172@29@17@103!~!172@29@0@53!~!|news|business|stocks|buy-havells-target-of-rs-611-anand-rathi-5275581.html!~!|controller|infinite_scroll_article.php
Moneycontrol
Financial Freedom Offer: Subscribe to Moneycontrol Pro and grab benefits worth ₹15,000/-
Last Updated : May 16, 2020 03:38 PM IST | Source: Moneycontrol.com

Buy Havells; target of Rs 611: Anand Rathi

Anand Rathi is bullish on Havells has recommended buy rating on the stock with a target price of Rs 611 in its research report dated May 13, 2020.

Broker Research
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Anand Rathi 's research report on Havells


The weak Q4 for Havells was led by a 20% y/y drop in revenue due to the lockdown, resulting in an `8bn sales loss across divisions. While rural markets are opening up, urban markets will take a little longer to recover (key for Havells). Pre-buying in the channel in Jan-Feb restricted a major fall in Q4 AC sales; recovering sales loss of the last two months will be a challenge. Expecting a gradual recovery, over FY20-22 we expect 7%/12% CAGRs in revenue/PAT with RoE/RoCE reaching a healthy ~18%/17%, and FCF generation continuing.


Outlook


We retain a Buy on the stock and our target (`611, 42x FY22e P/E).


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Published on May 16, 2020 03:38 pm
Sections