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    Havells India Limited

    Indian FMEG maker of wires, cables, switchgear and lighting, plus Lloyd-branded ACs and consumer durables.

    Consumer Durables
    Consumer Discretionary
    View HAVELLS earnings calls
    ₹1,187.3
    -0.12% from avg

    Overview

    Price

    ₹1,187.3

    Market Cap

    ₹76.0k Cr

    Sector

    Consumer Durables

    Consumer Discretionary

    Rank

    4

    Performance

    Explore HAVELLS

    Promise TrackerConcall Analysis

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital6363636363636363
    Reserves4.2k5.1k5.9k6.6k7.4k8.3k8.6k9.4k
    Borrowings72521616223303319286265
    Other Liabilities2.7k3.2k3.9k4.3k4.7k5.2k4.7k5.0k
    Total Liabilities7.1k8.9k10.5k11.2k12.4k13.8k13.6k14.7k
    AssetsFixed Assets3.4k3.3k3.4k3.6k4.0k4.7k4.7k5.3k
    CWIP869057166299118475443
    Investments03064262012011616888
    Other Assets3.6k5.2k6.6k7.2k8.1k9.0k7.9k8.1k
    Total Assets7.1k8.9k10.5k11.2k12.4k13.8k13.6k14.7k

    Valuation

    Assumptions

    Current — HAVELLS
    Price
    ₹1,187
    EPS (TTM)
    ₹22.13
    PE (TTM)
    53.7
    Profit growth
    10.4%
    ₹

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (70.8×) and current (53.7×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹1,187
    vs
    Fair value · 15% return
    ₹845
    29%Overvalued

    At 10.4% growth and a 54× exit, ₹1187 only delivers your return if you pay ₹845. The price is currently baking in 17% growth.

    EPS grows 10.4%/yr for 5 years, then fades to 6% over 2, exits at 54×.

    YearGrowthEPS (₹)
    FY2710.4%24.43
    FY2810.4%26.97
    FY2910.4%29.78
    FY3010.4%32.87
    FY3110.4%36.29
    FY328.2% ·fade39.27
    FY336.0% ·fade41.63

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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