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. At all its business segment, 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
Outlook
We continue to remain positive and maintain BUY rating We introduce FY24 estimate and rollover our valuation on FY24E and value stock at Rs 1570/share i.e.53x P/E FY24E EPS
For all recommendations report, click here
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