Content:
- Company Overview of Voltas Ltd
- Company Overview of Havells India Ltd
- The Stock Performance of Voltas Limited
- The Stock Performance of Havells India Limited
- Fundamental Analysis of Voltas Ltd
- Fundamental Analysis of Havells India
- Financial Comparison of Voltas and Havells India
- Dividend of Voltas and Havells India
- Advantages and Disadvantages of Investing in Voltas Limited
- Advantages and Disadvantages of Investing in Havells India
- How to Invest in Havells India and Voltas Stocks?
- Voltas vs Havells India Limited – Conclusion
- Voltas vs. Havells India – FAQ
Company Overview of Voltas Ltd
Voltas Limited is an India-based provider of air conditioning and engineering solutions, specializing in project execution. The company operates through three main segments: Unitary Cooling Products, Electro-Mechanical Projects and Services and Engineering Products and Services. The Unitary Cooling Products segment focuses on the manufacturing, sale and after-sales service of cooling appliances and cold storage products, along with facilities maintenance and hard services.
This includes operations and maintenance contracts across various sectors, retrofits and energy management services. Lastly, the Engineering Products and Services segment offers textile machinery and equipment for mining and construction.
Company Overview of Havells India Ltd
Havells India Limited is an Indian company that specializes in fast moving electrical goods (FMEG) and the manufacturing of power distribution equipment. Its product range includes industrial and domestic circuit protection devices, cables, wires, motors, fans, switches, home appliances, air conditioners, water heaters, power capacitors and lighting solutions for various applications.
The company operates a network of over 700 exclusive brand showrooms known as Havells Exclusive Brand Stores nationwide, allowing customers to select from a diverse range of products. Additionally, Havells offers a convenient doorstep service through its Havells Connect program.
The Stock Performance of Voltas Limited
The table below displays the month-by-month stock performance of Voltas Ltd for the past year.
| Month | Return (%) |
| Feb-2024 | 1.66 |
| Mar-2024 | -1.19 |
| Apr-2024 | 33.64 |
| May-2024 | -8.25 |
| Jun-2024 | 4.41 |
| Jul-2024 | 4.44 |
| Aug-2024 | 13.22 |
| Sep-2024 | 5.15 |
| Oct-2024 | -10.6 |
| Nov-2024 | -0.29 |
| Dec-2024 | 7.38 |
| Jan-2025 | -29.56 |
The Stock Performance of Havells India Limited
The table below displays the month-by-month stock performance of Havells India Ltd for the past year.
| Month | Return (%) |
| Feb-2024 | 17.62 |
| Mar-2024 | -0.91 |
| Apr-2024 | 8.83 |
| May-2024 | 13.13 |
| Jun-2024 | -7.96 |
| Jul-2024 | 1.55 |
| Aug-2024 | 2.25 |
| Sep-2024 | 4.84 |
| Oct-2024 | -18.89 |
| Nov-2024 | 3.81 |
| Dec-2024 | -3.0 |
| Jan-2025 | -6.58 |
Fundamental Analysis of Voltas Ltd
Voltas Ltd is a prominent Indian company known for its expertise in air conditioning and cooling solutions. Established in 1954, it has built a strong reputation in the field of engineering and project management. Voltas offers a diverse range of products, including air conditioners, refrigerators and commercial refrigeration equipment, catering to various sectors such as residential, industrial and commercial markets.
The stock is currently priced at ₹1,241.60, with a market capitalization of ₹41,312.61 crore. It has delivered a 1-year return of 13.16% but has struggled in the short term, with a 6-month decline of -22.77% and a 1-month drop of -23.19%. The stock is trading 56.64% below its 52-week high, indicating a significant correction.
- Close Price ( ₹ ): 1241.60
- Market Cap ( Cr ): 41312.61
- Dividend Yield %: 0.44
- 1Y Return %: 13.16
- 6M Return %: -22.77
- 1M Return %: -23.19
- 5Y CAGR %: 12.31
- % Away From 52W High: 56.64
- 5Y Avg Net Profit Margin %: 4.58
Fundamental Analysis of Havells India
Havells India Limited is a prominent electrical equipment manufacturer and one of the leading brands in India. Established in 1958, the company has built its reputation through a diverse range of high-quality products, including switches, circuit breakers, cables and fans. Havells places a strong emphasis on innovation and technology, continuously upgrading its offerings to meet market demands and safety standards.
