The management said the encouraging business performance with secular growth across divisions and regions was led by improvement in consumer sentiment, festive season and reduction in Covid-19 cases and increased penetration in smaller towns and a higher rural reach. The supply chain disruption faced by suppliers with high import dependence has further supported market share gains, it said.
“Strong festive demand, market share gains and increased penetration in smaller towns helped Havells to record a strong set of numbers during Q3FY21. We await management commentary on sustainability of the recovery in the Industrial business and outlook of consumer business going forward,” ICICI Securities said in a note.
Meanwhile, the company's board of directors has declared an interim dividend of Rs 3 per equity share of Re 1 each i.e. at 300 per cent on the equity share capital of the company. The company has fixed January 29, 2021 as record date for ascertaining eligibility of shareholders for payment of interim dividend.
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