Havells India

₹1527.8 -1.5 | 0.1%

WEBSITE BSE:517354 NSE : HAVELLSINDIA 11 Jul, 15:59

Market Cap ₹95825 Cr.

Stock P/E 65.2

P/B 11.5

Current Price ₹1527.8

Book Value ₹ 132.4

Face Value 1

52W High ₹2105

Dividend Yield 0.65%

52W Low ₹ 1360.1

Edit Ratio

Havells India Research see more...

Overview Inc. Year: 1983Industry: Electric Equipment

Havells India Ltd is an electrical consumer goods company. The Company is engaged in production and dispensing equipment for domestic, business, and industrial programs. The Company operates thru segments inclusive of Cable, Switchgears, Electric Consumer Durables, Lighting & Fixtures, and Lloyd Consumer. Its merchandise range from commercial and domestic circuit protection switch gears, cables, pumps, solar products, enthusiasts, led lamps and luminaires for domestic, commercial, and business applications, modular switches, water heaters, coolers, and home equipment, air cleaner, water cleanser, air conditioner, tv, washing gadget and refrigerator masking the whole variety of household, industrial and business electrical requirements. The Company's manufacturing centers are at faridabad in haryana, alwar, ghiloth and neemrana in Rajasthan, Haridwar in Uttarakhand, Sahibabad in Uttar Pradesh, Baddi in Himachal Pradesh.

Havells India Share Price

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Peer Comparison

Havells India Quarterly Results

#(Fig in Cr.)	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Net Sales	4128	4859	4834	3900	4414	5442	5806	4539	4889	6544
Other Income	40	47	65	52	56	76	77	93	64	69
Total Income	4167	4906	4899	3953	4470	5518	5884	4632	4953	6612
Total Expenditure	3704	4332	4432	3527	3981	4807	5234	4164	4462	5787
Operating Profit	463	574	467	426	489	710	650	468	491	826
Interest	7	10	8	9	10	18	9	10	9	15
Depreciation	75	77	76	81	88	93	92	95	104	110
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	381	487	382	335	391	599	549	363	377	701
Provision for Tax	98	129	95	86	103	153	141	95	99	184
Profit After Tax	284	358	287	249	288	447	408	268	278	517
Adjustments	0	0	0	0	0	0	0	0	0	1
Profit After Adjustments	284	358	287	249	288	447	408	268	278	518
Adjusted Earnings Per Share	4.5	5.7	4.6	4	4.6	7.1	6.5	4.3	4.4	8.3

Havells India Profit & Loss

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Net Sales	8569	7613	6156	8146	10073	9440	10457	13938	16911	18590	21778	21778
Other Income	50	87	138	118	129	113	187	160	178	249	303	303
Total Income	8620	7699	6294	8264	10202	9554	10645	14099	17088	18839	22081	22081
Total Expenditure	7816	6818	5309	7074	8850	8380	8868	12165	15290	16709	19618	19647
Operating Profit	803	881	985	1190	1352	1174	1777	1934	1798	2130	2463	2435
Interest	96	91	42	54	55	51	90	67	55	84	72	43
Depreciation	139	134	121	140	149	218	249	261	296	339	400	401
Exceptional Income / Expenses	0	862	-107	-19	0	0	0	0	0	0	0	0
Profit Before Tax	569	1520	711	977	1147	904	1438	1607	1447	1707	1990	1990
Provision for Tax	184	219	229	304	359	169	393	410	375	437	520	519
Profit After Tax	385	1300	482	673	788	736	1044	1196	1072	1271	1470	1471
Adjustments	0	-0	12	-11	-0	-0	0	0	0	0	2	1
Profit After Adjustments	385	1300	495	662	788	735	1044	1196	1072	1271	1472	1472
Adjusted Earnings Per Share	6.2	20.8	7.9	10.6	12.6	11.8	16.7	19.1	17.1	20.3	23.5	23.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	17%	16%	18%	10%
Operating Profit CAGR	16%	8%	16%	12%
PAT CAGR	16%	7%	15%	14%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-20%	8%	21%	18%
ROE Average	19%	18%	19%	22%
ROCE Average	26%	25%	27%	29%

Havells India Balance Sheet

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Shareholder's Funds	1818	3028	3277	3729	4198	4312	5176	6003	6625	7447	8324
Minority's Interest	0	15	9	8	0	0	0	0	0	0	17
Borrowings	226	2	0	81	41	0	394	273	0	0	0
Other Non-Current Liabilities	412	106	131	260	371	435	505	615	696	703	694
Total Current Liabilities	2317	1237	1575	2530	2540	2327	3054	3980	4170	4637	5218
Total Liabilities	4774	4387	5168	6608	7148	7073	9129	10870	11492	12787	14253
Fixed Assets	1541	1224	1244	2765	2904	3350	3290	3434	3621	3988	4652
Other Non-Current Assets	272	257	332	136	400	243	241	483	471	545	287
Total Current Assets	2961	2634	3234	3690	3826	3461	5597	6953	7390	8251	9310
Total Assets	4774	4387	5168	6608	7148	7073	9129	10870	11492	12787	14253

Havells India Cash Flow

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Opening Cash & Cash Equivalents	655	371	142	592	336	705	268	355	776	465	266
Cash Flow from Operating Activities	963	513	767	1100	501	827	660	1728	565	1953	1515
Cash Flow from Investing Activities	-486	35	-216	-944	188	-548	-763	-759	35	-1614	-302
Cash Flow from Financing Activities	-754	-621	-98	-409	-318	-716	190	-547	-907	-534	-669
Net Cash Inflow / Outflow	-278	-73	454	-253	372	-437	87	422	-307	-195	545
Closing Cash & Cash Equivalent	379	142	592	336	705	268	355	776	465	266	807

