Havells India Ltd., incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 61042.53 Crore) operating in Consumer Durables sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 3375.87 Crore, up 5.03 % from last quarter Total Income of Rs 3214.24 Crore and up 50.83 % from last year same quarter Total Income of Rs 2238.22 Crore. Company reported net profit after tax of Rs 303.83 Crore in latest quarter.
Investment Rationale
The brokerage models Havells to report PAT CAGR of 17.4% over FY21-FY23E and RoE to be upwards of 20% over FY22-23. It remains positive on the company’s business model due to strong moats and growth opportunities. It maintains BUY rating on the stock with DCF-based target price of Rs1,198 (implied P/E 52x FY23E).
Promoter/FII Holdings
Promoters held 59.5 per cent stake in the company as of March 31, 2021, while FIIs held 25.1 per cent, DIIs 7.7 and public and others 7.7 per cent.
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