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Havells IndiaNSE:HAVELLS -0.23%89 Return-on-Tangible-Asset is 8.79% as of Jun. 2026, which is 32% below its 10-year median of 12.99. GuruFocus rates NSE:HAVELLS with a GF Score™ of 89/100 and a GF Value™ of ₹1,768.29 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 3,077 Industrial Products companies, Havells India ranks better than 91.1% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Havells India's annualizedNet Income for the quarter that ended in Jun. 2026 was ₹11,615 Mil. Havells India's average total tangible assets for the quarter that ended in Jun. 2026 was ₹132,134 Mil. Therefore, Havells India's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 8.79%.
The historical rank and industry rank for Havells India's Return-on-Tangible-Asset or its related term are showing as below:
NSE:HAVELLS'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 10.44 Med: 12.99 Max: 16.02
Current: 12.94
During the past 13 years, Havells India's highest Return-on-Tangible-Asset was 16.02%. The lowest was 10.44%. And the median was 12.99%.
NSE:HAVELLS's Return-on-Tangible-Asset is ranked better than 91.1% of 3077
companies
in the Industrial Products industry
Industry Median: 3.31
vs NSE:HAVELLS: 12.94
Havells India (NSE:HAVELLS) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Havells India Return-on-Tangible-Asset Related Terms
Havells India Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Havells India's Return-on-Tangible-Asset 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.
NSE:HAVELLS vs VRT, BE: Return-on-Tangible-Asset Comparison
For the Electrical Equipment & Parts subindustry, Havells India's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Havells India's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Havells India's Return-on-Tangible-Asset 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Jun. 2026) net income data.
What does a Return-on-Tangible-Asset of 8.79% mean?
Havells India (NSE:HAVELLS) has a Return-on-Tangible-Asset of 8.79% as of Jun. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Havells India and its competitors. This is 32% below median its historical median of 12.99. Over the past decade, Havells India's Return-on-Tangible-Asset has ranged from 10.44 to 16.02. According to the industry distribution chart, Havells India ranks #274 out of 3077 companies in the Industrial Products industry, placing it in the top 8.9%.
Is Havells India's Return-on-Tangible-Asset too high?
Havells India's current Return-on-Tangible-Asset of 8.79% is 32% below median its 10-year median of 12.99. Over the past 10 years, this metric has ranged from a low of 10.44 to a high of 16.02. The Industrial Products industry median Return-on-Tangible-Asset is 3.31. Havells India's value of 8.79% is 165.6% above this industry median. Based on the distribution chart, Havells India ranks #274 out of 3077 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Havells India has a GF Score™ of 89/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Havells India's Return-on-Tangible-Asset compare to VRT and BE?
According to the Industrial Products industry distribution chart, Havells India ranks #274 out of 3077 companies for Return-on-Tangible-Asset. This places Havells India in the top 9% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.31. Havells India's value of 8.79% is 165.6% above this benchmark. Historically, Havells India's own Return-on-Tangible-Asset has ranged from 10.44 to 16.02 over the past decade. While the company's 10-year median is 12.99 vs. the industry median of 3.31, 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 Return-on-Tangible-Asset for an Industrial Products company?
The median Return-on-Tangible-Asset among Industrial Products companies is 3.31, based on 3,077 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Havells India's current Return-on-Tangible-Asset of 8.79% is 165.6% 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Havells India and its competitors. For the Industrial Products industry, the median Return-on-Tangible-Asset is 3.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Havells India's current Return-on-Tangible-Asset is 8.79%, which is 32% below median its own 10-year median of 12.99. 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 Modestly Undervalued. The stock's GF Value™ is ₹1,768.29, compared to a current price of ₹1,285.00 — trading 27.3% below its estimated fair value. The current Return-on-Tangible-Asset is 8.79%, which is 32% below median its 10-year median of 12.99 and 165.6% above the Industrial Products industry median of 3.31. Havells India's overall GF Score™ is 89/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Havells India (NSE:HAVELLS), the current Return-on-Tangible-Asset is 8.79% as of Jun. 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 ₹1,285.00 is trading 27.3% below its estimated GF Value™ of ₹1,768.29.
GuruFocus considers Havells India to be Modestly Undervalued.
Key valuation signals for NSE:HAVELLS:
Return-on-Tangible-Asset: 8.79% (32% below median its 10-year median of 12.99)
GF Value™: ₹1,768.29 vs. price of ₹1,285.00 (27.3% below fair value)
Industry Position: 165.6% above the Industrial Products median (#274 of 3077)
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).
89GF Score
Get the complete analysis for NSE:HAVELLS
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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