Havells India logo

Havells India share price

NSE: HAVELLSBSE: 517354Consumer DurablesMid Cap

Havells India Limited · Face value ₹1 · Listed Feb 1994 on BSE, Mar 2001 on NSE
Last close ₹1,025.40up ₹16.90 (1.68%)BSE ₹1,021.00

Share price at the NSE close on 28 Oct 2026. Previous close ₹1,008.50.

28 Oct: open ₹1,009.00, high ₹1,033.40, low ₹1,000.30

52-week range of traded prices to 28 Oct 2026
₹999.20Low, 27 Oct 2026₹1,516.60High, 30 Oct 2025
Market cap
₹64,350 Cr132nd largest listed
P/E
38.68
P/B
6.58
Dividend yield
0.98%
ROE
18.0%
ROCE
18.6%
Debt to equity
0.00
Volume, NSE
11,71,17352.8% delivered

Havells India share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

−30.7%over a year · Nifty Consumer Durables −10.2% · Nifty 500 −8.8%

ResultsDividend20-session average 10,34,356 shares a day, 50.1% delivered

About Havells India

Havells India Limited makes consumer electrical and electronic goods and power distribution equipment for household, commercial and industrial use.1 It sells through dealers, distributors, e-commerce and quick commerce, brand shops, modern retail chains, government canteen stores and projects.2

It reports its results in segments: Switchgears, covering circuit protection equipment, switches and automation solutions (also called wiring accessories) and industrial switchgear; Cables, covering power and flexible cables; Lighting and Fixtures; and Electrical Consumer Durables, covering fans, small domestic appliances and water heaters.345 Lloyd Consumer sells air conditioners, washing machines, refrigerators and televisions under the Lloyd brand.6 In the year to Mar 2026, Others covered motors, solar, solar pumps, pumps, water purifiers and personal grooming; Renewables has been a separate segment since the quarter to Jun 2026.57 It is building its renewables business through rooftop solar, adding solar pumps and EV chargers.8

It supplies products to more than 70 countries, and its international business is around 3.75% of the total.9 Its 4 subsidiaries are all registered outside India, including Havells International Inc. in the United States.10

The company was incorporated on 8 Aug 1983, and its founder was Qimat Rai Gupta.111 Anil Rai Gupta is Chairman and Managing Director; directors Surjit Kumar Gupta and his son Ameet Kumar Gupta belong to the promoter category.1213 In the quarter to Dec 2025, it signed a settlement under which HPL Group accepted the rights of the company and its promoters to the HAVELLS trademark and undertook not to use or challenge it.14

Havells India key points

Results

  • In the quarter to Sep 2026, standalone net revenue (the company without its subsidiaries) was ₹6,417 crore, up 34.6% from ₹4,767 crore. EBITDA (profit before interest, tax, depreciation and amortisation) rose 30.5% to ₹576 crore; net profit was ₹353 crore.1516
  • In the year to Mar 2026, standalone net revenue was ₹22,466 crore, up 3.3%, EBITDA ₹2,213 crore and profit after tax ₹1,705 crore. Other income included a ₹282.74 crore gain from revaluing its investment in Goldi Solar.1718
  • Standalone cash and cash equivalents, including bank deposits, were ₹1,190 crore at the end of September 2026. Its annual report for the year to Mar 2026 states zero debt.192021

Business segments

  • Revenue by segment, standalone22
    Itemhalf year to Sep 2026half year to Sep 2025
    Cables₹5,455 crore₹3,961 crore
    Electrical Consumer Durables₹2,185 crore₹1,962 crore
    Lloyd Consumer₹2,074 crore₹1,740 crore
    Switchgears₹1,389 crore₹1,225 crore
    Lighting and Fixtures₹839 crore₹793 crore
    Renewables₹644 crore₹226 crore
    Others₹341 crore₹296 crore
  • Cooling products such as air conditioners, fans, air coolers and refrigerators made up nearly one-third of revenue in the year to Mar 2026, when a subdued summer weighed on results.18
  • In the year to Mar 2026, Cables revenue grew 20.8%, helped by added capacity and higher commodity prices, while Lloyd revenue fell 22.9% as a weak summer cut demand.23

Distribution and service

  • Channel partners24
    Itemyear to Mar 2026
    Dealersabout 20,700
    Retailers2.72 lakh
    Electricians2.80 lakh
  • In the year to Mar 2026 it added about 100 or more net exclusive brand stores, to more than 1,100 franchisee-owned stores, and runs more than 750 Havells Utsav stores.25
  • Its in-house field service platform, Serv+IQ, connects more than 9,000 technicians and has handled 75 lakh service jobs.26

