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Havells India share price

Havells India Ltd.

NSE: HAVELLS BSE: 517354 SECTOR: Electric Equipment  328k   2k   406

1673.00
-0.65 (-0.04%)
BSE: Today, 03:32 PM

Price Summary

Today's High

₹ 1681.4

Today's Low

₹ 1656.2

52 Week High

₹ 2104.95

52 Week Low

₹ 1280.2

FinStar

Ownership Stable
Ownership strength is slightly missing the benchmark.
ValuationExpensive
The stock is at a premium valuation at this point.
EfficiencyExcellent
The company knows very well the utilization of its assets.
FinancialsVery Stable
The company possesses stable growth history and manageable debt.
*It is just an analytical rating of the company and not an investment advice.

Company Essentials

Market Cap

104887.35 Cr.

Enterprise Value

101871.93 Cr.

No. of Shares

62.69 Cr.

P/E

73.84

P/B

13.46

Face Value

₹ 1

Div. Yield

0.54 %

Book Value (TTM)

₹  124.3

CASH

3015.42 Cr.

DEBT

0 Cr.

Promoter Holding

59.41 %

EPS (TTM)

₹  22.66

Sales Growth

9.97%

ROE

18.13 %

ROCE

25.53%

Profit Growth

18.44 %

* Total debt includes long term borrowing, short term borrowing plus current maturities of long-term borrowing
* Ratios are based on latest Audited Financial Result.

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Brands

These are the brands of Havells India Ltd.

LLOYD Crabtree Standard REO

Index Presence

The company is present in 38 Indices.

Price Chart 1d 1w 1m 3m 6m 1Yr 3Yr 5Yr

 

Volume Chart 1d 1w 1m 3m 6m 1Yr 3Yr 5Yr

* Prices are based on daily market changes.
* The chart is based on the standalone earnings of the company. * Negative values and values more than 1000x in PE chart is considered 0.

Peer Comparison

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* The Peers list includes companies operating in the same industry and having comparable market cap.

 Group Companies

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Ratios

Sales Growth

1 Year9.97%
3 Year21.17%
5 Year13%

Profit Growth

1 Year18.44%
3 Year6.99%
5 Year10.09%

ROE%

1 Year18.13%
3 Year18.87%
5 Year19.17%

ROCE %

1 Year25.53%
3 Year25.48%
5 Year25.79%

Debt/Equity

0

Price to Cash Flow

53.54

Interest Cover Ratio

21.3213

CFO/PAT (5 Yr. Avg.)

1.08194809201665

Shareholding Pattern

Promoter Pledging %

Date Promoter % Pledge %
Sep 2024 59.41 0.00
Jun 2024 59.41 0.00
Mar 2024 59.43 0.00
Dec 2023 59.43 0.00
Sep 2023 59.43 0.00
Investors List
* Figures given above are % of equity capital

 Strengths

  • The company has shown a good revenue growth of 21.1659132985737% for the Past 3 years.
  • Company has been maintaining healthy ROCE of 25.4831171647928% over the past 3 years.
  • Company is virtually debt free.
  • Company has a healthy Interest coverage ratio of 21.3213.
  • The company has an efficient Cash Conversion Cycle of 10.2987 days.
  • The company has a good cash flow management; CFO/PAT stands at 1.08194809201665.
  • The company has a high promoter holding of 59.41%.

 Limitations

  • The company has shown a poor profit growth of 6.98897335567612% for the Past 3 years.
  • The company is trading at a high PE of 73.84.
  • The company is trading at a high EV/EBITDA of 43.8083.

Quarterly Result (All Figures in Cr.)

PARTICULARS Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Net Sales 3891.24 4400.62 5434.34 5798.11 4532.99
Total Expenditure 3517.75 3968.01 4797.53 5221.91 4152.97
Operating Profit 373.49 432.61 636.81 576.2 380.02
Other Income 52.39 55.94 75.71 77.03 92.76
Interest 9.33 10.2 17.71 8.55 10.08
Depreciation 81.18 87.66 93.37 92.01 94.62
Exceptional Items 0 0 0 0 0
Profit Before Tax 335.37 390.69 601.44 552.67 368.08
Tax 86.27 102.82 152.58 141.49 95.49
Profit After Tax 249.1 287.87 448.86 411.18 272.59
Adjusted EPS (Rs) 3.97 4.59 7.16 6.56 4.35

