How has Havell's India Ltd. (HAVELLS) been performing? We dig into revenue, profitability, valuation, and ownership trends.
Havells India Revenue Trend
At ₹22,528 Cr, Havell's India Ltd.'s FY2026 revenue was 3.4% ahead of the ₹21,778 Cr posted in FY2025.
The 10-year revenue CAGR of 11.3% is a good number — Havell's India Ltd.'s top line has expanded meaningfully from ₹7,714 Cr to ₹22,528 Cr.
In terms of scale, Havell's India Ltd.'s ₹22,528 Cr in annual revenue positions it as a major electrical equipment company.
Revenue has moved in the same direction for 6 years running, suggesting the growth trend has structural legs.
| Year | Revenue | YoY % |
|---|---|---|
| FY2026 | ₹22,528 Cr | +3.4% |
| FY2025 | ₹21,778 Cr | +17.1% |
| FY2024 | ₹18,590 Cr | +9.9% |
| FY2023 | ₹16,911 Cr | +21.3% |
| FY2022 | ₹13,938 Cr | — |
View Havell's India Ltd.'s full 10-year revenue trend with CAGR analysis →
Havells India Profitability
Profitability strengthened with net income of ₹1,689 Cr in FY2026, 14.9% higher than FY2025.
On the margin front, there's improvement — net margin went from 6.8% in FY2025 to 7.5% in FY2026.
Looking at per-share numbers, diluted EPS was ₹26.94 in FY2026 — up from ₹23.48.
Is Havells India Undervalued
Havell's India Ltd. shares are currently trading at ₹1,285.00.
Craytheon calculates intrinsic value using the P/E Ratio, DCF, and EPS Growth models. All three appear in the Valuation Models cards below.
Valuation Models
Havells India Shareholding Pattern
Promoters continue to hold 59.4% of the company, unchanged over recent quarters.
As of June 2026, FIIs own 15.9% of the company — down from 19.3% a year earlier.
DII ownership is at 18.3%, up from the 15.5% recorded a year ago.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Jun 2026 | 59.4% | 15.9% | 18.3% | 6.5% |
| Mar 2026 | 59.4% | 16.9% | 17.7% | 6.0% |
| Dec 2025 | 59.4% | 18.0% | 16.7% | 6.0% |
| Sep 2025 | 59.4% | 19.3% | 15.5% | 5.8% |
Track quarterly shareholding changes for Havell's India Ltd. →
Havells India Balance Sheet
Proportional view as of 3 Aug 2026. Hover blocks for details.
Assets
Liabilities & Equity
Total assets stood at ₹147.46B at the end of FY2026, up 6.8% from ₹138.09B a year earlier.
Inventories is the largest block at 30.1%, followed by Property, Plant & Equipment at 28.8% and Cash & ST Investments at 16.0%.
Equity makes up 64.2% of liabilities and equity, with debt at 1.8% and operating liabilities at 34.0%. Over the year, debt is down 16.7% and equity is up 13.5%.
Balance sheet composition — FY 2026
| Category | Value |
|---|---|
| Cash & ST Investments | 23.64B |
| Receivables | 7.90B |
| Inventories | 44.41B |
| Property, Plant & Equipment | 42.53B |
| Investments | 8.88B |
| Intangibles & Goodwill | 15.30B |
| Other Assets | 4.82B |
| Category | Value |
|---|---|
| Equity | 94.69B |
| Short-term Debt | 772.40M |
| Long-term Debt | 1.88B |
| Trade Payables | 29.08B |
| Other Liabilities | 21.04B |
Havells India — The Bottom Line
Pulling it all together, here's what the numbers say about Havell's India Ltd. (HAVELLS) heading into the next fiscal year.
Revenue of ₹22,528 Cr in FY2026, up 3.4% year-over-year.
Long-term revenue has been compounding at 11.3% annually over 10 years.
The company is profitable, with a net margin of 7.5% and net income of ₹1,689 Cr.
Unlock Full Analysis
There's more to the story. Craytheon's full profile for Havell's India Ltd. includes three valuation models, decade-long financials, and insider activity.