Havells India
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Havells India Limited manufactures and sells industrial and consumer electrical products in India and internationally. The last earnings update was 215 days ago. More info.
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HAVELLS Share Price and Events
7 Day Returns
1 Year Returns
HAVELLS Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Havells India (HAVELLS) | -1.5% | -2% | 15% | 23.7% | 127.2% | 346.6% |
| IN Electrical | -0.9% | -3% | -0.1% | -13.8% | 27.5% | 89.1% |
| IN Market | 0.1% | -1.7% | 4.3% | -10% | 42.5% | 83.6% |
1 Year Return vs Industry and Market
- HAVELLS outperformed the Electrical industry which returned -13.8% over the past year.
- HAVELLS outperformed the Market in India which returned -10% over the past year.
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Havells India.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 25 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 14.5% |
| Perpetual Growth Rate | 10-Year IN Government Bond Rate | 7.6% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year IN Govt Bond Rate | 7.6% |
| Equity Risk Premium | S&P Global | 7.5% |
| Electrical Unlevered Beta | Simply Wall St/ S&P Global | 0.93 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.927 (1 + (1- 35%) (0.27%)) |
0.929 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.93 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.929 * 7.45%) |
14.47% |
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.
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Levered FCF (INR, Millions) | 5,136.10 | 9,098.71 | 10,479.43 | 10,425.96 | 10,372.77 |
| Source | Analyst x10 | Analyst x14 | Analyst x7 | Est @ -0.51% | Est @ -0.51% |
|
Present Value Discounted (@ 14.47%) |
4,486.80 | 6,943.62 | 6,986.28 | 6,071.94 | 5,277.26 |
| Present value of next 5 years cash flows | ₹29,765.90 |
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= ₹10,372.77 × (1 + 7.55%) ÷ (14.47% – 7.55%) |
₹161,178.96 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= ₹161,178.96 ÷ (1 + 14.47%)5 |
₹82,001.65 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= ₹29,765.90 + ₹82,001.65 |
₹111,767.54 |
| Equity Value per Share (INR) |
= Total value / Shares Outstanding
= ₹111,767.54 / 625.43 |
₹178.7 |
| Calculation | Result | |
|---|---|---|
| Value per share (INR) | From above. | ₹178.70 |
| Current discount | Discount to share price of
₹677.50
= -1 x (₹677.50 - ₹178.70) / ₹178.70 |
-279.1% |
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.
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?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-03-31) in INR | ₹10.80 |
| NSEI:HAVELLS Share Price ** | NSEI (2019-01-18) in INR | ₹677.5 |
| India Electrical Industry PE Ratio | Median Figure of 72 Publicly-Listed Electrical Companies | 13.57x |
| India Market PE Ratio | Median Figure of 2,736 Publicly-Listed Companies | 17.08x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Havells India.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NSEI:HAVELLS Share Price ÷ EPS (both in INR) = 677.5 ÷ 10.80 |
62.75x |
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?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 62.75x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 25 Analysts |
19%per year |
| India Electrical Industry PEG Ratio | Median Figure of 15 Publicly-Listed Electrical Companies | 0.95x |
| India Market PEG Ratio | Median Figure of 632 Publicly-Listed Companies | 1.15x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 62.75x ÷ 19% |
3.3x |
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?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-03-31) in INR | ₹59.66 |
| NSEI:HAVELLS Share Price * | NSEI (2019-01-18) in INR | ₹677.5 |
| India Electrical Industry PB Ratio | Median Figure of 89 Publicly-Listed Electrical Companies | 1.17x |
| India Market PB Ratio | Median Figure of 3,569 Publicly-Listed Companies | 1.17x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NSEI:HAVELLS Share Price ÷ Book Value per Share (both in INR) = 677.5 ÷ 59.66 |
11.36x |
* 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.
Value checks
We assess Havells India's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Electrical industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Electrical industry average (and greater than 0)? (1 check) 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
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!
Earnings growth vs Low Risk Savings
- Havells India's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
- Havells India's earnings growth is positive but not above the India market average.