Havells India Ratios

#	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Earnings Per Share (Rs)	6.17	20.82	7.91	10.6	12.59	11.75	16.68	19.1	17.11	20.28	23.48
CEPS(Rs)	8.39	22.97	9.64	13.02	14.99	15.24	20.66	23.27	21.83	25.68	29.84
DPS(Rs)	3	6	3.5	4	4.5	4	6.5	7.5	7.5	9	10
Book NAV/Share(Rs)	29.12	48.47	52.44	59.66	67.1	68.89	82.68	95.84	105.72	118.72	132.51
Core EBITDA Margin(%)	7.99	9.92	12.8	12.87	12.06	11.15	15.09	12.65	9.52	10.06	9.87
EBIT Margin(%)	7.05	20.1	11.38	12.38	11.86	10.05	14.5	11.93	8.83	9.58	9.42
Pre Tax Margin(%)	6.04	18.96	10.75	11.73	11.31	9.51	13.65	11.45	8.5	9.13	9.09
PAT Margin (%)	4.09	16.23	7.29	8.09	7.77	7.74	9.92	8.53	6.3	6.8	6.72
Cash Profit Margin (%)	5.56	17.9	9.11	9.77	9.24	10.03	12.28	10.39	8.04	8.61	8.54
ROA(%)	7.63	28.39	10.09	11.44	11.46	10.34	12.89	11.97	9.59	10.47	10.87
ROE(%)	22.12	53.67	15.3	19.23	19.88	17.29	22.02	21.41	16.98	18.07	18.67
ROCE(%)	26.8	59.62	22.65	28.13	29.56	22.11	30.49	27.74	23.07	25.46	26.16
Receivable days	31.43	19.56	12.87	12.23	13.21	12.44	13.96	17.31	18.66	20.88	20.2
Inventory Days	55.36	50.11	49.11	56.49	63.92	72.77	77.83	72.71	71.59	69.47	62.15
Payable days	71.53	57.74	59.24	75.83	78.83	74.5	76.44	79.64	80.9	79.95	73.91
PER(x)	49.44	15.48	59.16	46.03	61.23	40.84	62.93	60.4	69.47	74.71	65.05
Price/Book(x)	10.48	6.65	8.93	8.18	11.49	6.97	12.7	12.04	11.24	12.76	11.53
Dividend Yield(%)	0.98	1.86	0.75	0.82	0.58	0.83	0.62	0.65	0.63	0.59	0.65
EV/Net Sales(x)	2.18	2.47	4.47	3.57	4.67	3.07	6.17	5.03	4.29	4.94	4.24
EV/Core EBITDA(x)	23.27	21.33	27.91	24.4	34.77	24.65	36.34	36.25	40.36	43.14	37.51
Net Sales Growth(%)	4.69	-11.17	-19.14	32.34	23.65	-6.29	10.77	33.29	21.32	9.93	17.15
EBIT Growth(%)	-4.56	142.28	-53.26	36.95	16.64	-20.53	59.84	9.55	-10.24	19.27	15.12
PAT Growth(%)	-13.65	237.41	-62.92	39.68	17	-6.64	41.97	14.57	-10.43	18.57	15.7
EPS Growth(%)	-13.72	237.22	-61.98	33.89	18.83	-6.68	41.97	14.52	-10.45	18.53	15.82
Debt/Equity(x)	0.23	0.04	0.06	0.03	0.02	0.01	0.09	0.07	0	0	0
Current Ratio(x)	1.28	2.13	2.05	1.46	1.51	1.49	1.83	1.75	1.77	1.78	1.78
Quick Ratio(x)	0.69	1.46	1.45	0.81	0.75	0.68	0.97	1	0.88	1.04	1.01
Interest Cover(x)	6.94	17.7	17.96	19.19	21.76	18.61	16.96	25.01	27.28	21.28	28.64
Total Debt/Mcap(x)	0.02	0.01	0.01	0	0	0	0.01	0.01	0	0	0

Havells India Shareholding Pattern

#	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
Promoter	59.45	59.43	59.43	59.43	59.43	59.41	59.41	59.41	59.41	59.38
FII	23.11	23.78	24.19	23.96	24.83	25.33	24.76	23.46	22.31	21.59
DII	10.37	9.79	9.48	10.11	9.88	9.55	10.24	11.56	12.76	13.36
Public	7.07	6.99	6.9	6.5	5.85	5.71	5.59	5.57	5.52	5.67
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
Promoter	37.25	37.25	37.25	37.25	37.25	37.25	37.25	37.25	37.25	37.25
FII	14.48	14.9	15.16	15.01	15.56	15.88	15.52	14.71	13.99	13.54
DII	6.5	6.14	5.94	6.34	6.19	5.99	6.42	7.25	8	8.38
Public	4.43	4.38	4.32	4.07	3.67	3.58	3.51	3.49	3.46	3.56
Others	0	0	0	0	0	0	0	0	0	0
Total	62.65	62.67	62.67	62.67	62.67	62.69	62.69	62.69	62.69	62.72

Pros

Debtor days have improved from 79.95 to 73.91days.
Company is almost debt free.

Cons

Stock is trading at 11.5 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.