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As of 6 Nov 2026, Havells India trades at 42.6× trailing earnings, above the industry P/E of 30.0×, and the shares are 26% below their 52-week high. Sales and net profit grew 9.9% and 16% a year over 3 years, with ROCE of 22% and ROE of 18%. It carries very little debt, and its dividend yield is 1.1%. It is a mid-cap company with a market cap of ₹70,789 Cr, ranked 4th of 97 Electrical Equipment & Parts companies by market cap; the shares fell 28% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹1,068.70
Day high
₹1,129.80
Day low
₹1,048.20
Prev. close
₹1,068.10
Volume
26.4 L

Health check

1 good · 2 fair · 3 to check
  • ReturnsBehind

    −28.1% over a year, better than 0 of 7 peers.

  • Price tagPricier

    P/E 42.6 vs industry 30.0.

  • GrowthSlow

    Sales +9.9%, profit +16.4% a year over 3 years.

  • ProfitabilityAverage

    ROCE 22.1% vs peer median 24.8%.

  • Balance sheetFair

    Practically debt-free, Piotroski 5 of 9.

  • Red flagsNone found

    No warning signs in the headline numbers.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Electrical Equipment & Parts

96 listed peers. Screen the industry

Mid cap

₹70,789 Cr, #4 of 97 in its industry by size.

Defensive

Beta 0.35 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹25,243 Cr · profit ₹1,664 Cr
Market cap
₹70,789 Cr
Mid cap
P/E
42.6
Industry 30.0
Price to book
7.24
Peers 9.06
Dividend yield
1.06%
ROE
18.0%
Peers 20.6%
ROCE
22.1%
Peers 24.8%
Debt to equity
0.02
Debt ₹239 Cr
EPS (TTM)
₹26.50
Face value ₹1
OPM (TTM)
9.1%
Net margin 6.6%
Sales growth
+34.6%
Latest quarter vs a year ago
Profit growth
+9.6%
Latest quarter vs a year ago
Price to sales
2.80
EV/EBITDA 31.7

Strengths and risks

Strengths

  • Return on capital employed of 22.1%.
  • Practically debt-free.
  • Quarterly sales up 34.6% on a year ago.
  • Positive operating cash flow in each of the last 4 years.

No obvious red flags in the headline numbers.

Derived automatically from reported figures. Not a recommendation.

About Havells India

Havells India Limited, a fast-moving electrical and electronic durables company, manufactures, trades in, and sells various consumer electrical and electronic products in India and internationally. The company operates through six segments: Switchgears, Cables, Lighting and Fixtures, Electrical Consumer Durables, Lloyd Consumer, and Others. It offers switches; switchgears, such as circuit breakers, energy savers, human safety equipment, distribution…

Headquarters
Noida
Employees
7,598
Sector
Industrials
ISIN
INE176B01034
Website
havells.com

Price range

52 weeks

₹999.20₹1,514.70

Today

₹1,048.20₹1,129.80
Avg volume (3M)
8.6 L
1-year return
minus 28.1%
From 52-week high
minus 25.5%

Analyst consensus

35 analysts
BuyMean target ₹1,290.14 plus 14.4%

Target range, with today’s price

Low ₹900.00High ₹1,600.00

Consensus from Yahoo Finance. Not a recommendation.

Peers · Electrical Equipment & Parts

Compare with peersScreen the whole industry
Company
POWERINDIAHitachi Energy India27,800.00minus 1.42%1,23,911107.723.9424.9%21.0%16.1%22.2%119.1%0.03%plus 37.9%
CGPOWERCG Power and Industrial Solutions773.00minus 4.43%1,21,78588.613.9119.3%16.4%13.1%21.2%7.8%0.17%plus 8.2%
POLYCABPolycab India7,871.00plus 0.28%1,18,61337.59.0630.4%26.8%13.6%26.6%28.1%0.60%plus 3.8%
HAVELLSHavells India1,128.00plus 5.61%70,78942.67.2422.1%18.0%9.1%9.9%16.4%1.06%minus 28.1%
APARINDSApar Industries14,106.00minus 9.65%59,06541.66.9326.7%20.6%9.5%17.0%15.3%0.43%plus 87.2%
KEIKEI Industries3,988.00minus 1.80%38,14336.15.7218.7%14.8%11.0%19.1%24.4%0.11%plus 1.8%
HONAUTHoneywell Automation India30,080.00minus 0.79%26,61347.05.7015.7%12.8%13.8%10.9%6.2%0.37%minus 17.5%
SCHNEIDERSchneider Electric Infrastructure1,063.40minus 6.37%25,426157.836.8524.8%31.8%11.5%17.6%19.8%0.00%plus 27.6%
Median of 7 peers–−1.80%59,06547.09.0624.8%20.6%13.1%19.1%19.8%0.17%8.2%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Dec 25Mar 26Jun 26Sep 26
5,4555,5886,7056,5186,432
4,9365,0695,9796,0515,859
519518726467573
9.5%9.3%10.8%7.2%8.9%
69.254.131054.232.6
9.48.99.97.54.8
106109112121129
−3.6−47.43.1−1.20.8
470408918392473
26.0%26.4%21.2%26.1%26.1%
348301723290350
5.544.7911.524.625.57

Sep 25 not reported by the data source.

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+9.9%
Profit CAGR 3Y
+16.4%
EPS CAGR 3Y
+16.3%
ROE
18.0%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
16,80618,47321,60022,288
–+9.9%+16.9%+3.2%
15,16416,56619,37719,995
1,6421,9082,2232,293
9.8%10.3%10.3%10.3%
154191252185
33.445.643.137.1
296339400432
−18.5−7.4−41.3200
1,4471,7071,9902,210
25.9%25.6%26.1%23.5%
1,0721,2711,4721,691
–+18.6%+15.9%+14.8%
17.1120.2823.4826.94

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
62.762.762.762.7
6,5637,3848,2619,393
223303319265
4,3094,6835,1675,026
11,15712,43313,80914,746
2,4393,0293,4464,391
211423194578
1352011883
2,0493,0223,3582,340
6,3235,9386,8016,554
11,15712,43313,80914,746

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
5651,9531,5231,572
35−1,614−302−893
−907−534−677−693
−307−195545−14.4
−588−786−766−1,484
−22.91,16775787.5
−470−470−627−627

Shareholding pattern

Source: NSE filings
59.4%
promoters
  • Promoters59.35%
  • Public40.65%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202659.35%40.65%0.00
30 Jun 202659.35%40.65%minus 0.03
31 Mar 202659.38%40.62%0.00
31 Dec 202559.38%40.62%0.00
30 Sep 202559.38%40.62%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you