HAVELLS

Havells India Limited

Electrical consumer durables and building products including Lloyd white goods

Consumer Discretionary›Consumer Durables›Consumer Durables›Consumer Electronics

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Key metrics

Price as of 2026-10-19

Stock price
₹1102.70
Market cap
69,158 Cr
Stock P/E
42.3
P/B
7.32
Dividend yield
0.9%
ROE (FY26)
17.9%
ROCE (FY26)
23.7%
Operating margin (FY26)
7.8%
OCF / EBITDA (FY26)
71.5%
OCF / EBITDA (3Y)
81.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Havells makes and sells electrical products for homes, offices and industry in India, including switchgear, cables and wires, lighting, fans, appliances and Lloyd-branded air conditioners and refrigerators, mainly through dealers.

Company snapshot

2ndBy market cap

Ranked among 11 companies in Consumer Electronics.

Segment mix

Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 34.6% of revenue

SegmentRevenue shareRevenuePBTAssets
Cables
34.6%
1,688 Cr187 Cr2,091 Cr
Electrical Consumer Durables
22.6%
1,104 Cr95 Cr1,330 Cr
Lighting & Fixtures
9.0%
441 Cr65 Cr678 Cr
Lloyd Consumer
15.2%
742 Cr-31 Cr4,073 Cr
Others
6.8%
331 Cr-7 Cr454 Cr
Switchgears
11.8%
577 Cr105 Cr799 Cr

What we see

Positives
  • ✓Interest coverage of 47.4x — earnings comfortably cover interest obligations.
1 more signal from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales3,900 Cr4,414 Cr5,442 Cr5,806 Cr4,539 Cr4,889 Cr6,544 Cr5,455 Cr4,779 Cr5,588 Cr6,705 Cr6,518 Cr
Operating expenses (approx.)3,527 Cr3,981 Cr4,807 Cr5,234 Cr4,164 Cr4,462 Cr5,787 Cr4,940 Cr4,341 Cr5,072 Cr5,976 Cr6,052 Cr
EBITDA373 Cr433 Cr635 Cr572 Cr375 Cr427 Cr757 Cr516 Cr438 Cr516 Cr729 Cr466 Cr
OPM %9.6%9.8%11.7%9.9%8.3%8.7%11.6%9.5%9.2%9.2%10.9%7.2%
Other income52 Cr56 Cr76 Cr77 Cr93 Cr64 Cr69 Cr69 Cr86 Cr43 Cr296 Cr54 Cr
Interest9 Cr10 Cr18 Cr9 Cr10 Cr9 Cr15 Cr9 Cr9 Cr9 Cr10 Cr7 Cr
Depreciation81 Cr88 Cr93 Cr92 Cr95 Cr104 Cr110 Cr106 Cr106 Cr109 Cr112 Cr121 Cr
Profit before tax335 Cr391 Cr599 Cr549 Cr363 Cr377 Cr701 Cr470 Cr415 Cr408 Cr918 Cr392 Cr
Tax %25.7%26.3%25.5%25.8%26.3%26.3%26.2%26.0%23.2%26.4%21.2%26.1%
Net profit249 Cr288 Cr447 Cr408 Cr268 Cr278 Cr517 Cr348 Cr318 Cr300 Cr723 Cr290 Cr
EPS (₹)₹3.97₹4.59₹7.13₹6.49₹4.28₹4.43₹8.26₹5.55₹5.09₹4.80₹11.52₹4.63

