Havells India Ltd

November 7, 2017 . Equities Desk

Incorporated in 1983, Havells India is a leading manufacturer of electrical components and power distribution equipment’s with products ranging from industrial and domestic circuit protection switchgears, cables, motors, pumps, fans, power capacitors, CFL lamps and luminaries. The company has 12 manufacturing plants spread across 7 locations in the country.

Valuations: The company is currently trading at a PE multiple of 45.4x/36.4x for FY18E/19E. The company’s robust product portfolio, strong brand recall and higher visibility of revenue growth should continue to support Havell’s premium valuations. We expect the company’s revenue and PAT to grow at a healthy CAGR of ~21%/~20% over FY17-19E. Hence, we recommend ‘BUY’ rating on the stock with a target price of Rs. 555 based on a target multiple of 41xFY19E EPS.

Research Report – Havells India Ltd

Investments in equity shares, debentures, etc., are not obligations of, or guaranteed by Wealth India Financial Services Pvt. Ltd., and are subject to investment risks. Click here to read our full disclaimer.

Get FundsIndia’s articles delivered straight to your inbox!

Enter your email address to get:

  • Mutual fund recommendations from experts
  • Buy, hold or sell calls for stocks
  • Investment tips and tricks
  • All the latest news from

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.