Havells India Limited
₹1,012.75-₹5.75 (-0.6%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹89,811 Cr
- P/E
- 60.9x
- EV / EBITDA
- 41.5x
- Revenue
- ₹21,746 Cr
- Net margin
- 6.9%
- ROCE
- 24.3%
Price chart
Technical chartScreen technicals →-32.8% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -0.2%
- 3M
- -19.7%
- 6M
- -18.4%
- 1Y
- -32.8%
- 5Y
- -21.8%
52-week range
Day change -₹5.75 (-0.6%) from ₹1,019 to ₹1,013 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in HAVELLS, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Healthy return on equity of 17.1%
Concerns0
Rule-based from financial data. Not advice.
About the company
Havells India Limited, a fast-moving electrical goods company, manufactures, trades in, and sells various consumer electrical and electronic products in India and internationally. The company operates through six segments: Switchgears, Cables, Lighting and Fixtures, Electrical Consumer Durables, Lloyd Consumer, and Others.
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Havells India Limited, a fast-moving electrical goods company, manufactures, trades in, and sells various consumer electrical and electronic products in India and internationally. The company operates through six segments: Switchgears, Cables, Lighting and Fixtures, Electrical Consumer Durables, Lloyd Consumer, and Others. It offers switches; switchgears, such as circuit breakers, energy savers, human safety equipment, distribution boards, surge protection devices, and control and monitoring devices, as well as magnetic contractor, thermal overload relays, switchgear, circuit breakers, and starters; lighting products; and home appliances, including air conditioners, LED televisions, washing machines, refrigerators, air coolers and purifiers, appliances, personal grooming products, water heaters and purifiers, and geysers. The company also provides flexible, power, control, and fire survival cables; fans comprising ceiling, table, pedestal, wall, ceiling mounting, personal, and domestic exhaust fans; centrifugal, mono block, submersible, borewell and sewage submersible, pressure, and shallow well jet pumps; dishwashers; air circulators; and heavy-duty exhaust fans. In addition, it offers crane duty, smoke, brake, inverter duty, and energy motors; solar rooftop on grid, solar off grid, and solar on grid inverter solutions; and power solutions, including power capacitors, IOT enabled IPFC relays, HD harmonic detuned reactors, IOT enabled APFC panels, and high PIV thyristor switches. The company offers its products under the Havells, Lloyd, Havells Crabtree, REO, and Havells Studio brands. Havells India Limited was founded in 1958 and is based in Noida, India.
- Sector
- Consumer Discretionary
- Shares outstanding
- 62.7 Cr shares
- ISIN
- INE176B01034
- BSE code
- 517354
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹89,811 Cr
- P/E
- 60.9x
- P/B
- 10.4x
- EV / EBITDA
- 41.5x
- EV / Sales
- 4.8x
- P/S
- 4.8x
- Earnings yield
- 1.6%
- 52-week high
- ₹1,509.45
- 52-week low
- ₹1,005.15
Profitability
- Operating margin
- 10.2%
- Net margin
- 6.9%
- EBITDA margin
- 11.5%
- ROE
- 17.1%
- ROCE
- 24.3%
- ROA
- 10.2%
- Dividend payout
- 44.0%
- Tax rate
- 26.0%
- Other income, % of PBT
- 14.6%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹21,746 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 17.2%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 14.5%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹2,133 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 18.4%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 17.0%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 11.7%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1,959 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 246.7%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹538 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 11.5%
Solvency and efficiency
- Current ratio
- 1.74
- Debt / Equity
- 0.04
- Debt / Assets
- 0.02
- Debt / EBITDA
- 0.14
- Interest coverage
- 22.43
- Financial leverage
- 1.67
- CFO / Net profit
- 1.54
- Cash / Market cap
- 9.0%
- Cash per share
- ₹129.02
- Asset turnover
- 1.49
- Fixed asset turnover
- 4.65
- Capital intensity
- 0.21
- Debtor days
- 23 days
- Inventory turnover
- 3.58
- Cash conversion cycle
