ICICI Direct has given Hold recommendation for Havells India with a target price of Rs. 1375 in its research report issued on May 06, 2022
ICICI Direct’s research report on Havells India
Havells India (HIL) is India’s leading electrical appliances & equipment manufacturer with a diversified product portfolio consisting of switchgears, cables, electrical consumer durables and lighting & fixtures. Apart from ‘Havells’, HIL’s other major brands include Crabtree, Standard, Reo and Lloyd. In all its business segments, Havells has a strong presence in the organised product category with market share ranging between 6% and 20% • Robust balance sheet with RoE & RoCE of 20% & 25%, respectively (fiveyear average), with stringent working capital policy.
We revise our rating from BUY to HOLD. We value the stock at 53x FY24 EPS with revised target price to Rs 1375/share.