Plants and capacity

  • Its 17 factories make 90% of its finished products in-house, with cables at Alwar and Tumakuru, air conditioners, washing machines and refrigerators at Ghiloth, and fans and small domestic appliances at Haridwar.27
  • Lloyd commissioned a refrigerator plant at Ghiloth, Rajasthan, in March 2026, with an annual production capacity of 12 lakh units.2829
  • It makes cables of up to 132 kV (kilovolts) and is working towards 220 kV extra-high-voltage cables; it invested over ₹700 crore in cables capacity over the 2 years to Mar 2026.30

Research and development

  • It spent ₹317.40 crore on research and development in the year to Mar 2026, ₹22.28 crore of it capital spending.31
  • In the year to Mar 2026 it filed 22 patent applications and 126 design registrations, taking its totals to 292 patent applications, of which 99 have been granted, and 1,550 design registrations.32
  • It completed 670 new product development projects in the year to Mar 2026, and new products made up 31% of total company revenue.33
  • Research runs through a consumer design studio, a Bengaluru innovation centre for AI and connected products, and a Noida R&D centre for product quality and reliability.34

Expansion and capital spending

  • In its presentation of 22 Oct 2026, the company said it expects capital expenditure of ₹1,400 crore for the year to Mar 2027, mainly for cables capacity and a new R&D centre.35
  • The company stated in its annual report for the year to Mar 2026 that it plans a new R&D centre in Noida on 7.3 acres for about 2,000 professionals.36
  • The company stated in its annual report for the year to Mar 2026 that Lloyd is setting up front-load washing machine manufacturing, expected to be operational by December 2026.37

What the company expects

  • On its earnings call of 17 Jul 2026, the company said advertising spending, which more than doubled year on year in the quarter to Jun 2026, would normalise, and it expects about 2.7% of revenue, its long-term average, for the year to Mar 2027.3839
  • On its earnings call of 17 Jul 2026, the company said its renewables focus is on installations for homes and commercial and industrial sites, not utility-scale projects.39

Recent events

  • On 25 Sep 2026, CARE assigned or reaffirmed AAA on the company's long-term bank facilities and A1+ on its short-term bank facilities and commercial paper (short-term debt).40
  • On 1 Sep 2026, CARE Analytics and Advisory gave the company a corporate governance grade of CG 1, the highest on its scale.41
  • On 26 Nov 2025, the company approved buying 26% of Kundan Solar (Pali) Private Limited, a solar power venture to supply its Rajasthan plants; Kundan Group's promoters are related to one of its promoters. By March 2026 it held the stake, for ₹5.63 crore.4243
  • On 27 Jun 2025, Goldi Solar became an associate (a company Havells can influence, through shareholder-agreement rights) after Havells invested ₹600 crore for an 8.74% stake; it ceased to be one when those rights were waived in the quarter to Mar 2026.444546

Last updated

All 46 sources, each with its page
  1. 1. Annual report, 15 May 2026, page 353
  2. 2. Annual report, 15 May 2026, page 29
  3. 3. Annual report, 15 May 2026, page 216
  4. 4. Annual report, 15 May 2026, page 218
  5. 5. Annual report, 15 May 2026, page 220
  6. 6. Annual report, 15 May 2026, page 221
  7. 7. Earnings call, 17 Jul 2026, page 3
  8. 8. Annual report, 15 May 2026, page 44
  9. 9. Annual report, 15 May 2026, page 180
  10. 10. Annual report, 15 May 2026, page 146
  11. 11. Annual report, 15 May 2026, page 34
  12. 12. Annual report, 15 May 2026, page 44
  13. 13. Annual report, 15 May 2026, page 229
  14. 14. Exchange filing, 19 Jan 2026, page 6
  15. 15. Investor presentation, 22 Oct 2026, page 4
  16. 16. Investor presentation, 22 Oct 2026, page 4
  17. 17. Annual report, 15 May 2026, page 48
  18. 18. Annual report, 15 May 2026, page 145
  19. 19. Investor presentation, 22 Oct 2026, page 4
  20. 20. Investor presentation, 22 Oct 2026, page 9
  21. 21. Annual report, 15 May 2026, page 74
  22. 22. Investor presentation, 22 Oct 2026, page 7
  23. 23. Annual report, 15 May 2026, page 146
  24. 24. Annual report, 15 May 2026, page 47
  25. 25. Annual report, 15 May 2026, page 180
  26. 26. Annual report, 15 May 2026, page 131
  27. 27. Annual report, 15 May 2026, page 34
  28. 28. Annual report, 15 May 2026, page 79
  29. 29. Annual report, 15 May 2026, page 80
  30. 30. Annual report, 15 May 2026, page 81
  31. 31. Annual report, 15 May 2026, page 188
  32. 32. Annual report, 15 May 2026, page 156
  33. 33. Annual report, 15 May 2026, page 176
  34. 34. Annual report, 15 May 2026, page 175
  35. 35. Investor presentation, 22 Oct 2026, page 9
  36. 36. Annual report, 15 May 2026, page 33
  37. 37. Annual report, 15 May 2026, page 221
  38. 38. Earnings call, 17 Jul 2026, page 3
  39. 39. Earnings call, 17 Jul 2026, page 6
  40. 40. Exchange filing, 25 Sep 2026, page 1
  41. 41. Exchange filing, 1 Sep 2026, page 1
  42. 42. Exchange filing, 26 Nov 2025, page 1
  43. 43. Annual report, 15 May 2026, page 146
  44. 44. Annual report, 15 May 2026, page 423
  45. 45. Annual report, 15 May 2026, page 146
  46. 46. Annual report, 15 May 2026, page 147

