Havells India Ltd., incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 88102.05 Crore) operating in Consumer Durables sector.
Havells India Ltd. key Products/Revenue Segments include Cables, Electrical Consumer Durables, Traded Goods, Domestic Switchgears, Light Fittings & Fixture, Others, Export Incentives for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 2644.17 Crore, down -21.67 % from last quarter Total Income of Rs 3375.87 Crore and up 74.47 % from last year same quarter Total Income of Rs 1515.56 Crore. Company reported net profit after tax of Rs 235.78 Crore in latest quarter.
Investment Rationale
The brokerage models Havells to report PAT CAGR of 22.5% over FY21-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 revised DCF-based target price of Rs1,650 (implied P/E 54x FY24E).
Promoter/FII Holdings
Promoters held 59.47 per cent stake in the company as of 30-Sep-2021, while FIIs owned 26.76 per cent, DIIs 6.12 per cent.
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