The stock is currently priced at ₹1,532.55, with a market capitalization of ₹95,455.01 crore. It has delivered an 8.65% return over the past year but has faced short-term declines, with a 6-month drop of -18.56% and a 1-month decrease of -3.59%. Trading 37.42% below its 52-week high, it shows signs of correction.
- Close Price ( ₹ ): 1532.55
- Market Cap ( Cr ): 95455.01
- Dividend Yield %: 0.59
- 1Y Return %: 8.65
- 6M Return %: -18.56
- 1M Return %: -3.59
- 5Y CAGR %: 20.52
- % Away From 52W High: 37.42
- 5Y Avg Net Profit Margin %: 7.79
Financial Comparison of Voltas and Havells India
The table below shows a financial comparison of Voltas Ltd and Havells India Ltd.
| Stock | VOLTAS | HAVELLS | ||||
| Financial type | FY 2023 | FY 2024 | TTM | FY 2023 | FY 2024 | TTM |
| Total Revenue (₹ Cr) | 9667.22 | 12734.47 | 15147.31 | 17200.96 | 18838.97 | 20986.82 |
| EBITDA (₹ Cr) | 376.35 | 589.27 | 1140.82 | 1798.29 | 2130.08 | 2318.71 |
| PBIT (₹ Cr) | 336.73 | 541.68 | 1081.28 | 1502.12 | 1791.58 | 1934.60 |
| PBT (₹ Cr) | 307.14 | 485.8 | 1021.66 | 1447.06 | 1707.37 | 1888.87 |
| Net Income (₹ Cr) | 135.01 | 252.0 | 716.79 | 1071.73 | 1270.76 | 1401.13 |
| EPS (₹) | 4.08 | 7.62 | 21.67 | 17.11 | 20.28 | 22.36 |
| DPS (₹) | 4.25 | 5.5 | 5.50 | 7.5 | 9.0 | 12.00 |
| Payout ratio (%) | 1.04 | 0.72 | 0.25 | 0.44 | 0.44 | 0.54 |
Points to be noted:
- (TTM) Trailing 12 Months – Trailing 12 months (TTM) is used to describe the past 12 consecutive months of a company’s performance data when reporting financial figures.
- EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization): Measures a company’s profitability before accounting for financial and non-cash expenses.
- PBIT (Profit Before Interest and Tax): Reflects operating profit by excluding interest and taxes from total revenue.
- PBT (Profit Before Tax): Indicates profit after deducting operating costs and interest but before taxes.
- Net Income: Represents the company’s total profit after all expenses, including taxes and interest, are deducted.
- EPS (Earnings Per Share): Shows the portion of a company’s profit allocated to each outstanding share of stock.
- DPS (Dividend Per Share): Reflects the total dividend paid out per share over a specific period.
- Payout Ratio: Measures the proportion of earnings distributed as dividends to shareholders.
Dividend of Voltas and Havells India
The table below shows a dividend paid by the company.
