Havells India Limited Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Shareholders might have noticed that Havells India Limited (NSE:HAVELLS) filed its interim result this time last week. The early response was not positive, with shares down 4.6% to ₹1,850 in the past week. It was not a great result overall. Although revenues beat expectations, hitting ₹103b, statutory earnings missed analyst forecasts by 19%, coming in at just ₹4.28 per share. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

See our latest analysis for Havells India

Following the latest results, Havells India's 25 analysts are now forecasting revenues of ₹216.9b in 2025. This would be a satisfactory 7.3% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to swell 11% to ₹24.98. In the lead-up to this report, the analysts had been modelling revenues of ₹215.1b and earnings per share (EPS) of ₹26.75 in 2025. The analysts seem to have become a little more negative on the business after the latest results, given the minor downgrade to their earnings per share numbers for next year.

The consensus price target held steady at ₹1,933, with the analysts seemingly voting that their lower forecast earnings are not expected to lead to a lower stock price in the foreseeable future. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. There are some variant perceptions on Havells India, with the most bullish analyst valuing it at ₹2,370 and the most bearish at ₹1,429 per share. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await Havells India shareholders.

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. We can infer from the latest estimates that forecasts expect a continuation of Havells India'shistorical trends, as the 15% annualised revenue growth to the end of 2025 is roughly in line with the 18% annual growth over the past five years. Compare this with the broader industry (in aggregate), which analyst estimates suggest will see revenues grow 21% annually. So although Havells India is expected to maintain its revenue growth rate, it's forecast to grow slower than the wider industry.

The Bottom Line

The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for Havells India. On the plus side, there were no major changes to revenue estimates; although forecasts imply they will perform worse than the wider industry. The consensus price target held steady at ₹1,933, with the latest estimates not enough to have an impact on their price targets.

With that in mind, we wouldn't be too quick to come to a conclusion on Havells India. Long-term earnings power is much more important than next year's profits. We have forecasts for Havells India going out to 2027, and you can see them free on our platform here.

Before you take the next step you should know about the 1 warning sign for Havells India that we have uncovered.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.