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Havells India share price & results

Havells India Limited· Consumer Durables· Consumer Discretionary

Results to
Sept 2026
Latest analysed call
Q2 FY27
Ownership as of
Sept 2026

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

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue6,432 ₹ crore+34.6% YoYQuarterly, as filedQuarter to Sept 2026Revenue from operations as filed.
Operating margin9.0 %0.0 pts YoYOperating profit / revenueQuarter to Sept 2026For the quarter; a change is in percentage points.
Net profit349 ₹ crore+9.7% YoYQuarterly, as filedQuarter to Sept 2026Profit after tax as filed.
Return on equity17.36 %+0.2 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin0.69 %−2.8 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)16.50 %−13.7 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Guidance

What management said, and what became of it

2 of 6 judged targets kept · 11 open · verdicts reflect calls analysed to Q2 FY27.

Havells India Limited management guidance track record on Inve: 17 targets tracked across analysed earnings calls (2 achieved, 4 missed, 11 open).

TargetOriginal wordingSaidLatest callVerdict
Switchgear Segment GrowthGood growth in Q2 FY27
Call transcript, Q1 FY27 · 17 Jul 2026		Q1 FY27Q2 FY27:Switchgear delivered strong organic growth in Q2 FY27 alongside a recovery in contribution margins to 38-39%, fulfilling the Q2 rebound commitment.
Call transcript, Q2 FY27 · 22 Oct 2026		Achieved
Lloyd Contribution MarginsImprovement from Q3, real effect in Q4
Call transcript, Q2 FY26 · 17 Oct 2025		Q2 FY26Q2 FY27:Historical timeline (Q3/Q4 FY26) has passed and the promise remains closed as missed.
Call transcript, Q2 FY27 · 22 Oct 2026		Missed
Havells Normalized Margin Levels13-14.5%
Call transcript, Q4 FY25 · 22 Apr 2025		Q4 FY25Q2 FY27:EBITDA grew ~30% YoY supported by operating leverage, but trailed the 35% YoY revenue growth as overall contribution margins were softer YoY due to aluminum price volatility in cables and off-season under-absorption in Lloyd. No specific standalone EBITDA margin figure was disclosed.
Call transcript, Q2 FY27 · 22 Oct 2026		At Risk

Source: Inve Guidance Tracker for Havells India Limited · to Q2 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

4 of Havells India Limited's 17 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 14 more targets are in the full ledger.

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Price

₹1,009.9 −2.05% · −₹21.1

Last close 26 Oct 2026 · NSE · INR · Source: Inve

Performance −32.4% 1Y

₹1.0k₹1.2k₹1.4kOct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 24 Oct 2025Q3 FY26 — 19 Jan 2026Q4 FY26 — 22 Apr 2026Q1 FY27 — 17 Jul 2026Q2 FY27 — 22 Oct 2026

1Y: ₹1,494.9 on 24 Oct 2025 → ₹1,009.9. High ₹1,509.4 (29 Oct 2025), low ₹1,009.9 (26 Oct 2026).

Previous close
₹1,031
Market cap
₹64.7k Cr
52-week range
₹1,009.9 – ₹1,509.4
One year
−32.34%
Price to earnings (TTM to Sept 2026)
38.13×
Return on equity (TTM to Sept 2026)
17.36%

Overview

Symbol
NSE:HAVELLS
Industry
Consumer Discretionary
Exchange
NSE
Currency
INR

What Havells India Limited does

Based on the company's own presentations, annual report and earnings calls.

Havells India is a diversified fast-moving electrical goods (FMEG) manufacturer that sells under a multi-brand portfolio - Havells, Lloyd, Crabtree, Havells Studio, Standard and Reo. Its core business spans wires and cables, switchgears, lighting and fixtures, and electrical consumer durables (fans, air coolers, water heaters and appliances), sold through B2B/infrastructure channels for industrial cables and switchgear and B2C dealer/retail distribution for consumer categories. Separately, its Lloyd Consumer business manufactures and markets room air conditioners, refrigerators and other consumer durables. The company has also taken a strategic equity stake in Goldi Solar Pvt Ltd, a solar-module manufacturer, to build out a renewables/solar business.

Segments

  • Switchgears
  • Cables
  • Lighting & Fixtures
  • Electrical Consumer Durables (ECD)
  • Others
  • Lloyd Consumer
Number of brands
6
New Lloyd refrigerator manufacturing plant
Commissioned at Ghiloth
Solar manufacturing stake
Strategic equity stake in Goldi Solar Pvt Ltd, a solar-module manufacturer
New R&D centre
Under construction
Founded 1983Headquarters Noida, Uttar Pradesh, India Company website

How the price took the results

close before → close after

Q2 FY27
+0.1%
22 Oct
Q1 FY27
+1.4%
17 Jul
Q4 FY26
+1.5%
22 Apr
Q3 FY26
+1.5%
19 Jan

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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