| Havells India | Voltas | ||||||
| Announcement Date | Ex-Dividend Date | Dividend Type | Dividend (Rs) | Announcement Date | Ex-Dividend Date | Dividend Type | Dividend (Rs) |
| 10 Jan, 2025 | 22 Jan, 2025 | Interim | 4 | 7 May, 2024 | 25 June, 2024 | Final | 5.5 |
| 30 Apr, 2024 | 31 May, 2024 | Final | 6 | 26 Apr, 2023 | 9 June, 2023 | Final | 4.25 |
| 16 Jan, 2024 | 1 February, 2024 | Interim | 3 | 5 May, 2022 | 9 June, 2022 | Final | 5.5 |
| 3 May, 2023 | 2 Jun, 2023 | Final | 4.5 | 12 May, 2021 | 11 August, 2021 | Final | 5 |
| 6 Jan, 2023 | 25 January, 2023 | Interim | 3 | 29 May, 2020 | 5 August, 2020 | Final | 4 |
| 4 May, 2022 | 14 Jun 2022 | Final | 4.5 | 9 May, 2019 | 17 July, 2019 | Final | 4 |
| 11 Oct, 2021 | 27 Oct, 2021 | Interim | 3 | 17 May, 2018 | 3 August, 2018 | Final | 4 |
| 20 May, 2021 | 17 June, 2021 | Final | 3.5 | 24 May, 2017 | 4 August, 2017 | Final | 3.5 |
| 11 Jan, 2021 | 28 January, 2021 | Interim | 3 | 17 May, 2016 | 5 Aug, 2016 | Final | 2.6 |
| 27 Feb, 2020 | 16 March, 2020 | Interim | 4 | 21 May, 2015 | 10 Jul, 2015 | Final | 2.25 |
Advantages and Disadvantages of Investing in Voltas Limited
Voltas Ltd
The primary advantage of Voltas Ltd lies in its market leadership in air conditioning and cooling solutions, supported by its strong brand reputation, extensive distribution network and innovation in energy-efficient products. Its diverse business segments ensure revenue stability and long-term growth in a competitive industry.
- Market Leadership
Voltas holds a dominant position in India’s air conditioning market, benefiting from strong brand recognition and customer loyalty. This leadership ensures stable revenue generation and provides investors with confidence in the company’s ability to sustain long-term profitability. - Strong Financial Performance
The company has consistently maintained a strong financial track record, with steady revenue growth and profitability. Its ability to generate consistent earnings and manage expenses effectively makes it an attractive investment for those seeking stability and returns. - Diversified Business Segments
Voltas operates across various segments, including cooling appliances, engineering solutions, and water management projects. This diversified business model helps mitigate risks and ensures multiple revenue streams, reducing dependence on a single market for profitability. - Expanding International Presence
The company has been strengthening its global footprint, particularly in the Middle East and Africa. This international expansion enhances revenue potential, providing investors with exposure to growing markets and reducing reliance on the Indian economy alone.
Investing in Voltas Ltd comes with potential risks, including market fluctuations, economic dependence, and rising costs. Despite being a strong player in the cooling and engineering solutions sector, external factors can impact its stock performance and overall profitability.
- Market Volatility
Voltas’ stock is influenced by macroeconomic trends, inflation, and global uncertainties. Market downturns or decreased consumer spending can negatively impact the company’s revenue and stock prices, making it a risky option for short-term investors seeking stable returns. - Intense Industry Competition
The company faces strong competition from brands like Blue Star, LG, and Daikin. Competitive pricing pressures can affect profit margins, limiting Voltas’ ability to expand its market share and potentially reducing investor confidence in its long-term growth prospects. - Seasonal Demand Dependence
Voltas’ revenue heavily relies on seasonal demand for air conditioning and cooling products. Weak summers or unseasonal weather changes can lead to lower sales, affecting profitability and causing fluctuations in stock performance, making it unpredictable for investors. - Fluctuating Raw Material Costs
Rising costs of essential raw materials like copper and aluminium can impact profit margins. Supply chain disruptions and inflation can further increase production costs, making it difficult for Voltas to maintain stable earnings and consistent returns for investors. - Foreign Exchange and Import Risks
Voltas imports a significant portion of its components, exposing it to currency fluctuations. Depreciation of the Indian Rupee against the US Dollar can increase costs, impacting profitability and making investment returns more uncertain in a volatile economic environment.
Advantages and Disadvantages of Investing in Havells India
Havells India Ltd
The primary advantages of investing in Havells India Ltd include substantial brand value, financial stability, and a diversified product portfolio. As a leader in the electrical and consumer goods industry, the company provides investors with long-term growth potential and consistent returns.