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Net Sales 9429.2 10427.92 13888.53 16868.38 18549.9
Total Expenditure 8370.34 8845.33 12117.58 15246.93 16666.18
Operating Profit 1058.86 1582.59 1770.95 1621.45 1883.72
Other Income 111.98 187.82 160.42 179.87 248.73
Interest 51.2 89.97 66.75 54.96 84.14
Depreciation 217.91 248.86 260.83 296.11 338.48
Exceptional Items 0 0 0 0 0
Profit Before Tax 901.73 1431.58 1603.79 1450.25 1709.83
Tax 168.7 391.94 409.06 375.3 436.62
Net Profit 733.03 1039.64 1194.73 1074.95 1273.21
Adjusted EPS (Rs.) 11.71 16.61 19.08 17.16 20.32

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity and Liabilities
Share Capital 62.58 62.6 62.63 62.65 62.67
Total Reserves 4242.23 5101.85 5926.01 6551.83 7375.78
Borrowings 0 393.65 272.57 0 0
Other N/C liabilities 434.99 504.93 614.64 696.45 702.85
Current liabilities 2308.06 3034.05 3976.17 4166.65 4632.59
Total Liabilities 7047.86 9097.08 10852.02 11477.58 12773.89
Assets
Net Block 3349.42 3290.3 3433.5 3620.57 3987.81
Capital WIP 82.77 86.26 56.75 163.42 296.91
Intangible WIP 3.36 3.65 0.46 2.99 1.79
Investments 1.63 1.63 274.31 20.45 41.18
Loans & Advances 151.27 145.06 126.89 138.47 210.07
Other N/C Assets 25.64 6.75 26.75 156.05 18.31
Current Assets 3433.77 5563.43 6933.36 7375.63 8217.82
Total Assets 7047.86 9097.08 10852.02 11477.58 12773.89
* Other Non-current Liabilities include Net deferred Liabilities

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Profit from operations 901.73 1431.58 1603.79 1450.25 1709.83
Adjustment 184.3 196.27 212.54 217.44 210.45
Changes in Assets & Liabilities -21.47 -698.48 342.04 -711.01 430.81
Tax Paid -239.79 -271.44 -413.8 -391.94 -391.94
Operating Cash Flow 824.77 657.93 1744.57 564.74 1959.15
Investing Cash Flow -547.65 -763.22 -760.1 35.35 -1639.11
Financing Cash Flow -715.9 189.77 -547.34 -906.93 -533.55
Net Cash Flow -438.78 84.48 437.13 -306.84 -213.51

Corporate Actions

Investors Details

PARTICULARS Sep 2023% Dec 2023% Mar 2024% Jun 2024% Sep 2024%
promoters 59.43 59.43 59.43 59.41 59.41
qrg investments and holdi... 41.27 41.26 41.26 41.25 41.25
shri anil rai gupta as ma... 12.35 12.35 12.35 12.35 12.35
shri surjit kumar gupta a... 5.81 5.81 5.81 5.81 5.81
PARTICULARS Sep 2023% Dec 2023% Mar 2024% Jun 2024% Sep 2024%
investors 40.57 40.57 40.57 40.59 40.59
government of singapore - - - 1.33 1.29
government pension fund g... 2.33 2.40 2.40 1.63 1.47
investor education and pr... - - - 0.04 0.06
life insurance corporatio... 3.92 4.13 4.13 3.48 3.50
llp 0.03 0.04 0.03 0.04 0.04
nalanda india equity fund... 5.27 5.27 5.27 4.43 4.12
nps trust- a/c sbi pensio... - 1.31 1.37 1.27 1.57
invesco developing market... 1.01 1.14 1.14 1.06 -
investor education and pr... 0.04 0.04 - - -
nps trust- a/c uti retire... 1.09 - - - -

