Buy Havells India, target price Rs 1236: ICICI Direct

ICICI Direct has buy call on Havells India with a target price of Rs 1236. The current market price of Havells India is Rs 1223.15. Time period given by analyst is Intra Day when Havells India price can reach defined target. ICICI Direct recommended to keep stop loss at Rs 1209.

Havells India, incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 76543.83 Crore) operating in Consumer Durables sector.

Havells India key Products/Revenue Segments include Cables, Electrical Consumer Durables, Others, Domestic Switchgears, Light Fittings & Fixture, Export Incentives for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 4167.21 Crore, up 11.92 % from last quarter Total Income of Rs 3723.26 Crore and up 12.23 % from last year same quarter Total Income of Rs 3713.05 Crore. Company has reported net profit after tax of Rs 283.52 Crore in latest quarter.

The company’s top management includes Mr.Anil Rai Gupta, Mr.Ashish Bharat Ram, Mr.Upendra Kumar Sinha, Mr.Subhash S Mundra, Mr.Jalaj Ashwin Dani, Mr.Vivek Mehra, Mr.B Prasada Rao, Mr.T V Mohandas Pai, Mr.Puneet Bhatia, Mr.Surjit Kumar Gupta, Mr.Siddhartha Pandit, Mr.Ameet Kumar Gupta, Mr.Rajesh Kumar Gupta, Ms.Namrata Kaul. Company has Price Waterhouse & Co Chartered Accountants LLP as its auditors. As on 31-12-2022, the company has a total of 63 Crore shares outstanding.

Investment Rationale
Buying demand emerging from the rising demand line joining last one months lows and 50 days EMA signalling strength.

Promoter/FII Holdings
Promoters held 59.45 per cent stake in the company as of 31-Dec-2022, while FIIs owned 22.6 per cent, DIIs 10.27 per cent.