Buy Havells India; target of Rs 575: Edelweiss

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26 Aug, 2025 12:21

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Edelweiss' research report on Havells India

A strong top line helped Havells India (HAVL) post double digit growth across most businesses, except lighting, in Q4FY17. However, EBITDA growth was lower due to promotional schemes to counter the demonetisation impact.

Outlook

This, we believe, could be a key value driver given that Lloyds has one of the lowest margins, which under HAVL could see a material turnaround, driving significant share-holder value. We maintain ‘BUY/SO’.

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