- Havells India's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NSEI:HAVELLS Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 25 Analysts | 19% |
| NSEI:HAVELLS Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 25 Analysts | 15.3% |
| India Electrical Industry Earnings Growth Rate | Market Cap Weighted Average | 21.1% |
| India Electrical Industry Revenue Growth Rate | Market Cap Weighted Average | 11.9% |
| India Market Earnings Growth Rate | Market Cap Weighted Average | 19% |
| India Market Revenue Growth Rate | Market Cap Weighted Average | 11.6% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (9 months ago) | See Below |
| Future Estimates | Average of up to 25 Analyst Estimates (S&P Global) | See Below |
| Date (Data in INR Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-03-31 | 130,475 | 12,798 | 12,081 | 15 |
| 2020-03-31 | 113,635 | 11,216 | 10,305 | 25 |
| 2019-03-31 | 98,357 | 9,978 | 8,426 | 23 |
| 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.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (9 months ago) | See Below |
| Future Estimates | Average of up to 25 Analyst Estimates (S&P Global) | See Below |
All data from Havells India Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in INR Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-03-31 | 19.29 | 20.77 | 17.11 | 15.00 |
| 2020-03-31 | 16.53 | 18.40 | 15.03 | 24.00 |
| 2019-03-31 | 13.52 | 14.50 | 12.80 | 23.00 |
| 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.
Future performance checks
We assess Havells India's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Havells India has a total score of 3/6, 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?
- Havells India's last earnings update was 215 days ago.
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
Past Earnings growth analysis
- 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
All data from Havells India Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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 |
*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's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Havells India's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Electrical industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Havells India has a total score of 4/6, 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.
- 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
Assets
Liabilities and shares
- 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.
All data from Havells India Company Filings, last reported 9 months ago.
| 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 |
- 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.
Financial health checks
We assess Havells India's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Havells India has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
If you bought
₹2,000 of
Havells India
shares you are expected to receive
₹12
in your first year as a dividend.
Dividend Amount
- Havells India's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.51%).
- Havells India's dividend is below the markets top 25% of dividend payers in India (1.78%).
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.
| 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 25 Analyst Estimates (S&P Global) | See Below |
| India Electrical Industry Average Dividend Yield | Market Cap Weighted Average of 39 Stocks | 1.4% |
| India Market Average Dividend Yield | Market Cap Weighted Average of 1392 Stocks | 1.4% |
| India Minimum Threshold Dividend Yield | 10th Percentile | 0.3% |
| India Bottom 25% Dividend Yield | 25th Percentile | 0.5% |
| India Top 25% Dividend Yield | 75th Percentile | 1.8% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in ₹) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-03-31 | 7.94 | 11.00 |
| 2020-03-31 | 6.35 | 19.00 |
| 2019-03-31 | 4.95 | 17.00 |
| Date (Data in ₹) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-06-19 | 4.000 | 0.629 |
| 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 |
| 2009-01-21 | 0.250 | 1.769 |
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).
- Dividends after 3 years are expected to be well covered by earnings (2.4x coverage).
Income/ dividend checks
We assess Havells India's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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
CEO
| COMPENSATION | ₹168,578,000 |
| AGE | 49 |
| TENURE AS CEO | 4.2 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:
- The tenure for the Havells India management team is about average.
Management Team
Anil Gupta
Executive Chairman & MD
₹169M
49
4.2 yrs
Rajesh Gupta
Director of Finance
₹142M
61
3.8 yrs
Ameet Gupta
Executive Whole-Time Director
₹68M
46
Mukul Saxena
Executive VP & CTO
0.6 yrs
Sachin Gupta
Senior VP & Chief Information Officer
50
2.9 yrs
Sanjay Gupta
VP, Compliance Officer & Company Secretary
₹5M
9.3 yrs
Anil Sharma
Head of Corporate Communications
Amit Tiwari
Vice President of Marketing
1.5 yrs
Narendra Choudhary
Executive Vice President
60
Anil Bhasin
Senior Vice President
58
Board of Directors Tenure
Average tenure and age of the Havells India board of directors in years:
- The tenure for the Havells India board of directors is about average.