- Strong Brand Recognition
Havells is a well-established brand with a strong market presence in electrical and consumer goods. Its reputation for quality and innovation enhances customer loyalty, making it a reliable choice for investors seeking stability and sustained business growth. - Consistent Financial Performance
The company has demonstrated steady revenue growth and profitability over the years. Its strong balance sheet, minimal debt, and efficient cost management make it an attractive investment for those looking for financial security and long-term value appreciation. - Diversified Product Portfolio
Havells offers a wide range of products, including lighting, switches, fans, and appliances. This diversification helps reduce dependence on any single product category, ensuring stable revenue generation and minimizing risks associated with market fluctuations. - Robust Distribution Network
With a vast distribution network across India and expanding international reach, Havells ensures strong market penetration. This wide presence boosts sales growth, enhances brand visibility, and contributes to the company’s ability to maintain a competitive edge in the industry. - Focus on Innovation and Sustainability
Havells invests in research and development to introduce energy-efficient and smart products. This commitment to innovation aligns with growing consumer demand for sustainable solutions, positioning the company well for future growth and enhancing investor confidence in long-term returns.
Investing in Havells India Ltd carries certain risks, including market fluctuations, raw material dependency, and high competition. Despite its strong presence in the electrical and consumer goods sector, external factors can impact profitability and stock performance, affecting investor returns.
- Market Volatility
Havells’ stock performance is sensitive to economic cycles and consumer demand. Any economic slowdown or reduced infrastructure spending can negatively impact sales, leading to fluctuations in stock prices and making short-term investments riskier for investors. - Intense Industry Competition
The company faces stiff competition from both domestic and global brands like Bajaj, Crompton, and Philips. This competitive landscape can limit market share expansion, pressuring pricing strategies and affecting overall profit margins over time. - Dependence on Raw Material Prices
Havells relies on raw materials like copper, aluminium, and plastics, which are subject to price fluctuations. Rising raw material costs can squeeze profit margins, impacting the company’s earnings and reducing investor confidence in stock performance. - Regulatory and Compliance Risks
Government policies, taxation, and regulatory changes can impact Havells’ operations. Compliance with environmental laws and safety regulations may lead to additional costs, affecting profitability and making investment returns uncertain in the long run. - Foreign Exchange Risk
With a global presence and imported components, Havells is exposed to currency exchange fluctuations. Depreciation of the Indian rupee can increase import costs, impacting financial performance and creating uncertainty for investors looking for stable returns.
How to Invest in Havells India and Voltas Stocks?
Suppose you are looking to invest in Havells India and Voltas Stocks. In that case, you can easily do so through Alice Blue, where purchasing stocks is absolutely free with zero brokerage on equity delivery trades.
Step 1: Open a Demat & Trading Account
- Visit Alice Blue’s website
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Step 2: Add Funds to Your Trading Account
- Log in to Alice Blue and go to the Funds section.
- Add money via UPI, Net Banking, or NEFT/RTGS for smooth transactions.
Step 3: Search & Analyze Havells India and Voltas Stocks.
- Use the search bar to find Havells India and Voltas Stocks.
- Check the market price, charts and company details before investing.
Step 4: Place Your Buy Order
- Click Buy and choose Market Order (instant purchase) or Limit Order (buy at your set price).
- Enter the quantity and confirm your order.
Voltas vs Havells India Limited – Conclusion
Voltas is a leader in air conditioning and engineering solutions with a strong market presence. Despite its reliance on seasonal demand, it offers significant growth potential through energy-efficient innovations, a broad product portfolio and an extensive distribution network, making it a strong player in the HVAC sector.
Havells is a dominant player in the electrical equipment and home appliances market, known for its diverse product offerings and strong brand recognition. Its focus on innovation and quality, along with an expansive distribution network, positions it well for sustained growth and profitability in the long run.
Voltas vs. Havells India – FAQ
1. What is Voltas Ltd?
Voltas Ltd is a prominent Indian company specializing in air conditioning, refrigeration and engineering solutions. Established in 1954, it is a subsidiary of the Tata Group and is known for its innovative products and services in HVAC, water management and project management across various sectors.
2. What is Havells India Ltd?
Havells India Ltd is a prominent electrical equipment manufacturer based in India, renowned for its wide range of products, including circuit breakers, cables, lighting solutions and fans. Established in 1958, the company is recognized for its innovation and commitment to quality in the electrical industry.
