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Havells IndiaNSE:HAVELLS -0.08%93 3-Year ROIIC % is 15.36 as of Mar. 2026, which is 1% below its 10-year median of 15.59. GuruFocus rates NSE:HAVELLS with a GF Score™ of 93/100 and a GF Value™ of ₹1,771.81 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 2,931 Industrial Products companies, Havells India ranks better than 69.53% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Havells India's 3-Year ROIIC % for the quarter that ended in Mar. 2026 was 15.36%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Havells India's 3-Year ROIIC % or its related term are showing as below:
NSE:HAVELLS's 3-Year ROIIC % is ranked better than 69.53% of 2931
companies
in the Industrial Products industry
Industry Median: 3.45
vs NSE:HAVELLS: 15.36
Havells India (NSE:HAVELLS) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Havells India 3-Year ROIIC % Related Terms
Havells India 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Havells India's 3-Year ROIIC % 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 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Havells India's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Havells India's 3-Year ROIIC % 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Havells India (NSE:HAVELLS) has a 3-Year ROIIC % of 15.36 as of Mar. 2026. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Havells India and its competitors. This is near median its historical median of 15.59. Over the past decade, Havells India's 3-Year ROIIC % has ranged from 3.38 to 32.91. According to the industry distribution chart, Havells India ranks #893 out of 2931 companies in the Industrial Products industry, placing it in the top 30.5%.
Is Havells India's 3-Year ROIIC % too high?
Havells India's current 3-Year ROIIC % of 15.36 is near median its 10-year median of 15.59. Over the past 10 years, this metric has ranged from a low of 3.38 to a high of 32.91. The Industrial Products industry median 3-Year ROIIC % is 3.45. Havells India's value of 15.36 is 345.2% above this industry median. Based on the distribution chart, Havells India ranks #893 out of 2931 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Havells India has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Havells India's 3-Year ROIIC % compare to VRT and BE?
According to the Industrial Products industry distribution chart, Havells India ranks #893 out of 2931 companies for 3-Year ROIIC %. This puts Havells India in the upper half of its industry. The industry median 3-Year ROIIC % is 3.45. Havells India's value of 15.36 is 345.2% above this benchmark. Historically, Havells India's own 3-Year ROIIC % has ranged from 3.38 to 32.91 over the past decade. While the company's 10-year median is 15.59 vs. the industry median of 3.45, 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 3-Year ROIIC % for an Industrial Products company?
The median 3-Year ROIIC % among Industrial Products companies is 3.45, based on 2,931 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Havells India's current 3-Year ROIIC % of 15.36 is 345.2% 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Havells India and its competitors. For the Industrial Products industry, the median 3-Year ROIIC % is 3.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Havells India's current 3-Year ROIIC % is 15.36, which is near median its own 10-year median of 15.59. 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 ₹1,771.81, compared to a current price of ₹1,260.70 — trading 28.8% below its estimated fair value. The current 3-Year ROIIC % is 15.36, which is near median its 10-year median of 15.59 and 345.2% above the Industrial Products industry median of 3.45. Havells India's overall GF Score™ is 93/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Havells India (NSE:HAVELLS), the current 3-Year ROIIC % is 15.36 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 ₹1,260.70 is trading 28.8% below its estimated GF Value™ of ₹1,771.81.
GuruFocus considers Havells India to be Modestly Undervalued.
Key valuation signals for NSE:HAVELLS:
3-Year ROIIC %: 15.36 (near median its 10-year median of 15.59)
GF Value™: ₹1,771.81 vs. price of ₹1,260.70 (28.8% below fair value)
Industry Position: 345.2% above the Industrial Products median (#893 of 2931)
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).
93GF Score
Get the complete analysis for NSE:HAVELLS
3-Year ROIIC % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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