NSE: HAVELLS | BSE: 517354

Expensive Performer

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1454.00 -14.00 (-0.95%)

565.1K NSE+BSE Volume

NSE 19 Nov, 2025 1:13 PM (IST)

91,157.3

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.

23 Apr 2025

1454.00

-0.95%

Robust Q4 performance, margins steady; maintaining a Buy

Buy: Havells India Ltd.

Target

Anand Rathi

Havells’ robust Q4 results were led by strong, 21% y/y, growth in cables and Lloyd’s 39% y/y revenue increase. We expect cost-saving steps and operating leverage to expand margins and profitability for Lloyd. The ramp-up of the new cable capacity will further add to growth.

Havells India Ltd. has an average target of 1653.29 from 7 brokers.

Havells India Ltd.

23 Apr 2025

1454.00

-0.95%

Strong performance, partially led by higher trade up-stocking

Buy: Havells India Ltd.

Target

ICICI Securities Limited

Havells reported stronger-than-expected Q4FY25, partially led by higher trade inventory up-stocking in air conditioners. There is strong revenue growth of 39% in Lloyd. While there is healthy growth in primary sales, the company believes there is a possibility for slowdown in secondary sales in Q1FY26.

Havells India Ltd. is trading below all available SMAs

Havells India Ltd.

23 Apr 2025

1454.00

-0.95%

Havells India (HAVL IN) Q4FY25 Result Update Cables...

Hold: Havells India Ltd.

Target

Prabhudas Lilladhar

Lloyd reported growth of 39.5% YoY, aided strong volume gr. in RAC segment. We downward revise Havells India's (HAVL) FY26/FY27E earnings by 2.0%/2.6% to factor in the soft margins commentary related Cable & Lloyd businesses and downgrade our recommendation to HOLD' from BUY', in view of the significant run-up in stock price in the near past. Havells reported strong results, primarily driven by robust growth in the Cables and Lloyd segments, though future momentum appears cautious. RAC segment expected limited growth due to delayed summer, high primary sales in Q4FY25, and slowdown...

Havells India Ltd. is trading below all available SMAs

Havells India Ltd.

22 Apr 2025

1454.00

-0.95%

Steady margins; Llyod and cable drive growth

Neutral: Havells India Ltd.

Target

Motilal Oswal

Havells India (HAVL)’s 4QFY25 revenue grew 20% YoY to INR65.4b (5% beat), led by better-than-expected growth in the Lloyd/C&W segments. Higher margins in the Lloyd and ECD segments have resulted in ~19% YoY EBITDA growth to INR7.6b (+17% vs. our est.).

Havells India Ltd. is trading below all available SMAs

Havells India Ltd.

27 Mar 2025

1454.00

-0.95%

Aims to sustain profitability amid market challenges

Neutral: Havells India Ltd.

Target

Motilal Oswal

We met with Havells’ (HAVL) management to gain insights into industry trends and the outlook for key business segments. The management remains optimistic about growth prospects across core categories, supported by margin improvement initiatives.

Number of FII/FPI investors decreased from 876 to 841 in Sep 2025 qtr

Havells India Ltd.

25 Feb 2025

1454.00

-0.95%

EBITDA margin in FY25E below Mean- 1 standard deviation in past 15 years; model mean reversion ahead

Buy: Havells India Ltd.

Target

ICICI Securities Limited

Havells’ EBITDA margin has declined from 12.6% in FY10 to 9.9% in FY24 and we model it to be 9.3% in FY25E. There are structural as well as cyclical/transitory reasons for the margin contractions.

Havells India Ltd. is trading below all available SMAs

Havells India Ltd.

19 Feb 2025, 12:00AM

1454.00

-0.95%

HAVELLS INDIA LTD

Buy: Havells India Ltd.

Target

Geojit BNP Paribas

Havells India Ltd.'s price crossed below 30Day SMA today

Havells India Ltd.

22 Jan 2025

1454.00

-0.95%

HAVELLS INDIA LTD.

Sell: Havells India Ltd.

Ventura

High valuation unwarranted in competitive FMEG market

Number of FII/FPI investors decreased from 876 to 841 in Sep 2025 qtr

Havells India Ltd.

18 Jan 2025, 12:00AM

1454.00

-0.95%

Feeble Q3 performance, but on the right track; maintaining a Buy

Buy: Havells India Ltd.

Target

Anand Rathi

Fluctuating commodity prices dented domestic wire growth, resulting in overall moderated Q3 revenue growth for Havells. The festival season, though, saw improved demand. Investments in brand-building and talent were elevated in Q3, but are likely to stabilise; thus, better margins are
expected ahead with growth coming in.

Number of FII/FPI investors decreased from 876 to 841 in Sep 2025 qtr

Havells India Ltd.

17 Jan 2025

1454.00

-0.95%

Healthy revenue growth; margin a bit lower

Neutral: Havells India Ltd.

Target

Motilal Oswal

Havells India (HAVL)’s 3QFY25 revenue grew 11% YoY to INR49b (in line) as better-than-expected growth in the ECD/Switchgear segments was offset by lower revenue from the C&W segment

Number of FII/FPI investors decreased from 876 to 841 in Sep 2025 qtr

Is Havells India Ltd. worth buying?

415 Votes:

Buy 73.25%

Sell 17.11%

Hold 9.64%

RESEARCH REPORTS

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Buy SEE REPORTS >

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