Havells India Ltd

Havells India Ltd

₹ 1,552 -1.54%
04 Mar 4:01 p.m.
About

Havells India Limited is a leading Fast Moving Electrical Goods (FMEG) Company and a major power distribution equipment manufacturer with a strong global presence.
It enjoys enviable market dominance across a wide spectrum of products, including Industrial & Domestic Circuit Protection Devices, Cables & Wires, Motors, Fans, Modular Switches, Home Appliances, Air Conditioners, Electric Water Heaters, Power Capacitors, Luminaires for Domestic, Commercial and Industrial Applications. [1]

Key Points

Brands
The company owns and operates 5 brands i.e. Havells, Crabtree, Lloyd, Standard and REO functioning in different product segments.[1]

  • Market Cap 97,271 Cr.
  • Current Price 1,552
  • High / Low 1,600 / 1,128
  • Stock P/E 82.0
  • Book Value 110
  • Dividend Yield 0.49 %
  • ROCE 22.4 %
  • ROE 17.1 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 40.7%

Cons

  • Stock is trading at 14.1 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
3,166 3,331 2,598 3,221 3,652 4,417 4,230 3,669 4,120 4,850 4,824 3,891 4,401
2,658 2,826 2,245 2,777 3,212 3,897 3,869 3,382 3,696 4,319 4,421 3,518 3,968
Operating Profit 508 506 353 444 440 521 361 287 424 531 402 373 433
OPM % 16% 15% 14% 14% 12% 12% 9% 8% 10% 11% 8% 10% 10%
39 37 34 33 49 44 47 43 40 47 65 52 56
Interest 15 24 11 11 12 19 10 7 7 10 8 9 10
Depreciation 64 65 62 62 66 71 72 72 75 77 76 81 88
Profit before tax 468 454 315 403 411 475 327 251 382 490 382 335 391
Tax % 25% 33% 26% 25% 26% 26% 26% 26% 26% 26% 25% 26% 26%
349 302 234 302 306 353 242 187 284 362 287 249 288
EPS in Rs 5.58 4.83 3.74 4.81 4.88 5.64 3.87 2.98 4.53 5.77 4.59 3.97 4.59
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
3,575 4,169 4,661 5,171 5,359 6,110 8,139 10,068 9,429 10,428 13,889 16,868 17,965
3,107 3,630 3,990 4,445 4,574 5,284 7,087 8,840 8,364 8,845 12,116 15,244 16,226
Operating Profit 468 539 671 726 786 826 1,051 1,227 1,066 1,583 1,772 1,624 1,739
OPM % 13% 13% 14% 14% 15% 14% 13% 12% 11% 15% 13% 10% 10%
-5 5 38 51 270 75 127 123 105 188 159 177 220
Interest 44 29 51 43 42 12 24 55 51 90 67 55 38
Depreciation 45 58 64 88 105 120 140 149 218 249 261 296 323
Profit before tax 374 457 595 646 909 769 1,015 1,146 902 1,432 1,604 1,450 1,599
Tax % 18% 19% 20% 28% 22% 30% 30% 31% 19% 27% 26% 26%
305 371 479 465 712 539 713 787 733 1,040 1,195 1,075 1,186
EPS in Rs 4.90 5.95 7.67 7.45 11.40 8.63 11.40 12.59 11.71 16.61 19.08 17.16 18.92
Dividend Payout % 27% 25% 39% 40% 53% 41% 35% 36% 34% 39% 39% 44%
Compounded Sales Growth
10 Years: 15%
5 Years: 16%
3 Years: 21%
TTM: 9%
Compounded Profit Growth
10 Years: 11%
5 Years: 9%
3 Years: 13%
TTM: 11%
Stock Price CAGR
10 Years: 26%
5 Years: 17%
3 Years: 12%
1 Year: 31%
Return on Equity
10 Years: 20%
5 Years: 19%
3 Years: 20%
Last Year: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 62 62 62 62 62 62 63 63 63 63 63 63 63
Reserves 1,546 1,808 2,067 2,313 2,891 3,211 3,677 4,130 4,242 5,102 5,926 6,552 6,826
129 109 196 83 44 198 108 94 162 623 616 223 268
910 879 1,073 1,190 1,091 1,488 2,694 2,839 2,581 3,033 3,900 4,306 3,847
Total Liabilities 2,647 2,858 3,398 3,649 4,089 4,960 6,541 7,126 7,048 8,820 10,505 11,143 11,004
778 904 906 985 1,188 1,266 2,785 2,904 3,349 3,290 3,434 3,621 3,839
CWIP 56 10 28 22 20 12 24 233 86 90 57 166 143
Investments 775 792 883 1,012 463 389 42 2 2 308 428 201 20
1,038 1,153 1,582 1,630 2,418 3,293 3,690 3,988 3,611 5,132 6,587 7,155 7,002
Total Assets 2,647 2,858 3,398 3,649 4,089 4,960 6,541 7,126 7,048 8,820 10,505 11,143 11,004

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
357 381 653 600 525 778 1,108 513 825 658 1,745 565
-186 -136 -383 -608 -77 -227 -1,003 185 -548 -763 -760 35
-85 -136 -115 -269 -498 -72 -358 -318 -716 190 -547 -907
Net Cash Flow 87 110 154 -276 -50 478 -254 380 -439 84 437 -307

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 16 11 11 9 11 14 15 15 9 20 20 21
Inventory Days 108 95 90 79 90 97 123 115 121 153 119 120
Days Payable 89 57 59 45 50 66 124 94 91 93 96 85
Cash Conversion Cycle 35 49 41 43 51 45 14 36 39 79 44 55
Working Capital Days -2 6 -11 -21 1 -6 -16 0 3 25 11 26
ROCE % 27% 26% 30% 29% 27% 26% 28% 30% 22% 29% 27% 22%

Shareholding Pattern

Numbers in percentages

2 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
59.50% 59.47% 59.47% 59.47% 59.47% 59.45% 59.45% 59.45% 59.45% 59.43% 59.43% 59.43%
24.91% 24.01% 26.76% 26.51% 24.44% 23.10% 23.30% 22.60% 23.11% 23.79% 24.19% 23.96%
7.89% 8.17% 6.12% 6.26% 8.15% 8.95% 9.70% 10.40% 10.27% 9.68% 9.38% 10.00%
0.19% 0.12% 0.11% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.11%
7.51% 8.17% 7.54% 7.66% 7.83% 8.35% 7.43% 7.43% 7.05% 6.95% 6.90% 6.49%
0.01% 0.05% 0.01% 0.01% 0.01% 0.04% 0.01% 0.01% 0.01% 0.03% 0.00% 0.00%
No. of Shareholders 1,58,5142,21,9381,89,9912,16,4132,56,0932,44,0142,36,3602,49,6802,39,6862,25,2552,24,2082,31,540

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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