Live Webinar on "How to Invest successfully to reach goals without losing sleep" Sign up for Live Webinar
investing succesffuly to reach your goals investing succesffuly to reach your goals
X

Havells India Ltd Stock Analysis

Large Cap
Evaluated by 6220 users | BSE: 517354 | NSE: HAVELLS |
Electric Equipment

Havells India Ltd. 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...

1. Right Stock
Very Good
2. Right Price
3. Right Time

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Havells India Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation
Value Creation Index Colour Code Guide
 Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Capital Employed 21.63%21.19%23.04%19.76%21.3%17.91%18.76%19.99%17.61%21.15%-
Value Creation Index 0.120.630.770.720.850.560.630.740.530.84-
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 3,6164,2254,7205,2395,3786,1358,13910,0689,42910,42811,547
Y-o-Y Gr. Rt.-16.9%11.7%11%2.7%14.1%32.7%23.7%-6.3%10.6%-
Adjusted EPS (Rs.) 5.075.997.657.389.169.1410.7112.3811.5715.8919.33
Y-o-Y Gr. Rt.-18.2%27.7%-3.5%24.1%-0.2%17.2%15.6%-6.5%37.3%-
Book Value per Share (Rs.) 25.7829.9834.1438.0547.2952.3959.8267.0268.7882.4986.19
Adjusted Net Profit 3163744774605725716707757249951,211
Net Op. Cash Flow (Rs. Cr.) 3573816536005257781,108513825658-
Debt to Cash Flow from Ops 0.360.290.30.140.080.250.10.180.050.75-
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Havells India Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 12.5%14.2%8.6%10.6%
Adjusted EPS 13.5%11.7%14.1%37.3%
Book Value per Share 13.811.811.319.9
Share Price 30.5% 27.4% 32.1% 105.7%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity (%) 21.4521.4823.8520.4421.4818.3419.119.5317.0421.0122.92
Operating Profit Margin (%) 13.0312.7613.7213.3814.0913.4612.9212.1911.315.1815.48
Net Profit Margin (%) 8.758.8410.118.7910.649.318.237.697.689.5410.48
Debt to Equity 0.080.060.090.040.020.060.030.020.010.1-
Working Capital Days 727064646866778799104-
Cash Conversion Cycle 16151919232110121933-
Loading price chart...
Corporate Governance What do we look at?
Corporate Governance
Board Credentials
Promoter's holding
Transparency
Integrity
Entity Percentage Holding
Promoters 59.47%
Institutions 32.30%
Non-Institutions 8.22%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Past 10 year's financial track record analysis by Moneyworks4me indicates that Havells India Ltd is a good quality company.

Havells India Ltd's earnings have grown by 11.7%, whereas share price has appreciated 27.4% CAGR over the past five years, indicating the company’s share price is likely overvalued. However, for specific investment actions please consult your investment advisor.

Havells India Ltd share price has appreciated 34.3% annually (CAGR) over the past ten years.

Past 10 years financial track record analysis and assessment of future prospects by Moneyworks4me indicates that Havells India Ltd is a good long term investment. However, you need to ensure you buy at a right price to earn good returns.

Havells India Ltd. 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,

Havells India Ltd. 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. The company pioneered the concept of exclusive brand showroom in the electrical industry with ‘Havells Galaxy’. Presently, Havells owns some of the most prestigious brands like Havells, Lloyd, Crabtree and Standard.

Business area of the company

The Company is engaged in manufacturing Switchgears, Cable, Lighting and Fixtures, and Electric Consumer Durables. The Company operates through various segments: Switchgears, Lighting and fixtures, Cables and Electrical Consumer Durables. The Switchgear segment comprises domestic and the industrial switchgears, electrical wiring accessories, industrial motors, pumps and capacitors. The Lighting and fixture segment comprises energy saving lamps (CFL) and luminaries. The Cables segment comprises domestic cables and industrial underground cables. The Electrical Consumer Durable segment comprises fans, water heaters and domestic appliances.

Products of the company

Appliances

  • Steam Irons
  • Dry Irons
  • Blenders / Choppers
  • Mixer Grinders
  • Juicer Mixer Grinders
  • Juicers
  • Electric Ovens
  • Kettles
  • Coffee Makers
  • Room Heaters
  • Pop-up toasters
  • Sandwich makers
  • Induction Cooktops
  • Electric Cookers
  • Food Processor
  • Garment Steamers
  • Air Purifiers

Fans

  • Ceiling Fans
  • Table Fans
  • Wall Fans
  • Pedestal Fans
  • Personal Fans
  • Domestic Exhaust Fans

Lloyd Consumer Durables

  • Air Conditioners
  • Refrigerators
  • TV's
  • Washing Machines

Water Heaters

  • Instant Water Heaters
  • Storage Water Heaters
  • Instant Gas Water Heater
  • Immersion Rods
  • Hot Water Tap
  • Heat Pump Water Heater

