Please refer to important disclosures at the end of this report
1
Havells India Limited is a holding company and is engaged in manufacturing
Switchgears, Cable, Lighting and Fixtures, and Electric Consumer Durables.
Havells India reported strong earnings growth this quarter driven by margin
expansion. The higher income improvement and lower interest cost given highe
r
cash levels has aided earnings growth during the quarter and if the same
continue will be positive for the company. In the recent few years the compan
y
has changed its positioning from that of a premium product player to that of a
value for money player. The company continues to expand both its geographic
reach and product offering and is now also focusing on export business as well
which will boost company's growth going forward. The company has reduced its
debt and is virtually debt free. The company has been maintaining a health
y
dividend payout of 45.17%. Hence Buy
BUY
CMP `428
Stock Info
Sector
Beta 0.9
Bloomberg Code HAVL.IN
Shareholding Pattern (%)
Promoters 61.6
MF / Banks / Indian Fls 3.1
FII / NRIs / OCBs 27.1
Indian Public / Others 8.2
Abs. (%) 3m 1yr 3yr
Sensex 6.3 8.1 53.2
Havells India 17.6 65.9 247.7
Nifty 8,810
Reuters Code HVEL.BO
Face Value (`)1
BSE Sensex 28,532
52 Week High / Low 429/236
Avg. Daily Volume 138,599
Capital Goods
Market Cap (` cr) 26,725
Vaibhav Agrawal
022 – 3935 7800 Ext: 6808
Havells India
Others | Capital Goods
September 6, 2016
Havells India | Capital Goods
September 6, 2016
2
Research Team Tel: 022 - 39357800 E-mail: [email protected] Website: www.angelbroking.com
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