ICICI Direct has given Buy recommendation for Havells India recommended buy rating on the stock with a target price of Rs 1565 in its research rep with a target price of Rs. 1565 in its research report issued on Oct 21, 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 19% & 24%, respectively (fiveyear average), with stringent working capital policy.
We maintain our BUY rating on the stock. We value the stock at 58x FY24E EPS with a revised target price of Rs 1565/share.