Accumulate Havells India; target of Rs 1212: Prabhudas Lilladher
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Prabhudas Lilladher suggests an accumulate rating for Havells India with a target price of Rs 1212.
- ✓The company reported 34.6% revenue growth, supported by strong demand across many categories.
- ✓While raw material costs hit margins, management said they plan further price hikes of 5-7% in Q3FY27 to manage these expenses.
Story at a Glance
- Category
- BUSINESS
- Reported By
- MoneyControl
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Prabhudas Lilladher's research report on Havells India Havells reported 34.6% YoY revenue growth, supported by broad-based growth across categories and steady consumption demand despite elevated raw material costs. Cables revenue grew 47.9% YoY, driven by commodity-linked price increases and a favourable mix, while volumes grew close to double digits; however, EBIT margin declined to 10.2% YoY due to aluminium price volatility. Switchgears grew 31.3% YoY, supported by a pickup in domestic demand and recovery in exports.
ECD revenue grew 10.7% YoY, while Lighting & Fixtures grew 7.3% amid price stabilisation, although margins remained soft due to certain project orders. Renewables revenue grew 147.8% YoY, with margins improving on a better product mix as it focuses on a brand and distribution-led strategy.
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