Havells India Limited
NSE: HAVELLS · Consumer Electronics · sector
₹1,009.90NSE close 2026-10-26
Key numbers
Market cap₹63,381 cr
Price₹1,009.90
52w high / low₹1,517 / ₹1,010
P/E38.1xSector median 14.6x
P/B6.5xSector median 2.4x
Book value₹155.7
Dividend yield0.99%Sector median 0.17%
ROE18.0%Sector median 13.9%
ROCE22.5%Sector median 12.0%
OPM8.9%Sector median 6.8%
Debt / equity0.00xSector median 0.13x
EV/EBITDA27.8xSector median 12.2x
Interest cover70.8x
Current ratio1.72x
Sales growth 3y+10.0%Sector median +16.4%
Profit growth 3y+16.4%Sector median +36.4%
PEG2.33x
Last 12 months to Sep 2026, Consolidated. "Sector median" = middle value of 14 companies in Consumer Electronics (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹2,364 cr vs borrowings ₹0 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 70.8x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 2 of the last 5 years (FY26, FY23).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 26% of net profit in the last 12 months.
- Debtor days went from 23 (FY24) to 13 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹1,009.90 on 2026-10-26: -33.4% from the 52-week high, 0.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹2,082.40 · low ₹1,009.90
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,889 | 6,544 | 5,455 | 4,779 | 5,588 | 6,705 | 6,518 | 6,432 |
| EBITDA | 426 | 757 | 516 | 438 | 471 | 729 | 466 | 573 |
| OPM % | 8.7% | 11.6% | 9.5% | 9.2% | 8.4% | 10.9% | 7.2% | 8.9% |
| Other income | 64 | 69 | 69 | 86 | 43 | 296 | 54 | 33 |
| Net profit | 278 | 518 | 348 | 319 | 301 | 723 | 290 | 350 |
| EPS (₹) | 4.43 | 8.26 | 5.55 | 5.09 | 4.80 | 11.52 | 4.63 | 5.57 |
| Revenue YoY | +14.3% | +2.5% | +19.5% | +34.6% | ||||
| Profit YoY | +8.1% | +39.6% | -16.5% | +9.6% |
Consolidated figures where filed. Latest quarter Sep 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 13,938 | 16,911 | 18,590 | 21,778 | 22,528 | 25,243 |
| EBITDA | 1,760 | 1,599 | 1,843 | 2,131 | 2,155 | 2,240 |
| Net profit | 1,196 | 1,072 | 1,266 | 1,472 | 1,691 | 1,664 |
| EPS (₹) | 19.11 | 17.11 | 20.28 | 23.49 | 26.95 | 26.52 |
| Revenue growth | +21.3% | +9.9% | +17.1% | +3.4% | +16.5% | |
| Profit growth | -10.4% | +18.1% | +16.3% | +14.8% | +13.7% | |
| Dividend / share (₹) | 6.50 | 7.50 | 7.50 | 10.00 | 10.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +10.0% | +16.6% | +16.5% |
| Net profit | +16.4% | +10.1% | +13.7% |
| EPS | +16.4% | +10.1% | – |
| Share price | – | -23.1% (2y) | -27.8% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 6,625 | 7,447 | 8,324 | 9,455 |
| Borrowings | – | 0 | 0 | 0 | 0 |
| Cash & equivalents | – | 2,051 | 3,038 | 3,378 | 2,364 |
| Total assets | – | 11,157 | 12,433 | 13,809 | 14,746 |
| Fixed assets | – | 2,228 | 2,606 | 3,252 | 3,813 |
| Capital work in progress | – | 163 | 297 | 116 | 439 |
| Investments | – | 20 | 20 | 11 | 0 |
| Receivables | – | 974 | 1,165 | 1,258 | 790 |
| Inventory | – | 3,709 | 3,409 | 4,047 | 4,441 |
| Payables | – | 2,643 | 2,692 | 3,047 | 2,908 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 1,728 | 565 | 1,953 | 1,515 | 1,572 |
| Cash from investing | -759 | 35 | -1,614 | -302 | -893 |
| Cash from financing | -547 | -907 | -534 | -669 | -693 |
| Capex | 258 | 588 | 786 | 766 | 1,484 |
| Free cash flow | 1,470 | -23 | 1,167 | 749 | 88 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 16.2% | 17.0% | 17.7% | 17.9% |
| ROCE % | – | 22.3% | 23.5% | 24.4% | 23.4% |
| Debtor days | – | 21 | 23 | 21 | 13 |
| Inventory days | – | 116 | 99 | 101 | 107 |
| Payable days | – | 82 | 78 | 76 | 70 |
| Cash conversion cycle (days) | – | 55 | 44 | 46 | 50 |
| Working capital days | – | 70 | 71 | 69 | 52 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 59.35% |
| FIIs | 14.47% |
| DIIs | 19.86% |
| of which Mutual funds | 9.46% |
| of which Insurance | 9.39% |
| Government | 0.00% |
| Public (non-institutions) | 6.32% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 59.41% | 59.41% | 59.38% | 59.38% | 59.38% | 59.38% | 59.35% | 59.35% |
| Promoter group | % |
|---|---|
| QRG Investments and Holdings Limited | 41.21% |
| Shri Anil Rai Gupta as Trustee of ARG Family Trust | 12.34% |
| Shri Surjit Kumar Gupta as Trustee of SKG Family Trust | 5.81% |
| Smt Vinod Gupta | 0.00% |
| Shri Anil Rai Gupta | 0.00% |
| Smt Sangeeta Rai Gupta | 0.00% |
| Shri Abhinav Rai Gupta | 0.00% |
| Shri Surjit Kumar Gupta | 0.00% |
| Shri Ameet Kumar Gupta | 0.00% |
| Smt Santosh Gupta | 0.00% |
| Smt Shalini Gupta | 0.00% |
| Shri Aditya Gupta | 0.00% |
| QRG Enterprises Limited | 0.00% |
| Public holders above 1% | % |
|---|---|
| Lici NEW Pension Plus Balanced Fund | 7.63% |
| HDFC Mutual Fund - HDFC BSE 500 Index Fund | 4.95% |
| Nalanda India Equity Fund Limited | 4.07% |
| SBI BSE Sensex Next 50 ETF | 1.19% |
| Government Pension Fund Global | 1.09% |
3,00,849 shareholders. Pledged: 0.00% of promoter shares.
