757.35 0.05 (0.01%)
NSE Mar 22, 2019 15:31
Volume: 806.2K
 
Durability score
60 /100
Valuation score
10.8 /100
Momentum score
66.1 /100
Market Capitalizati...
47,372.2 Cr.
AVG Broker Target
680.9
PE TTM Price to Ear...
58.5
Havells India Ltd.    
23 Jan 2019
757.35
0.01%
buy
Geojit BNP Paribas
Excluding Lloyd, HAVL's average revenue growth for last 3 quarters was 27%, led by market share gains, retail penetration and premiumisation. However, EBITDA margin declined by 160bps YoY to 11.7% due to increase...
Havells India Ltd. has gained 53.12% in the last 1 Year
Havells India Ltd.    
23 Jan 2019
757.35
0.01%
buy
ICICI Securities Limited
ICICI Securities Ltd | Retail Equity Research Havells' core business and Lloyd recorded strong topline growth of 29% and 22% YoY, respectively, leading to total topline growth of 28% YoY in Q3FY19. Strong festive demand in the appliances category coupled with market share gain in the water heater segment drove the overall ECD performances while government led initiatives into infrastructure and electrification drove the performance of cable and switchgear segment. Under Lloyd, while the AC segment...
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Havells India Ltd. has an average target of 680.85 from 14 brokers.
Havells India Ltd.    
23 Jan 2019
757.35
0.01%
Nirmal Bang Institutional
Havells India (HIL) posted a strong 28% YoY growth in net revenues at Rs25.2bn in 3QFY19, 12%/11% above our/consensus estimates, respectively. The growth was aided by government-led initiatives in electrification and infrastructure (cable/switchgear sales up 31%/21% YoY, respectively) and the festive season in 3QFY19 (ECD/Lloyd sales up 34%/22% YoY, respectively). However, volatile commodity prices impacted margins. Gross margin fell 220bps YoY to 37.5% while EBITDA margin was down 160bps YoY at 11.7%, below our/consensus estimate of 12.2%/12.8%, respectively. While EBITDA grew 12% YoY to Rs2.9bn, PAT was flat YoY at Rs1.9bn owing to a higher tax rate (32.2% versus 27.8%). The bottom-line was 5%/2% above our/consensus estimate, respectively, owing to...
Havells India Ltd. is trading above it's 200 day SMA of 651.87
Havells India Ltd.    
22 Jan 2019
757.35
0.01%
HDFC Securities
We value based on 36x P/E on Dec-20EPS with TP of Rs 738 (earlier 713). Havells reported a stellar quarter with 28% revenue growth (est. 13%; 14% in 3QFY18) driven by festive season benefits (durables), govts electrification drive and acceleration in infra projects. EBITDAM was under pressure (2nd consecutive qtr) owing to volatile commodity prices (cost inflation has reversed now). ECD segment witnessed the highest crack in margins (-414bps) owing to focus on new launches and market share gains in festive season. EBITDA/APAT grew by 12/9% (exp. 13/14%).
Havells India Ltd. has an average target of 680.85 from 14 brokers.
Havells India Ltd.    
22 Jan 2019
757.35
0.01%
Emkay
Once again, Havells surprised on the positive side, reporting strong revenue growth, driven by the ECD, Cables & Wires, and Lighting & Fixture segments. The Lloyd and Switchgear segments were also not far behind and have reported healthy growth rates. The volatility in commodity prices, currency headwinds, and time lag in passing on the cost increases continue to impact margins negatively. Strong revenue growth was...
Havells India Ltd. has an average target of 680.85 from 14 brokers.
Havells India Ltd.    
22 Jan 2019
757.35
0.01%
Motilal Oswal
22 January 2019 YoY to 37.5%. EBITDA of INR2.95b (+12.3% YoY) was 6.2% ahead of our estimate. Ad spend increased to INR0.9b (3.6% of sales v/s 4% in 3QFY18), while employee costs rose 30% YoY to INR2.1b. Adj. PAT grew 18.3% YoY to INR1.9b, 5.8% above our estimate.
Havells India Ltd. has gained 53.12% in the last 1 Year
Havells India Ltd.    
22 Oct 2018
757.35
0.01%
buy
Geojit BNP Paribas
Expanding product portfolio, retail network, market share gains and revival in consumption spending will drive its future growth. However, in the near term its key segments like Switch gears & cables (50% of sales) are vulnerable to slowdown in construction sector. We lower our EBITDA margins estimates by 100bps & 30bps for FY19E & FY20E to factor in impact on margins. We expect earnings to grow by 25% CAGR over FY18-20E. Considering the near term impact on margins and premium valuation, we...
Havells India Ltd. is trading above it's 200 day SMA of 651.87
Havells India Ltd.    
19 Oct 2018
757.35
0.01%
HDFC Securities
Havells India Ltd Q2FY19 results Comment Revenue decreased by 15.61% to Rs. 2190.99 Cr in Q2FY19 when compared to the previous quarter. On the other hand, it grew by 23.27% when compared with Q2FY18.
Havells India Ltd. has gained 53.12% in the last 1 Year
Havells India Ltd.    
19 Oct 2018
757.35
0.01%
Chola Wealth Direct
Havells India Ltd. is trading above it's 200 day SMA of 651.87
Havells India Ltd.    
19 Oct 2018
757.35
0.01%
ICICI Securities Limited
However, Lower EBITDA margin was on mainly due to 1) muted performance of Lloyd business on account of adverse season, trade inventory & forex headwinds 2) delay in passing on higher RM prices in cable segment. ECD business (excluding Lloyd) recorded a strong growth of 42% YoY driven by new launches and fan segment. Switchgear, cable and lighting business (excluding EESL) have witnessed demand traction from government & residential projects. Havells' has not been participating EESL's low margin business as a...
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Havells India Ltd. has gained 53.12% in the last 1 Year