- 44 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹7 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹19,554 Cr |
| Sales | Operating profit | ₹2,192 Cr |
| Operating profit | Interest | ₹72 Cr |
| Operating profit | Depreciation | ₹399 Cr |
| Operating profit | Profit before tax | ₹1,721 Cr |
| Other income | Profit before tax | ₹287 Cr |
| Profit before tax | Tax and other | ₹520 Cr |
| Profit before tax | Net profit | ₹1,489 Cr |
Revenue and net profit
Revenue grew 17.2% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹10,428 Cr | ₹1,040 Cr |
| FY2022 | ₹13,889 Cr | ₹1,195 Cr |
| FY2023 | ₹16,868 Cr | ₹1,075 Cr |
| FY2024 | ₹18,550 Cr | ₹1,273 Cr |
| FY2025 | ₹21,746 Cr | ₹1,489 Cr |
Cash flows
FY2025: ₹1,561 Cr from operations, ₹1,227 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹658 Cr | -₹105 Cr |
| FY2022 | ₹1,745 Cr | ₹985 Cr |
| FY2023 | ₹565 Cr | ₹600 Cr |
| FY2024 | ₹1,959 Cr | ₹320 Cr |
| FY2025 | ₹1,561 Cr | ₹1,227 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹21,746 Cr+17.2%1Y
- Net profit
- ₹1,489 Cr+17.0%1Y
- Cash from operations
- ₹1,561 Cr
- Free cash flow
- ₹1,227 Cr+283.4%1Y
- Revenue CAGR, 5Y
- 14.5%
- EBITDA CAGR, 5Y
- 12.7%
- Net profit CAGR, 5Y
- 11.7%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹21,746 Cr | ₹2,192 Cr | — | ₹1,489 Cr | ₹1,561 Cr | ₹1,227 Cr | 17.9% | +17.2% | +17.0% |
Monthly returns
Month-by-month returns of HAVELLS across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹13,775 Cr |
| Equity capital | ₹63 Cr |
| Reserves | ₹8,268 Cr |
| Borrowings | ₹319 Cr |
| Other liabilities | ₹5,125 Cr |
| Assets | ₹13,775 Cr |
| Fixed assets | ₹4,627 Cr |
| Capital work in progress | ₹118 Cr |
| Investments | ₹74 Cr |
| Other assets | ₹8,956 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
HAVELLS trades at 60.9x earnings against a peer median of 55.4x.
Not shown (no positive earnings and no EV / Sales): SWIGGY LIMITED, Meesho Limited.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Havells India LimitedHAVELLSthis company | ₹89,811 Cr | 60.9x | 10.4x | 17.1% | 41.5x |
| Marico LimitedMARICO | ₹98,148 Cr | 52.3x | 19.4x | 30.0% | 63.5x |
| SWIGGY LIMITEDSWIGGY | ₹96,874 Cr | — | 7.3x | 28.7% | -63.9x |
| Indian Hotels Co. LtdINDHOTEL | ₹96,523 Cr | 64.6x | 8.4x | 10.8% | 53.3x |
| United Spirits LimitedUNITDSPR | ₹95,949 Cr | 55.4x | 11.9x | 18.8% | 46.6x |
| LG Electronics India LimitedLGEINDIA | ₹94,943 Cr | 46.2x | — | 40.1% | 38.6x |
| Lenskart Solutions LimitedLENSKART | ₹77,370 Cr | 599.0x | — | 2.4% | 158.4x |
| Meesho LimitedMEESHO | ₹74,358 Cr | — | — | -14.2% | -290.4x |
| FSN E-Commerce Ventures LimitedNYKAA | ₹72,865 Cr | 1134.0x | 42.6x | 7.9% | 661.0x |
| Peer median | — | 55.4x | 6.3x | 11.8% | 36.3x |
Year-to-date ROI
HAVELLS since 1 January, against earlier years.
Historical volatility
HAVELLS's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 15.0% |
| FY2022 | 13.0% |
| FY2023 | 10.0% |
| FY2024 | 10.0% |
| FY2025 | 10.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹21,746 Cr |
| Costs | |
| Interest | ₹72 Cr |
| Expenses | ₹19,554 Cr |
| Operating profitOperating Profit | ₹2,192 Cr |
| Other income and charges | |
| Profit before tax | ₹2,009 Cr |
| Tax | |
| Net profitNet Profit | ₹1,489 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹13,775 Cr |
| Equity capitalEquity Capital | ₹63 Cr |
| Reserves | ₹8,268 Cr |
| Borrowings | ₹319 Cr |
| Other liabilitiesOther Liabilities | ₹5,125 Cr |
| AssetsTotal Assets | ₹13,775 Cr |
| Fixed assetsFixed Assets | ₹4,627 Cr |
| Capital work in progressCWIP | ₹118 Cr |
| Investments | ₹74 Cr |
| Other assetsOther Assets | ₹8,956 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹1,561 Cr |
| Investing cash flowCash from Investing Activity | -₹334 Cr |
| Financing cash flowCash from Financing Activity | -₹688 Cr |
| Change in cashNet Cash Flow | ₹538 Cr |
Learn while you research
Academy chapters picked for Havells India Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 60.9, learn when high multiples are justified.6 min read
- 04 Cyclical vs Defensive StocksConsumer staples behave defensively across the business cycle.6 min read
- 05 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read
- 06 How to Read a Cash-Flow StatementProfit can be manipulated; cash flow rarely lies.7 min read