Peers in Consumer Electronics
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| DIXON | ₹68,194 cr | 32.5x | 14.6x | 48.8% | 52.1% | 3.6% | +58.9% | 0.17% |
| HAVELLS | ₹63,381 cr | 38.1x | 6.5x | 18.0% | 22.5% | 8.9% | +10.0% | 0.99% |
| PGEL | ₹13,565 cr | 65.9x | 4.5x | 7.0% | 10.0% | 7.1% | +34.8% | 0.05% |
| IKIO | ₹1,266 cr | 25.9x | 2.1x | 8.0% | 11.4% | 13.7% | +18.4% | 0.00% |
| ONIDA | ₹930 cr | – | 3.9x | -42.0% | -19.3% | -9.4% | -15.9% | – |
| SMAART | ₹348 cr | 14.1x | – | – | – | – | – | – |
| VETO | ₹231 cr | 8.4x | 0.8x | 9.8% | 12.5% | 9.9% | +9.9% | 0.83% |
| BPL | ₹190 cr | – | 0.8x | -6.0% | -3.4% | -13.7% | +14.4% | – |
| NANTA | ₹119 cr | 14.6x | 2.7x | 18.2% | 24.8% | 16.4% | – | – |
| CWD | ₹115 cr | 51.5x | 1.4x | 19.8% | 29.2% | 15.4% | +84.1% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Cables | ₹8,677 cr | 38.5% | ₹1,138 cr | 13.1% |
| Lloyd Consumer | ₹3,974 cr | 17.6% | ₹-214 cr | -5.4% |
| Electrical Consumer Durables | ₹3,876 cr | 17.2% | ₹343 cr | 8.8% |
| Switchgears | ₹2,586 cr | 11.5% | ₹589 cr | 22.8% |
| Others | ₹1,727 cr | 7.7% | ₹61 cr | 3.5% |
| Lighting & Fixtures | ₹1,688 cr | 7.5% | ₹244 cr | 14.4% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-05-22 | Dividend | Dividend - Rs 6 Per Share |
| 2026-01-23 | Dividend | Interim Dividend - Rs 4 Per Share |
| 2025-05-23 | Dividend | Annual General Meeting/Dividend - Rs 6 Per Share |
| 2025-01-22 | Dividend | Interim Dividend - Rs 4 Per Share |
| 2024-05-31 | Dividend | Annual General Meeting/Dividend - Rs 6 Per Share |
| 2024-02-01 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2023-06-02 | Dividend | Annual General Meeting/Dividend - Rs 4.50 Per Share |
| 2023-01-25 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2022-06-14 | Dividend | Annual General Meeting/Dividend - Rs 4.50 Per Share |
| 2021-10-27 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2021-06-17 | Dividend | Annual General Meeting/Dividend - Rs 3.50 Per Share |
| 2021-01-28 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2020-03-16 | Dividend | Interim Dividend - Rs 4 Per Share |
| 2019-07-18 | Dividend | Annual General Meeting/Dividend - Rs 4.50 Per Share |
| 2018-07-04 | Dividend | Annual General Meeting/Dividend- Rs 4 Per Share |
| 2017-06-21 | Dividend | Annual General Meeting/Dividend - Rs 3.50 Per Share |
| 2016-06-29 | Dividend | Annual General Meeting/ Dividend -Rs 3/- Per Share |
| 2016-02-10 | Dividend | Special Dividend - Rs 3/- Per Share (Purpose Revised) |
| 2015-06-29 | Dividend | Annaul General Meeting/Dividend - Rs 3/- Per Share |
| 2014-08-26 | Split | Face Value Split From Rs 5/- Per Share To Re 1/- Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Switchgears: Switches, Domestic Switchgears, Industrial Switchgears, Capacitors, Automation and Control and EVSE
- Cables: Power Cable and Flexible Cables
- Lighting and Fixture: Professional Luminaires and Consumer Luminaires
- Electrical Consumer Durables: Fans, Small Domestic Appliances and Water Heaters
- Lloyd Consumer: Air Conditioners, Refrigerator, Washing Machine Televisions, and other Domestic Appliances
- Others: Motors, Solar, Pump, Water Purifiers and Personal Grooming Products
| Sector | Consumer Discretionary |
| Industry | Consumer Electronics |
| Sub-industry | Consumer Electronics |
| Symbol | HAVELLS |
| BSE code | 517354 |
| ISIN | INE176B01034 |
| Face value | ₹1.0 |
| Incorporated | 1983-08-08 |
| Website | www.havells.com |
| Plants (India / abroad) | 17 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.