Board of Directors
Anil Gupta
Executive Chairman & MD
₹169M
49
4.2 yrs
Rajesh Gupta
Director of Finance
₹142M
61
8.3 yrs
Ameet Gupta
Executive Whole-Time Director
₹68M
46
4 yrs
Surjit Gupta
Non-Independent Non-Executive Director
76
35.4 yrs
Vijay Chopra
Independent Director
₹980K
72
10 yrs
Surender Tuteja
Independent Director
₹1M
73
8.7 yrs
Adarsh Kishore
Independent Director
₹860K
72
8.5 yrs
Pratima Ram
Independent Director
₹950K
68
4.5 yrs
Vellayan Subbiah
Independent Director
₹710K
49
T. V. Pai
Non-Independent Non-Executive Director
₹740K
59
4.1 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (₹) | Value (₹) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 29. Dec 18 | Sell | Brijendra Misra | Individual | 27. Dec 18 | 28. Dec 18 | -2,227 | ₹689.81 | ₹-1,536,200 | ||
| 21. Dec 18 | Sell | P. Sajimon | Individual | 19. Dec 18 | 19. Dec 18 | -2,000 | ₹709.62 | ₹-1,419,237 | ||
| 20. Aug 18 | Sell | P. Sajimon | Individual | 17. Aug 18 | 17. Aug 18 | -4,000 | ₹679.13 | ₹-2,716,538 | ||
| 25. Jul 18 | Sell | Rajesh Gupta | Individual | 24. Jul 18 | 24. Jul 18 | -800,000 | ₹613.32 | ₹-483,851,409 | ||
| 30. Jan 18 | Sell | Pradeep Gupta | Individual | 29. Jan 18 | 29. Jan 18 | -3,124 | ₹587.54 | ₹-1,835,467 | ||
| 31. Jan 18 | Sell | Rajesh Gupta | Individual | 29. Jan 18 | 29. Jan 18 | -138,856 | ₹577.79 | ₹-80,228,944 | ||
| 31. Jan 18 | Sell | Anil Gupta | Individual | 31. Jan 18 | 31. Jan 18 | -8,500,000 | ₹515.97 | ₹-4,385,779,212 | ||
| 31. Jan 18 | Sell | Surjit Gupta | Individual | 31. Jan 18 | 31. Jan 18 | -4,000,000 | ₹515.48 | ₹-2,061,920,361 | ||
| 30. Jan 18 | Sell | Sanjay Gupta | Individual | 29. Jan 18 | 29. Jan 18 | -5,800 | ₹589.62 | ₹-3,419,814 | ||
Management checks
We assess Havells India's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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
Simply Wall St News
Why We Like Havells India Limited’s (NSE:HAVELLS) 22% Return On Capital Employed
To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.
Simply Wall St - – Full articleShould You Worry About Havells India Limited's (NSE:HAVELLS) CEO Salary Level?
Anil Gupta became the CEO of Havells India Limited (NSE:HAVELLS) in 2014. … At the time of writing our data says that Havells India Limited has a market cap of ₹387.5b, and is paying total annual CEO compensation of ₹169m. … It would therefore appear that Havells India Limited pays Anil Gupta more than the median CEO remuneration at companies of a similar size, in the same market
Simply Wall St - – Full articleWhat Should Investors Know About Havells India Limited's (NSE:HAVELLS) Future?
In March 2018, Havells India Limited (NSE:HAVELLS) announced its latest earnings update, whicha
Simply Wall St - – Full articleWhat Should You Know About Havells India Limited's (NSE:HAVELLS) Growth?
Based on Havells India Limited's (NSE:HAVELLS) earnings update in March 2018,. … it seems that analyst forecasts are fairly optimistic, … the past 5-year average growth rate of 8.9%
Simply Wall St - – Full articleDoes The Data Make Havells India Limited (NSE:HAVELLS) An Attractive Investment?
I've been keeping an eye on Havells India Limited (NSE:HAVELLS) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe HAVELLS has a lot to offer.
Simply Wall St - – Full articleIs 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 - – Full articleDoes 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 - – Full articleWhat 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 - – Full articleNo 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 - – Full articleBreaking 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 - – Full articleCompany 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 |
| ₹423,729,468,625 | |
| 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
Industry
| Electrical Components and Equipment | |
| Capital Goods |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/01/20 12:45 |
| End of day share price update: | 2019/01/18 00:00 |
| Last estimates confirmation: | 2019/01/15 |
| Last earnings filing: | 2018/06/19 |
| 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.
