Havells India Limited (IN:HAVELLS)
:HAVELLS
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Havells India Limited
(HAVELLS)
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Rating:66Neutral
Price Target:
₹1,276.00
▼(-14.69% Downside)
Action:DowngradedDate:09/25/25
Havells India Limited has a strong financial foundation with solid revenue growth and profitability. However, technical indicators are mixed, and the stock appears overvalued based on its P/E ratio. The lack of earnings call data and corporate events limits additional insights.
Positive Factors
Revenue Growth
Sustained top-line expansion from ₹138.35bn to ₹217.78bn over three years signals durable demand across its multi-category electrical and consumer portfolio. Larger revenue base supports scale benefits in procurement, distribution and R&D, enabling reinvestment and margin leverage over the medium term.
Negative Factors
Free Cash Flow Volatility
Although free cash flow is positive overall, periodic dips and variability in investing and financing cash flows create uncertainty for consistent reinvestment, deleveraging or shareholder returns. This variability can constrain strategic initiatives and raises execution risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained top-line expansion from ₹138.35bn to ₹217.78bn over three years signals durable demand across its multi-category electrical and consumer portfolio. Larger revenue base supports scale benefits in procurement, distribution and R&D, enabling reinvestment and margin leverage over the medium term.
Read all positive factors
Havells India Limited (HAVELLS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹756.03B
Dividend Yield0.7%
Average Volume (3M)27.08K
Price to Earnings (P/E)74.2
Beta (1Y)1.07
Revenue Growth7.26%
EPS Growth3.66%
CountryIN
Employees7,153
SectorConsumer Defensive
Sector Strength42
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)4.60
Shares Outstanding627,256,840
10 Day Avg. Volume42,883
30 Day Avg. Volume27,084
Financial Highlights & Ratios
PEG Ratio4.04
Price to Book (P/B)11.30
Price to Sales (P/S)4.36
P/FCF Ratio125.57
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹1,490.00Price Target Upside-0.38% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)31.18
Revenue Forecast (FY)₹267.94B
Havells India Limited Business Overview & Revenue Model
Company Description
Havells India Limited, a fast-moving electrical goods company, manufactures, trades, and sells various consumer electrical and electronic products in India and internationally. It operates through six segments: Switchgears, Cables, Lighting and Fi...
How the Company Makes Money
Havells primarily makes money by selling electrical and consumer products across multiple categories under its brands (including Havells and Lloyd). Revenue is generated mainly from (1) consumer-focused retail sales—such as fans, lighting, switche...
Havells India Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
80
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 214.89B | 216.00B | 184.73B | 168.06B | 138.35B | 103.83B |
| Gross Profit | 59.90B | 64.61B | 54.67B | 47.14B | 40.79B | 35.97B |
| EBITDA | 24.31B | 24.34B | 20.92B | 17.77B | 19.21B | 17.59B |
| Net Income | 14.63B | 14.72B | 12.71B | 10.72B | 11.96B | 10.44B |
Balance Sheet | ||||||
| Total Assets | 136.47B | 138.09B | 124.33B | 111.57B | 105.23B | 88.52B |
| Cash, Cash Equivalents and Short-Term Investments | 14.62B | 33.58B | 30.23B | 20.49B | 26.99B | 19.56B |
| Total Debt | 2.86B | 3.19B | 3.03B | 2.23B | 6.16B | 6.23B |
| Total Liabilities | 49.60B | 54.68B | 49.86B | 45.32B | 45.20B | 36.76B |
| Stockholders Equity | 86.71B | 83.24B | 74.47B | 66.25B | 60.03B | 51.76B |
Cash Flow | ||||||
| Free Cash Flow | -10.75B | 7.49B | 13.10B | -228.60M | 14.70B | 4.08B |
| Operating Cash Flow | -3.79B | 15.15B | 20.96B | 5.65B | 17.28B | 6.58B |
| Investing Cash Flow | 5.75B | -3.02B | -17.65B | 350.40M | -7.59B | -7.63B |
| Financing Cash Flow | -3.82B | -6.69B | -5.26B | -9.07B | -5.47B | 1.90B |
Havells India Limited Technical Analysis
Negative
1495.70
Price Trends
1329.05
Negative
1380.26
Negative
1452.48
Negative
Market Momentum
-45.96
Positive
35.70
Neutral
20.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HAVELLS, the sentiment is Negative. The current price of 1495.7 is above the 20-day moving average (MA) of 1284.21, above the 50-day MA of 1329.05, and above the 200-day MA of 1452.48, indicating a bearish trend. The MACD of -45.96 indicates Positive momentum. The RSI at 35.70 is Neutral, neither overbought nor oversold. The STOCH value of 20.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HAVELLS.
Havells India Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹150.86B | 34.73 | ― | 0.49% | 17.36% | 52.81% | |
71 Outperform | ₹1.08T | 89.56 | ― | 0.20% | 25.63% | -26.61% | |
70 Outperform | ₹398.99B | 40.22 | ― | 0.57% | 21.16% | 8.27% | |
68 Neutral | ₹1.06T | 46.12 | ― | 0.46% | 22.25% | 36.99% | |
67 Neutral | ₹393.62B | 45.38 | ― | 0.09% | 22.68% | 20.52% | |
66 Neutral | ₹756.03B | 74.21 | ― | 0.70% | 7.26% | 3.66% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% |
* Consumer Defensive Sector Average
IN:HAVELLS
Havells India Limited
1,205.30
-242.09
-16.73%
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Havells India Limited Corporate Events
Havells Faces Rs 2.02 Crore Customs Demand, Plans to Appeal
Mar 20, 2026
Havells India Limited has disclosed that the Commissioner of Customs, ICD TKD-Import, New Delhi, has issued an order covering the period from May 2020 to July 2023, raising a demand of Rs 2.02 crore that includes customs duty of about Rs 1.01 cror...
Havells to Engage Investors at J.P. Morgan India Forum in Singapore
Mar 3, 2026
Havells India Limited has announced that it will participate in the J.P. Morgan India Forum on 9 March 2026 in Singapore, engaging in both group and one-on-one meetings with analysts and institutional investors. The company has clarified that no u...
Havells Publishes Interim Dividend Notice for FY 2025-26 in Newspapers
Jan 14, 2026
Havells India Limited has notified stock exchanges that it has published shareholder information on its interim dividend for FY 2025-26 in leading English and Hindi newspapers, complying with disclosure norms and ensuring wider investor communicat...
Havells Schedules Q3 FY26 Earnings Call for January 19
Jan 13, 2026
Havells India Limited has announced that its management team, including Chairman and Managing Director Anil Rai Gupta and senior executives, will host an earnings conference call on January 19, 2026, to discuss the company’s financial result...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.