Ratings & Research Reports

Company Presentations

Company News

Havells India informs about updates 19 Nov, 12:29 PM Havells India to set-up manufacturing facility in Rajasthan 19 Nov, 12:20 PM Havells India informs about updates 4 Nov, 11:39 AM Havells India informs about newspaper clippings 22 Oct, 5:06 PM Havells India informs about newspaper publication 18 Oct, 4:47 PM Havells India’s consolidated net profit rises 7.50% in Q2FY25 18 Oct, 11:28 AM Havells India - Quaterly Results 17 Oct, 2:44 PM Havells India - Quaterly Results 17 Oct, 2:44 PM Havells India - Quaterly Results 17 Oct, 2:44 PM Havells India informs about compliance certificate 7 Oct, 4:11 PM Havells India informs about investor meeting 17 Sep, 1:11 PM Havells launches Studio Meditate AP400, AP250 air purifiers 4 Sep, 3:42 PM Havells India starts commercial production of Cable in Karnataka facility 4 Sep, 11:58 AM Havells India reports 42% rise in Q1 consolidated net profit 18 Jul, 2:58 PM Havells India - Quaterly Results 18 Jul, 2:04 PM Havells India - Quaterly Results 18 Jul, 2:04 PM Havells India - Quaterly Results 18 Jul, 2:04 PM Havells India planning to expand manufacturing capacities of Cables at Alwar 10 Jul, 10:42 AM Havells India to expand existing manufacturing capacities of Air Conditioners 14 Jun, 9:30 AM Havells India informs about press release 10 Jun, 2:45 PM Havells India partners with Jumbo Group 10 Jun, 2:09 PM Havells India - Quaterly Results 30 Apr, 4:15 PM Havells India - Quaterly Results 30 Apr, 4:15 PM Havells India - Quaterly Results 30 Apr, 4:15 PM Havells India informs about change in management 1 Apr, 4:35 PM Havells India plans to expand export markets in residential AC segment 20 Mar, 2:51 PM Havells India informs about press release 20 Mar, 9:34 AM Havells India informs about investor conference 11 Mar, 12:22 PM Havells India informs about disclosure 8 Mar, 3:44 PM Havells India planning to expand existing product portfolio 6 Mar, 10:40 AM Havells India informs about loss of share certificates 6 Mar, 10:16 AM Havells India launches energy efficient ‘Heat pump water heaters’ 31 Jan, 5:50 PM Havells India gets nod to make investment in Havells International Inc 30 Jan, 11:52 AM Havells India reports marginal rise in Q3 consolidated net profit 24 Jan, 10:40 AM Havells India - Quaterly Results 23 Jan, 6:59 PM Havells India - Quaterly Results 23 Jan, 6:59 PM Havells India informs about board meeting 15 Jan, 12:16 PM Havells India informs about press release 15 Dec, 2:50 PM Havells India launches consumer durable brand ‘Lloyd’ in Middle East Market 28 Nov, 5:51 PM Havells India informs about allotment of shares under ESPS 1 Nov, 12:24 PM Havells India informs about conference call 20 Oct, 4:55 PM Havells India reports 33% rise in Q2 consolidated net profit 19 Oct, 6:34 PM Havells India - Quaterly Results 19 Oct, 5:09 PM Havells India - Quaterly Results 19 Oct, 5:09 PM Havells India - Quaterly Results 19 Oct, 5:09 PM Havells India informs about press release 5 Oct, 4:57 PM Havells India unveils Dual Mode Micro Inverter 5 Oct, 12:19 PM Havells India informs about transcript of earnings call 26 Jul, 12:28 PM Havells India informs about earnings call 20 Jul, 4:52 PM Havells India reports 18% rise in Q1 consolidated net profit 20 Jul, 2:30 PM

Havells India Stock Price Analysis and Quick Research Report. Is Havells India an attractive stock to invest in?

Stock investing requires careful analysis of financial data to determine a company's true net worth. This is generally done by examining the company's profit and loss account, balance sheet and cash flow statement, which can be time-consuming and cumbersome.

Examining a company's financial ratios is an easier way to determine its performance, which can help to make sense of the overwhelming amount of information in its financial statements. 

Here are a few indispensable ratios that should be a part of every investor’s research process, or, in simpler words, how to analyse Havells India . 

  • PE ratio: Price to Earnings ratio, which indicates how much an investor is willing to pay for a share for every rupee of earnings. A general rule of thumb is that shares trading at a low P/E are undervalued (it depends on other factors too). Havells India has a PE ratio of 73.9884188969706 which is high and comparatively overvalued .

  • Share Price: - The current share price of Havells India is Rs 1676.4. One can use valuation calculators of ticker to know if Havells India share price is undervalued or overvalued.

  • Return on Assets (ROA): - Return on Assets measures how effectively a company can earn a return on its investment in assets. In other words, ROA shows how efficiently a company can convert the money used to purchase assets into net income or profits. Havells India has ROA of 10.5001 % which is a bad sign for future performance. (higher values are always desirable)

  • Current ratio: - The current ratio measures a company's ability to pay its short-term liabilities with its short-term assets. A higher current ratio is desirable so that the company could be stable to unexpected bumps in business and economy. Havells India has a Current ratio of 1.7739 .

  • Return on equity: - ROE measures the ability of a firm to generate profits from its shareholders' investments in the company. In other words, the return on equity ratio shows how much profit each rupee of common stockholders’ equity generates. Havells India has a ROE of 18.1316 % .(higher is better)

  • Debt to equity ratio: - It is a good metric to check out the capital structure along with its performance. Havells India has a Debt to Equity ratio of 0 which means that the company has low proportion of debt in its capital.

  • Sales growth: - Havells India has reported revenue growth of 9.9685 % which is poor in relation to its growth and performance. 

  • Operating Margin: - This will tell you about the operational efficiency of the company. The operating margin of Havells India for the current financial year is 10.1548795411296 %.

  • Dividend Yield: - It tells us how much dividend we will receive in relation to the price of the stock. The current year dividend for Havells India is Rs 9 and the yield is 0.5371 %.

  • Earnings Per Share: - It tells us how much profit is allocated to to each outstanding share of a common stock. The latest EPS of Havells India is Rs 22.6576 . The higher the EPS, the better it is for investors. 

One can find all the Financial Ratios of Havells India in Ticker for free. Also, one can get the intrinsic value of Havells India by using Valuation Calculators, which are available with a Finology ONE subscription. 

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Brief about Havells India

Havells India Ltd. Financials: Check Share Price, Balance Sheet, Annual Report and Quarterly Results for Company Analysis

Havells India Ltd. occupies a prominent position in the manufacture of electrical equipment within the Indian market. This article is aimed at delivering a thorough examination of Havells India Ltd.'s stock, particularly from a viewpoint that favours long-term investment strategies. We intend to explore several crucial areas, including the evolution of the share price, the company's financial stability as seen in the balance sheet, insights from annual reports, dividend patterns, performance in quarterly results, trends reflected in stock price movements, analysis through price charts, recent developments reported in the news, earnings conference calls (concalls), transcripts of these discussions, investor briefings, information regarding the company's promoters, and the distribution of its shareholders.

Havells India Ltd. Share Price:

The share price of Havells India Ltd. acts as a vital gauge of investor confidence in the company. This price is subject to the impact of diverse elements, including the organization's financial outcomes, the global economic landscape, and prevailing market attitudes. Long-term investors are equipped with our advanced screening tools, designed to facilitate a detailed analysis of Havells India Ltd.'s share price trends and patterns. Demonstrating a steady increase over recent years, the company's share price underscores Havells India Ltd.'s robust brand presence, extensive product offerings, and commitment to customer satisfaction.

Havells India Ltd. Balance Sheet:

Havells India Ltd.'s balance sheet provides crucial information about its financial health. The company's assets include fixed assets, investments, and inventory, while liabilities include borrowings and other liabilities. Equity includes share capital, reserves, and surplus. Long-term investors can use our pre-built screening tools to analyze Havells India Ltd.'s balance sheet and identify any red flags. The company's balance sheet has been strong over the past few years, reflecting the company's ability to generate cash and manage its liabilities.

Havells Reserves  

In the table of analysis of Havells India’s five-year history, overall reserves has been on the rise continually. The company's total reserves was Rs 4, 242.23 crore in March 2020 and increased to Rs 7,375.78 crore as in March 2024. This steady increase committed to the idea of profitability and the company's ability to retain its earnings, bringing confidence to its future growth plans.

Havells Debt Levels  

They have had high volatility of debt but for Havells India the debt level has hugely changed. There were no borrowings in March 2020 and however it raised up to Rs 393.65 crores in March 2021 and in the subsequent year it had come down to Rs 272.57 crores. Interestingly, Havells were able to get off the net debt again by March, 2023 and remained so until March, 2024 to show good financial health.

