Fundamentals scanner
Every ratio from the Fundamental Analysis track, computed on a real company and annotated with what the number actually means. Then the three financial statements, so you can do the cash-flow check yourself.
Havells India
IndustrialsNeutral- Market cap
- ₹81457.51 Cr
- P/E
- 50.0x
- ROE
- —
- Debt / equity
- 0.03
What the company does
Havells India Limited, a fast-moving electrical and electronic durables company, manufactures, trades in, and sells various consumer electrical and electronic products in India and internationally. The company operates through six segments: Switchgears, Cables, Lighting and Fixtures, Electrical Consumer Durables, Lloyd Consumer, and Others. It offers switches; switchgears, such as circuit breakers, energy savers, human safety equipment, distribution boards, surge protection devices, and control and monitoring devices, as well as magnetic contractor, thermal overload relays, switchgear, circuit breakers, and starters; lighting products; and home appliances, including air conditioners, LED televisions, washing machines, refrigerators, air coolers and purifiers, appliances, personal grooming products, water heaters and purifiers, and geysers. The company also provides flexible, power, control, and fire survival cables; fans comprising ceiling, table, pedestal, wall, ceiling mounting, personal, and domestic exhaust fans; centrifugal, mono block, submersible, borewell and sewage submersible, pressure, and shallow well jet pumps; dishwashers; air circulators; and heavy-duty exhaust fans. In addition, it offers crane duty, smoke, brake, inverter duty, and energy motors; solar rooftop on grid, solar off grid, and solar on grid inverter solutions; power solutions, including power capacitors, IOT enabled IPFC relays, HD harmonic detuned reactors, IOT enabled APFC panels, and high PIV thyristor switches; and smart home automation solutions that connects lights, curtains, air conditioners, and other devices to control them through smart phone, tablet or wall panel, as well as smart modular switches and accessories. The company offers its products under the Havells, Lloyd, Havells Crabtree, REO, and Havells Studio brands. Havells India Limited was founded in 1958 and is based in Noida, India.
Valuation — what you are paying
How the price compares to earnings, assets and cash generation.
- P/E (trailing)50.0xWeak
You are paying 50.0 years of current profit for each share. The earnings yield is 2.0%.
- P/B (price to book)8.6xWeak
The market values the company at 8.6× its accounting net worth. High is normal for asset-light businesses and unusual for banks.
- EV / EBITDA38.5xWeak
This is the only common multiple that accounts for debt — it is what an actual acquirer would look at, because they would inherit the borrowings.
- Dividend yield0.92%Fair
Pays 0.92% of the current price out each year. Remember that yield rises when price falls — check the dividend is covered by cash flow.
Profitability — is this a good business?
Returns on capital and margins, the numerical shadow of a moat.
- Return on equity—No data
Not available.
- Return on assets—No data
Not available.
- Operating margin5.3%Weak
Keeps ₹5.3 of operating profit from every ₹100 of sales. Compare only against companies in the same industry.
- Net margin6.9%Fair
Sustained high net margins are evidence that something is stopping competitors from competing the profits away.
Financial strength — can it survive a bad year?
Leverage and liquidity. This is where fragility shows up first.
- Debt to equity0.03Strong
A conservative balance sheet that can absorb a downturn without a crisis.
- Current ratio—No data
Not available.
- Total debt₹265.20 CrNo data
Against cash of ₹2341.82 Cr. Net debt is what matters, not gross borrowings.
- Free cash flow—No data
Not available.
Growth — is it getting bigger?
Revenue and earnings momentum, and how the two compare.
- Revenue growth (yoy)+19.5%Strong
Ask where the growth came from: more volume, higher prices, or an acquisition. They are very different in quality.
- Earnings growth (yoy)-16.6%Weak
Profits are growing slower than sales, meaning margins are compressing. The company may be buying its growth.
- Revenue (TTM)₹23590.61 CrNo data
EBITDA of ₹2063.15 Cr and operating cash flow of —.
- PEG ratio0.20Strong
P/E divided by expected growth. Only as reliable as that growth forecast, which is usually optimistic.
Financial statements
Reported figures, most recent year first. All values in rupees.
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | ₹22527.77 Cr | ₹21745.81 Cr | ₹18549.90 Cr | ₹16868.38 Cr |
| Cost of revenue | ₹0.00 | ₹0.00 | ₹0.00 | ₹0.00 |
| Gross profit | ₹0.00 | ₹0.00 | ₹0.00 | ₹0.00 |
| Operating expenses | ₹0.00 | ₹0.00 | ₹0.00 | ₹0.00 |
| Operating income | — | — | — | — |
| Interest expense | — | — | — | — |
| Pre-tax income | — | — | — | — |
| Tax | ₹0.00 | ₹0.00 | ₹0.00 | ₹0.00 |
| Net profit | ₹1705.42 Cr | ₹1488.84 Cr | ₹1273.21 Cr | ₹1074.95 Cr |