Whalesbook
Havells India Limited is a leading Fast Moving Electrical Goods (FMEG) Company and a major power distribution equipment manufacturer with a strong global presence.It enjoys enviable market dominance across a wide spectrum of products, including Industrial & Domestic Circuit Protection Devices, Cables & Wires, Motors, Fans, Modular Switches, Home Appliances, Air Conditioners, Electric Water Heaters, Power Capacitors, Luminaires for Domestic, Commercial and Industrial Applications.[1]
Product SegmentsThe company offers 20 products categories across 20,000+ active SKUs, under the following segments:[1]1) Cables (32% in H1 FY25 vs 33% in FY22):[2][3]The company offers flexible and power cables including multicore round cable, flat submersible cable, LAN cable, CCTV, speaker cable, etc.[4]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Havells India | 1431.75 | 60.90 | 89807.48 | 0.70 | 317.48 | 16.47 | 4766.63 | 5.15 | 25.57 | 21619.15 | 9.96 | 1474.89 | 317.48 | 10.34 | 11.45 | 0.03 |
| 2. | Dixon Technolog. | 13721.00 | 64.35 | 83202.47 | 0.06 | 745.70 | 184.68 | 14855.04 | 28.79 | 39.95 | 48436.92 | 3.88 | 1292.76 | 670.00 | 20.43 | 7.32 | 0.34 |
| 3. | PG Electroplast | 579.55 | 64.83 | 16515.23 | 0.04 | 2.76 | -85.72 | 655.37 | -2.37 | 19.36 | 5036.77 | 8.90 | 254.51 | 2.76 | 5.76 | 7.75 | 0.20 |
| 4. | IKIO Tech | 185.00 | 80.81 | 1429.68 | 0.00 | 10.89 | -22.79 | 164.22 | 31.33 | 8.22 | 518.17 | 9.79 | 17.69 | 10.03 | 2.49 | 4.85 | 0.10 |
| 5. | MIRC Electronics | 23.94 | – | 884.32 | 0.00 | -1.78 | -1754.81 | 163.31 | 7.89 | 5.35 | 671.69 | -4.10 | -41.15 | -22.34 | 4.27 | -0.42 | 0.31 |
| 6. | CWD | 1899.00 | 97.94 | 834.60 | 0.00 | 4.19 | 328.96 | 41.15 | 490.39 | 9.51 | 67.49 | 23.08 | 8.52 | 4.19 | 7.92 | 3.81 | 0.59 |
| 7. | Cellecor Gadgets | 32.05 | 19.75 | 707.26 | 0.00 | 19.53 | 33.58 | 641.49 | 50.69 | 24.21 | 1241.72 | 5.07 | 35.81 | 19.53 | 3.85 | 11.85 | 0.80 |
| – | Median: 18 Co. | 110.22 | 25.47 | 281.52 | 0.0 | 3.48 | 2.71 | 52.34 | 23.75 | 12.27 | 151.31 | 9.18 | 9.65 | 3.48 | 2.66 | 7.11 | 0.2 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 3,669 | 4,120 | 4,850 | 4,824 | 3,891 | 4,401 | 5,434 | 5,798 | 4,533 | 4,882 | 6,532 | 5,438 | 4,767 |
Expenses | 3,382 | 3,696 | 4,319 | 4,421 | 3,518 | 3,968 | 4,798 | 5,222 | 4,153 | 4,451 | 5,771 | 4,918 | 4,325 |
Operating Profit | 287 | 424 | 531 | 402 | 373 | 433 | 637 | 576 | 380 | 432 | 761 | 520 | 442 |
Other Income | 43 | 40 | 47 | 65 | 52 | 56 | 76 | 77 | 93 | 64 | 69 | 69 | 86 |
Profit before tax | 251 | 382 | 490 | 382 | 335 | 391 | 601 | 553 | 368 | 382 | 706 | 475 | 414 |
Tax % | 26% | 26% | 26% | 25% | 26% | 26% | 25% | 26% | 26% | 26% | 26% | 26% | 23% |
Net Profit | 187 | 284 | 362 | 287 | 249 | 288 | 449 | 411 | 273 | 283 | 522 | 352 | 317 |
EPS in Rs | 2.98 | 4.53 | 5.77 | 4.59 | 3.97 | 4.59 | 7.16 | 6.56 | 4.35 | 4.51 | 8.33 | 5.62 | 5.06 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 4,661 | 5,171 | 5,359 | 6,110 | 8,139 | 10,068 | 9,429 | 10,428 | 13,889 | 16,868 | 18,550 | 21,746 | 21,619 |
Expenses | 3,990 | 4,445 | 4,574 | 5,284 | 7,087 | 8,840 | 8,364 | 8,845 | 12,116 | 15,244 | 16,666 | 19,554 | 19,465 |
Operating Profit | 671 | 726 | 786 | 826 | 1,051 | 1,227 | 1,066 | 1,583 | 1,772 | 1,624 | 1,884 | 2,192 | 2,154 |
Other Income | 38 | 51 | 270 | 75 | 127 | 123 | 105 | 188 | 159 | 177 | 249 | 287 | 288 |
Interest | 51 | 43 | 42 | 12 | 24 | 55 | 51 | 90 | 67 | 55 | 84 | 72 | 43 |
Depreciation | 64 | 88 | 105 | 120 | 140 | 149 | 218 | 249 | 261 | 296 | 338 | 399 | 422 |
Profit before tax | 595 | 646 | 909 | 769 | 1,015 | 1,146 | 902 | 1,432 | 1,604 | 1,450 | 1,710 | 2,009 | 1,977 |
Net Profit | 479 | 465 | 712 | 539 | 713 | 787 | 733 | 1,040 | 1,195 | 1,075 | 1,273 | 1,489 | 1,475 |
EPS in Rs | 7.67 | 7.45 | 11.40 | 8.63 | 11.40 | 12.59 | 11.71 | 16.61 | 19.08 | 17.16 | 20.32 | 23.75 | 23.52 |
Dividend Payout % | 39% | 40% | 53% | 41% | 35% | 36% | 34% | 39% | 39% | 44% | 44% | 42% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 62 | 62 | 62 | 62 | 63 | 63 | 63 | 63 | 63 | 63 | 63 | 63 | 63 |
Reserves | 2,067 | 2,313 | 2,891 | 3,211 | 3,677 | 4,130 | 4,242 | 5,102 | 5,926 | 6,552 | 7,376 | 8,268 | 8,614 |
Borrowings | 196 | 83 | 44 | 198 | 108 | 94 | 162 | 623 | 616 | 223 | 303 | 319 | 286 |
Other Liabilities | 1,073 | 1,190 | 1,091 | 1,488 | 2,694 | 2,839 | 2,581 | 3,033 | 3,900 | 4,306 | 4,678 | 5,125 | 4,648 |
Total Liabilities | 3,398 | 3,649 | 4,089 | 4,960 | 6,541 | 7,126 | 7,048 | 8,820 | 10,505 | 11,143 | 12,420 | 13,775 | 13,611 |
Fixed Assets | 906 | 985 | 1,188 | 1,266 | 2,785 | 2,904 | 3,349 | 3,290 | 3,434 | 3,621 | 3,988 | 4,627 | 4,627 |
Gross Block | 1,161 | 1,327 | 1,308 | 1,501 | 3,148 | 3,472 | 4,048 | 4,196 | 4,564 | 5,002 | 5,683 | 6,660 | – |
Accumulated Depreciation | 254 | 342 | 120 | 235 | 363 | 568 | 698 | 906 | 1,130 | 1,382 | 1,695 | 2,034 | – |
CWIP | 28 | 22 | 20 | 12 | 24 | 233 | 86 | 90 | 57 | 166 | 299 | 118 | 475 |
Investments | 883 | 1,012 | 463 | 389 | 42 | 2 | 2 | 308 | 428 | 201 | 41 | 74 | 674 |
Other Assets | 1,582 | 1,630 | 2,418 | 3,293 | 3,690 | 3,988 | 3,611 | 5,132 | 6,587 | 7,155 | 8,092 | 8,956 | 7,835 |
Total Assets | 3,398 | 3,649 | 4,089 | 4,960 | 6,541 | 7,126 | 7,048 | 8,820 | 10,505 | 11,143 | 12,420 | 13,775 | 13,611 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 653 | 600 | 525 | 778 | 1,108 | 513 | 825 | 658 | 1,745 | 565 | 1,959 | 1,561 |
Cash from Investing Activity | -383 | -608 | -77 | -227 | -1,003 | 185 | -548 | -763 | -760 | 35 | -1,639 | -334 |
Cash from Financing Activity | -115 | -269 | -498 | -72 | -358 | -318 | -716 | 190 | -547 | -907 | -534 | -688 |
Net Cash Flow | 154 | -276 | -50 | 478 | -254 | 380 | -439 | 84 | 437 | -307 | -214 | 538 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 11 | 9 | 11 | 14 | 15 | 15 | 9 | 20 | 20 | 21 | 23 | 21 |
Inventory Days | 90 | 79 | 90 | 97 | 123 | 115 | 121 | 153 | 119 | 120 | 102 | 103 |
Days Payable | 59 | 45 | 50 | 66 | 124 | 94 | 91 | 93 | 96 | 85 | 81 | 78 |
Cash Conversion Cycle | 41 | 43 | 51 | 45 | 14 | 36 | 39 | 79 | 44 | 55 | 44 | 46 |
Working Capital Days | -12 | -21 | 1 | -18 | -16 | 0 | 1 | 21 | 7 | 25 | 11 | 12 |
ROCE % | 30% | 29% | 27% | 26% | 28% | 30% | 22% | 29% | 27% | 22% | 24% | 26% |
Direct from BSE filings, auto-summarised
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