Obermatt

Havells India

NSI:HAVELLS · INE176B01034
Electrical EquipmentLarge

360

73
EV / EBIT31
Price / Owner Earnings3
Owner Earnings Yield38
Dividend Yield69
Price/Sales40
EV / Gross Profit67
Price/Book36
Return on Capital79
Cash Return on Capital53
Return on Equity74
EBIT Margin49
Gross Profitability100
Cash Conversion34
Owner Earnings Margin42
Sales growth60
Profit Growth60
Long-Term EPS Growth69
Reinvestment1
Price momentum13
Debt load80
Refinancing12
Debt Payback100
Liquidity91
Analyst ratings53
Opinion Changes50
Price Target Upside75
Market mood75
Value Creation13/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Havells India clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Based on 3/5 components.

Profile

CountryIndia
IndustryElectrical Equipment
SizeLarge
TypePublic Company
ExchangeNSEI
Founded1983
Employees7,906
ISININE176B01034
Last UpdateApr 2, 2026
Index & Theme
Smart MetersIndustrial AutomationSensorsPower GridEnergy ManagementSmart EnergyHVAC ServicesEnergy EfficiencySmart BuildingElectronics

Description

Havells India Limited engages in manufacturing of electrical equipment, wellness and consumer goods, specializing in lighting, wiring accessories, and other consumer durables. The company has grown significantly over the years, evolving into a promin…

Analysis

Middle-of-the-road

Havells India Limited is a middle-of-the-road business: neither the economics nor the price stand out from the peer group. One caution: reported profits have recently run ahead of actual cash, which we track closely.

The price is expensive. You pay 119.0× its owner earnings: the cash an owner could take out each year, which is in the historically expensive zone. At today's price, the market is assuming roughly 31% yearly growth; analysts expect 15%. The market is pricing in far more than analysts expect: heroic expectations.

The trajectory is moderate and the balance sheet is sturdy. The company scores 13/20 on our value-creation score: creating some value. Analysts lean positive.

What to watch: Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
47
2023202420252026

All-time high

59

Jan 2025

All-time low

1

Jan 2023

Average rank

35

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
40
27
30
11
Price/Earnings
31
5
15
7
Price/Book
36
5
7
3
Dividend Yield
69
34
33
29
Value (overall)
52
9
19
9

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →