Havells IndiaNSE:HAVELLS -0.47%94 Gross Margin % is 31.44% as of Mar. 2026, which is 3% below its 10-year median of 32.28. GuruFocus rates NSE:HAVELLS with a GF Score™ of 94/100 and a GF Value™ of ₹1,772.73 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 2,991 Industrial Products companies, Havells India ranks better than 65.8% on this metric.
Havells India Ltd gross margin has been in long-term decline. The average rate of decline per year is -1.9%.
The historical rank and industry rank for Havells India's Gross Margin % or its related term are showing as below:
NSE:HAVELLS'
s Gross Margin % Range Over the Past 10 Years
Min: 28.05 Med: 32.28 Max: 36.59
Current: 33.06
During the past 13 years, the highestGross Margin % of Havells India was 36.59%. The lowest was 28.05%. And the median was 32.28%.
NSE:HAVELLS's Gross Margin % is ranked better than 65.8% of 2991
companies
in the Industrial Products industry
Industry Median: 26.81
vs NSE:HAVELLS: 33.06
Havells India had a gross margin of 31.44% for the quarter that ended in Mar. 2026 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for Havells India was -1.90% per year.
Havells India (NSE:HAVELLS) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Havells India had a gross margin of 31.44% for the quarter that ended in Mar. 2026 => Competition eroding margins
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Havells India Gross Margin % Related Terms
Havells India Gross Margin % Historical Data
* Premium members only.
The historical data trend for Havells India's Gross Margin % 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.
For the Electrical Equipment & Parts subindustry, Havells India's Gross Margin %, along with its competitors' market caps and Gross Margin % 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 Gross Margin % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Havells India's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Havells India's Gross Margin % falls into.
* 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.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Havells India (NSE:HAVELLS) has a Gross Margin % of 31.44% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Havells India and its competitors. This is near median its historical median of 32.28. Over the past decade, Havells India's Gross Margin % has ranged from 28.05 to 36.59. According to the industry distribution chart, Havells India ranks #1023 out of 2991 companies in the Industrial Products industry, placing it in the top 34.2%.
Is Havells India's Gross Margin % too high?
Havells India's current Gross Margin % of 31.44% is near median its 10-year median of 32.28. Over the past 10 years, this metric has ranged from a low of 28.05 to a high of 36.59. The Industrial Products industry median Gross Margin % is 26.81. Havells India's value of 31.44% is 17.3% above this industry median. Based on the distribution chart, Havells India ranks #1023 out of 2991 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Havells India has a GF Score™ of 94/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Havells India's Gross Margin % compare to VRT and BE?
According to the Industrial Products industry distribution chart, Havells India ranks #1023 out of 2991 companies for Gross Margin %. This puts Havells India in the upper half of its industry. The industry median Gross Margin % is 26.81. Havells India's value of 31.44% is 17.3% above this benchmark. Historically, Havells India's own Gross Margin % has ranged from 28.05 to 36.59 over the past decade. While the company's 10-year median is 32.28 vs. the industry median of 26.81, Havells India has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for an Industrial Products company?
The median Gross Margin % among Industrial Products companies is 26.81, based on 2,991 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Havells India's current Gross Margin % of 31.44% is 17.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Havells India and its competitors. For the Industrial Products industry, the median Gross Margin % is 26.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Havells India's current Gross Margin % is 31.44%, which is near median its own 10-year median of 32.28. 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 ₹1,772.73, compared to a current price of ₹1,181.10 — trading 33.4% below its estimated fair value. The current Gross Margin % is 31.44%, which is near median its 10-year median of 32.28 and 17.3% above the Industrial Products industry median of 26.81. Havells India's overall GF Score™ is 94/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Havells India (NSE:HAVELLS), the current Gross Margin % is 31.44% 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 ₹1,181.10 is trading 33.4% below its estimated GF Value™ of ₹1,772.73.
GuruFocus considers Havells India to be Significantly Undervalued.
Key valuation signals for NSE:HAVELLS:
Gross Margin %: 31.44% (near median its 10-year median of 32.28)
GF Value™: ₹1,772.73 vs. price of ₹1,181.10 (33.4% below fair value)
Industry Position: 17.3% above the Industrial Products median (#1023 of 2991)
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 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).
94GF Score
Get the complete analysis for NSE:HAVELLS
Gross Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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