Personal Grooming

  • Shavers
  • Trimmers
  • Hair Dryers
  • Hair Straighteners
  • Bikini Trimmers
  • Nose Trimmers
  • Nail Shiner
  • Skin Care
  • Curler
  • Multi-styling kit
  • Male Grooming Kit

Water Purifier

  • RO and UV Water Purifiers
  • UV Water Purifiers
  • Alkaline Water Purifier 

Air Coolers

  • Desert Coolers
  • Personal Coolers
  • Window Cooler
  • Tower Cooler

Switches

  • Accessories
  • Carbon Modular Range
  • Fabio Modular Range
  • ORO Modular Range
  • Coral Modular Range
  • Frameio Front Plates
  • ORO Metalica Range

Pumps

  • Monoblock Pump
  • Submersible Openwell
  • Centrifugal Pump
  • Submersible Pumps
  • Borewell Submersible

Lighting

  • LED Panels
  • LED Downlighters
  • LED Battens
  • Portable Lighting
  • LED Lamps
  • LED Strips
  • LED Outdoor
  • Home Decor
  • LED Spotlight

Switchgears

  • MCB
  • RCCB
  • Distribution Board
  • Smart Socket
  • Isolator
  • ACCL
  • Time Switch
  • Surge Protection Device
  • Indicator Light
  • Control and Monitoring Device

Flexible Cables

  • Lifeline (HRFR)
  • Life Shield (HFFR)
  • Life Guard (FR-LSH)
  • Multicore Round Cable
  • CATV Co axial Cables
  • Telecom Switch Board Cables
  • LAN Cables

Awards

  • Havells India has been certified as a ‘Great Place to Work’ organization by Great Place to Work Institute.
  • Havells India becomes a member of Dow Jones Sustainability Emerging Markets Index and ranked 6th most sustainable company in Electrical Components & Equipment Industry globally.
  • 5th Machinist Super Shop Floor Award, 2019 for ‘Digital Manufacturing’ in Large Enterprise Category to Baddi Plant.
  • 12th Natonal CII Competitiveness and Cluster Award 2019 for Best Kaizen on Low Cost   Automation:  Cost Saving in Lighting Plant Paint Shop to Neemrana Lighting team.
  • National Energy Conservation Award 2019 given by Bureau of Energy Efficiency (BEE) for ‘Appliance of the year’ in Storage Water Heater Category.
  • Mr. Anil Rai Gupta, Chairman & Managing Director, Havells India receives ‘CEO of the Year- Consumer Durable Category’ award by Business Today at ‘Best CEO Awards’.
  • Mr. Anil Rai Gupta, Chairman & Managing Director, Havells  India  receives  Good  Corporate  Citizen  Award  for  Social  Welfare  2019  by  PHD  Chamber  of Commerce.
  • Mr. Anil Rai Gupta, Chairman & Managing Director, Havells India receives Entrepreneur of the year award 2019 by Forbes.

Milestones

1983- 2003

  • Launch of Fans, CFL and Lighting
  • Standard Electrical Company becomes a 100% Subsidiary of the company.
  • Attained the IEC certification for Industrial switchgear and CSA certification for all manufacturing plants.
  • Acquired business of Havells Industries Ltd, MCCB of Crabtree India Limited and merged ECS Limited in the company to consolidate its area of core competence.
  • Acquired controlling stake in Duke Arnics Electronics (P) Limited engaged in manufacturing of Electronic Meters-Single Phase, Three Phase, Multi Function, Tri Vectors.
  • Acquired controlling interest in an industry major-Standard Electricals Ltd.
  • Introduced high-end Ferraris Meters in Joint Venture with DZG, Germany.
  • Acquired Electric Control & Switchboards at NOIDA, UP for manufacturing customized packaged solutions.
  • Set up another manufacturing plant at Faridabad, Haryana for Control Gear Products.
  • Set up a manufacturing plant at Sahibabad, UP for Changeover Switches.
  • Started manufacturing MCBs at Badli, Delhi in Joint Venture with Geyer, Germany.
  • Acquired Towers and Transformers and turned it into a profitably manufacturing Energy Meters Company in 1 year.

2004

  • Set up manufacturing plant at Baddi , HP for manufacturing of Domestic Switchgear.
  • Set up a manufacturing plant for manufacturing of CFL at existing manufacturing plant in Faridabad, Haryan.
  • Set up a manufacturing plant for manufacturing of Ceiling Fans at Noida, UP.
  • Set-up its own marketing office in London through its wholly owned subsidiary company Havells U.K. Ltd.
  • In December, 2004 placed 235 fully convertible debentures of Rs 10 Lacs on Shine, Mauritius and the debenture will be converted in June, 2006.
  • Attained the CE certificate for CFL.

2005

  • Set up manufacturing plant in Haridwar, Uttaranchal for manufacturing Fans.
  • Awarded the KEMA certification by The Dutch Council for Accreditation, making QRG the only group to attain this certification.
  • Set up of R&D Center in Noida H.O.

