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Havells India

NSEI:HAVELLS
Snowflake Description

Flawless balance sheet with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HAVELLS
NSEI
₹397B
Market Cap
  1. Home
  2. IN
  3. Capital Goods
Company description

Havells India Limited manufactures and sells industrial and consumer electrical products in India and internationally. The last earnings update was 135 days ago. More info.


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HAVELLS Share Price and Events
Price Volatility
HAVELLS
Industry
5yr Volatility vs Market

Value

 Is Havells India undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Havells India to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Havells India.

NSEI:HAVELLS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 26 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 15.2%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:HAVELLS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.7%
Equity Risk Premium S&P Global 7.3%
Electrical Unlevered Beta Simply Wall St/ S&P Global 1.03
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.027 (1 + (1- 35%) (0.29%))
1.029
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.73% + (1.029 * 7.27%)
15.21%

Discounted Cash Flow Calculation for NSEI:HAVELLS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Havells India is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:HAVELLS DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (INR, Millions) 5,824.27 9,032.53 9,529.83 9,481.21 9,432.84
Source Analyst x11 Analyst x17 Analyst x6 Est @ -0.51% Est @ -0.51%
Present Value
Discounted (@ 15.21%)
5,055.19 6,804.57 6,231.21 5,380.80 4,646.45
Present value of next 5 years cash flows ₹28,118.21
NSEI:HAVELLS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= ₹9,432.84 × (1 + 7.73%) ÷ (15.21% – 7.73%)
₹135,787.57
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= ₹135,787.57 ÷ (1 + 15.21%)5
₹66,886.51
NSEI:HAVELLS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= ₹28,118.21 + ₹66,886.51
₹95,004.73
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹95,004.73 / 625.43
₹151.9
NSEI:HAVELLS Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹151.90
Current discount Discount to share price of ₹635.05
= -1 x (₹635.05 - ₹151.90) / ₹151.90
-318.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Havells India is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Havells India's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Havells India's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:HAVELLS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-03-31) in INR ₹10.80
NSEI:HAVELLS Share Price ** NSEI (2018-09-21) in INR ₹635.05
India Electrical Industry PE Ratio Median Figure of 70 Publicly-Listed Electrical Companies 17.12x
India Market PE Ratio Median Figure of 2,686 Publicly-Listed Companies 19.33x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Havells India.

NSEI:HAVELLS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NSEI:HAVELLS Share Price ÷ EPS (both in INR)

= 635.05 ÷ 10.80

58.82x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Havells India is overvalued based on earnings compared to the IN Electrical industry average.
  • Havells India is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does Havells India's expected growth come at a high price?
Raw Data
NSEI:HAVELLS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 58.82x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 26 Analysts
18.9%per year
India Electrical Industry PEG Ratio Median Figure of 15 Publicly-Listed Electrical Companies 1.43x
India Market PEG Ratio Median Figure of 643 Publicly-Listed Companies 1.26x

*Line of best fit is calculated by linear regression .

NSEI:HAVELLS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 58.82x ÷ 18.9%

3.1x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Havells India is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Havells India's assets?
Raw Data
NSEI:HAVELLS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-03-31) in INR ₹59.66
NSEI:HAVELLS Share Price * NSEI (2018-09-21) in INR ₹635.05
India Electrical Industry PB Ratio Median Figure of 85 Publicly-Listed Electrical Companies 1.34x
India Market PB Ratio Median Figure of 3,428 Publicly-Listed Companies 1.33x
NSEI:HAVELLS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NSEI:HAVELLS Share Price ÷ Book Value per Share (both in INR)

