Havells Share Price: Comprehensive Analysis & Investment Outlook
Last updated: July 20, 2025 | Market Data as of previous trading session
Recent Performance Analysis
Havells India Ltd. (NSE: HAVELLS) has shown mixed performance in recent months. After reaching an all-time high of ₹2,106 in September 2024, the stock has corrected by approximately 28% from its peak. The current price of ₹1,518.50 represents a 14.14% decline over the past year, though the 5-year return remains strong at +153.36%.
Financial Health & Fundamentals
| Metric | FY25 | FY24 | Growth (%) |
|---|---|---|---|
| Revenue | ₹2,20,813 million | ₹1,88,390 million | 17.2% |
| Net Profit | ₹14,702 million | ₹12,708 million | 15.7% |
| Operating Margin | 9.9% | 10.1% | -0.2% |
| Dividend Per Share | ₹6.00 | N/A | N/A |
Analyst Price Targets & Recommendations
Analysts remain cautiously optimistic about Havells’ medium-term prospects:
| Brokerage | Rating | Target Price | Upside Potential |
|---|---|---|---|
| Morgan Stanley | Overweight | ₹1,850 | +21.8% |
| Goldman Sachs | Neutral | ₹1,650 | +8.7% |
| JP Morgan | Overweight | ₹1,900 | +25.1% |
| ICICI Securities | Hold | ₹1,550 | +2.1% |
Key Growth Drivers
- Product Innovation: Recent launches like the Lloyd Stunnair Air Conditioner and smart home solutions
- Distribution Expansion: Over 200,000 retail outlets and 3,000+ distributors nationwide
- Brand Strength: Leadership position in India’s FMEG (Fast Moving Electrical Goods) sector
- Digital Transformation: Enhanced e-commerce capabilities and digital marketing
- International Expansion: Growing presence in Middle East, Africa, and Southeast Asia
Risk Factors
- Intense competition from both organized and unorganized players
- Commodity price volatility affecting input costs
- Slowdown in real estate and construction sectors
- Regulatory changes in the electrical equipment industry
- Global supply chain disruptions
Key Takeaways for Investors
- Havells remains a fundamentally strong company with consistent revenue growth (17.2% in FY25)
- The stock is currently trading at a discount to its 52-week high, presenting potential value
- Long-term investors may benefit from the company’s strong brand and market position
- Short-term volatility may continue due to market conditions and sector rotation
- Dividend yield of 0.4% provides modest income support
Technical Analysis
From a technical perspective:
- The stock is currently trading below its 50-day and 200-day moving averages
- RSI at 42 suggests the stock is neither overbought nor oversold
- Key support levels at ₹1,450 and ₹1,380
- Resistance levels at ₹1,600 and ₹1,720
Valuation Metrics
| Metric | Value | Sector Average |
|---|---|---|
| P/E Ratio | 48.2 | 42.5 |
| P/B Ratio | 8.7 | 6.2 |
| EV/EBITDA | 32.4 | 28.1 |
| Dividend Yield | 0.4% | 0.8% |
Conclusion
Havells India remains one of the strongest players in India’s electrical equipment and consumer durables sector. While the stock has faced headwinds in 2025, its strong brand, distribution network, and product innovation capabilities position it well for long-term growth. Investors with a 3-5 year horizon may find current levels attractive for accumulation, though short-term volatility may persist.