2006

  • Crabtree India merged with Havells India.
  • Added CFL production unit in Haridwar manufacturing plant.
  • Expansion at Alwar manufacturing plant for increase of production capacity.
  • Expansion at Baddi manufacturing plant and set-up of an Export Oriented Unit.
  • First Company to get the ISI Certification for complete range of CFLs.
  • Started mid-day meal program at Alwar, Rajasthan caters to 10,000 students from 77 schools.

2007

  • Set-up of Capacitor manufacturing plant in Noida, UP with the capacity of 6, 00,000 kVAr per month.
  • Acquired the Lighting business of a Frankfurt based company 'Sylvania', a global leader in lighting business and now the company's turnover crosses $1 Billion.
  • Warburg Pincus, a global private equity firm and one of the largest investors in India, invested $110 million in Havells India Ltd. Havells issued fresh shares to Warburg Pincus, representing approximately 11.2% of the fully diluted share capital of the company.
  • QRG Group entered healthcare business by acquiring a majority stake in Central Hospital and Research Centre, Faridabad.

2008

  • First Indian CFL manufacturers to have adopted RoHS, European norms on Restriction of Hazardous Substances in CFLs.
  • Set up of Global Corporate office, QRG Towers at Expressway Noida.
  • Investment of Rs.50 Crore in Global Center for Research and Innovation (CRI).
  • Set up of fully automatic plant for Havells Lafert Motors at Neemrana.
  • Change in Corporate BRAND identity.

2009

  • Set up of fully automatic 2nd unit for switchgear manufacturing at Baddi.
  • Global consolidation of CFL manufacturing plant at Neemrana for domestic and export purposes.
  • Launch of India's 1st HPF CFL.
  • Launch of India's 1st BEE 5 Rated Fan  

2010

  • Launch of Havells brand in US & Mexico.
  • Sets up 2nd unit for Fan manufacturing at Haridwar.
  • Acquired 100% interest in Standard Electricals.
  • Sets up World's First New Generation CMH Lamp Plant at Neemrana.
  • Enter into Electric Water Heaters business.

2011

  • Launch of Domestic Appliances.
  • Set up of new Industrial Switchgear Plant in Sahibabad.
  • Launch of new range of Control Gear Cosmic Star series.

2012

  • Launch Copper Flexible Cables under the Standard brand.
  • Launch of Crabtree XPRO Switchgear.
  • Set up of new Lighting Fixtures plant in Neemrana.
  • Installed India’s first large scale lighting fixtures plant at Neemrana, Rajasthan.

2013

  • Entered the business of Self Priming Monoblock Pumps.

2014

  • Introduced fans Category under the Standard Brand.
  • 2014 -Havells India has launched the country’s first most energy efficient fan - ES 40.
  • Havells India Ltd has launched India's first brightest LED lamps range 'LUMENO' at its lighting fixtures plant in Neemrana, Rajasthan.
  • Havells India adds first 'Made in India' MCB to its portfolio.
    Havells India, has got hold of a 51 per cent stake in Promptec Renewable Energy Solutions at an enterprise value of a whopping Rs 65 crore.
  • Havells India has launched a world class range of MCBs and RCCBs under EURO-II series in Odisha market.
  • Havells India launches world class products in Switchgear segment in the Eastern Region.

2016

  • Havells India launches its first indigenous MCB and RCCB- Euro II series.
  • Havells India to launch solar power products.
  • Havells unveils World’s most advanced, Made in India range of Water Heaters.
  • Havells forays into Air Purifiers Segment.
  • Havells fortifies its presence in Uttar Pradesh, launches new range of entry level modular switches ‘Reo Bliss’.

2017

  • Havells forays into automation and smart solution business segment.
  • Havells launches First Futuristic Display & Learning Center ‘Havells World’ in Kolkata; reaffirms its commitment to Eastern Region.
  • Havells Launches ‘Havells Galaxy & Light House’ in Lucknow; in UP.
  • Havells unveils revolutionary range of fans for contemporary homes.

2018

  • In FY2018-19, the company had set up its first AC manufacturing plant at Ghiloth, Rajasthan.

2019

  • Havells India has entered into a partnership with Do Your Thng (DYT) and Dentsu Aegis Network (DAN) to increase user engagement for the campaign ‘Beard Kyun Ho Weird.
  • Havells India has introduced ST^Dx, Communication ready range of switchgear in Chennai.

2020

  • Havells India has entered into refrigerator segment under its consumer durable brand - Lloyd.
  • Havells India has launched ‘Delite Alkaline RO Water Purifier,’ the latest range of technologically advanced alkaline water purifiers with 50% plus water recovery, in Pune. 
  • Havells India has launched country’s first intelligent Fan - Carnesia-I with smart mode.
  • Havells India’s consumer durable brand -- Lloyd has launched Grande Heavy-Duty Air Conditioner.
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback