Havells India (NSE:HAVELLS) Dividend Payout Ratio: 0.35 (As of Mar. 2026) — Near Median


NSE:HAVELLS Havells India Ltd NSE:HAVELLS
94 GF Score
Price ₹1,188.40
GF Value ₹1,777.63
Valuation Significantly Undervalued
! 3 Warning Signs
View Full Analysis

What is Havells India Dividend Payout Ratio?

Havells India NSE:HAVELLS -0.20% 94 Dividend Payout Ratio is 0.35 as of Mar. 2026, which is at its 10-year median of 0.35. GuruFocus rates NSE:HAVELLS with a GF Score™ of 94/100 and a GF Value™ of ₹1,777.63 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 1,720 Industrial Products companies, Havells India ranks better than 51.69% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Havells India's Dividend Payout Ratio for the months ended in Mar. 2026 was 0.35.

The historical rank and industry rank for Havells India's Dividend Payout Ratio or its related term are showing as below:

NSE:HAVELLS' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.18   Med: 0.35   Max: 0.7
Current: 0.36

During the past 13 years, the highest Dividend Payout Ratio of Havells India was 0.70. The lowest was 0.18. And the median was 0.35.

NSE:HAVELLS's Dividend Payout Ratio is ranked better than
51.69% of 1720 companies
in the Industrial Products industry
Industry Median: 0.37 vs NSE:HAVELLS: 0.36

As of today (2026-07-12), the Dividend Yield % of Havells India is 0.84%.

During the past 13 years, the highest Trailing Annual Dividend Yield of Havells India was 1.85%. The lowest was 0.28%. And the median was 0.58%.

Havells India's Dividends per Share for the months ended in Mar. 2026 was ₹4.00.

During the past 3 years, the average Dividends Per Share Growth Rate was 10.10% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 23.20% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 13.70% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Havells India was 115.40% per year. The lowest was -5.00% per year. And the median was 26.00% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Havells India (NSE:HAVELLS) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Havells India Dividend Payout Ratio Related Terms

Havells India Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Havells India's Dividend Payout Ratio 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 Dividend Payout Ratio Chart

Havells India Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Dividend Payout Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.34 0.43 0.37 0.42 0.41

Havells India Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Dividend Payout Ratio 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 0.48 1.08 0.00 0.00 0.35

NSE:HAVELLS vs VRT, BE: Dividend Payout Ratio Comparison

For the Electrical Equipment & Parts subindustry, Havells India's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout 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 Dividend Payout Ratio vs Industrial Products Industry

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

* The bar in red indicates where Havells India's Dividend Payout Ratio falls into.


NSE:HAVELLS
94GF Score
Havells India Ltd NSE:HAVELLS
Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Havells India Dividend Payout Ratio Calculation

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period.

Havells India's Dividend Payout Ratio for the fiscal year that ended in Mar. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (A: Mar. 2026 )/ EPS without NRI (A: Mar. 2026 )
=10/ 24.5
=0.41

Havells India's Dividend Payout Ratio for the quarter that ended in Mar. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (Q: Mar. 2026 )/ EPS without NRI (Q: Mar. 2026 )
=4/ 11.481
=0.35

* 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 Dividend Payout Ratio →
What does a Dividend Payout Ratio of 0.35 mean?
Havells India (NSE:HAVELLS) has a Dividend Payout Ratio of 0.35 as of Mar. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Havells India and its competitors. This is near median its historical median of 0.35. Over the past decade, Havells India's Dividend Payout Ratio has ranged from 0.18 to 0.70. According to the industry distribution chart, Havells India ranks #831 out of 1720 companies in the Industrial Products industry, placing it in the top 48.3%.
Is Havells India's Dividend Payout Ratio too high?
Havells India's current Dividend Payout Ratio of 0.35 is near median its 10-year median of 0.35. Over the past 10 years, this metric has ranged from a low of 0.18 to a high of 0.70. The Industrial Products industry median Dividend Payout Ratio is 0.37. Havells India's value of 0.35 is 5.4% below this industry median. Based on the distribution chart, Havells India ranks #831 out of 1720 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 Dividend Payout Ratio compare to VRT and BE?
According to the Industrial Products industry distribution chart, Havells India ranks #831 out of 1720 companies for Dividend Payout Ratio. This puts Havells India in the upper half of its industry. The industry median Dividend Payout Ratio is 0.37. Havells India's value of 0.35 is 5.4% below this benchmark. Historically, Havells India's own Dividend Payout Ratio has ranged from 0.18 to 0.70 over the past decade. While the company's 10-year median is 0.35 vs. the industry median of 0.37, Havells India has consistently been below 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 Dividend Payout Ratio for an Industrial Products company?
The median Dividend Payout Ratio among Industrial Products companies is 0.37, based on 1,720 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Havells India's current Dividend Payout Ratio of 0.35 is 5.4% below 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 Dividend Payout Ratio mean?
A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Havells India and its competitors. For the Industrial Products industry, the median Dividend Payout Ratio is 0.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Havells India's current Dividend Payout Ratio is 0.35, which is near median its own 10-year median of 0.35. 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 ₹1,777.63, compared to a current price of ₹1,188.40 — trading 33.1% below its estimated fair value. The current Dividend Payout Ratio is 0.35, which is near median its 10-year median of 0.35 and 5.4% below the Industrial Products industry median of 0.37. 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 Dividend Payout Ratio calculated?
Dividend Payout Ratio is calculated from a company's financial statements. For Havells India (NSE:HAVELLS), the current Dividend Payout Ratio is 0.35 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 ₹1,188.40 is trading 33.1% below its estimated GF Value™ of ₹1,777.63. GuruFocus considers Havells India to be Significantly Undervalued.

Key valuation signals for NSE:HAVELLS:

  • Dividend Payout Ratio: 0.35 (near median its 10-year median of 0.35)
  • GF Value™: ₹1,777.63 vs. price of ₹1,188.40 (33.1% below fair value)
  • GF Score™: 94/100 with 3 warning signs
  • Industry Position: 5.4% below the Industrial Products median (#831 of 1720)

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).
94GF Score

Get the complete analysis for NSE:HAVELLS

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

₹1,188.40
Price
₹1,777.63
GF Value