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Q3 saw continued growth momentum with strong beat in estimates, with strong performance across segments with Lloyd growing by 70.3% YoY.
Sales was up 39.7% YoY, Ebitda was up 89.2% YoY and profit after tax was up 74.4% YoY.
Net working capital days remained relatively flat sequentially at 35 days versus 37 days previous quarter.
Larger players like Havells India Ltd. have gained market share from the unorganized players, pushed by higher festive demand, better rural reach and stronger supply chain.
Lloyd saw a growth across segments mainly in TVs and appliances with higher festive sales and ACs due to import ban, helped by its backward integration capabilities and own manufacturing facilities.
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