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India
As of 18 Sept 2026, 03:30 pm
As of September 1, 2026, Havells India Limited received a 'CG 1' (highest) Corporate Governance Rating from CARE Analytics and Advisory Private Limited. This rating was based on factors including a debt-free status with a Debt-to-Equity ratio of zero, a Return on Equity (ROE) of 19.15%, strong board composition with two women directors as of June 30, 2026, integration of ESG-linked Key Performance Indicators (KPIs) into senior management remuneration, effective oversight by independent director-led committees, and transparent disclosures aligned with BRSR and GRI standards.
As of September 18, 2026, daily technical indicators suggest a bearish trend. The 20-day Exponential Moving Average (EMA) is 1162.87, and the 50-day EMA is 1199.50, both above the current closing price of ₹1132.4. The SuperTrend indicator is at 1166.48, also indicating a bearish direction. The Average Directional Index (ADX) is 39.49, suggesting a strong trend, while the Plus Directional Indicator (plus_di) at 16.31 is lower than the Minus Directional Indicator (minus_di) at 31.33.
On August 31, 2026, Havells India Limited shareholders approved the appointment of Shri Ashish Dhawan and Ms Shanti Ekambaram as Independent Directors for a five-year term, effective from June 19, 2026. The approvals were passed via postal ballot and e-voting, with 90.0176% of votes in favor of Shri Ashish Dhawan's appointment and 99.9091% in favor of Ms Shanti Ekambaram's appointment.
As of September 18, 2026, Havells India has shown mixed returns across different periods. The one-year return was -29%, and year-to-date (YTD) return was -20%. The one-month return was -13%, and the three-month return was -5%. However, the return since the start of trading was -33%.
As of 18 Sept 2026, 03:30 pm
Recent drawdown or price variability is materially high and may lead to larger short-term outcomes.
Primary driver: Price remains materially below a previous peak
Upward price movement of 3.77 standard deviations recorded on 2026-09-18.
Unusual market activity that may warrant review of the underlying price, volume, or news context.
Trading activity was substantially higher than usual and the price closed lower.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Revenue From Operations | ₹6,518.19 crore | PEAK₹6,705.20 crore | ₹5,587.89 crore | ₹4,779.33 crore | ₹5,455.35 crore |
| Segment Revenue From Operations | ₹6,518.19 crore | PEAK₹6,705.20 crore | ₹5,587.89 crore | ₹4,779.32 crore | ₹5,455.35 crore |
| Profit Before Exceptional Items And Tax | ₹392.29 crore | PEAK₹904.04 crore | ₹441.26 crore | ₹409.77 crore | ₹469.75 crore |
| Profit Before Tax | ₹392.29 crore | PEAK₹904.04 crore | ₹396.23 crore | ₹409.77 crore | ₹469.75 crore |
| Basic Earnings Loss Per Share From Continuing And Discontinued Operations | ₹4.63 per share | PEAK₹11.52 per share | ₹4.80 per share | ₹5.09 per share | ₹5.55 per share |
| Diluted Earnings Loss Per Share From Continuing And Discontinued Operations | ₹4.62 per share | PEAK₹11.52 per share | ₹4.79 per share | ₹5.08 per share | ₹5.54 per share |
Havells India reported a 19.5% increase in revenue from operations compared to the same quarter last year, reaching ₹6,518 crore. However, profit before tax declined by 16.5% to ₹392 crore, leading to a drop in earnings per share from ₹5.55 to ₹4.63. The quarter’s performance reflects a significant compression in profit margins despite substantial top-line growth.
Revenue from operations for Q1 FY2026-27 was ₹6,518.19 crore, up 19.48% from ₹5,455.35 crore in Q1 FY2025-26. Sequentially, revenue decreased 2.79% from the previous quarter’s ₹6,705.20 crore, which was the highest over the past five quarters. The year-over-year growth is substantial, while the sequential decline suggests a moderation from the prior quarter’s peak.
Basic earnings per share (EPS) fell to ₹4.63 from ₹5.55 in the same quarter last year, a decline of 16.58%. Diluted EPS was ₹4.62, indicating negligible dilution from potential equity instruments. Finance costs decreased 20.3% year-over-year to ₹7.46 crore, a modest positive but insufficient to offset the decline in operating profitability.
Havells India achieved substantial year-over-year revenue growth in the June quarter, but profitability contracted significantly, resulting in lower earnings per share. The compression in profit margins is the defining feature of the quarter, with expenses taking a larger share of revenue than a year ago.
Exchange disclosures and regulatory announcements for Havells India.
Havells India Limited announced on September 15, 2026, that it will participate in the J.P. Morgan India Conference scheduled for September 21, 2026. The meeting, held physically in Mumbai starting at 10 am, will include both group and one-on-one sessions with institutional investors. The company explicitly stated that no unpublished price-sensitive information will be disclosed during these interactions.
Havells India Limited announced an institutional investor meeting scheduled for September 21, 2026, at 10:00 AM in Mumbai as part of the J.P. Morgan India Conference. The event will be conducted in-person and organized by J.P. Morgan India for a group of analysts and investors. Arpan Goyal is designated as the contact person for the meeting.
