How India buys

How India buys fans, lights and wires

The listed companies behind it: Havells, Crabtree, Havells Crabtree.

4 listed companies sold ₹58,280 crore of fans, lights and wires in FY26. Polycab India Ltd sold the most, 46.8% of it. Havells India Ltd earned the most on each rupee of sales: 13.7%.

Listed companies' sales, FY26

₹58,280 Cr

Largest seller

46.8%

Polycab India Ltd

Best margin

13.7%

Havells India Ltd

The brands, and who owns them

5 brands of fans, lights and wires, best known first

Havells India LtdNSE: HAVELLS · 28.9% of the listed sales

HavellsCrabtreeHavells CrabtreeReoStandard

Havells, Crabtree, Havells Crabtree, Reo and others are Havells India Ltd's. Brands are read from each company's filings and checked against a public source.

Who sells the most

Share of the listed companies' sales, FY26

Polycab India Ltd₹27,268 Cr · 94% of its sales Wires and cables 93% · FMEG 7%

46.8%

Havells India Ltd₹16,826 Cr · 75% of its sales Wires and cables 52% · Fans 23% · Switchgear 15% · Lighting 10%

28.9%

R R Kabel Ltd₹9,722 Cr · 100% of its sales Wires and cables 90% · Fast-Moving Electrical Goods 10%

16.7%

Sterlite Technologies Ltd₹4,462 Cr · 94% of its sales

7.7%

Polycab India Ltd had 46.8% of the listed companies' sales of fans, lights and wires here, 1.6 times as much as Havells India Ltd, the next largest. The two together sold 76%; the other 2 the rest.

From each company's own sales figures for this kind of product (its reported segment, or its whole sales where that is all it sells). Private makers are not counted, so this is the split among listed companies, not the whole market.

What it is made of

Sales by product line, FY26

Wires and cables₹47,127 Cr

80.9%

Fans₹3,876 Cr

6.7%

Switchgear₹2,586 Cr

4.4%

Lighting₹1,688 Cr

2.9%

Not reported by product₹3,003 Cr

5.2%

Of the sales reported by product line, wires and cables is the largest at ₹47,127 Cr, then fans at ₹3,876 Cr.

Where a company reports its product lines separately. "Not reported by product" is sales a company reports only as a whole.

How the sales have grown, and who sold them

Sales of fans, lights and wires each financial year in ₹ crore (L = lakh crore), the change on the year before above each column

Polycab India LtdHavells India LtdR R Kabel LtdSterlite Technologies Ltd

The listed companies here sold ₹58,280 Cr of fans, lights and wires in FY26. Counting only the companies with figures in both years, sales went from ₹26,592 Cr in FY25 to ₹31,011 Cr. Some companies are counted only from a later year (Polycab India Ltd from FY26).

Counted from the first year their figures for this are available: Polycab India Ltd from FY26. A jump in that year is partly that.

Who earns the most on each rupee

Operating profit as a share of sales of fans, lights and wires, each financial year

Havells India LtdR R Kabel LtdSterlite Technologies Ltd

Operating profit before interest and tax, as a share of sales of fans, lights and wires. Havells India Ltd earned 13.7% on its sales in FY26, against 12.8% in FY25. R R Kabel Ltd earned 7.6% on its sales in FY26, against 5.9% in FY25. Sterlite Technologies Ltd earned 13.6% on its sales in FY26, against 12.5% in FY25.

The companies, and their brands

Company and brands	Sales FY26	Growth 1 yr	3 yrs	5 yrs	Margin	Profit share	Return on assets	P/E	ROE	Share price 1 yr
Polycab India Ltd	₹27,268 Cr	—	—	—	13.0%	49.1%	28.3%	43.4	24.1%	+9.0%
Havells India Ltd Havells, Crabtree, Havells Crabtree, Reo, Standard Sells in 28 states and 70 countries; exports 3.75% of turnover	₹16,826 Cr	+10.2%	—	—	13.7%	32.1%	42.1%	41.5	19.1%	-25.3%
R R Kabel Ltd	₹9,722 Cr	+27.6%	—	—	7.6%	10.3%	17.9%	48.6	20.7%	+108.0%
Sterlite Technologies Ltd	₹4,462 Cr	+20.3%	—	—	13.6%	8.4%	11.2%	193.8	0.5%	+755.4%

Brands are read from each company's filings and checked against a public source. Growth is the yearly rate of its sales of fans, lights and wires. Margin is the operating profit (before interest and tax) the company reports on them, as a share of those sales; profit share is its part of all the listed companies' profit on them; return on assets is that profit against the assets it reports for them. A company with no other business is measured on its whole accounts. Where a company's segments include sales between its own businesses (a bank's treasury lending to its retail arm), each segment is scaled down in proportion so that together they match what the company earns outside itself; companies report those internal sales only as a total. Not a recommendation to buy or sell.

Also sold by

These companies report this together with other businesses, so their figures are not counted above

Siemens Ltd

Dixon Technologies (India) Ltd

Questions people ask

Which listed companies sell fans, lights and wires in India?

4 listed companies report their sales of fans, lights and wires: Polycab India Ltd (POLYCAB), Havells India Ltd (HAVELLS), R R Kabel Ltd (RRKABEL), Sterlite Technologies Ltd (STLTECH). 2 more sell them but report them together with other products.

Which listed company sells the most fans, lights and wires in India?

Polycab India Ltd, with sales of fans, lights and wires of ₹27,268 crore in FY26: 46.8% of the listed companies' total here.

How big is the listed market for fans, lights and wires?

The listed companies here sold ₹58,280 crore of fans, lights and wires in FY26. Private makers are not included.

Which listed company makes the most profit on fans, lights and wires?

Havells India Ltd: its operating profit was 13.7% of its sales of fans, lights and wires in FY26.

Who owns Havells?

Havells is a brand of Havells India Ltd, listed on the NSE as HAVELLS.

Who owns Crabtree?

Crabtree is a brand of Havells India Ltd, listed on the NSE as HAVELLS.