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    HomeNewsBusinessMoneycontrol ResearchHavells India: Are margins going to shape up?

    Havells India: Are margins going to shape up?

    The company is focusing on market share gain but stock appears to be overvalued

    Sachin Pal
    Neha Gupta
    October 25, 2022 / 17:09 IST
    Havells India | CMP: Rs 1165.95 | The stock was down 7 percent after the firm reported a 38% fall in quarterly profit on Wednesday, missing analysts' estimates widely, dented by a fall in margins and higher expenses. The company's profit for the three months ended Sept. 30 came in at 1.87 billion rupees ($22.50 million), compared with 3.02 billion rupees a year ago. Analysts on average had expected a profit of 2.76 billion rupees. The company said impact on margins in its cable business and Lloyd were more pronounced, while short-term destocking in fans led by changes in energy-efficiency norms also hurt results.
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    This Research Report / Research Recommendation has been published by Moneycontrol Dot Com India Limited (hereinafter referred to as “MCD”) which is a registered Investment Advisor under the Securities and Exchange Board of India (Investment Advisers) ...Read More