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales6,613 Cr8,269 Cr10,073 Cr9,440 Cr10,457 Cr13,938 Cr16,911 Cr18,590 Cr21,778 Cr22,528 CrSign in free for the trailing twelve months
Operating expenses (approx.)5,795 Cr7,226 Cr8,889 Cr8,412 Cr8,886 Cr12,178 Cr15,312 Cr16,747 Cr19,647 Cr20,328 CrSign in free for the trailing twelve months
EBITDA818 Cr1,043 Cr1,184 Cr1,029 Cr1,572 Cr1,760 Cr1,599 Cr1,843 Cr2,131 Cr2,200 CrSign in free for the trailing twelve months
OPM %12.4%12.6%11.8%10.9%15.0%12.6%9.5%9.9%9.8%9.8%Sign in free for the trailing twelve months
Other income138 Cr118 Cr129 Cr113 Cr187 Cr160 Cr178 Cr249 Cr303 Cr494 CrSign in free for the trailing twelve months
Interest13 Cr25 Cr16 Cr20 Cr73 Cr53 Cr34 Cr46 Cr43 Cr37 CrSign in free for the trailing twelve months
Depreciation121 Cr140 Cr153 Cr218 Cr249 Cr261 Cr296 Cr339 Cr400 Cr432 CrSign in free for the trailing twelve months
Profit before tax711 Cr965 Cr1,144 Cr904 Cr1,438 Cr1,607 Cr1,447 Cr1,707 Cr1,990 Cr2,210 CrSign in free for the trailing twelve months
Tax %32.2%31.5%31.3%18.7%27.4%25.5%25.9%25.6%26.1%23.5%Sign in free for the trailing twelve months
Net profit494 Cr661 Cr786 Cr735 Cr1,044 Cr1,196 Cr1,072 Cr1,271 Cr1,470 Cr1,689 CrSign in free for the trailing twelve months
EPS (₹)₹7.91₹10.57₹12.56₹11.76₹16.68₹19.11₹17.11₹20.28₹23.49₹26.95Sign in free for the trailing twelve months
Dividend payout %————18.0%34.0%43.9%37.0%42.6%37.1%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital62 Cr63 Cr63 Cr63 Cr63 Cr63 Cr63 Cr63 Cr63 Cr63 Cr
Reserves3,214 Cr3,667 Cr4,155 Cr4,249 Cr5,114 Cr5,940 Cr6,563 Cr7,384 Cr8,261 Cr9,393 Cr
Borrowings208 Cr115 Cr41 Cr—394 Cr396 Cr————
Other liabilities1,675 Cr2,755 Cr2,914 Cr2,762 Cr3,282 Cr4,125 Cr4,532 Cr4,986 Cr5,468 Cr5,278 Cr
Total liabilities5,169 Cr6,608 Cr7,172 Cr7,073 Cr8,852 Cr10,523 Cr11,157 Cr12,433 Cr13,809 Cr14,746 Cr
Fixed assets (net)1,199 Cr1,254 Cr1,434 Cr1,900 Cr1,861 Cr2,021 Cr2,228 Cr2,606 Cr3,252 Cr3,813 Cr
CWIP12 Cr24 Cr232 Cr83 Cr86 Cr57 Cr163 Cr297 Cr116 Cr439 Cr
Investments162 Cr—0 Cr0 Cr306 Cr426 Cr201 Cr20 Cr11 Cr0 Cr
Inventories945 Cr1,633 Cr1,919 Cr1,872 Cr2,620 Cr2,968 Cr3,709 Cr3,409 Cr4,047 Cr4,441 Cr
Trade receivables231 Cr328 Cr407 Cr242 Cr564 Cr766 Cr974 Cr1,165 Cr1,258 Cr790 Cr
Cash & bank592 Cr336 Cr705 Cr268 Cr355 Cr776 Cr465 Cr266 Cr807 Cr791 Cr
Other assets2,029 Cr3,032 Cr2,476 Cr2,710 Cr3,061 Cr3,509 Cr3,418 Cr4,670 Cr4,317 Cr4,473 Cr
Total assets5,169 Cr6,608 Cr7,172 Cr7,073 Cr8,852 Cr10,523 Cr11,157 Cr12,433 Cr13,809 Cr14,746 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity767 Cr1,100 Cr501 Cr827 Cr660 Cr1,728 Cr565 Cr1,953 Cr1,515 Cr1,572 Cr
Cash from investing-216 Cr-944 Cr188 Cr-548 Cr-763 Cr-759 Cr35 Cr-1,614 Cr-302 Cr-893 Cr
Cash from financing-98 Cr-409 Cr-318 Cr-716 Cr190 Cr-547 Cr-907 Cr-534 Cr-669 Cr-693 Cr
Net cash flow454 Cr-253 Cr372 Cr-437 Cr87 Cr421 Cr-311 Cr-199 Cr541 Cr-17 Cr
Free cash flow (OCF − Capex)525 Cr-497 Cr-0.20 Cr466 Cr410 Cr1,470 Cr-23 Cr1,167 Cr749 Cr88 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %20.7%25.7%27.2%21.4%27.1%25.9%22.3%23.5%24.4%23.7%
ROE %15.1%17.7%18.6%17.1%20.2%19.9%16.2%17.1%17.7%17.9%
Debtor days1314159202021232113
Inventory days103164154156177139145126123131
Days payable691651251181081111031009286
Cash conversion cycle47144448894863495158
OCF / EBITDA %93.8%105.4%42.3%80.4%42.0%98.1%35.3%106.0%71.1%71.5%
OCF / EBITDA % (3 years)——77.8%74.6%52.5%73.7%59.9%81.6%72.4%81.6%
Debt / equity0.060.030.0096—0.080.07————
Current ratio2.051.461.511.491.921.821.841.841.861.71
Net debt / EBITDA-0.47—-0.56-0.260.02-0.22-0.29-0.14-0.38-0.36
Havells India Limited (HAVELLS) Financials | BullKarma