3. What are Electrical Components & Equipments Stocks?
Electrical components and equipment stocks refer to shares of companies involved in manufacturing and selling products used in electrical systems, such as wires, switches, transformers, circuit breakers and cables. These companies, like Havells, Polycab and Siemens, benefit from growth in infrastructure, construction and industrial sectors.
4. Who is the CEO of Voltas Ltd?
As of February 2025, Pradeep Bakshi serves as the Managing Director and Chief Executive Officer (MD & CEO) of Voltas Ltd. He has been instrumental in leading the company to its current position in the air conditioning and engineering solutions market.
5. What Are The Main Competitors For Voltas And Havells India?
The main competitors for Voltas Ltd and Havells India Ltd in the electrical components and home appliances sectors include Blue Star, Daikin, LG Electronics, Panasonic and Whirlpool. These companies offer similar products such as air conditioners, fans, electrical equipment and home appliances, intensifying market competition.
6. What Is The Net Worth Of Havells India Vs Voltas?
As of February 2025, Havells India Ltd has a market capitalization of approximately ₹95,022 crore reflecting its strong position in the electrical equipment and home appliances sector. As of February 2025, Havells India Ltd has a market capitalization of approximately ₹95,022 crore reflecting its strong position in the electrical equipment and home appliances sector. These figures highlight Havells India’s larger market valuation compared to Voltas Ltd.
7. What Are The Key Growth Areas For Voltas?
Voltas Ltd has identified several key growth areas to strengthen its market position and drive future expansion. The company is focusing on diversifying its product portfolio, particularly in energy-efficient cooling solutions, to meet the evolving demands of consumers. Additionally, Voltas is expanding its presence in international markets, aiming to tap into new revenue streams and reduce dependence on the domestic market.
8. What Are The Key Growth Areas For Havells India Limited?
Havells India Limited is focusing on several key growth areas to strengthen its market position and drive future expansion. The company is investing in product innovation, particularly in energy-efficient and smart home solutions, to meet evolving consumer demands. Additionally, Havells is expanding its manufacturing capabilities by planning a ₹1,000 crore investment in 2024-25 to enhance production capacities for cables, refrigerators, lighting and fans.
9. Which Company Offers Better Dividends, Voltas Or Havells India?
As of February 2025, Havells India Ltd offers a higher dividend yield compared to Voltas Ltd. Havells declared a dividend of ₹4 per share in the quarter ending December 2024, resulting in a dividend yield of 0.86%. In contrast, Voltas declared a dividend of ₹5.50 per share in the quarter ending March 2024, translating to a dividend yield of 0.43%. Therefore, Havells India Ltd provides a more favourable dividend yield for investors.
10. Which Stock Is Better For Long-term Investors, Voltas Or Havells India?
As of February 2025, Havells India Ltd has demonstrated a robust financial performance, with a market capitalization of approximately ₹95,022 crore, reflecting its strong position in the electrical equipment and home appliances sector. In contrast, Voltas Ltd has a market capitalization of around ₹42,322 crore, indicating its significant presence in the air conditioning and engineering solutions market.
11. Which Sectors Contribute Most To Voltas And Havells India’s Revenue?
In the fiscal year 2024, Havells India Ltd reported a total revenue of ₹18,550 crore, with the Cables segment contributing the largest share at ₹6,318 crore, accounting for approximately 34% of the net revenue. In the same period, Voltas Ltd achieved revenue of ₹8,987.76 crore, with the Unitary Cooling Products (UCP) segment being the primary contributor, generating ₹8,160 crore, which represents about 91% of the total revenue.
12. Which Stocks Are More Profitable, Voltas Or Havells India Ltd?
As of February 2025, Havells India Ltd reported a net profit margin of 6.86% for the fiscal year ending March 2024, indicating a strong profitability position. In contrast, Voltas Ltd reported a net profit margin of 6.95% for the same period, slightly higher than Havells India’s margin. Both companies have demonstrated consistent profitability, with Voltas Ltd marginally outperforming Havells India Ltd in terms of net profit margin.
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Disclaimer: The above article is written for educational purposes and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
