Havells India Ltd

Havells India Ltd

₹ 1,840 0.67%
19 Jun 9:06 a.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 1,15,303 Cr.
  • Current Price 1,840
  • High / Low 1,987 / 1,233
  • Stock P/E 91.3
  • Book Value 119
  • Dividend Yield 0.48 %
  • ROCE 24.4 %
  • ROE 18.0 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 42.5%
  • Company's working capital requirements have reduced from 16.7 days to 12.6 days

Cons

  • Stock is trading at 15.4 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

Sector: Consumer Durables Industry: Electric Equipment

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
3,339 2,610 3,238 3,664 4,426 4,244 3,679 4,128 4,859 4,834 3,900 4,414 5,442
2,831 2,255 2,793 3,224 3,906 3,883 3,393 3,704 4,332 4,432 3,527 3,981 4,807
Operating Profit 508 355 445 440 520 362 287 424 527 402 373 433 635
OPM % 15% 14% 14% 12% 12% 9% 8% 10% 11% 8% 10% 10% 12%
37 34 33 49 44 48 44 40 47 65 52 56 76
Interest 24 11 11 12 19 10 7 7 10 8 9 10 18
Depreciation 65 62 62 66 71 72 72 75 77 76 81 88 93
Profit before tax 456 317 405 411 474 327 252 381 487 382 335 391 599
Tax % 33% 26% 25% 26% 26% 26% 26% 26% 26% 25% 26% 26% 25%
304 236 302 306 352 243 187 284 358 287 249 288 447
EPS in Rs 4.85 3.76 4.83 4.88 5.63 3.88 2.98 4.53 5.71 4.58 3.97 4.59 7.13
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
7,135 8,051 8,468 7,594 6,130 8,116 10,073 9,440 10,457 13,938 16,911 18,590
6,461 7,274 7,713 6,798 5,315 7,083 8,885 8,374 8,868 12,163 15,290 16,709
Operating Profit 674 777 755 796 815 1,033 1,189 1,067 1,589 1,775 1,621 1,881
OPM % 9% 10% 9% 10% 13% 13% 12% 11% 15% 13% 10% 10%
222 35 48 949 42 97 124 107 187 159 178 249
Interest 123 102 96 91 13 25 16 51 90 67 55 84
Depreciation 110 116 139 134 121 140 149 218 249 261 296 338
Profit before tax 664 594 569 1,520 723 965 1,147 904 1,438 1,607 1,447 1,707
Tax % 12% 25% 32% 14% 32% 31% 31% 19% 27% 26% 26% 26%
581 446 385 1,300 494 661 788 735 1,044 1,196 1,072 1,271
EPS in Rs 9.32 7.15 6.17 20.82 7.91 10.60 12.59 11.75 16.68 19.10 17.11 20.28
Dividend Payout % 16% 42% 49% 29% 44% 4% 36% 34% 39% 39% 44% 44%
Compounded Sales Growth
10 Years: 9%
5 Years: 13%
3 Years: 21%
TTM: 10%
Compounded Profit Growth
10 Years: 11%
5 Years: 10%
3 Years: 8%
TTM: 18%
Stock Price CAGR
10 Years: 24%
5 Years: 18%
3 Years: 22%
1 Year: 36%
Return on Equity
10 Years: 19%
5 Years: 19%
3 Years: 19%
Last Year: 18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 62 62 62 62 62 63 63 63 63 63 63 63
Reserves 1,380 1,604 1,756 2,965 3,214 3,667 4,135 4,249 5,114 5,940 6,563 7,384
982 1,054 424 134 208 115 94 72 521 616 223 303
2,034 2,613 2,546 1,225 1,683 2,763 2,856 2,690 3,155 3,904 4,309 4,683
Total Liabilities 4,458 5,332 4,788 4,387 5,168 6,608 7,148 7,073 8,852 10,523 11,157 12,433
1,500 1,600 1,541 1,224 1,300 2,819 2,904 3,350 3,290 3,434 3,621 3,988
CWIP 25 44 38 20 12 24 233 86 90 57 166 299
Investments 0 0 0 189 162 0 0 0 306 426 201 20
2,933 3,688 3,209 2,954 3,694 3,765 4,012 3,638 5,166 6,606 7,170 8,126
Total Assets 4,458 5,332 4,788 4,387 5,168 6,608 7,148 7,073 8,852 10,523 11,157 12,433

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
638 868 963 513 767 1,100 501 827 660 1,728 565 1,953
-144 -376 -485 -121 -220 -946 185 -548 -763 -759 31 -1,618
-252 -310 -754 -621 -98 -409 -318 -716 190 -547 -907 -534
Net Cash Flow 242 183 -277 -229 450 -255 368 -437 87 421 -311 -199

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 44 45 27 11 14 15 15 9 20 20 21 23
Inventory Days 116 121 103 70 99 124 115 121 153 119 119 102
Days Payable 82 98 79 42 66 125 94 92 93 95 85 81
Cash Conversion Cycle 78 69 51 39 46 14 36 39 79 44 55 44
Working Capital Days 31 16 -3 1 4 -17 -0 1 25 11 26 13
ROCE % 26% 27% 27% 28% 25% 27% 29% 22% 30% 27% 22% 24%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
59.47% 59.47% 59.47% 59.47% 59.45% 59.45% 59.45% 59.45% 59.43% 59.43% 59.43% 59.43%
24.01% 26.76% 26.51% 24.44% 23.10% 23.30% 22.60% 23.11% 23.79% 24.19% 23.96% 24.83%
8.17% 6.12% 6.26% 8.15% 8.95% 9.70% 10.40% 10.27% 9.68% 9.38% 10.00% 9.77%
0.12% 0.11% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.11% 0.11%
8.17% 7.54% 7.66% 7.83% 8.35% 7.43% 7.43% 7.05% 6.95% 6.90% 6.49% 5.85%
0.05% 0.01% 0.01% 0.01% 0.04% 0.01% 0.01% 0.01% 0.03% 0.00% 0.00% 0.00%
No. of Shareholders 2,21,9381,89,9912,16,4132,56,0932,44,0142,36,3602,49,6802,39,6862,25,2552,24,2082,31,5402,24,428

* 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.

Documents

Concalls