Havells India (NSE:HAVELLS) EBIT: ₹22,469 Mil (TTM As of Mar. 2026)


NSE:HAVELLS Havells India Ltd NSE:HAVELLS
93 GF Score
Price ₹1,178.30
GF Value ₹1,765.24
Valuation Significantly Undervalued
! 3 Warning Signs
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What is Havells India EBIT?

Havells India NSE:HAVELLS -0.67% 93 EBIT is ₹22,469 Mil as of Mar. 2026. GuruFocus rates NSE:HAVELLS with a GF Score™ of 93/100 and a GF Value™ of ₹1,765.24 (Significantly Undervalued). The stock has 3 warning signs investors should review.

Havells India's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was ₹9,275 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was ₹22,469 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Havells India's annualized ROC % for the quarter that ended in Mar. 2026 was 22.48%. Havells India's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 68.84%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Havells India's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 3.13%.


Havells India  (NSE:HAVELLS) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Havells India's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=24581.2 * ( 1 - 21.17% )/( (0 + 86216.4)/ 1 )
=19377.35996/86216.4
=22.48 %

where

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=147462.5 - 37847.9 - ( 23398.2 - max(0, 45847.2 - 78252.3+23398.2))
=86216.4

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Havells India's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=37099.2/( ( (0 + max(0, 0)) + (43912.9 + max(9975.3, 0)) )/ 1 )
=37099.2/( ( 0 + 53888.2 )/ 1 )
=37099.2/53888.2
=68.84 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 0) - (0 + 0 + 0)
=0

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(8507.6 + 44406.7 + 2135.8) - (37847.9 + 0 + 7226.9)
=9975.3

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Havells India's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=22468.7/718294.360
=3.13 %

* 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.


Havells India EBIT Related Terms


Havells India EBIT Historical Data

* Premium members only.

The historical data trend for Havells India's EBIT 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.

Havells India EBIT Chart

Havells India Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 16,598.00 14,805.00 17,529.20 20,335.50 22,467.00

Havells India Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT 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 7,161.10 4,791.10 4,237.30 4,165.50 9,274.80

NSE:HAVELLS vs VRT, BE: EBIT Comparison

For the Electrical Equipment & Parts subindustry, Havells India's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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 EV-to-EBIT vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Havells India's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Havells India's EV-to-EBIT falls into.


NSE:HAVELLS
93GF Score
Havells India Ltd NSE:HAVELLS
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Havells India EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹22,469 Mil.

* 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of ₹22,469 Mil mean?
Havells India (NSE:HAVELLS) has a EBIT of ₹22,469 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Havells India.
Is Havells India's EBIT too high?
Havells India's current EBIT is ₹22,469 Mil. Overall, Havells India has a GF Score™ of 93/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Havells India's EBIT compare to VRT and BE?
Havells India's EBIT of ₹22,469 Mil can be compared against companies in the Industrial Products industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for an Industrial Products company?
A good EBIT depends on the Industrial Products industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Havells India. Havells India's current EBIT is ₹22,469 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Havells India stock overvalued right now?
Based on GuruFocus' analysis, Havells India (NSE:HAVELLS) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹1,765.24, compared to a current price of ₹1,178.30 — trading 33.2% below its estimated fair value. The current EBIT is ₹22,469 Mil. Havells India's overall GF Score™ is 93/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Havells India (NSE:HAVELLS), the current EBIT is ₹22,469 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Havells India (NSE:HAVELLS) Overvalued in 2026?

Based on GuruFocus' analysis, Havells India stock appears to be undervalued. The current stock price of ₹1,178.30 is trading 33.2% below its estimated GF Value™ of ₹1,765.24. GuruFocus considers Havells India to be Significantly Undervalued.

Key valuation signals for NSE:HAVELLS:

  • EBIT: ₹22,469 Mil
  • GF Value™: ₹1,765.24 vs. price of ₹1,178.30 (33.2% below fair value)
  • GF Score™: 93/100 with 3 warning signs

No single metric tells the full story. See the NSE:HAVELLS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Havells India Business Description

Other Exchanges 517354:India
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), which derives maximum revenue, 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).
93GF Score

Get the complete analysis for NSE:HAVELLS

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹1,178.30
Price
₹1,765.24
GF Value