Havells India vs Voltas: share price, P/E, ROE and financials compared
Havells India
Voltas
Havells India and Voltas at a glance
Havells India and Voltas are both listed in Consumer Durables. Havells India is the larger by market cap, at ₹70,789 Cr against ₹36,364 Cr for Voltas (1.9 times as large). On valuation, Havells India has the lower P/E (42.6× against 81.0×), while Voltas has the lower price-to-book (5.70× against 7.24×). On returns and margins, Havells India has the higher ROCE (22.1% against 9.3%), the higher ROE (18.0% against 5.8%) and the higher operating margin (9.1% against 4.9%). Over three years, Voltas has faster 3-year sales growth (+14.5% against +9.9% a year) and faster 3-year profit growth (+40.7% against +16.4% a year). Havells India carries less debt for its equity, with a debt-to-equity of 0.02× against 0.16×.
Key metrics, side by side
| Metric | Havells IndiaHAVELLS | VoltasVOLTAS |
|---|---|---|
| Price (₹) | 1,128.00 | 1,099.00 |
| Market cap (₹ Cr) | 70,789 | 36,364 |
| P/E | 42.6× (the lower figure, shaded) | 81.0× |
| P/B | 7.24× | 5.70× (the lower figure, shaded) |
| Dividend yield, trailing | 0.89% (the higher figure, shaded) | 0.36% |
| ROE | 18.0% (the higher figure, shaded) | 5.8% |
| ROCE | 22.1% (the higher figure, shaded) | 9.3% |
| Operating margin (OPM) | 9.1% (the higher figure, shaded) | 4.9% |
| Net margin (NPM) | 6.6% (the higher figure, shaded) | 3.0% |
| Sales CAGR 3Y | +9.9% | +14.5% (the higher figure, shaded) |
| Profit CAGR 3Y | +16.4% | +40.7% (the higher figure, shaded) |
| Debt to equity | 0.02× (the lower figure, shaded) | 0.16× |
| Interest cover | 60.5× (the higher figure, shaded) | 7.4× |
| Net profit TTM (₹ Cr) | 1,664 | 449 |
| 1Y return | −28.1% | −17.9% (the higher figure, shaded) |
| Promoter holding | 59.35% | 30.30% |
Havells India vs Voltas: common questions
Which is bigger, Havells India or Voltas?
By market cap, Havells India is bigger at ₹70,789 Cr, against ₹36,364 Cr for Voltas (prices as of 6 Nov 2026). Net profit over the last twelve months was ₹1,664 Cr for Havells India and ₹449 Cr for Voltas.
Which has a lower P/E ratio, Havells India or Voltas?
Havells India trades at a P/E of 42.6× and Voltas at 81.0×. Havells India has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, Havells India or Voltas?
Havells India reports a return on equity of 18.0% and Voltas 5.8%. Havells India has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, Havells India or Voltas?
Over the last three years: Sales grew +9.9% a year at Havells India and +14.5% at Voltas, so Voltas grew sales faster; profit grew +16.4% a year at Havells India and +40.7% at Voltas, so Voltas grew profit faster. Past growth doesn’t predict future growth.