Stock Price Movement and Market Context
On 29 Jan 2026, Havells India Ltd. recorded an intraday low of Rs.1257.45, representing a 2.41% drop from the previous close. The stock underperformed its sector by 0.54% and declined by 1.36% on the day. This new low is a notable setback considering the stock’s 52-week high of Rs.1712.95, reflecting a year-long depreciation of 16.90%. In contrast, the Sensex has gained 7.27% over the same period, highlighting Havells’ relative underperformance.
The broader market also faced pressure, with the Sensex falling 280.21 points (-0.31%) to close at 82,088.75 after a flat opening. Despite the Sensex trading below its 50-day moving average, the 50DMA remains above the 200DMA, indicating mixed technical signals for the market overall.
Technical Indicators Signal Weakness
Havells India is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, signalling a sustained downtrend across multiple timeframes. The recent reversal after two days of gains suggests that short-term buying interest has waned. This technical weakness is compounded by the stock’s failure to hold above key support levels, culminating in the fresh 52-week low.
Financial Performance and Valuation Metrics
The company’s recent financial results have been largely flat, with the December 2025 quarter showing no significant growth. Profit after tax (PAT) for the quarter stood at Rs.333.93 crore, reflecting a decline of 8.7% compared to the previous four-quarter average. Return on Capital Employed (ROCE) for the half-year period is at a low 22.39%, while cash and cash equivalents have decreased to Rs.1,461.65 crore, the lowest in recent periods.
Havells’ return on equity (ROE) remains relatively high at 16.9%, indicating efficient management of shareholder funds. However, the stock’s price-to-book value ratio of 9.3 suggests an expensive valuation relative to its book value. The company’s PEG ratio stands at 6.4, signalling that earnings growth has not kept pace with the stock’s price appreciation over the past year.
Turnaround taking shape! This Small Cap from NBFC sector just hit profitability with strong business fundamentals showing up. Catch it before the major breakout happens!
- - Recently turned profitable
- - Strong business fundamentals
- - Pre-breakout opportunity
Long-Term and Sectoral Performance
Over the last year, Havells India has generated a negative return of 16.90%, underperforming the broader BSE500 index as well as its sector peers. The stock has also lagged behind the Sensex, which has delivered a positive 7.27% return during the same period. This underperformance extends to the medium term, with the stock trailing the BSE500 over the last three years, one year, and three months.
Despite these challenges, Havells remains a significant player in the Electronics & Appliances sector. With a market capitalisation of Rs.81,042 crore, it is the second-largest company in the sector after Polycab India and accounts for 30.02% of the sector’s market value. The company’s annual sales of Rs.22,366.13 crore represent 24.13% of the industry’s total revenue, underscoring its sizeable market presence.
Balance Sheet and Institutional Holding Insights
Havells India maintains a low average debt-to-equity ratio of zero, reflecting a conservative capital structure with minimal leverage. This financial prudence is complemented by a high institutional holding of 34.67%, indicating substantial ownership by investors with advanced analytical capabilities and resources.
Net sales have demonstrated healthy long-term growth, expanding at an annual rate of 19.09%. This growth rate highlights the company’s ability to increase revenue despite recent stock price pressures and flat quarterly results.
Havells India Ltd. or something better? Our SwitchER feature analyzes this large-cap Electronics & Appliances stock and recommends superior alternatives based on fundamentals, momentum, and value!
- - SwitchER analysis complete
- - Superior alternatives found
- - Multi-parameter evaluation
Summary of Key Metrics
To summarise, Havells India Ltd. currently holds a Mojo Score of 38.0 with a Mojo Grade of Sell, downgraded from Hold on 20 Jan 2026. The company’s market cap grade is 1, reflecting its large size but recent valuation concerns. The stock’s recent price action and financial metrics indicate a cautious environment, with flat quarterly results, a decline in PAT, and valuation metrics that suggest limited upside relative to peers.
While the company exhibits strong management efficiency with a ROE of 18.25% and maintains a robust market position, the stock’s performance and valuation trends have contributed to its current 52-week low. Investors and market participants will note the divergence between the company’s operational scale and its recent stock price trajectory.
Market and Sector Overview
The Electronics & Appliances sector continues to face mixed market conditions, with Havells India Ltd. representing a significant portion of the sector’s market capitalisation. The Sensex remains close to its 52-week high, just 4.96% below the peak of 86,159.02, but Havells’ stock has not mirrored this strength, highlighting sector-specific and company-specific factors influencing its price movement.
Conclusion
Havells India Ltd.’s stock reaching a new 52-week low at Rs.1257.45 reflects a combination of subdued financial results, valuation pressures, and technical weakness. Despite strong institutional backing and a solid market position, the stock’s recent performance underscores challenges in maintaining momentum within a competitive sector environment. The comprehensive data points to a period of consolidation and reassessment for the company’s equity valuation.
Upgrade at special rates, valid only for the next few days. Claim Your Special Rate →