= 635.05 ÷ 59.66

10.65x

* Primary Listing of Havells India.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Havells India is overvalued based on assets compared to the IN Electrical industry average.
X
Value checks
We assess Havells India's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electrical industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electrical industry average (and greater than 0)? (1 check)
  5. Havells India has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Havells India expected to perform in the next 1 to 3 years based on estimates from 26 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
18.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Havells India expected to grow at an attractive rate?
  • Havells India's earnings growth is expected to exceed the low risk savings rate of 7.7%.
Growth vs Market Checks
  • Havells India's earnings growth is expected to exceed the India market average.
  • Havells India's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:HAVELLS Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:HAVELLS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 26 Analysts 18.9%
NSEI:HAVELLS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 26 Analysts 15.2%
India Electrical Industry Earnings Growth Rate Market Cap Weighted Average 23.9%
India Electrical Industry Revenue Growth Rate Market Cap Weighted Average 12.6%
India Market Earnings Growth Rate Market Cap Weighted Average 17.4%
India Market Revenue Growth Rate Market Cap Weighted Average 11.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:HAVELLS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 26 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:HAVELLS Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 130,209 12,005 12,089 13
2020-03-31 112,969 11,136 10,395 26
2019-03-31 97,665 9,657 8,599 26
NSEI:HAVELLS Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-03-31 81,464 10,992 6,749
2017-03-31 61,558 7,632 4,826
2016-03-31 76,126 5,134 13,001
2015-12-31 79,976 8,171
2015-09-30 82,777 3,345
2015-06-30 84,142 3,526

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Havells India's earnings are expected to grow by 18.9% yearly, however this is not considered high growth (20% yearly).
  • Havells India's revenue is expected to grow by 15.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:HAVELLS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 26 Analyst Estimates (S&P Global) See Below

All data from Havells India Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:HAVELLS Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 19.56 21.41 17.11 11.00
2020-03-31 16.72 18.80 15.03 24.00
2019-03-31 13.80 15.00 13.17 22.00
NSEI:HAVELLS Past Financials Data
Date (Data in INR Millions) EPS *
2018-03-31 10.80
2017-03-31 7.72
2016-03-31 20.82
2015-12-31 13.08
2015-09-30
2015-06-30

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Havells India is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Havells India's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Havells India has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Havells India performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Havells India's growth in the last year to its industry (Electrical).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Havells India's year on year earnings growth rate has been positive over the past 5 years.
  • Havells India's 1-year earnings growth exceeds its 5-year average (39.8% vs 8.9%)
  • Havells India's earnings growth has exceeded the IN Electrical industry average in the past year (39.8% vs 17.3%).
Earnings and Revenue History
Havells India's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Havells India Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:HAVELLS Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-03-31 81,464.10 6,748.80 10,685.60
2017-03-31 61,557.60 4,825.90 7,497.40
2016-03-31 76,125.60 13,001.10 12,195.90
2015-12-31 79,976.20 8,171.10 21,325.65
2015-09-30 82,777.30 3,345.20 23,825.30
2015-06-30 84,142.30 3,526.20 23,825.30
2015-03-31 85,694.30 3,854.20 15,408.70
2014-12-31 86,801.00 3,705.30 22,574.50
2014-09-30 86,687.00 4,724.30 22,574.50
2014-06-30 84,925.00 4,711.30 22,574.50
2014-03-31 81,858.00 4,463.30 22,144.50
2013-12-31 79,132.90 4,856.30 18,388.40 547.00
2013-09-30 76,238.90 4,666.30 18,388.40 547.00
2013-06-30 72,926.90 5,972.30 18,388.40 547.00
2013-03-31 72,478.90 5,814.30 19,106.40
2012-12-31 70,690.00 5,522.20 16,724.70 420.00
2012-09-30 69,143.00 5,230.20 16,724.70 420.00
2012-06-30 68,001.00 3,615.20 16,724.70 420.00
2012-03-31 65,182.00 3,699.20 16,733.50 420.00
2011-12-31 62,856.30 3,637.00 14,684.30
2011-09-30 60,551.30 3,383.00 14,684.30

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Havells India has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Havells India used its assets more efficiently than the IN Electrical industry average last year based on Return on Assets.
  • Havells India has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Havells India's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electrical industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Havells India has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Havells India's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Havells India's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Havells India is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Havells India's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Havells India's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 32.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Havells India Company Filings, last reported 5 months ago.

NSEI:HAVELLS Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-03-31 37,368.10 1,153.80 15,069.70
2017-03-31 32,858.70 2,083.30 19,720.20
2016-03-31 30,425.50 1,339.90 14,680.00
2015-12-31 25,663.40 1,336.80 14,704.50
2015-09-30
2015-06-30 18,182.70 4,238.60 7,774.70
2015-03-31 18,182.70 4,238.60 7,774.70
2014-12-31
2014-09-30
2014-06-30 16,661.20 10,535.00 8,819.40
2014-03-31 16,661.20 10,535.00 8,817.00
2013-12-31
2013-09-30
2013-06-30 14,421.30 9,815.10 4,735.70
2013-03-31 14,421.30 9,815.10 4,735.70
2012-12-31
2012-09-30
2012-06-30 9,557.00 10,270.50 2,336.40
2012-03-31 9,557.00 10,270.50 2,336.40
2011-12-31
2011-09-30
  • Havells India's level of debt (3.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (68.1% vs 3.1% today).
  • Debt is well covered by operating cash flow (952.6%, greater than 20% of total debt).
  • Havells India earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Havells India's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Havells India has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Havells India's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.63%
Current annual income from Havells India dividends. Estimated to be 1% next year.
If you bought ₹2,000 of Havells India shares you are expected to receive ₹13 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Havells India's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.46%).
  • Havells India's dividend is below the markets top 25% of dividend payers in India (1.56%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:HAVELLS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 26 Analyst Estimates (S&P Global) See Below
India Electrical Industry Average Dividend Yield Market Cap Weighted Average of 40 Stocks 1.2%
India Market Average Dividend Yield Market Cap Weighted Average of 1398 Stocks 1.3%
India Minimum Threshold Dividend Yield 10th Percentile 0.2%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 1.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:HAVELLS Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 8.11 11.00
2020-03-31 6.42 21.00
2019-03-31 5.32 21.00
NSEI:HAVELLS Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2018-06-19 4.000 0.650
2017-06-08 3.500 0.683
2016-06-13 3.000 0.746
2016-05-11 3.000 0.829
2015-06-15 3.000 1.054
2015-05-11 3.000 1.100
2014-05-28 4.000 1.503
2014-01-29 2.000 1.163
2013-05-28 1.000 0.705
2012-07-30 1.300 1.049
2012-05-30 1.300 1.149
2011-08-03 0.500 0.578
2010-08-27 0.500 0.655
2010-01-28 0.250 0.409
2009-06-29 0.250 0.743
2009-06-01 0.250 0.892
2008-09-24 0.250 1.700

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Havells India's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
X
Income/ dividend checks
We assess Havells India's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Havells India afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Havells India has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Havells India's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Anil Gupta, image provided by Google.
Anil Gupta
COMPENSATION ₹168,578,000
AGE 49
TENURE AS CEO 3.8 years
CEO Bio

Mr. Anil Rai Gupta has been an Executive Chairman and Managing Director of Havells India Limited since November 13, 2014 and serves as its CEO. Mr. Gupta has 23 years of experience in strategizing marketing activities. He served as Joint Managing Director of Havells India Limited since 2006. He has been an Executive Director of Havells India Ltd. since September 30, 1992. He serves as an Investor Director of Janalakshmi Financial Services Limited. He has been Non-Executive Independent Director of New Delhi Centre For Sight Limited since November 6, 2015. He serves as Managing Trustee of ARG family Trust. Mr. Gupta holds a B.A. in Economics and MBA in Marketing and Finance from Wake Forest University, North Calorina, USA.

CEO Compensation
  • Anil's compensation has increased by more than 20% in the past year.
  • Anil's remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the Havells India management team in years:

3
Average Tenure
49.5
Average Age
  • The tenure for the Havells India management team is about average.
Management Team

Anil Gupta

TITLE
Executive Chairman & MD
COMPENSATION
₹169M
AGE
49
TENURE
3.8 yrs

Rajesh Gupta

TITLE
Director of Finance
COMPENSATION
₹142M
AGE
61
TENURE
3.4 yrs

Ameet Gupta

TITLE
Executive Whole-Time Director
COMPENSATION
₹68M
AGE
46

Rajiv Goel

TITLE
Executive President
AGE
47

Mukul Saxena

TITLE
Executive VP & CTO
TENURE
0.3 yrs

Sachin Gupta

TITLE
Chief Information Officer and Senior Vice President
AGE
50
TENURE
2.6 yrs

Sanjay Gupta

TITLE
VP, Compliance Officer & Company Secretary
COMPENSATION
₹5M
TENURE
8.9 yrs

Anil Sharma

TITLE
Head of Corporate Communications

Amit Tiwari

TITLE
Vice President of Marketing
TENURE
1.2 yrs

Vivek Khanna

TITLE
Senior Vice President of Finance
COMPENSATION
₹3M
AGE
55
Board of Directors Tenure

Average tenure and age of the Havells India board of directors in years:

8
Average Tenure
64.5
Average Age
  • The tenure for the Havells India board of directors is about average.
Board of Directors

Anil Gupta

TITLE
Executive Chairman & MD
COMPENSATION
₹169M
AGE
49
TENURE
3.8 yrs

Rajesh Gupta

TITLE
Director of Finance
COMPENSATION
₹142M
AGE
61
TENURE
8 yrs

Ameet Gupta

TITLE
Executive Whole-Time Director
COMPENSATION
₹68M
AGE
46
TENURE
3.7 yrs

Vijay Chopra

TITLE
Independent Director
COMPENSATION
₹980K
AGE
72
TENURE
9.7 yrs

Surender Tuteja

TITLE
Independent Director
COMPENSATION
₹1M
AGE
73
TENURE
8.3 yrs

Adarsh Kishore

TITLE
Independent Director
COMPENSATION
₹860K
AGE
72
TENURE
8.2 yrs

Pratima Ram

TITLE
Independent Director
COMPENSATION
₹950K
AGE
68
TENURE
4.2 yrs

Vellayan Subbiah

TITLE
Independent Director
COMPENSATION
₹710K
AGE
49

Surjit Gupta

TITLE
Non-Independent Non-Executive Director
AGE
76
TENURE
35.1 yrs

T. V. Pai

TITLE
Non-Independent Non-Executive Director
COMPENSATION
₹740K
AGE
59
TENURE
3.8 yrs
Recent Insider Trading
  • Havells India insiders have only sold shares in the past 3 months.
Who owns this company?
X
Management checks
We assess Havells India's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap and profit (greater than 0.5% of the company's profit + 0.03% of market cap)? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Havells India has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

External News
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Simply Wall St News

Is Havells India Limited's (NSE:HAVELLS) Liquidity Good Enough?

Mid-caps stocks, like Havells India Limited (NSE:HAVELLS) with a market capitalization of ₹450.28b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. … Don’t forget that this is a general and concentrated examination of Havells India's financial health, so you should conduct further analysis. … See our latest analysis for Havells India

Simply Wall St -

Does Havells India Limited's (NSE:HAVELLS) Past Performance Indicate A Stronger Future?

In this article, I will take a look at Havells India Limited's (NSE:HAVELLS) most recent earnings update (31 March 2018) and compare these latest figures against its performance over the past few years, along with how the rest of HAVELLS's industry performed. … Did HAVELLS beat its long-term earnings growth trend and its industry. … HAVELLS's trailing twelve-month earnings (from 31 March 2018) of ₹6.75b has

Simply Wall St -

What Havells India Limited’s (NSE:HAVELLS) Insiders Know That You Don't

Havells India Limited manufactures and sells industrial and consumer electrical products in India and internationally. … Generally, insiders selling shares in their own firm sends a bearish signal … The MIT Press (1998) published an article showing that stocks following insider selling underperformed the market by 2.7%

Simply Wall St -

No Stopping The Havells India Limited (NSE:HAVELLS) Growth Train

Havells India Limited (NSE:HAVELLS)'s outlook is one of buoyant sentiment as it continues to post exciting top-line revenue growth. … Havells India Limited manufactures and sells industrial and consumer electrical products in India and internationally. … Since starting in 1958 in India, the company has now grown to a market cap of ₹402.43b.

Simply Wall St -

Breaking Down Havells India Limited's (NSE:HAVELLS) Ownership Structure

In this analysis, my focus will be on developing a perspective on Havells India Limited’s (NSE:HAVELLS) latest ownership structure, a less discussed, but important factor. … When it comes to ownership structure of a company, the impact has been observed in both the long-and short-term performance of shares. … See our latest analysis for Havells India

Simply Wall St -

Does Havells India Limited's (NSE:HAVELLS) PE Ratio Warrant A Sell?

Havells India Limited (NSE:HAVELLS) is trading with a trailing P/E of 52x, which is higher than the industry average of 19.2x. … While HAVELLS might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … View our latest analysis for Havells India

Simply Wall St -

Does Havells India Limited's (NSE:HAVELLS) CEO Pay Compare Well With Peers?

Understanding how CEOs are incentivised to run and grow their company is an important aspect of investing in a stock. … This is because, if incentives are aligned, more value is created for shareholders which directly impacts your returns as an investor. … CEOs leading companies of similar size and profitability

Simply Wall St -

Have Investors Priced In Havells India Limited's (NSE:HAVELLS) Growth?

Havells India Limited (NSE:HAVELLS), a electrical company based in India,. … A question to answer is whether Havells India's current trading price of ₹535.3 reflective of the actual value of the? … Let’s take a look at Havells India’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Should You Be Holding Havells India Limited (NSE:HAVELLS)?

Havells India Limited (NSE:HAVELLS) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of HAVELLS, it

Simply Wall St -

How Havells India Limited (NSE:HAVELLS) Delivered A Better ROE Than Its Industry

Check out our latest analysis for Havells India Breaking down Return on Equity Return on Equity (ROE) weighs Havells India’s profit against the level of its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of Havells India’s equity capital deployed. … This means Havells India returns enough to cover its own cost of equity, with a buffer of 2.97%.

Simply Wall St -

Company Info

Map
Description

Havells India Limited manufactures and sells industrial and consumer electrical products in India and internationally. It operates through Switchgears, Cables, Lighting and Fixtures, Electrical Consumer Durables, and Lloyd Consumer segments. The company offers switches; switchgears, such as circuit breakers, energy savers, human safety equipment, distribution boards, and surge protection products; appliances, including cooking, food preparation, brewing, garment care, and climate control appliances; and cables consisting of domestic cables and industrial underground cables. It also provides fans comprising ceiling, table, pedestal, wall, ceiling mounting, personal, and domestic exhaust fans; lighting solutions; storage, instant, instantaneous gas, and solar water heaters; pumps, such as centrifugal, mono block, and submersible pumps; water purifiers; air conditioners; televisions; washing machines; air circulators; heavy duty exhaust fans; air coolers; and air purifiers and filters. In addition, the company offers motors, including crane duty, smoke, brake, inverter duty, LT, and energy efficient motors; reactive power solutions comprising LV PFC capacitors, agricultural load capacitors, PFC components, automatic power factor correction systems, and AC film capacitors; and personal grooming products. Further, it provides lighting products, such as LED, industrial, and commercial luminaries; down lighters; landscape and area lighting products; and lamps, as well as spotlights, LED tubes and LED panels, floor panels, etc. The company markets its products primarily under the Havells brand name. Havells India Limited was founded in 1958 and is based in Noida, India.

Details
Name: Havells India Limited
HAVELLS
Exchange: NSEI
Founded: 1958
₹397,179,924,797
625,430,950
Website: http://www.havells.com
Address: Havells India Limited
QRG Towers,
2D, Express way,
Noida,
Uttar Pradesh, 201304,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NSEI HAVELLS Equity Shares National Stock Exchange of India IN INR 21. Mar 2001
BSE 517354 Equity Shares Mumbai Stock Exchange IN INR 21. Mar 2001
Number of employees
Current staff
Staff numbers
0
Havells India employees.
Industry
Electrical Components and Equipment
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/09/23 11:38
End of day share price update: 2018/09/21 00:00
Last estimates confirmation: 2018/09/19
Last earnings filing: 2018/05/11
Last earnings reported: 2018/03/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.