Consumer Durables News

Havells India share price: Buy Havells India, target price Rs 1621: ICICI Securities


has buy call on Havells India with a target price of Rs 1621. The current market price of . is Rs 1245.6. Time period given by analyst is one year when Ltd. price can reach defined target.




India Ltd., incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 78752.06 Crore) operating in Consumer Durables sector.

Havells India Ltd. key Products/Revenue Segments include Cables, Electrical Consumer Durables, Others, Domestic Switchgears, Light Fittings & Fixture, Export Incentives for the year ending 31-Mar-2022.

Financials

For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 4292.05 Crore, down -3.99 % from last quarter Total Income of Rs 4470.37 Crore and up 62.32 % from last year same quarter Total Income of Rs 2644.17 Crore. Company reported net profit after tax of Rs 243.16 Crore in latest quarter.

Investment Rationale
The brokerage models Havells to report PAT CAGR of 22.9% over FY22-FY24E and RoE to be upwards of 20% over FY22-24. It remains positive on the company’s business model due to strong moats and growth opportunities. It maintains BUY rating with a DCF-based target price of Rs1,621 (implied P/E 56x FY24E).


Promoter/FII Holdings
Promoters held 59.45 per cent stake in the company as of 30-Jun-2022, while FIIs owned 23.1 per cent, DIIs 8.96 per cent.

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