On September 1, 2026, Havells India Limited received a 'CG 1' (highest) Corporate Governance Rating from CARE Analytics and Advisory Private Limited for its performance during the period ending March 31, 2026. The rating reflects strong board composition with two women directors as of June 30, 2026, a debt-free status with a Debt-to-Equity ratio of zero, and an ROE of 19.15%. Key governance drivers included the integration of ESG-linked KPIs into senior management remuneration, effective oversight by independent director-led committees, and transparent disclosures aligned with BRSR and GRI standards.
Havells India Limited shareholders approved the appointment of Shri Ashish Dhawan and Ms Shanti Ekambaram as Independent Directors for a first term of five years effective from 19th June 2026, via postal ballot and e-voting. The special resolutions were passed with the requisite majority on 30th August 2026, the last date of remote e-voting. For Resolution 1 (Ashish Dhawan), 90.0176% of votes were in favor; for Resolution 2 (Shanti Ekambaram), 99.9091% were in favor.
MEETING DATE : 30-AUG-2026
MEETING DATE : 30-AUG-2026
Havells India Limited will participate in the Motilal Oswal Annual Global Investor Conference 2026 on 17th August 2026, involving group and one-on-one physical meetings in Mumbai. The company stated that no unpublished price-sensitive information will be shared during the meetings.
HAVELLS INDIA LIMITED reported the appointment of Sandeep Sehgal as EVP - Sales, effective August 4, 2026. Sehgal brings over 25 years of experience in sales, marketing, and business development, having previously worked with Panasonic, CEAT Tyres, and LG Electronics India.
Recent market and company developments associated with Havells India.
Copper’s recent rally to record-highs has sent waves of concern reverberating through the makers of several consumer-focussed and industrial products such as electric vehicles (EVs), consumer gadgets and appliances, electric wires and engineering goods, among others.
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The wire and cable industry faced stock declines amidst rumors of Ultravolts impending market entry. The Aditya Birla Group's initiative aims for a robust nationwide distribution and retail network, stirring competition among established players. Leaders like Polycab and Havells have felt the pinch with falling stock prices, though those in the mid-to-extra high voltage sector might remain relatively insulated from these changes.
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UltraTechs entry into wires and cables triggered a sharp selloff in listed peers as investors assess the impact of intensified competition on market share, pricing and margins. While house wires and light-duty cables face the most immediate pressure, higher-voltage segments remain relatively insulated. Analysts remain positive on long-term industry growth, but caution that elevated valuations leave incumbents vulnerable.
Indian benchmark indices ended slightly higher on Friday, with the Sensex rising 363 points and Nifty closing below 23,898. Investors monitored global market cues, US economic data, and inflation reports, while stock-specific action drove intraday activity across major sectors in a sideways-moving market environment.
Margin performance should match revenue growth for the company prospects to recover
Comprehensive Section Breakdown for Havells India
Strategic Vision: Electrical goods manufacturer and distributor for diverse applications.
• Extensive product portfolio covering residential, commercial, and industrial electrical needs.
• Strong brand recognition across multiple consumer segments.
• Significant in-house manufacturing infrastructure within India.
• Wide-reaching distribution and service network.
Profit before tax (PBT) fell to ₹392.29 crore, a decrease of 16.49% from ₹469.75 crore a year ago. Compared to the immediately preceding quarter (Q4 FY2025-26), PBT dropped 56.61% from ₹904.04 crore. No exceptional items were recorded in the current quarter or in the year-ago quarter. The PBT margin (PBT as a percentage of revenue) declined from 8.61% in Q1 FY2025-26 to 6.02% in Q1 FY2026-27, a compression of 2.6 percentage points. This indicates that expenses, as a share of revenue, increased compared to the same quarter last year.
In the current quarter, the major expense items reported were:
Other income was ₹54.16 crore. Based on reported revenue, other income, and profit before tax, total expenses for the quarter amounted to approximately ₹6,180.06 crore. The sum of the reported expense categories above is ₹5,130.35 crore, leaving around ₹1,050 crore in other expenses. The decline in PBT margin reflects a higher expense ratio relative to the year-ago quarter.
Category: Consumer Tech
Manufactures and distributes electrical products including switches, switchgear, appliances, cables, fans, lighting, air conditioners, refrigerators, televisions, washing machines, and solar products.
Key Products & Services: Havells • Lloyd • Standard Electricals
Category: Manufacturing
Offers industrial and domestic switchgear, professional lighting solutions, capacitors, power quality solutions, and circuit protection devices for industrial and commercial applications.
Key Products & Services: Havells • Havells Crabtree • REO
Core Thesis: The company leverages a house of brands strategy to cater to diverse consumer segments across its extensive product portfolio.
• Brand Portfolio: Operates multiple brands including Havells, Lloyd, and Standard Electricals to address different consumer needs and market segments. • In-house Manufacturing: Maintains significant in-house manufacturing capabilities with 15 plants across 8 locations in India. • Distribution Network: Utilizes a robust distribution network, including exclusive brand stores and doorstep service initiatives like 'Havells Connect'.