Havells India Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for HAVELLS, BSE:517354 Havells India Ltd.

Havells India Ltd.

04 Nov 2020

1509.90

-1.93%

Havells India Ltd. - Result Update - 04 November 2020

Accumulate: Havells India Ltd.

Way2Wealth

ECD Segment registered strong growth of 18% YoY driven by consumer and residential product categories Revenue grew 10% YoY to `24.5bn in Q2FY21. The performance was driven by consumer and residential product categories (75% of total sales) with 15% YoY growth led by demand recovery. Consumer lighting grew by 15% YoY while domestic wires grew by 19%-20% YoY. Fans industry registered single digit growth, but the company grew faster than competition. The growth was aided by rural demand as well as e-commerce sales. Within the consumer and residential portfolio, rural forms 4% of total sales and has grown by 140% YoY....

Havells India Ltd. is trading below all available SMAs

Havells India Ltd.

02 Nov 2020

1509.90

-1.93%

HAVELLS INDIA LTD

Hold: Havells India Ltd.

Recommendation Target

Geojit BNP Paribas

Despite premium valuation, we upgrade HAVL to Hold from Sell considering sharp turnaround in earnings. Q2 Revenue & PAT grew by 10% & 79% YoY, as demand revived with ease in restriction and strong operating performance. EBITDA margin improved by 130bps YoY to 17.2% on account of better product mix and significant cost rationalisation. We upgrade our EPS estimates by 63% & 11% for FY21E & FY22E, given sharp turnaround in earnings....

Havells India Ltd. has an average target of 1693.00 from 7 brokers.

Havells India Ltd.

24 Sep 2020

1509.90

-1.93%

Foray into Refrigerator segment

Neutral: Havells India Ltd.

Target

Motilal Oswal

24 September 2020 its entry into the Refrigerator product category with the launch of 25 new models of Direct Cool, Frost Free, and Side by Side refrigerators. Going ahead, the company aims to launch 25 additional refrigerator models and a new range of dishwashers by Diwali 2020. Assuming INR10k as the price of the base model (190-liter Direct Cool refrigerator) implies a 1213% discount on a like-to-like basis v/s products offered by key brands such as LG, Samsung, and Whirlpool. The new products launched would be available across pan-India Lloyd brand stores, offline dealers, and Lloyd online e-stores. Top 3 players in the Refrigerator category LG, Samsung, and Whirlpool occupy ~80% market share. Videocons exit has resulted in market share gains for the Top 3 players, with Whirlpool being the biggest beneficiary owing to an attractive pricing point).

Havells India Ltd. has an average target of 1693.00 from 7 brokers.

Havells India Ltd.

29 Jul 2020

1509.90

-1.93%

Havells India

Hold: Havells India Ltd.

Recommendation Target

ICICI Securities Limited

Significant cost savings help restrict fall in margin Gross margins fell ~270 bps YoY mainly due to change in mix and delay in passing on higher raw material prices. However, sharp fall in advertisement expenditure (0.4% in Q1FY21 vs. 5% in Q1FY20), 44% and 27% YoY decline in employee cost and other expenditure during Q1FY21, restricted fall in EBITDA margin to 8.8%. The management expects a recovery in sales to...

Havells India Ltd. has an average target of 1693.00 from 7 brokers.

Havells India Ltd.

28 Jul 2020

1509.90

-1.93%

HAVELLS INDIA LTD

Sell: Havells India Ltd.

Recommendation Target

Geojit BNP Paribas

Havells India Ltd (HAVL) is a leading player in electrical consumer goods in India. Its key verticals include switchgears, cables & wires, lighting fixtures and consumer appliances....

Havells India Ltd. has lost -26.76% in the last 1 Year

Havells India Ltd.

27 Jul 2020

1509.90

-1.93%

Q1FY21 Result Update - B2B portfolio/ Urban focus to delay recovery

Sell: Havells India Ltd.

Target

Prabhudas Lilladhar

HAVL's management remains cautious on the sustainability of the demand trends witnessed in May and June given localized lockdowns adversely impacting business operations. HAVL's consumer portfolio has bounced back faster, however, road to recovery in the B2B portfolio (30% of sales), comprising of industrial cables, switchgears, professional luminaire is likely...

Havells India Ltd. has an average target of 1693.00 from 7 brokers.

Havells India Ltd.

27 Jul 2020

1509.90

-1.93%

Strong show, but cost-cutting measures unlikely to sustain

Neutral: Havells India Ltd.

Target

Motilal Oswal

27 July 2020 While revenue decline of 45% YoY was in line with our expectations, aggressive cost rationalization measures led to a strong beat in earnings. Employee costs were also lower by 27% YoY on account of certain voluntary actions, which should normalize from 2QFY21. As demand recovers, we expect the large part of these cost elements to scale back. However, the outlook remains hazy due to the local lockdowns; hence, the management appears cautious on extrapolating the June run-rate to the coming quarters. The results of peers suggest that with a demand level of 8085% v/s last year in July, Factoring cost savings in 1QFY21, we increase our FY21/FY22 EPS estimates by 14%/4%. The deterioration in working capital was disappointing, but this should normalize in the coming quarters. Maintain Revenue declined 45% to INR14.8b and was in line with our expectation.

Havells India Ltd. has lost -26.76% in the last 1 Year

Havells India Ltd.

27 Jul 2020

1509.90

-1.93%

Havells India

Sell: Havells India Ltd.

Yes Securities

Recovery was witnessed across all segments in June. Overall revenueswerehigherby4%yoyinJuneledby12%increasein B2Cbusiness.B2BbusinessremainedmutedinJunecompared...

Havells India Ltd. is trading below all available SMAs

Havells India Ltd.

29 Jun 2020

1509.90

-1.93%

Havells India

Sell: Havells India Ltd.

Recommendation Target

Dolat Capital

It has expanded its dealer network to 11200 from 10500 last year, while also developing suppliers, sourcing 78% of its needs from local suppliers/MSME. They have bolstered their board strength with senior industry people like BP Rao, ex CMD, BHEL and SS Mundra, ex DY Governor, RBI as replacement to board members completing terms. Interestingly, employee strength fell 12%, from 6,536 to 5,781- the first time in 5 years, after a CAGR of 13% from FY16-19, as part of its delayering and cost rationalization. Further observation is that per employee cost (Emp...

ICICI Securities Limited released a Buy report for Havells India Ltd. with a price target of 1800.0 on 12 Sep, 2025.

Havells India Ltd.

28 May 2020

1509.90

-1.93%

HAVELLS INDIA LTD

Accumulate: Havells India Ltd.

Recommendation Target

Geojit BNP Paribas

Havells India Ltd (HAVL) is a leading player in electrical consumer goods in India. Its key verticals include switchgears, cables & wires, lighting fixtures and consumer appliances. We downgrade HAVL to Accumulate from Buy on account earnings downgrade. However, we believe that current headwinds have been priced-in. We expect a gradual revival in demand starting from H2FY21E, as situation normalises....

Havells India Ltd. is trading below all available SMAs

Is Havells India Ltd. worth buying?

410 Votes:

Buy 73.17%

Sell 17.32%

Hold 9.51%

RESEARCH REPORTS

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