Havells India cash flow

Latest FY26

Cash from operations: ₹1,572cr+3.7% on FY25
Capital spending: ₹1,484cr+93.8% on FY25
Free cash flow: ₹87.5cr−88.3% on FY25
Cash from financing: −₹693cr−₹669 cr in FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	432	400	339	296
	—	11.0	43.7	17.7	15.9
	—	37.1	43.2	45.6	33.4
	—	−140	−226	−185	0.0
	—	−296	9.0	0.0	0.0
	—	21.9	10.5	0.0	0.0
	—	−5.2	−5.2	−0.3	−6.3
	—	0.0	15.1	197	0.0
	—	0.0	−17.1	0.0	0.0
	—	−394	−638	300	−741
	—	483	−104	−206	−225
	—	−24.9	−0.4	0.0	−86.4
	—	0.0	0.0	63.0	0.0
	—	−39.9	70.4	−58.6	−64.9
	—	−6.0	0.5	0.0	4.5
	—	−152	364	52.8	273
	—	0.0	80.9	0.0	74.7
	—	50.8	−4.2	137	−52.5
	—	−74.7	−13.2	−64.8	78.2
Cash from operating activities
	2,165	2,180	1,990	1,707	1,447
	—	−97.6	30.3	637	−399
	—	2,082	2,021	2,345	1,048
	—	0.0	0.0	0.0	−123
	—	0.0	0.0	0.0	32.5
	—	510	505	392	392
	—	1,572	1,515	1,953	565
Cash from investing activities
	—	1,484	766	786	588
	—	68.3	12.2	23.8	2.3
	—	5.6	0.0	0.0	0.0
	—	600	0.0	0.0	0.0
	—	0.0	0.0	3.2	0.0
	—	158	239	151	120
	—	971	213	−1,006	500
	—	−893	−302	−1,614	35.0
Cash from financing activities
	—	36.4	0.0	0.0	0.0
	—	0.0	42.5	21.3	26.7
	—	−3.4	0.0	0.0	0.0
	—	0.0	0.0	0.0	394
	—	98.4	96.2	77.2	62.6
	—	1.0	7.5	7.6	7.0
	—	627	627	470	470
	—	0.0	19.0	0.0	0.0
	—	−693	−669	−534	−907
	—	−14.4	545	−195	−307
	—	−2.2	−3.7	−4.5	−3.7
	—	−16.6	541	−199	−311
	—	—	—	266	465
Reference items
	2,285	2,200	2,131	1,843	1,599
	9.1%	9.8%	9.8%	9.9%	9.5%
	87.5	87.5	749	1,167	−22.9
	—	86.6	742	1,159	—
	₹1.40	₹1.40	₹11.95	₹18.60	−₹0.36
	739.08×	—	—	—	—
	—	0.93×	1.03×	1.54×	0.53×
	—	510	505	392	392
	—	1.0	7.5	7.6	7.0

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

HAVELLS₹1,031.40

Havells India Ltd.

