Havells India Limited: Business Overview, Financials & Competitive Analysis
Havells India Limited scores 7/10 on the AskCyborg Cyborg Score (Solid). Diversified electrical equipment leader with structural growth from India's infrastructure and renewable energy expansion, offset by near-term margin pressures and moderate growth deceleration. Havells demonstrated strong growth with 17% revenue CAGR and 16% EBITDA CAGR over the past year ending March 31, 2025. The company has diversified product lines.
What is Havells India Limited's industry? Havells India Limited (havells.com) operates in Electrical Equipment. AskCyborg classifies Havells India Limited under Electrical Equipment in its company registry.
Havells India Limited is a leading Fast Moving Electrical Goods (FMEG) company and major power distribution equipment manufacturer with market dominance across Industrial & Domestic Circuit Protection Devices, Cables ...
Cyborg Score thesis
Diversified electrical equipment leader with structural growth from India's infrastructure and renewable energy expansion, offset...
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Get Current Report FreeHavells India Limited Overview
Pro stress-test →Havells India Limited is a leading Fast Moving Electrical Goods (FMEG) company and major power distribution equipment manufacturer with market dominance across Industrial & Domestic Circuit Protection Devices, Cables & Wires, Motors, Fans, Modular Switches, Home Appliances, Air Conditioners, Electric Water Heaters, Power Capacitors, and Luminaires for domestic, commercial, and industrial applications. In fiscal year 2026 (ended March 31, 2026), Havells achieved revenue of ₹225.28 billion with earnings growth of 14.83% year-over-year.
Strategic Profile
Pro stress-test →Havells has a market capitalization of ₹74,658 crore with 59.4% promoter holding. The company operates through six segments: Switchgears, Cables, Lighting and Fixtures, Electrical Consumer Durables, Lloyd Consumer, and Others. Havells invested ₹600 crores in Goldi Solar Pvt Ltd in Q1 FY26 and signed an MoU in July 2026 to develop Battery Energy Storage Systems (BESS) for India, positioning itself for renewable energy infrastructure growth.
Competitive Landscape
Pro stress-test →Havells competes with Finolex Cables, Crompton Greaves Consumer Electricals, Luminous Power Technologies, Panasonic Compressor (Dalian), and Bajaj Electricals. Havells maintains market leadership in cables (now ~39% of revenue), switchgears, and consumer electricals through established distribution, diversified product portfolio, and expanding renewable energy capabilities. Competition remains intense in cables, lighting, and consumer durables segments.
Industry Context
Havells India Limited operates in Electrical Equipment.
Key facts
Founded: 1983 · Headquarters: New Delhi, India · Employees: 7,467 (as of January 2026) · Revenue: ₹225.28 billion (FY2026 ended March 31, 2026) · Market cap: ₹74,658 crore (~$8.95B as of April 2026)