Havells India shares plunged on Monday following weak Q1 results. Anil Rai Gupta, CMD of the company, spoke to CNBC-TV18 about the financial performance and shared business outlook for FY20.

“Ever since November, things have slowed down especially in the real estate sector because of liquidity and NBFC crisis,” said Gupta on Monday.

Talking about the consumer durables business, he said, “We see mid-teens growth in fans but most of the product categories where our market shares are smaller, for example, domestic appliances or water purifiers, we have seen more than 50 percent gains in growth in this category.”

“However, we definitely feel that even in switchgear despite flat growth we have gained market share since November,” he added.

Speaking about Lloyd, Rai Gupta said, “We are in a structural transition for the brand. There is a significant increase in ad spends in Lloyd and the reason behind that is that we are transitioning the brand from a price player to amass premium player.”

On the margin front, Gupta said, “Margins continue to remain stable. However, as the commodity prices and crude starts on the benign front and inflation is also benign, we should see some margin expansion in the coming quarters as well.”