Buy Havells India, target price Rs 1550: ICICI Securities

ICICI Securities has buy call on Havells India with a target price of Rs 1550. The current market price of Havells India is Rs 1197.25.

Havells India, incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 75140.45 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 S R Batliboi & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 63 Crore shares outstanding.

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.