Q1FY22 Result Update - Havells India - ICICI Direct

Better-than-expected operational performance led by industrial product segments

- Reported revenue growth of 76% YoY to Rs. 2598 crore (down ~22% QoQ)

- Higher gross margin and savings in other costs drove EBITDA margin higher by 474 bps YoY to 13.6%

- PAT jumped ~4x YoY to Rs. 234 crore mainly on a favourable base

Key triggers for future price performance

- Total ~1.7 crore new houses under PMAY, urbanisation and rising aspiration level will give a significant boost to demand for home appliances

- Revival in the Lloyd business through new launches and improvement in segment margin

- It aims to increase its town penetration from current 1150 to 2000 and retail touch points from 1.6 lakh to 2.5 lakh over the next five years

- Model revenue, earnings CAGR of 20%, 21%, respectively, in FY21-23E

For details, click on the link below: Link to the report

Shares of HAVELLS INDIA LTD. was last trading in BSE at Rs. 1143.85 as compared to the previous close of Rs. 1151.45. The total number of shares traded during the day was 149697 in over 8903 trades.

The stock hit an intraday high of Rs. 1166.55 and intraday low of 1139.05. The net turnover during the day was Rs. 172203831.

Source : Equity Bulls

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