Results

Consolidated; ₹ crore.Havells India quarterly results

Revenue growth, 12 months
+16.5%
Net profit growth, 12 months
+13.7%

Quarter to Sep 2026, against the quarter before

Revenue
₹6,432 Crdown 1.32%
Net profit
₹349 Crup 20.54%
Net margin
5.4%

Revenue by quarter

₹4,889 CrDec 24₹6,544 CrMar 25₹5,455 CrJun 25₹4,779 CrSep 25₹5,588 CrDec 25₹6,705 CrMar 26₹6,518 CrJun 26₹6,432 CrSep 26
Peak revenue ₹6,705 Cr, quarter to Mar 2026; lowest ₹4,779 Cr, quarter to Sep 2025

Net profit by quarter, a loss in red

₹278 CrDec 24₹517 CrMar 25₹348 CrJun 25₹318 CrSep 25₹300 CrDec 25₹723 CrMar 26₹290 CrJun 26₹349 CrSep 26
₹ croreDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue4,8896,5445,4554,7795,5886,7056,5186,432
Net profit278517348318300723290349
Net margin5.7%7.9%6.4%6.7%5.4%10.8%4.4%5.4%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Cables₹8,677 Crup 20.78%38.5%
  • Lloyd Consumer₹3,974 Crdown 22.59%17.6%
  • Electrical Consumer Durables₹3,876 Crdown 3.43%17.2%
  • Switchgears₹2,586 Crup 7.88%11.5%
  • Lighting & Fixtures₹1,688 Crup 1.02%7.5%
  • Others₹1,727 Crup 25.24%7.7%
The pill is the change in revenue on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history.Havells India PE ratio and valuation

Price to earnings

At or below today's level on 2% of 2,478 trading days over the last 10 years.

LowestHighest
Its median62.11Industry median27.56
Price to book

At or below today's level on 0.2% of 1,989 trading days since Oct 2018.

LowestHighest
Its median12.00Industry median2.20
Dividend yield

At or below today's level on 94% of 2,459 trading days over the last 10 years.

LowestHighest
Its median0.63%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−21.3%+14.7%−32.1%0.8%
3 years+0.8%+16.4%−14.0%0.7%
5 years+3.2%+10.1%−6.8%0.7%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Havells India shareholding pattern

Shareholding by group

  • Promoters59.35%
  • Foreign institutions14.47%
  • Indian institutions19.86%
  • Individuals and others6.32%
Holder
QRG Investments and Holdings LimitedPromoter41.21%
Shri Anil Rai Gupta as Trustee of ARG Family TrustPromoter12.34%
LICI NEW PENSION PLUS BALANCED FUNDInsurance companies7.63%
Shri Surjit Kumar Gupta as Trustee of SKG Family TrustPromoter5.81%
NALANDA INDIA EQUITY FUND LIMITEDForeign portfolio investors, category I4.07%
GOVERNMENT PENSION FUND GLOBALForeign portfolio investors, category I1.09%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions −1.44 pts, Indian institutions +1.60 pts, mutual funds +1.60 pts.

The filing reports 4,24,772 of its 62,75,61,652 shares locked in.

Mutual fund holdings

177 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 103 of the 122 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 5 more funds filed their first portfolio on record, holding it.All 177 funds holding Havells India

Bought for the first time
4
Bought again
1
Added
69
Cut
53
Held unchanged
45
Sold out
23
Fund
HDFC Mutual Fund logoHDFC Mid Cap FundHDFC Mutual Fund84,42,1260.84%₹857.7 Cr
SBI Mutual Fund logoSBI Aggressive Hybrid FundSBI Mutual Fund70,00,0000.83%₹711.2 Cr
HDFC Mutual Fund logoHDFC Focused FundHDFC Mutual Fund60,65,7032.32%₹616.3 Cr
HDFC Mutual Fund logoHDFC Flexi Cap FundHDFC Mutual Fund49,06,4870.46%₹498.5 Cr
HDFC Mutual Fund logoHDFC Large Cap FundHDFC Mutual Fund43,29,2301.18%₹439.8 Cr
ICICI Prudential Mutual Fund logoICICI Prudential Large Cap FundICICI Prudential Mutual Fund27,73,3210.37%₹281.8 Cr
HDFC Mutual Fund logoHDFC Aggressive Hybrid FundHDFC Mutual Fund19,19,2640.92%₹195.0 Cr
UTI Mutual Fund logoUTI Flexi Cap FundUTI Mutual Fund18,80,0000.85%₹191.0 Cr
Franklin Templeton Mutual Fund logoFranklin India Flexi Cap FundFranklin Templeton Mutual Fund18,08,8531.01%₹183.8 Cr
DSP Mutual Fund logoDSP Large & Mid Cap FundDSP Mutual Fund15,84,5990.93%₹161.0 Cr
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 29 Oct 2025.Havells India insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Others: no market trade
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Havells India competitors and peers

