Havells India Limited (517354) Fair Value & Analysis
Other · IN · Market cap ₹444B
Fair value as of: Aug 16, 2026
From 26 valuation models · updated today
Share price +10.2% over the past month.
A solid business, but screening 71% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (₹498.62). The favourable scenario is already priced in.
- Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (₹195.86 to ₹498.62) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 16, 2026.
How to read this chart
60‑month range ₹948.10 – ₹2,053 · fair‑value band ₹195.86 – ₹498.62 · the ₹1,298 price screens above the ₹381.02 fair value. Dashed = 300-day average. As of Aug 16, 2026.
Analysis
Havells India Limited (517354) currently trades at ₹1,298, while our model-based Fair Value estimate is ₹381.02, implying the stock looks roughly 70.7% overvalued today. The Quality Score stands at 66/100 (solid quality), in the Other sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Havells India Limited generated revenue of ₹84.3B at a net margin of 9.1%. Revenue grew 10.2% year over year. It earns a return on equity of 17.2%. The stock trades on a trailing P/E of 67.3 (as of Aug 16, 2026). Fundamentals as of Aug 16, 2026
Our scenario range runs from ₹195.86 (bear case) to ₹498.62 (bull case); at ₹1,298, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 19% below its 52-week high and 15% above its 52-week low, currently above its 200-day average. For context, the median of 10 Other peers we cover trades at -24% fair-value upside, at -71%, 517354 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Growth Earnings (₹459.48) versus Asset-Based (₹89.09). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 65 · Market factors (momentum, volatility) 45
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Havells India Limited, a fast moving electrical goods company, manufactures, sells, and exports industrial and consumer electrical products in India and internationally. It operates through five segments: Switchgears, Cables, Lighting and Fixtures, Electrical Consumer Durables, and Lloyd Consumer.
Full company description
Havells India Limited, a fast moving electrical goods company, manufactures, sells, and exports industrial and consumer electrical products in India and internationally. It operates through five segments: Switchgears, Cables, Lighting and Fixtures, Electrical Consumer Durables, and Lloyd Consumer. The company offers switches; switchgears, such as circuit breakers, energy savers, human safety equipment, distribution boards, surge protection devices, and control and monitoring devices, as well as electrical wiring accessories, industrial motors, and capacitors; appliances, including cooking, food preparation, brewing, garment care, climate control appliances, and air purifiers; and cables consisting of domestic cables and industrial underground cables, as well flexible cables. It also provides fans comprising ceiling, table, pedestal, wall, ceiling mounting, personal, and domestic exhaust fans; lighting solutions; storage, instant, instantaneous gas, solar water heaters, and online electric hot water taps; pumps, such as centrifugal, mono block, and submersible pumps; water purifiers; air conditioners; televisions; refrigerator; washing machines; air circulators; heavy duty exhaust fans; and air coolers. In addition, the company offers motors, including crane duty, smoke, brake, inverter duty, and energy efficient motors; reactive power solutions; and personal grooming products. Further, it provides lighting products, such as LED, and industrial and commercial luminaries; down lighters; landscape and area lighting products; lamps; home decor items; and spotlights, as well as LED strips, battens, COB, panels, etc. The company offers its products under the Havells, Lloyd, Crabtree, Standard, an REO brands. Havells India Limited was founded in 1958 and is headquartered in Noida, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Havells India Limited reported revenue of ₹218B in FY2025 versus ₹105B in FY2021, a compound +20.1%/yr. Reported net income was ₹14.7B in FY2025, compounding +9.0%/yr from FY2021.
517354 screens 71% overvalued. Compare with Federal Home Loan Mortgage Corporation →
Peer Group
Other · 385 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Other median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Other stocks, each showing price versus our Fair Value estimate (as of Aug 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Federal Home Loan Mortgage Corporation FREJO | $15.58 | $51.90 | +233% |
| 533278 533278 | ₹409.15 | ₹660.78 | +62% |
| Nestl?? India Limited 500790 | ₹1,497 | ₹191.93 | -87% |
| ITC Limited 500875 | ₹279.50 | ₹212.74 | -24% |
| Wipro Limited 507685 | ₹183.80 | ₹193.38 | +5% |
| 540376 540376 | ₹4,054 | ₹1,542 | -62% |
| 540777 540777 | ₹536.00 | ₹149.72 | -72% |
| Lupin Limited 500257 | ₹2,265 | ₹1,983 | -12% |
| Dabur India Limited 500096 | ₹413.80 | ₹122.93 | -70% |
| 540719 540719 | ₹1,835 | ₹872.41 | -52% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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