Lloyd Reports Revenue Decline and Loss During FY2026 in India

Lloyd

India: Havells India reported that its consumer appliances brand Lloyd recorded a decline in performance in FY2026 due to weak summer demand and elevated channel inventory. Revenue fell by 23% to US$411 million, compared to US$534 million in the previous year. The business reported a loss of about US$21 million against a profit in FY2025, as lower sales volumes led to underabsorption of fixed costs and reduced profitability.

Despite the slowdown, Lloyd continued to expand its presence beyond air conditioners into other appliances such as washing machines, refrigerators and televisions. The company commissioned a refrigerator manufacturing facility in Rajasthan during March 2026 and continued to increase its retail network and product portfolio. Havells indicated that inventory levels and weaker demand conditions affected volumes during the year, while efforts remained focused on strengthening manufacturing capabilities and distribution reach.

Source: Goodreturns