Consumer Electronics, 23 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to Havells India in market cap.Consumer durables companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Dixon Technologies (India) logoDixon Technologies (India)DIXON69,73437.1514.91+14.3%+58.2%48.8%24.6%0.09%
PG Electroplast logoPG ElectroplastPGEL15,38270.984.89+21.0%−14.9%7.2%8.9%0.05%
IKIO Technologies logoIKIO TechnologiesIKIO1,28127.562.13+34.5%+126.0%8.0%8.8%0.00%
Onida Electronics logoOnida ElectronicsONIDA932–3.92+6.3%–−42.1%−18.9%0.00%
CWD logoCWDCWD66060.21–+331.1%+336.9%14.0%–0.00%
Cellecor Gadgets logoCellecor GadgetsCELLECOR64116.19–––22.0%–0.00%
Universus Photo Imagings logoUniversus Photo ImagingsUNIVPHOTO446–0.55−5.2%−121.5%−2.1%0.1%0.00%
Arham Technologies logoArham TechnologiesARHAM43235.394.38+69.6%+67.8%18.8%–0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Havells India dividend history

Dividend per share, ₹, restated for later splits and bonuses

3.5Mar 174Mar 184.5Mar 194Mar 206.5Mar 217.5Mar 227.5Mar 239Mar 2410Mar 2510Mar 26
Highest ₹10.00 a share, years to Mar 2025 and Mar 2026.
Ex-dateTypePer share
22 May 2026Final₹6.00
23 Jan 2026Interim₹4.00
23 May 2025Final₹6.00
22 Jan 2025Interim₹4.00
31 May 2024Final₹6.00
1 Feb 2024Interim₹3.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Havells India announcements

Havells India share price by year

Each calendar year to 2025.Havells India share price history

YearClose at year endChangeHighest closeLowest close
20251,424.90−14.9%1,701.401,389.90
20241,675.10+22.5%2,082.401,290.35
20231,367.95+24.4%1,450.251,100.60
20221,099.95−21.3%1,406.151,069.65
20211,397.00+52.5%1,474.10909.90
2020916.15+41.6%919.35459.35
2019647.15−6.4%794.40634.65
2018691.50+22.9%725.25487.85
2017562.45+64.3%562.45341.85
2016342.25+12.3%452.30269.95
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
27 Oct 20261,010.001,016.50999.201,008.501,007.118,58,18856.5%
26 Oct 20261,022.001,037.701,005.801,009.901,012.749,70,12343.6%
23 Oct 20261,088.701,091.001,002.801,031.001,026.9628,48,19936.4%
22 Oct 20261,069.901,090.001,048.001,073.001,072.3220,79,99819.0%
21 Oct 20261,100.001,102.601,064.401,071.601,078.854,69,06448.9%
19 Oct 20261,121.201,122.101,098.001,102.701,106.273,14,31246.3%
16 Oct 20261,116.101,138.701,112.501,121.001,128.787,23,67545.6%
15 Oct 20261,119.001,124.801,106.601,116.101,114.144,53,99149.3%
14 Oct 20261,082.001,128.601,071.101,119.901,102.8618,22,02648.4%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history

Ex-dateEventPrice factorWhat happened
26 Aug 2014Split0.2000Each share became 5.
8 Oct 2010Bonus0.5000Holders received 1 bonus share for every 1 held.
6 May 2009Price move–Between two trading sessions the price moved by a fifth or more. No corporate action is on record. Not adjusted for.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Any other event is noted and not adjusted for.

Company details

Chairperson and managing director and CEO
Anil Rai Gupta
At the end of the quarter to Sep 2026
NSE symbol
HAVELLS
BSE code
517354
ISIN
INE176B01034
Industry
Consumer Durables
CIN
L31900DL1983PLC016304
Corporate identity number, the registrar of companies' code for it
Incorporated
1983
Registered office
904, 9th Floor, Surya Kiran Building, Kasturba Gandhi Marg, Connaught Place, New Delhi 110001, Delhi
Share registrar
MUFG Intime India Pvt. Ltd
Keeps the register of shareholders and handles transfers and dividend payments