Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Havells India Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 4,859 | 4,834 | 3,900 | 4,414 | 5,442 | 5,806 | 4,539 | 4,889 | 6,544 | 5,455 | 4,779 | 5,588 | 6,705 |
| Expenses + | 4,332 | 4,432 | 3,527 | 3,981 | 4,807 | 5,234 | 4,164 | 4,462 | 5,787 | 4,940 | 4,341 | 5,072 | 5,976 |
| Operating Profit | 527 | 402 | 373 | 433 | 635 | 572 | 375 | 426 | 757 | 516 | 438 | 516 | 729 |
| OPM % | 11% | 8% | 10% | 10% | 12% | 10% | 8% | 9% | 12% | 9% | 9% | 9% | 11% |
| Other Income + | 47 | 65 | 52 | 56 | 76 | 77 | 93 | 64 | 69 | 69 | 91 | 9 | 310 |
| Interest | 10 | 8 | 9 | 10 | 18 | 9 | 10 | 9 | 15 | 9 | 9 | 9 | 10 |
| Depreciation | 77 | 76 | 81 | 88 | 93 | 92 | 95 | 104 | 110 | 106 | 106 | 109 | 112 |
| Profit before tax | 487 | 382 | 335 | 391 | 599 | 549 | 363 | 377 | 701 | 470 | 415 | 408 | 918 |
| Tax % | 26% | 25% | 26% | 26% | 25% | 26% | 26% | 26% | 26% | 26% | 23% | 26% | 21% |
| Net Profit + | 358 | 287 | 249 | 288 | 447 | 408 | 268 | 278 | 517 | 348 | 318 | 300 | 723 |
| EPS in Rs | 5.71 | 4.58 | 3.97 | 4.59 | 7.13 | 6.51 | 4.28 | 4.44 | 8.26 | 5.55 | 5.09 | 4.80 | 11.53 |
Financials of Havells India Ltd
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 8,468 | 7,594 | 6,130 | 8,116 | 10,073 | 9,440 | 10,457 | 13,938 | 16,911 | 18,590 | 21,778 | 22,528 |
| Expenses + | 7,713 | 6,798 | 5,315 | 7,083 | 8,885 | 8,373 | 8,868 | 12,163 | 15,290 | 16,709 | 19,603 | 20,286 |
| Operating Profit | 755 | 796 | 815 | 1,033 | 1,189 | 1,067 | 1,589 | 1,775 | 1,621 | 1,881 | 2,175 | 2,241 |
| OPM % | 9% | 10% | 13% | 13% | 12% | 11% | 15% | 13% | 10% | 10% | 10% | 10% |
| Other Income + | 48 | 949 | 42 | 97 | 124 | 106 | 187 | 159 | 178 | 249 | 288 | 479 |
| Interest | 96 | 91 | 13 | 25 | 16 | 51 | 90 | 67 | 55 | 84 | 72 | 79 |
| Depreciation | 139 | 134 | 121 | 140 | 149 | 218 | 249 | 261 | 296 | 338 | 400 | 432 |
| Profit before tax | 569 | 1,520 | 723 | 965 | 1,147 | 904 | 1,438 | 1,607 | 1,447 | 1,707 | 1,990 | 2,210 |
| Tax % | 32% | 14% | 32% | 31% | 31% | 19% | 27% | 26% | 26% | 26% | 26% | 24% |
| Net Profit + | 385 | 1,300 | 494 | 661 | 788 | 735 | 1,044 | 1,196 | 1,072 | 1,271 | 1,470 | 1,689 |
| EPS in Rs | 6.17 | 20.82 | 7.91 | 10.60 | 12.59 | 11.75 | 16.68 | 19.10 | 17.11 | 20.28 | 23.48 | 26.95 |
| Dividend Payout % | 49% | 29% | 44% | 4% | 36% | 34% | 39% | 39% | 44% | 44% | 43% | 37% |
Financials of Havells India Ltd
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 62 | 62 | 62 | 63 | 63 | 63 | 63 | 63 | 63 | 63 | 63 | 63 |
| Reserves | 1,756 | 2,965 | 3,214 | 3,667 | 4,135 | 4,249 | 5,114 | 5,940 | 6,563 | 7,384 | 8,261 | 9,393 |
| Borrowings + | 424 | 134 | 208 | 115 | 94 | 72 | 521 | 616 | 223 | 303 | 319 | 265 |
| Other Liabilities + | 2,546 | 1,225 | 1,683 | 2,763 | 2,856 | 2,690 | 3,155 | 3,904 | 4,309 | 4,683 | 5,167 | 5,026 |
| Total Liabilities | 4,788 | 4,387 | 5,168 | 6,608 | 7,148 | 7,073 | 8,852 | 10,523 | 11,157 | 12,433 | 13,809 | 14,746 |
| Fixed Assets + | 1,541 | 1,224 | 1,300 | 2,819 | 2,904 | 3,350 | 3,290 | 3,434 | 3,621 | 3,988 | 4,652 | 5,343 |
| CWIP | 38 | 20 | 12 | 24 | 233 | 86 | 90 | 57 | 166 | 299 | 118 | 443 |
| Investments | 0 | 189 | 162 | 0 | 0 | 0 | 306 | 426 | 201 | 20 | 11 | 888 |
| Other Assets + | 3,209 | 2,954 | 3,694 | 3,765 | 4,012 | 3,638 | 5,166 | 6,606 | 7,170 | 8,126 | 9,028 | 8,072 |
| Total Assets | 4,788 | 4,387 | 5,168 | 6,608 | 7,148 | 7,073 | 8,852 | 10,523 | 11,157 | 12,433 | 13,809 | 14,746 |
Financials of Havells India Ltd
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 963 | 513 | 767 | 1,100 | 501 | 827 | 660 | 1,728 | 565 | 1,953 | 1,523 | 1,572 |
| Cash from Investing Activity + | -485 | -121 | -220 | -946 | 185 | -548 | -763 | -759 | 31 | -1,618 | -305 | -895 |
| Cash from Financing Activity + | -754 | -621 | -98 | -409 | -318 | -716 | 190 | -547 | -907 | -534 | -677 | -693 |
| Net Cash Flow | -277 | -229 | 450 | -255 | 368 | -437 | 87 | 421 | -311 | -199 | 541 | -17 |
| Free Cash Flow | 793 | 299 | 529 | -489 | 2 | 467 | 507 | 1,475 | -21 | 1,191 | 769 | 156 |
| CFO/OP | 153% | 87% | 119% | 130% | 63% | 100% | 59% | 121% | 59% | 125% | 93% | 93% |
Financials of Havells India Ltd
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 27 | 11 | 14 | 15 | 15 | 9 | 20 | 20 | 21 | 23 | 21 | 13 |
| Inventory Days | 103 | 70 | 99 | 124 | 115 | 121 | 153 | 119 | 119 | 102 | 104 | 110 |
| Days Payable | 79 | 42 | 66 | 125 | 94 | 92 | 93 | 95 | 85 | 81 | 78 | 72 |
| Cash Conversion Cycle | 51 | 39 | 46 | 14 | 36 | 39 | 79 | 44 | 55 | 44 | 47 | 51 |
| Working Capital Days | -6 | -3 | -8 | -17 | -0 | 1 | 20 | 7 | 25 | 11 | 12 | 14 |
| ROCE % | 27% | 28% | 25% | 27% | 29% | 22% | 30% | 27% | 22% | 24% | 25% | 25% |