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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
History
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
Havells India Limited is an India-based fast moving electrical goods (FMEG) company. The Company is consumer electrical/electronic and power distribution equipment manufacturer with products ranging from industrial and domestic circuit protection switchgears, cables, motors,…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
A decent, steadily growing business, trading cheap versus its own history.
Havells India is scored on the commodity / cyclical framework. It keeps a slim 7.3% of every rupee of sales as net profit. Cash broadly tracks reported profit (CFO/PAT 0.93×). Free cash flow is worth about 1.0% of its market value.
Over the last 3 years revenue compounded at 10%/yr and profit at 16%/yr. Book value has grown 13%/yr. Return on equity is a healthy 17.0%. In the latest quarter profit grew 21% versus the prior quarter.
At 42× earnings, the stock sits at the 4th percentile of its own 3.6-year range — the cheap end of where it has historically traded. Today's price already implies ~19%/yr earnings growth sustained for a decade — a demanding bar. The books come through clean — a forensic grade of A, and Altman puts distress risk in the safe zone.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 42.39 | 28.09 | worse |
| P/B | 7.21 | 6.18 | worse |
| EV/EBITDA | 24.55 | 18.03 | worse |
| ROE | 17.02 | 6.94 | better |
| ROCE | 22.1 | 11.6 | better |
| ROA | 11.28 | — | — |
| Quick Ratio | 0.74 | 1.61 | worse |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| LG Electronics India | 61.9 | 13.5 | 21.9% |
| Dixon Techno | 44.2 | 13.1 | 26.4% |
| Voltas | 82.0 | 5.7 | 5.9% |
Revenue has grown every year across all 4 financial years shown. 10% CAGR over 3 years — steady double-digit compounder. Growth is decelerating — latest year grew slower than the year before.
Net profit has risen every year — the hallmark of a compounder. Profit is growing faster than revenue (16% vs 10%) — margin expansion is at work.
Operating margins have been stable around 10% — no major structural shift.
ROE at 18% — a respectable return on shareholder capital. High ROE despite single-digit margins — an asset-turn play with high capital velocity. Low variance across years — a predictable business that earns steadily on its equity base.
EPS has grown every year — each share earns more than the last, consistently. 16% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
Operating cash flow has been positive every year — the business generates real cash, not just accounting profit. Financing outflows in consecutive years — balance-sheet discipline through debt repayment or dividends.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue broadly flat QoQ — stable but not accelerating.
Profit jumped 21% QoQ — check if this is operating leverage or a one-off item.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.6y median.
Promoter holding at 59.4% — majority control intact. FIIs trimmed 3.5pp — foreign money is rotating out. MF holding up 2.7pp — domestic institutional discovery underway.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.