Financial & Valuation Intelligence™
Havells India Limited
NSE
HAVELLS
Sector: Industrials· Electrical Equipment & PartsCurrent Price
₹1,010.9
Market Cap
₹64.66K Cr
AI Financial Summary
Havells India Limited maintains a robust financial profile with consistent double-digit top-line growth and superior capital efficiency, though current market valuations suggest a significant premium relative to calculated intrinsic value.
Business Performance (CAGR)
10 Years
Revenue
15.6%
PAT
14.6%
EPS
14.6%
Book Value
12.4%
Free Cash Flow
13.6%
Valuation Snapshot
P/E44.2
P/B7.9
EV/EBITDA27.9
P/S2.9
Div Yield0.97%
Financial Health
Debt to Equity0.03
Interest Coverage29x
Current Ratio1.51
Cash & Investments₹3.25K Cr
Profitability Metrics
ROE
17.9%
ROCE
23.5%
ROA
11.5%
EBITDA Mgn
9.9%
Op Margin
10.2%
Net Margin
7.5%
Cash Flow Intelligence
Operating Cash Flow₹1.57K Cr
Free Cash Flow₹125 Cr
Cash Conversion93.0%
FCF Margin0.6%
Intrinsic Value
PremiumEstimated Intrinsic Value
████████
Current Price₹1,010.9
Margin of Safety██.██%
Estimated Intrinsic Value & DCF Fair Value are available with Premium plans.
AI Business Verdict
Havells India is a high-quality, financially stable business with an impressive growth trajectory, but current market valuations are high, requiring a long-term horizon to justify the premium price.
- Industry-leading balance sheet with minimal debt
- Consistent 15%+ CAGR in revenue and profits
- High return on capital employed (ROCE) consistently above 23%
- Strong historical track record of business quality
Balance Sheet
AI-Powered Analysis
Balance Sheet Strength™
76/100
Strong
Havells India Limited shows a strong balance sheet with healthy liquidity, moderate leverage and steady equity compounding.
AI Confidence
92%
Stability
72
Flexibility
92
Strength Factors
Liquidity67
Leverage96
Working Capital68
Asset Quality59
Shareholder Strength79
Financial Stability72
Financial Flexibility™
92/100
Excellent
Capacity to fund growth, withstand downturns and return capital.
Total Assets
₹14.75K Cr
▲ 0.5% YoY
Total Liabilities
₹5.29K Cr
▼ 16.7% YoY
Shareholder Equity
₹9.46K Cr
▲ 13.6% YoY
Net Cash Position
+₹2.99K Cr
Excellent
Debt / Equity
0.03x
Very Low
Enterprise Value
₹61.68K Cr
Capital Structure
Assets
₹14.75K Cr
Equity
₹9.46K Cr (64.1%)
Liabilities
₹5.29K Cr (35.9%)
Debt Intelligence™
Debt vs Cash Trend
Debt / Equity0.03x
Interest Coverage29.0x
Debt / EBITDA0.16x
Net Debt₹-2.99K Cr
Debt Trend (5Y)4.9%
Debt MaturityWell Staggered
Liquidity Intelligence™
Current Ratio1.51
Quick Ratio0.63
Cash Ratio0.45
Working Capital₹2.57K Cr
Operating Cash CoverageExcellent
Short-term LiquidityGood
Working Capital Intelligence™
CCC Trend
Receivable Days13
Inventory Days72
Payable DaysNot Available
Cash Conversion Cycle85 days
Asset Quality (% of Total Assets)
Cash & Investments16.0%
Property, Plant & Equip.36.2%
ReceivablesNot Available
InventoryNot Available
GoodwillNot Available
Intangible AssetsNot Available
Other Assets60.8%
Shareholder Strength™
Strength Radar
Book Value CAGR (5Y)12.4%
Net Worth CAGR (5Y)12.5%
Retained EarningsStrong
Equity Dilution0.00%
Buyback EfficiencyStrong
Dividend Sustain.Strong
Balance Sheet Evolution
Annual
Balance Sheet Risk Monitor
Debt RiskLow
Liquidity RiskModerate
Working Capital RiskModerate
Refinancing RiskLow
Asset Quality RiskElevated
Dilution RiskLow
Contingent LiabilityLow
Overall Balance Sheet RiskModerate
Balance Sheet Stress Test™
Economic Slowdown72
Acquisition Capacity93
High Interest Rates96
Dividend Sustainability85
Revenue Decline79
Cash Flow Resilience84
Expansion Capacity86
Overall Resilience Score
85/100
Strong Resilience
AI Balance Sheet Commentary
Overall Assessment
- Havells India Limited shows a strong balance sheet with healthy liquidity, moderate leverage and steady equity compounding.
What Stands Out
- Net cash position — debt fully covered by cash & investments
- Large cash & investment reserves
- Very low leverage with net cash balance
- Strong shareholder equity growth
- High interest coverage
Areas To Monitor
- Large 'other assets' bucket — investigate composition
Financial data based on consolidated numbers and TTM · Source: Company Filings, Annual Report AI Analysis · Data as of: 31/03/2026