NSE: HAVELLS | BSE: 517354

Expensive Performer

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1504.00 -35.60 (-2.31%)

27.18% Fall from 52W High

959.9K NSE+BSE Volume

NSE 26 Sep, 2025 3:29 PM (IST)

94,292

Market Cap

Market Leader

0.9

Beta 1Year

Low volatility

Havells India Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for HAVELLS, BSE:517354 Havells India Ltd.

Havells India Ltd.

21 Oct 2021

1504.00

-2.31%

Q2FY22 Result Update - Strong demand outlook despite inflationary environment - ACCUMULATE

Accumulate: Havells India Ltd.

Target

Prabhudas Lilladhar

Price hikes likely given RM volatility; margins seem to have bottomed out We increase our FY22-FY24 earnings estimate by 2-4% given resilient demand momentum despite an inflationary environment given 1) robust festive season build-up 2) strong housing segment demand 3) healthy traction in...

Havells India Ltd. is trading below all available SMAs

Havells India Ltd.

21 Oct 2021

1504.00

-2.31%

Strong volume led revenue growth

Buy: Havells India Ltd.

Target

ICICI Securities Limited

Havells reported healthy revenue growth of 31.7% YoY. However, the gross margin was down 605bps YoY due to (1) revenue mix deterioration, (2) steep commodity inflation and (3) lag effect of price hikes. The company benefitted from revival in economy and higher infrastructure spending. Profitability of Lloyd segment remained under stress even in Q2FY22 due to higher input prices and negative operating leverage.

Havells India Ltd. has an average target of 1693.00 from 7 brokers.

Havells India Ltd.

21 Oct 2021

1504.00

-2.31%

Margin normalization to limit earnings growth

Neutral: Havells India Ltd.

Target

Motilal Oswal

Havells India (HAVL)'s 2QFY22 earnings were 8% below our expectations despite the topline beat of 5%. Key operating parameters confirm our thesis of margin normalization from highs of FY21 even amid a strong demand environment. We expect the trend to continue over the next 23 quarters leading to strong topline growth, but muted EBITDA/earnings growth. Key positives include a) volume growth (ex-Cables) in the double digits, which is likely to sustain over the next few quarters; b) an uptick in the B2B business, with volume growth reflecting in Cables hereafter; and c)...

Number of FII/FPI investors increased from 866 to 876 in Jun 2025 qtr.

Havells India Ltd.

28 Jul 2021

1504.00

-2.31%

HAVELLS INDIA LTD

Sell: Havells India Ltd.

Target

Geojit BNP Paribas

Havells India Ltd (HAVL) is a leading player in electrical consumer goods in India. Its key verticals include switchgears, cables & wires, lighting fixtures and consumer appliances. Q1FY22 Revenue & PAT grew by 76% & 270% YoY, led by strong...

Havells India Ltd. is trading below all available SMAs

Havells India Ltd.

23 Jul 2021

1504.00

-2.31%

Havells India

Buy: Havells India Ltd.

Target

ICICI Securities Limited

Number of FII/FPI investors increased from 866 to 876 in Jun 2025 qtr.

Havells India Ltd.

12 Jul 2021

1504.00

-2.31%

New launches, rural expansion intact in a COVID-disrupted year

Neutral: Havells India Ltd.

Motilal Oswal

New launches, rural expansion intact in a COVID-disrupted year HAVL's FY21 Annual Report emphasizes on operations in a COVID-19 disrupted year. The management continued to focus on expanding distribution, particularly in rural areas, and launching newer and innovative products. All these measures led to HAVL's capitalizing on pent up demand arising post the lifting of lockdown restrictions,...

Havells India Ltd. has lost -27.05% in the last 1 Year

Havells India Ltd.

25 May 2021, 12:00AM

1504.00

-2.31%

HAVELLS INDIA LTD

Sell: Havells India Ltd.

Target

Geojit BNP Paribas

Q4FY21 Revenue & PAT grew by 50% & 71% YoY, led by broad based growth across the segments on account strong demand recovery in consumer and B2B business. EBITDA margin improved by 410bps YoY to 15.2% led by scale benefits, product mix, price hikes and cost rationalisation. We continue to like HAVL as a complete player in electrical & consumer durables products with strong brand recall, distribution strength and leadership position in almost all the products....

Number of FII/FPI investors increased from 866 to 876 in Jun 2025 qtr.

Havells India Ltd.

22 May 2021

1504.00

-2.31%

Havells India

Buy: Havells India Ltd.

Recommendation Target

ICICI Securities Limited

We model revenue CAGR of 18% in FY21-23E led by 22% and 17% revenue CAGR of ECD and Lloyd business, respectively. We believe Havells' focus on strengthening Lloyd brand and reducing dependency on single products (by increased focus on refrigerators, washing machines) would help drive sales of Lloyd, going forward. Besides, Industrial products such as cable, switchgear would also grow at CAGR of 15% led by increased government...

Havells India Ltd. is trading below all available SMAs

Havells India Ltd.

22 May 2021

1504.00

-2.31%

Core portfolio delivers strongly; Lloyd fares below expectations

Neutral: Havells India Ltd.

Target

Motilal Oswal

Havells (HAVL)'s 4QFY21 revenue grew a strong 50% YoY (two-year CAGR: 10%), with the recovery seen in 3QFY21 sustaining in 4QFY21 as well. The company continued to accrue market share gains in its core portfolio at the cost of the unorganized sector. The core portfolio reported a two-year CAGR of 11% and Lloyd posted a two-year CAGR of 5%. Lloyd performed below our expectations, with sequential growth of just 15% QoQ v/s strong growth by peers such as Voltas and Blue Star going into the summer season. This was despite Lloyd's full-year performance being fairly...

Havells India Ltd. has an average target of 1693.00 from 7 brokers.

Havells India Ltd.

25 Jan 2021, 12:00AM

1504.00

-2.31%

HAVELLS INDIA LTD

Sell: Havells India Ltd.

Recommendation Target

Geojit BNP Paribas

Q3 Revenue & PAT grew by 40% & 74% YoY, led by festive & pentup demand, restriction in imports and market share gains. EBITDA margin improved by 430bps YoY to 16% led by scale benefits, product mix, price hikes and cost rationalisation. We upgrade our EPS estimates by 27% & 18% for FY21E & FY22E, given sharp turnaround in earnings. A complete player in electrical & consumer durables products with strong brand recall, distribution strength and leadership position in...

ICICI Securities Limited released a Buy report for Havells India Ltd. with a price target of 1800.0 on 12 Sep, 2025.

Is Havells India Ltd. worth buying?

410 Votes:

Buy 73.17%

Sell 17.32%

Hold 9.51%

RESEARCH REPORTS

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