NSE: HAVELLS | BSE: 517354

Expensive Performer

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1503.50 1.20 (0.08%)

424.3K NSE+BSE Volume

NSE 08 Oct, 2025 3:31 PM (IST)

94,260.7

Market Cap

Market Runner Up

0.9

Beta 1Year

Low volatility

Board Meeting

The next board meeting for Havells India Ltd. is on 17 Oct 2025 for the purpose of Quarterly Results See details

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.

29 Jul 2019

1503.50

0.08%

Havells - 1QFY20 Result Update

Hold: Havells India Ltd.

Recommendation Target

Reliance Securities

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

Havells India Ltd.

29 Jul 2019

1503.50

0.08%

Lloyd facing stiff competition

Neutral: Havells India Ltd.

Target

Motilal Oswal

Another quarter of revenue pressure: Revenues continued disappointing for the second consecutive quarter, with growth of meager 4.5% YoY to INR27.1b (10% miss). EBITDA too declined 11.7% YoY to INR2.8b (24% miss), with the margin contracting 180bp YoY to 10.2%. Other income came in higher than our estimate at INR397m. However, the tax rate stood at 34%...

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

Havells India Ltd.

29 Jul 2019

1503.50

0.08%

EARNINGS UPDATE-HAVELLS 1QFY20

Buy: Havells India Ltd.

Target

Chola Wealth Direct

Background: HIL is one of India's largest & fastest growing electrical and power distribution equipment manufacturers with products ranging from industrial & domestic circuit protection switchgear, cables & wires, motors, fans, power capacitors, CFL lamps, luminaries for domestic, commercial & industrial applications, modular switches, water heaters and domestic appliances covering the entire gamut of household electrical needs along with industry lights and cables. Havells owns some of the prestigious...

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

Havells India Ltd.

29 Jul 2019

1503.50

0.08%

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....

Havells India Ltd. is trading below all available SMAs

Havells India Ltd.

06 Jun 2019

1503.50

0.08%

Havells India Ltd: Growth Across Segments Offset by Lower Margins

Sell: Havells India Ltd.

Recommendation

Karvy

Growth Across Segments Offset by Lower Margins: Havells Q4 had a lower growth of 8.6% YoY due to decline in Lloyd revenues and subordinate growth in ECD business. Both the businesses were impacted by lower consumer demand intensified by liquidity crunch, general elections and delayedsummer.

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

Havells India Ltd.

30 May 2019

1503.50

0.08%

Havells India (4QFY19): Seasonality blip. Maintain NEUTRAL

Neutral: Havells India Ltd.

Target

HDFC Securities

In FY19, Havells attained great success in its ECD segment (up 30% despite a base of 21% in FY18) which consistently led to revenue beat. However, EBITDA growth was challenged (14%). In FY20, we expect the co. to continue to scale its new launches, improve Lloyd's performance and benefit from higher B2B spend. We also expect segment margins to revive (FY17-FY18 band) resulting in robust EBITDA growth. We don't expect a re-rating in the stock (high implied valuation for ECD) and believe most near term positives are factored in the stock Havells 4Q performance was weak owing to extended winter and liquidity crunch in the trade. We believe the slowdown is short-lived (led by stable government, hot summer 2019 and recovery in trade liquidity) and Havells will resume its outperformance. We maintain our NEUTRAL stance as we believe most of the near-term positives are priced-in. We value at 36x on Mar-21 EPS, arriving at a TP of Rs 743.

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

Havells India Ltd.

30 May 2019

1503.50

0.08%

Havells India

Hold: Havells India Ltd.

Recommendation

ICICI Securities Limited

Havells' Q4FY19 topline growth at ~9% YoY (I-direct estimate: 15%) was largely impacted by liquidity crunch, extended winters and impending general elections. Lloyd business revenue declined ~9% YoY to | 532 crore while lighting and ECD business growth were subdued at 7% and 9%, respectively. Lower demand coupled with intense competition has restricted the company from passing on inflationary pressure, resulting in a slight contraction in gross margin. Also, higher fixed cost dented EBITDA margin (down ~240 bps) higher than our estimate. Though the management guided...

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

Havells India Ltd.

30 May 2019

1503.50

0.08%

Havells - 4QFY19 Result Update

Havells India Ltd.

Reliance Securities

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

Havells India Ltd.

30 May 2019

1503.50

0.08%

HAVELLS INDIA LTD

Sell: Havells India Ltd.

Target

Geojit BNP Paribas

We lower our earning estimates by 11% & 8% for FY20E & FY21E to factor in near impact on earnings. Despite this, we expect earnings to grow by 23% CAGR over FY19-21E. We roll forward to FY21E and value HAVL at 36x (historical average) given its high brand recall, strong retail presence and strong balance...

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

Havells India Ltd.

29 May 2019

1503.50

0.08%

Margin pressure in near term

Neutral: Havells India Ltd.

Recommendation Target

Motilal Oswal

consumption and liquidity crunch impacted business with the situation continuing into April-May. Overhang of the recently concluded elections also impacted revenue. 4QFY19 revenue growth stood at 9%, while EBITDA margin was down 240bp to 11.7%. Adj. PAT declined 12% YoY to INR2.1b. FY19 marked by strong revenue growth, but challenges on margin front: Overall, FY19 was marked by robust revenue growth; overall revenues grew 23.6%, with Havells (ex-Lloyd) at 22% (4QFY19: 14%). The company surpassed INR100b revenue this year. Segment wise cables grew 24%,...

Havells India Ltd. is trading below all available SMAs

Is Havells India Ltd. worth buying?

413 Votes:

Buy 73.37%

Sell 17.19%

Hold 9.44%

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