Havells Assets  

So while total businesses surge from Rs 7,047.86 crores in March, 2020 to Rs 12,773.89 crores by March, 2024. Comparatively, an increase of current assets, earlier it was Rs 3,433.77 crores in March 2020, which reached Rs 8,217.82 crores in March 2024. The increase in the net block assets also demonstrates successive capital substitutions adding up to capital work in progress reaching Rs 296.91 crores in March 2024.

Havells Current Liabilities  

Some consolidation was evidenced by an increase in current liabilities from Rs 2,308.06 crores as of March 2020 to Rs 4,632.59 crores as of March 2024, showing that short-term obligations could be on the increase and hence need strict monitoring.

The following analysis relates only to the balance sheet of Havells India and refers to the most recent fiscal year. Investors interested in equities should try to monitor companies’ fundamentals and compare it to NSE & BSE.

Havells India Ltd. Annual Report:

Havells India Ltd. releases an annual report that provides detailed information about the company's financial performance, strategic initiatives, and future plans. The annual report includes a letter from the Chairman, financial statements, and management discussion and analysis. Long-term investors can download Havells India Ltd.'s annual report from Ticker and use it to make informed investment decisions. The annual report provides valuable insights into the company's operations and financial performance.

Havells India Ltd. Dividend:

Havells India Ltd. pays dividends to its shareholders. The company has a consistent dividend policy and pays dividends regularly. Long-term investors should consider this when evaluating Havells India Ltd.'s stock. Our pre-built screening tools can be used to analyze the company's dividend history and identify any trends or patterns.

Havells India Ltd. Quarterly Results:

Havells India Ltd. releases its quarterly results every three months. The quarterly results provide information about the company's revenue, earnings, and expenses. Long-term investors can use our pre-built screening tools to analyze Havells India Ltd.'s quarterly results and identify any trends or patterns. The quarterly results are an important indicator of the company's financial health and performance.

Havells India Ltd. Stock Price:

The stock price of Havells India Ltd. is affected by various factors, such as the company's financial performance, global economic conditions, and market sentiment. Long-term investors can use our pre-built screening tools to track Havells India Ltd.'s stock price and identify potential buying opportunities. The stock price of Havells India Ltd. has shown a consistent upward trend over the past few years, reflecting the company's strong brand, product portfolio, and customer focus.

Havells India Ltd. Price Chart:

A price chart provides a visual representation of a company's stock price over a period of time. Long-term investors can use our pre-built screening tools to analyze Havells India Ltd.'s price chart and identify any trends or patterns. The price chart shows that the stock price of Havells India Ltd. has shown a consistent upward trend over the past few years, reflecting the company's strong brand, product portfolio, and customer focus.

Havells India Ltd. News:

Keeping up to date with the latest news about Havells India Ltd. is important for investors. Our website provides the latest news about Havells India Ltd. from various sources, such as financial news websites and social media. Long-term investors can use this information to make informed investment decisions.

Havells India Ltd. Concall:

Havells India Ltd. holds conference calls with analysts and investors to discuss its financial performance and future plans. Long-term investors can listen to Havells India Ltd.'s concall and use the information provided to make informed investment decisions. Our website provides information about upcoming concalls and links to listen to past concalls.

Havells India Ltd. Transcripts:

Our website provides transcripts of Havells India Ltd.'s concalls. Long-term investors can download the transcripts and analyze the company's financial performance and future plans. The transcripts provide valuable insights into the company's operations and financial performance.

Havells India Ltd. Investor Presentations:

Havells India Ltd. provides investor presentations on its website. These presentations provide information about the company's financial performance, strategic initiatives, and future plans. Long-term investors can download Havells India Ltd.'s investor presentations from our website and use them to make informed investment decisions. The investor presentations provide valuable insights into the company's operations and financial performance.

Havells India Ltd. Promoters:

Promoters are individuals or entities that have a significant stake in a company. Havells India Ltd.'s promoters include QRG Enterprises, Havells India Limited, and Promoter Group. Long-term investors can use our pre-built screening tools to analyze Havells India Ltd.'s promoter holdings and identify any potential conflicts of interest. The promoter holdings of Havells India Ltd. are relatively stable, which is a positive sign for long-term investors.