· Consumer Goods

₹ CrorePeersPOLYCAB CROMPTON VOLTAS BLUESTARCO DIXON KALYANKJIL LGEINDIA TITANMcap ₹64,699 Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	296.2	338.5	400.4	431.9	—
+ Impairment Loss / (Reversal)	15.9	17.7	43.7	11.0	—
+ Finance Costs	33.4	45.6	43.2	37.1	—
+ Interest Income	0.0	-184.9	-225.6	-140.1	—
+ Fair Value (Gains) / Losses	0.0	0.0	9.0	-296.4	—
+ Share-based Payments	0.0	0.0	10.5	21.9	—
+ Unrealised FX (Gain) / Loss	-6.3	-0.3	-5.2	-5.2	—
+ Other Non-cash Items	0.0	197.4	15.1	0.0	—
+ Other Reconciling Items	0.0	0.0	-17.1	0.0	—
Changes in Working Capital
+ Inventories	-740.5	300.0	-637.7	-394.0	—
+ Trade Receivables — Current	-224.7	-205.8	-103.5	483.0	—
+ Other Financial Assets — Current	-86.4	0.0	-0.4	-24.9	—
+ Other Financial Assets — Non-current	0.0	63.0	0.0	0.0	—
+ Other Current Assets	-64.9	-58.6	70.4	-39.9	—
+ Other Non-current Assets	4.5	0.0	0.5	-6.0	—
+ Trade Payables — Current	272.7	52.8	363.5	-152.2	—
+ Other Financial Liabilities — Current	74.7	0.0	80.9	0.0	—
+ Other Current Liabilities	-52.5	137.0	-4.2	50.8	—
+ Provisions — Current	78.2	-64.8	-13.2	-74.7	—
Cash from Operating Activities
Profit Before Tax (per I/S)	1,447.1	1,707.4	1,990.5	2,179.8	2,165.2
+ Total Adjustments (incl. Working Capital)	-399.5	637.5	30.3	-97.6	—
Cash from Operations (pre-tax)	1,047.6	2,344.8	2,020.8	2,082.2	—
+ Interest Received — Operating	-123.2	0.0	0.0	0.0	—
+ Other Inflows / (Outflows) — Operating	32.5	0.0	0.0	0.0	—
+ Income Taxes Paid	391.9	391.9	505.5	510.2	—
Cash from Operating Activities	564.9	1,952.9	1,515.3	1,572.0	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	587.8	786.1	766.0	1,484.5	—
+ Disp of Fixed Assets	2.3	23.8	12.2	68.3	—
+ Purchase of Investments (Equity / Debt)	0.0	0.0	0.0	5.6	—
+ Acq of Subsidiaries / Businesses (net)	0.0	0.0	0.0	600.0	—
+ Government Grants Received	0.0	3.2	0.0	0.0	—
+ Interest Received — Investing	120.1	151.0	239.1	158.1	—
+ Other Inflows / (Outflows) — Investing	500.4	-1,005.8	213.1	970.8	—
Cash from Investing Activities	35.0	-1,613.9	-301.6	-892.9	—
Cash from Financing Activities
+ Proceeds from Issue of Shares	0.0	0.0	0.0	36.4	—
+ Proceeds from Exercise of Stock Options	26.7	21.3	42.5	0.0	—
+ Proceeds — Change in Ownership of Subsidiaries	0.0	0.0	0.0	-3.4	—
+ Repayment of Borrowings	393.7	0.0	0.0	0.0	—
+ Payment of Lease Liabilities	62.6	77.2	96.2	98.4	—
+ Interest Paid	7.0	7.6	7.5	1.0	—
+ Dividends Paid	470.3	470.1	626.8	627.1	—
+ Other Inflows / (Outflows) — Financing	0.0	0.0	19.0	0.0	—
Cash from Financing Activities	-906.9	-533.6	-668.9	-693.5	—
Net Changes in Cash (pre-FX)	-307.0	-194.5	544.9	-14.4	—
+ Effect of FX Rate Changes on Cash	-3.7	-4.5	-3.7	-2.2	—
Net Changes in Cash	-310.7	-199.1	541.2	-16.6	—
Closing Cash	465.2	266.1	—	—	—
Reference Items
EBITDA	1,599.1	1,842.6	2,130.9	2,199.7	2,285.0
EBITDA Margin %	9.46	9.91	9.78	9.76	9.05
Free Cash Flow (CFO − Capex)	-22.9	1,166.8	749.3	87.5	87.5
Free Cash Flow to Equity	—	1,159.2	741.9	86.6	—
Free Cash Flow per Basic Share	-0.36	18.60	11.95	1.40	1.40
Price to Free Cash Flow	—	—	—	—	739.08
Cash Flow to Net Income	0.53	1.54	1.03	0.93	—
Cash Paid for Taxes	391.9	391.9	505.5	510.2	—
Cash Paid for Interest	7.0	7.6	7.5	1.0	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave

Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.