed over 6-8 months)

Compliance Statement:

  • The document represents a transcript of the earnings call discussion
  • No specific statement regarding unpublished price sensitive information was made in the transcript

Additional Notes Section

  • The document includes the full transcript of the Q1 FY27 earnings conference call
  • No financial presentation deck or additional materials were attached to this specific disclosure
  • The transcript contains detailed management commentary on financial performance, operational challenges, and business outlook
  • The company emphasized its disciplined approach to pricing, cost management, and working capital optimization throughout the quarter
  • Supply chain disruptions related to commodity availability were a significant theme discussed during the call