The Lloyd Consumer segment, including air conditioners, refrigerators, and televisions, remained a pain point. It reported an Ebit loss for the fourth straight quarter. The segment contributed almost one-fourth of Havells’ total revenue. Lloyd’s revenue fell 19% y-o-y, albeit on a relatively high base. Lloyd was also hit by cost pressure due to changes in energy efficiency norms, a rise in copper prices, and rupee depreciation. So, Lloyd’s FY26 revenue fell by 23% against 35% growth in FY25, with negative Ebit of ₹203 crore against profit of ₹131 crore in FY25. While the company has taken price increases of 8-15% in Q4FY26, further hikes would be needed to fully pass on increased costs.
