Havells India Ltd.

NSE: HAVELLS · Consumer Electronics

52W Range₹1,081 ₹1,600

Snapshot

Unlock Havells India Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Havells India Limited is a leading fast-moving electrical goods company that manufactures and sells a diverse range of consumer electrical and electronic products. Its portfolio spans switchgears, cables, lighting, electrical consumer durables, and the Lloyd brand of home appliances.

Business Model

The company generates revenue through the manufacturing, trading, and distribution of electrical products across multiple brands including Havells, Lloyd, Crabtree, Standard, and REO. It operates a robust distribution network serving both domestic Indian markets and international customers in approximately 60 countries.

Growth Outlook

Growth is driven by the expansion of the Lloyd consumer appliance portfolio and the continued demand for energy-efficient electrical infrastructure. The company is also focusing on leveraging its strong brand presence to penetrate deeper into the domestic market and expand its international export footprint.

Key Risks

  • Input Cost Volatility. Fluctuations in the prices of raw materials like copper, aluminium, and steel can significantly impact manufacturing margins.
  • Intense Market Competition. The consumer electrical and appliance sector faces stiff competition from both established domestic players and low-cost international imports.
  • Economic Cyclicality. Demand for consumer durables and electrical infrastructure is highly sensitive to overall economic growth and real estate sector performance.
  • Supply Chain Disruptions. Reliance on global supply chains for electronic components and specialized materials poses risks to production timelines and inventory management.

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Key Metrics

REVENUE

₹23,591 Cr

TTM · consolidated

+10.1%YoY

NET PROFIT

₹1,631 Cr

TTM · consolidated

+15.7%YoY

EPS

₹26.04

TTM · consolidated

+15.6%YoY

RETURN ON EQUITY

18.4%

TTM · consolidated

+1.5 ppYoY

RETURN ON CAPITAL EMPLOYED

22.3%

TTM · consolidated

+0.7 ppYoY

P/E

44.3x

Q1 FY27 · consolidated

44.3 vs 56.4x5Y avg

EV/EBITDA

27.2x

Q1 FY27 · consolidated

27.2 vs 34.2x5Y avg

EBITDA MARGIN

11.1%

TTM · consolidated

+0.0 ppYoY

NET PROFIT MARGIN

4.4%

Q1 FY27 · consolidated

-2.0 ppYoY

DEBT TO EQUITY

0.0x

Q1 FY27 · consolidated

+0.00xYoY

Peers · Consumer Electronics

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Havells India Ltd.HAVELLS
₹72,421 Cr44.3227.2410.1%11.1%18.4%22.3%-27.2%
Dixon Technologies (India) Ltd.DIXON
₹86,986 Cr41.4128.0814.3%6.0%54.2%50.4%-20.2%
PG Electroplast Ltd.PGEL
₹16,045 Cr77.9936.2215.1%7.9%7.0%11.2%+1.3%
IKIO Technologies LimitedIKIO
₹1,641 Cr33.5515.8334.5%16.3%8.6%12.0%+2.2%
Onida Electronics LimitedMIRCELECTR
₹1,280 Cr-17.06-35.13-11.6%-5.8%-41.1%-26.9%+21.4%
CWD LimitedCWD
₹762 Cr18.0%

As of Q1 FY27

Financials