Havells India Ltd Share Price – NSE /  BSE

Consumer Durables, Mid Cap

Havells India has approved acquiring a stake of 26% in Kundan Solar (Pali), a Special Purpose Vehicle (SPV), established for the business of developing, installing, operating, managing and maintaining solar power plant.

The purpose of this transaction is to strategically reduce dependence on fossil fuel and move towards green energy. Kundan Solar will set up a 15 MWac solar power plant and Havells plan to enter into a long-term Power Purchase Agreement (PPA) up to 25 years. Under the Electricity Laws, Havells is required to hold a minimum of 26% shareholding to qualify as a captive consumer.

The arrangement will result in savings in power cost at plant locations in Rajasthan with payback within ~12-18 months from date of commissioning of the project.

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Havells India announced that a settlement agreement has been signed between the Company viz. Havells India and the HPL Group and its promoters.

This settlement agreement resolves all pending disputes and litigations related to the use of word/ mark 'HAVELLS', including suits filed in various Court(s) including the Delhi High Court and various Special Leave Petitions (SLPs) filed in the Supreme Court. The Hon'ble Delhi High Court had referred these disputes to Mediation, and the settlement was reached and executed yesterday on 8 November 2025.

As part of the settlement, the HPL Group acknowledges Havells India & its promoters' absolute rights to the 'HAVELLS' mark since 1971. HPL Group has waived any claims to the 'HAVELLS' mark and has undertaken not to use or challenge the mark in any form. Additionally, the HPL Group has agreed to change the corporate name of its entities, namely, Havell's Private and Havells Electronics , to names not containing 'HAVELLS.'

As a onetime full and final settlement, Havells India will pay an amount of Rs. 129.60 crore to the HPL Group.

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Havells India announced that Vivek Yadav, Executive Vice President of the Company is retiring today i.e. 31 October 2025 due to superannuation.

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Havells India has appointed Pankaj Mohan Arora as Executive President - Finance with effect from 27 October 2025.

Prior to joining the Company, Pankaj spent over six years at Russell Reynolds Associates as the Managing Director, where he led their consumer sector practice, while working more broadly in the Board and CEO practice.

Prior to Russell Reynolds Associates, Pankaj was a Partner with KPMG in India for over five years, in their Governance, Risk, and Compliance practice. He was also responsible for setting up and leading their Board Leadership Centre and was co-chair of Women Corporate Directors. Prior to KPMG, Pankaj was the Managing Director of Protiviti Consulting, a boutique firm focussed on risk consulting.

Pankaj started his professional journey in 1996 with Arthur Andersen and worked with EY and American Express Financial Advisors (now Ameriprise Financial) prior to joining Protiviti. Arora completed his Bachelor of Commerce with Honours from Shri Ram College of Commerce in 1996 and cleared his Chartered Accountancy, with all India ranks in both the intermediate and final examinations in 1999.

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