Havells India Ltd. Shareholders:

Havells India Ltd. has a large number of shareholders, including institutional investors and individual investors. Long-term investors can use our pre-built screening tools to analyze Havells India Ltd.'s shareholder base and identify any potential risks or opportunities. The shareholder base of Havells India Ltd. is diverse, which is a positive sign for long-term investors.

Havells India Ltd. Premium Features:

Our website provides premium features tools such as DCF Analysis, BVPS Analysis, Earnings multiple approaches, and DuPont analysis. These tools can help long-term investors make better investment decisions by providing more detailed insights into the company's financial performance and valuation.

Havells India Limited ROCE

The Return on Capital Employed (ROCE) is a key ratio that measures the profitability and efficiency of Havells India Limited. It indicates how effectively the company utilizes its capital to generate returns. The ROCE ratio is calculated by dividing the company's Earnings Before Interest and Taxes (EBIT) by the Capital Employed, which includes both equity and debt. You can find the detailed ROCE data for Havells India Limited in the financials table or ratio section on this page. Analyzing the ROCE ratio can provide insights into the company's ability to generate profits from its investments.

Havells India Limited EBITDA

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. This ratio is an important measure of Havells India Limited's operating performance and cash flow generation. EBITDA reflects the company's profitability before accounting for interest, taxes, and non-cash expenses. By analyzing the EBITDA ratio, investors can assess Havells India Limited's ability to generate earnings from its core operations. You can find the EBITDA data for Havells India Limited in the financials table or ratio section on this page.

Havells India Limited DPS

Dividends Per Share (DPS) is a key metric that indicates the amount of profits Havells India Limited distributes to its shareholders in the form of dividends. This ratio provides insights into the company's dividend policy and its willingness to share profits with investors. DPS is calculated by dividing the total dividends paid by the number of outstanding shares. You can find the DPS data for Havells India Limited in the financials table or ratio section on this page. Analyzing the DPS ratio helps investors evaluate the company's dividend payments and potential returns.

Havells India Limited EPS

Earnings Per Share (EPS) is a crucial ratio that measures the profitability of Havells India Limited on a per-share basis. It is calculated by dividing the company's net earnings by the number of outstanding shares. EPS reflects the portion of Havells India Limited's profits attributable to each shareholder. By analyzing the EPS ratio, investors can assess the company's profitability and earnings growth potential over time. You can find the detailed EPS data for Havells India Limited in the financials table or ratio section on this page. Evaluating the EPS ratio helps investors make informed decisions regarding investing in the company's shares.

Havells India Revenue Analysis

Havells India’s operating revenue increased to Rs  4,532.99 crore during Q2 FY25 Sep 2024 compared to Rs  3,891.24 crore Q2 FY24. However, it was down by 21.8 % over Rs 5,798.11 crore in Q1 FY25 mainly on account of seasonal factors as far as revenue combination is concerned.

Havells India Profit Margins

The operating profit of the company for the Q2 FY25 was at Rs 380.02 crude, stronger than the Rs 373.49 crude in Q2 FY24, but 34.1% lower than Q1 FY25 of Rs 576.20 crore. This drop was affected by the enhancement of the expenditure, as expenditure in Q2 was Rs 4,152.97 whereas it in Q2 FY24 was Rs 3,517.75 crore.

Havells India Gross Profit Analysis

Havells India posted a Profit After Tax (PAT) of Rs 272.59 crore for the quarter ended September 2021, up by 9.4% when compared to Rs 249.10 crore of the immediate previous year Q2, ending September 2020. But, PAT was declined 33.7% to Rs 411.18 crore for Q1 FY25. Even, the Q2 FY25 PAT came down to Rs 242.96 crore and the adjusted EPS was Rs 4.35.

Havells India Profit Before Tax

The company’s Q2 FY25 PBT was Rs 368.08 crore, up Rs 335.37 crore of Q2 FY24, although down on the Rs 552.67 crore of Q1 FY25 due to higher depreciation and tax expenses.

The following analysis has been drawn with reference to Standalone Quarterly Results of Havells India. Havells India being a leader in electrical equipment is important for investors studying industrial and consumer durables industries.

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