Havells India Ltd

Havells India Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Havells India Ltd

₹ 1,442 -2.97%
06 Nov - close price
havells.com BSE: 517354 NSE: HAVELLS
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

Product Segments
The company offers 20 products categories across 20,000+ active SKUs, under the following segments: [1]
1) Cables (32% in H1 FY25 vs 33% in FY22): [2] [3] The company offers flexible and power cables including multicore round cable, flat submersible cable, LAN cable, CCTV, speaker cable, etc. [4]

Website BSE NSE
  • Market Cap ₹ 90,472 Cr.
  • Current Price ₹ 1,442
  • High / Low ₹ 1,783 / 1,360
  • Stock P/E 61.8
  • Book Value ₹ 138
  • Dividend Yield 0.69 %
  • ROCE 25.3 %
  • ROE 18.8 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 43.6%
  • Company's working capital requirements have reduced from 16.3 days to 12.0 days

Cons

  • Stock is trading at 10.4 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.

Peer comparison

Consumer Discretionary Consumer Durables Consumer Durables Consumer Electronics

Part of BSE 500 BSE Consumer Durables BSE 100 BSE 200 BSE Dollex 200

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
3,679 4,128 4,859 4,834 3,900 4,414 5,442 5,806 4,539 4,889 6,544 5,455 4,779
3,393 3,704 4,332 4,432 3,527 3,981 4,807 5,234 4,164 4,462 5,787 4,940 4,341
Operating Profit 287 424 527 402 373 433 635 572 375 426 757 516 438
OPM % 8% 10% 11% 8% 10% 10% 12% 10% 8% 9% 12% 9% 9%
44 40 47 65 52 56 76 77 93 64 69 69 91
Interest 7 7 10 8 9 10 18 9 10 9 15 9 9
Depreciation 72 75 77 76 81 88 93 92 95 104 110 106 106
Profit before tax 252 381 487 382 335 391 599 549 363 377 701 470 415
Tax % 26% 26% 26% 25% 26% 26% 25% 26% 26% 26% 26% 26% 23%
187 284 358 287 249 288 447 408 268 278 517 348 318
EPS in Rs 2.98 4.53 5.71 4.58 3.97 4.59 7.13 6.51 4.28 4.44 8.26 5.55 5.09
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
8,051 8,468 7,594 6,130 8,116 10,073 9,440 10,457 13,938 16,911 18,590 21,778 21,667
7,274 7,713 6,798 5,315 7,083 8,885 8,374 8,868 12,163 15,290 16,709 19,603 19,530
Operating Profit 777 755 796 815 1,033 1,189 1,067 1,589 1,775 1,621 1,881 2,175 2,138
OPM % 10% 9% 10% 13% 13% 12% 11% 15% 13% 10% 10% 10% 10%
35 48 949 42 97 124 107 187 159 178 249 288 293
Interest 102 96 91 13 25 16 51 90 67 55 84 72 43
Depreciation 116 139 134 121 140 149 218 249 261 296 338 400 425
Profit before tax 594 569 1,520 723 965 1,147 904 1,438 1,607 1,447 1,707 1,990 1,963
Tax % 25% 32% 14% 32% 31% 31% 19% 27% 26% 26% 26% 26%
446 385 1,300 494 661 788 735 1,044 1,196 1,072 1,271 1,470 1,461
EPS in Rs 7.15 6.17 20.82 7.91 10.60 12.59 11.75 16.68 19.10 17.11 20.28 23.48 23.34
Dividend Payout % 42% 49% 29% 44% 4% 36% 34% 39% 39% 44% 44% 43%
Compounded Sales Growth
10 Years: 10%
5 Years: 18%
3 Years: 16%
TTM: 7%
Compounded Profit Growth
10 Years: 14%
5 Years: 15%
3 Years: 7%
TTM: 4%
Stock Price CAGR
10 Years: 19%
5 Years: 12%
3 Years: 5%
1 Year: -14%
Return on Equity
10 Years: 19%
5 Years: 19%
3 Years: 18%
Last Year: 19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 62 62 62 62 63 63 63 63 63 63 63 63 63
Reserves 1,604 1,756 2,965 3,214 3,667 4,135 4,249 5,114 5,940 6,563 7,384 8,261 8,608
1,054 424 134 208 115 94 72 521 616 223 303 319 286
2,613 2,546 1,225 1,683 2,763 2,856 2,690 3,155 3,904 4,309 4,683 5,167 4,690
Total Liabilities 5,332 4,788 4,387 5,168 6,608 7,148 7,073 8,852 10,523 11,157 12,433 13,809 13,647
1,600 1,541 1,224 1,300 2,819 2,904 3,350 3,290 3,434 3,621 3,988 4,652 4,651
CWIP 44 38 20 12 24 233 86 90 57 166 299 118 475
Investments 0 0 189 162 0 0 0 306 426 201 20 11 616
3,688 3,209 2,954 3,694 3,765 4,012 3,638 5,166 6,606 7,170 8,126 9,028 7,905
Total Assets 5,332 4,788 4,387 5,168 6,608 7,148 7,073 8,852 10,523 11,157 12,433 13,809 13,647

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
868 963 513 767 1,100 501 827 660 1,728 565 1,953 1,515
-376 -485 -121 -220 -946 185 -548 -763 -759 31 -1,618 -305
-310 -754 -621 -98 -409 -318 -716 190 -547 -907 -534 -669
Net Cash Flow 183 -277 -229 450 -255 368 -437 87 421 -311 -199 541

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 45 27 11 14 15 15 9 20 20 21 23 21
Inventory Days 121 103 70 99 124 115 121 153 119 119 102 104
Days Payable 98 79 42 66 125 94 92 93 95 85 81 78
Cash Conversion Cycle 69 51 39 46 14 36 39 79 44 55 44 47
Working Capital Days 11 -6 -3 -8 -17 -0 1 20 7 25 11 12
ROCE % 27% 27% 28% 25% 27% 29% 22% 30% 27% 22% 24% 25%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
59.45% 59.45% 59.43% 59.43% 59.43% 59.43% 59.41% 59.41% 59.41% 59.41% 59.38% 59.38%
22.60% 23.11% 23.79% 24.19% 23.96% 24.83% 25.33% 24.76% 23.46% 22.31% 21.59% 19.28%
10.40% 10.27% 9.68% 9.38% 10.00% 9.77% 9.42% 10.10% 11.43% 12.63% 13.18% 15.35%
0.10% 0.10% 0.10% 0.10% 0.11% 0.11% 0.13% 0.13% 0.13% 0.13% 0.17% 0.17%
7.43% 7.05% 6.95% 6.90% 6.49% 5.85% 5.66% 5.58% 5.57% 5.52% 5.62% 5.81%
0.01% 0.01% 0.03% 0.00% 0.00% 0.00% 0.04% 0.00% 0.00% 0.00% 0.04% 0.00%
No. of Shareholders 2,49,6802,39,6862,25,2552,24,2082,31,5402,24,4282,14,7132,13,7452,37,3252,46,9102,59,3152,66,872

* 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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