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Havells India (NSE:HAVELLS) E10 : ₹26.31 (As of Sep. 2024)


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What is Havells India E10?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Havells India's adjusted earnings per share data for the three months ended in Sep. 2024 was ₹4.280. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is ₹26.31 for the trailing ten years ended in Sep. 2024.

Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

As of today (2024-12-11), Havells India's current stock price is ₹1709.00. Havells India's E10 for the quarter that ended in Sep. 2024 was ₹26.31. Havells India's Shiller PE Ratio of today is 64.96.

During the past 13 years, the highest Shiller PE Ratio of Havells India was 74.00. The lowest was 61.79. And the median was 65.11.


Havells India E10 Historical Data

The historical data trend for Havells India's E10 can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Havells India E10 Chart

Havells India Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - - - -

Havells India Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - - 26.31

Competitive Comparison of Havells India's E10

For the Electrical Equipment & Parts subindustry, Havells India's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Havells India's Shiller PE Ratio Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Havells India's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Havells India's Shiller PE Ratio falls into.



Havells India E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Havells India's adjusted earnings per share data for the three months ended in Sep. 2024 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Sep. 2024 (Change)*Current CPI (Sep. 2024)
=4.28/157.8822*157.8822
=4.280

Current CPI (Sep. 2024) = 157.8822.

Havells India Quarterly Data

per share eps CPI Adj_EPS
200503 0.604 43.531 2.191
200603 1.214 45.521 4.211
200703 1.900 48.581 6.175
200803 2.916 52.407 8.785
200903 -2.749 56.615 -7.666
201003 1.114 65.030 2.705
201103 4.866 70.768 10.856
201203 5.930 76.889 12.177
201303 9.320 85.687 17.173
201403 7.150 91.425 12.347
201503 6.170 97.163 10.026
201603 20.820 102.518 32.064
201703 7.910 105.196 11.872
201803 10.570 109.786 15.201
201806 3.370 111.317 4.780
201809 2.870 115.142 3.935
201812 3.130 115.142 4.292
201903 3.220 118.202 4.301
201906 2.830 120.880 3.696
201909 2.870 123.175 3.679
201912 3.210 126.235 4.015
202003 2.860 124.705 3.621
202006 1.020 127.000 1.268
202009 5.210 130.118 6.322
202012 5.590 130.889 6.743
202103 4.850 131.771 5.811
202106 3.770 134.084 4.439
202109 4.830 135.847 5.613
202112 4.880 138.161 5.577
202203 5.620 138.822 6.392
202206 3.880 142.347 4.303
202209 2.980 144.661 3.252
202212 4.530 145.763 4.907
202303 5.720 146.865 6.149
202306 4.580 150.280 4.812
202309 3.970 151.492 4.137
202312 4.590 152.924 4.739
202403 7.130 153.035 7.356
202406 6.509 155.789 6.596
202409 4.280 157.882 4.280

Add all the adjusted EPS together and divide 10 will get our e10.


Havells India  (NSE:HAVELLS) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Havells India's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=1709.00/26.31
=64.96

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Shiller P/E Ratio of Havells India was 74.00. The lowest was 61.79. And the median was 65.11.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Havells India E10 Related Terms

Thank you for viewing the detailed overview of Havells India's E10 provided by GuruFocus.com. Please click on the following links to see related term pages.


Havells India Business Description

Traded in Other Exchanges
Address
2D, Expressway, QRG Towers, Sector 126, Noida, UP, IND, 201304
Havells India Ltd manufactures and distributes electrical equipment for consumer and industrial applications. Its product portfolio includes fans, appliances, switches, lighting, switch gears, circuit breakers, water heaters, air purifiers, flexible cables, air coolers, monoblock and submersible pumps, personal grooming products, motors, and reactive power solutions. The firm has seven manufacturing facilities, all of which are in India. The company operates in multiple segments: switchgear (domestic and industrial), Cables (domestic and industrial underground), Lighting and Fixtures (LED lamps), Electrical Consumer Durables (fans, water heaters), Lloyd Consumer products (air conditioners, televisions), and Others (industrial motors, water purifiers).

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