We’ve recently updated our valuation analysis.

Havells India Valuation

Is HAVELLS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

[object Object] Score

0/6

Valuation Score 0/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HAVELLS?

Other financial metrics that can be useful for relative valuation.

HAVELLS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue4.8x
Enterprise Value/EBITDA49.1x
PEG Ratio2.7x

Price to Earnings Ratio vs Peers

How does HAVELLS's PE Ratio compare to its peers?

The above table shows the PE ratio for HAVELLS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average40x
POLYCAB Polycab India
36.9x15.0%₹390.2b
500093 CG Power and Industrial Solutions
44.2x13.5%₹426.4b
517569 KEI Industries
33.4x23.8%₹143.1b
532953 V-Guard Industries
45.6x17.6%₹109.5b
HAVELLS Havells India
72x26.5%₹783.4b

Price-To-Earnings vs Peers: HAVELLS is expensive based on its Price-To-Earnings Ratio (72x) compared to the peer average (40x).


Price to Earnings Ratio vs Industry

How does HAVELLS's PE Ratio compare vs other companies in the IN Electrical Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a22.1%
n/an/an/a

Price-To-Earnings vs Industry: HAVELLS is expensive based on its Price-To-Earnings Ratio (72x) compared to the Indian Electrical industry average (22x)


Price to Earnings Ratio vs Fair Ratio

What is HAVELLS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HAVELLS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio72x
Fair PE Ratio47.5x

Price-To-Earnings vs Fair Ratio: HAVELLS is expensive based on its Price-To-Earnings Ratio (72x) compared to the estimated Fair Price-To-Earnings Ratio (47.5x).


Share Price vs Fair Value

What is the Fair Price of HAVELLS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HAVELLS (₹1250.4) is trading above our estimate of fair value (₹318.48)

Significantly Below Fair Value: HAVELLS is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst HAVELLS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹1,250.40
₹1,321.00
+5.6%
11.2%₹1,631.00₹1,046.00n/a39
Nov ’23₹1,220.75
₹1,321.13
+8.2%
11.2%₹1,631.00₹1,046.00n/a40
Oct ’23₹1,348.55
₹1,350.53
+0.1%
10.0%₹1,631.00₹1,025.00n/a40
Sep ’23₹1,384.95
₹1,350.53
-2.5%
10.0%₹1,631.00₹1,025.00n/a40
Aug ’23₹1,287.90
₹1,347.60
+4.6%
10.0%₹1,631.00₹1,025.00n/a40
Jul ’23₹1,111.25
₹1,361.16
+22.5%
10.0%₹1,644.00₹973.00n/a38
Jun ’23₹1,191.15
₹1,370.41
+15.0%
10.2%₹1,644.00₹973.00n/a37
May ’23₹1,311.80
₹1,342.20
+2.3%
12.1%₹1,644.00₹898.00n/a35
Apr ’23₹1,173.10
₹1,351.91
+15.2%
12.5%₹1,650.00₹898.00n/a35
Mar ’23₹1,185.70
₹1,376.14
+16.1%
11.4%₹1,650.00₹898.00n/a35
Feb ’23₹1,187.80
₹1,377.09
+15.9%
11.5%₹1,650.00₹898.00n/a35
Jan ’23₹1,397.00
₹1,367.94
-2.1%
12.7%₹1,650.00₹804.00n/a35
Dec ’22₹1,361.00
₹1,354.28
-0.5%
13.8%₹1,650.00₹804.00₹1,250.4036
Nov ’22₹1,288.15
₹1,350.69
+4.9%
13.9%₹1,650.00₹804.00₹1,220.7535
Oct ’22₹1,359.10
₹1,219.03
-10.3%
12.4%₹1,535.00₹937.00₹1,348.5535
Sep ’22₹1,344.75
₹1,179.35
-12.3%
12.3%₹1,475.00₹754.00₹1,384.9534
Aug ’22₹1,173.65
₹1,161.70
-1.0%
11.9%₹1,350.00₹754.00₹1,287.9033
Jul ’22₹989.00
₹1,078.39
+9.0%
10.7%₹1,273.00₹754.00₹1,111.2533
Jun ’22₹1,029.45
₹1,077.00
+4.6%
10.6%₹1,273.00₹754.00₹1,191.1533
May ’22₹990.25
₹1,102.33
+11.3%
13.5%₹1,400.00₹722.00₹1,311.8033
Apr ’22₹1,058.45
₹1,106.15
+4.5%
13.6%₹1,400.00₹722.00₹1,173.1033
Mar ’22₹1,112.15
₹1,107.16
-0.4%
13.6%₹1,400.00₹722.00₹1,185.7031
Feb ’22₹1,062.20
₹1,093.61
+3.0%
15.4%₹1,400.00₹722.00₹1,187.8031
Jan ’22₹909.90
₹749.81
-17.6%
14.2%₹979.00₹530.00₹1,397.0031
Dec ’21₹823.40
₹735.94
-10.6%
13.5%₹950.00₹530.00₹1,361.0031

Analyst Forecast: Target price is less than 20% higher than the current share price.


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