Havells India Ltd

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

Havells India Ltd

₹ 1,239 -1.72%
24 Apr - 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 ₹ 77,692 Cr.
  • Current Price ₹ 1,239
  • High / Low ₹ 1,633 / 1,142
  • Stock P/E 45.0
  • Book Value ₹ 151
  • Dividend Yield 0.81 %
  • ROCE 24.9 %
  • ROE 19.4 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 41.4%

Cons

  • Stock is trading at 8.22 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

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
4,859 4,834 3,900 4,414 5,442 5,806 4,539 4,889 6,544 5,455 4,779 5,588 6,705
4,332 4,432 3,527 3,981 4,807 5,234 4,164 4,462 5,787 4,940 4,341 5,072 5,976
Operating Profit 527 402 373 433 635 572 375 426 757 516 438 516 729
OPM % 11% 8% 10% 10% 12% 10% 8% 9% 12% 9% 9% 9% 11%
47 65 52 56 76 77 93 64 69 69 91 9 310
Interest 10 8 9 10 18 9 10 9 15 9 9 9 10
Depreciation 77 76 81 88 93 92 95 104 110 106 106 109 112
Profit before tax 487 382 335 391 599 549 363 377 701 470 415 408 918
Tax % 26% 25% 26% 26% 25% 26% 26% 26% 26% 26% 23% 26% 21%
358 287 249 288 447 408 268 278 517 348 318 300 723
EPS in Rs 5.71 4.58 3.97 4.59 7.13 6.51 4.28 4.44 8.26 5.55 5.09 4.80 11.53
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
8,468 7,594 6,130 8,116 10,073 9,440 10,457 13,938 16,911 18,590 21,778 22,528
7,713 6,798 5,315 7,083 8,885 8,373 8,868 12,163 15,290 16,709 19,603 20,328
Operating Profit 755 796 815 1,033 1,189 1,067 1,589 1,775 1,621 1,881 2,175 2,200
OPM % 9% 10% 13% 13% 12% 11% 15% 13% 10% 10% 10% 10%
48 949 42 97 124 106 187 159 178 249 288 479
Interest 96 91 13 25 16 51 90 67 55 84 72 37
Depreciation 139 134 121 140 149 218 249 261 296 338 400 432
Profit before tax 569 1,520 723 965 1,147 904 1,438 1,607 1,447 1,707 1,990 2,210
Tax % 32% 14% 32% 31% 31% 19% 27% 26% 26% 26% 26% 24%
385 1,300 494 661 788 735 1,044 1,196 1,072 1,271 1,470 1,689
EPS in Rs 6.17 20.82 7.91 10.60 12.59 11.75 16.68 19.10 17.11 20.28 23.48 26.95
Dividend Payout % 49% 29% 44% 4% 36% 34% 39% 39% 44% 44% 43% 37%
Compounded Sales Growth
10 Years: 11%
5 Years: 17%
3 Years: 10%
TTM: 3%
Compounded Profit Growth
10 Years: 12%
5 Years: 11%
3 Years: 17%
TTM: 16%
Stock Price CAGR
10 Years: 14%
5 Years: 4%
3 Years: 0%
1 Year: -23%
Return on Equity
10 Years: 19%
5 Years: 19%
3 Years: 19%
Last Year: 19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 62 62 62 63 63 63 63 63 63 63 63 63
Reserves 1,756 2,965 3,214 3,667 4,135 4,249 5,114 5,940 6,563 7,384 8,261 9,393
424 134 208 115 94 72 521 616 223 303 319 265
2,546 1,225 1,683 2,763 2,856 2,690 3,155 3,904 4,309 4,683 5,167 5,026
Total Liabilities 4,788 4,387 5,168 6,608 7,148 7,073 8,852 10,523 11,157 12,433 13,809 14,746
1,541 1,224 1,300 2,819 2,904 3,350 3,290 3,434 3,621 3,988 4,652 5,346
CWIP 38 20 12 24 233 86 90 57 166 299 118 439
Investments 0 189 162 0 0 0 306 426 201 20 11 888
3,209 2,954 3,694 3,765 4,012 3,638 5,166 6,606 7,170 8,126 9,028 8,072
Total Assets 4,788 4,387 5,168 6,608 7,148 7,073 8,852 10,523 11,157 12,433 13,809 14,746

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
963 513 767 1,100 501 827 660 1,728 565 1,953 1,515 1,572
-485 -121 -220 -946 185 -548 -763 -759 31 -1,618 -305 -893
-754 -621 -98 -409 -318 -716 190 -547 -907 -534 -669 -693
Net Cash Flow -277 -229 450 -255 368 -437 87 421 -311 -199 541 -14
Free Cash Flow 793 299 529 -489 2 467 507 1,475 -21 1,191 762 156
CFO/OP 153% 87% 119% 130% 63% 100% 59% 121% 59% 125% 93% 95%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 27 11 14 15 15 9 20 20 21 23 21 13
Inventory Days 103 70 99 124 115 121 153 119 119 102 104 107
Days Payable 79 42 66 125 94 92 93 95 85 81 78 70
Cash Conversion Cycle 51 39 46 14 36 39 79 44 55 44 47 50
Working Capital Days -6 -3 -8 -17 -0 1 20 7 25 11 12 14
ROCE % 27% 28% 25% 27% 29% 22% 30% 27% 22% 24% 25% 25%

Insights

In beta
Mar 2019 Mar 2020 Mar 2024 Mar 2025 Sep 2026 (P)
Installed Solar Capacity for Self-Consumption
MW

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Lloyd AC Manufacturing Capacity
Million Units
Number of Dealers/Distributors
Number ・Standalone data
Retail Reach (Outlets)
Lakhs
Active SKUs
Number
Exclusive Brand Stores (Havells Galaxy)
Number
Manufacturing Locations
Number
In-house Manufacturing Share
%
Cables Manufacturing Capacity
Lakh Km
R&D Expenditure (Percentage of Turnover)
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
59.43% 59.43% 59.43% 59.43% 59.41% 59.41% 59.41% 59.41% 59.38% 59.38% 59.38% 59.38%
23.79% 24.19% 23.96% 24.83% 25.33% 24.76% 23.46% 22.31% 21.59% 19.28% 17.96% 16.93%
9.68% 9.38% 10.00% 9.77% 9.42% 10.10% 11.43% 12.63% 13.18% 15.35% 16.53% 17.50%
0.10% 0.10% 0.11% 0.11% 0.13% 0.13% 0.13% 0.13% 0.17% 0.17% 0.17% 0.23%
6.95% 6.90% 6.49% 5.85% 5.66% 5.58% 5.57% 5.52% 5.62% 5.81% 5.95% 5.96%
0.03% 0.00% 0.00% 0.00% 0.04% 0.00% 0.00% 0.00% 0.04% 0.00% 0.00% 0.00%
No. of Shareholders 2,25,2552,24,2082,31,5402,24,4282,14,7132,13,7452,37,3252,46,9102,59,3152,66,8722,76,1282,74,520

* 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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